Oriole Resources Share Price (ORR)

ORR are attending this event https://www.miningjournalselect.com/mjslondon today and tomorrow - it appears there are only companies attending that Rick Rule and his cohorts deem to be worthy of attendance so it is a real feather in the cap for Oriole to be selected.

If anyone wants to attend tomorrow I have been advised that the £795 fee will be waived as a gesture by Rick Rule, you can enter as his guest, short notice I know but if anyone is in London and wants to chat to management that's a great offer.

This is good news, we just need some (great) results to come through and some more JV deals on the remaining licenses.

Through the current BCM JV monies, Lanstead funding, Turkey ($80k) and any tax credits we might be able to get back, we have the topline company funded in line with the licenses and a xxxx load of work taking place by our JV partner, and the ORR team out trying to seek JVs for the other licenses.

As a reminder, we have Bibemi with a 375k oz inferred JORC at 2.3g/t and 7,060m of drilling across 62 holes and results expected soon which will hopefully increase this JORC. Last year, a local company Chesser had an indicated 625,000 oz at 1.9g/t and a further inferred at 235,000 oz at 1.5 g/t, basically 880,000 oz at ~ 1.7g/t. They were then bought by Fortuna for over £40m.

Obviously we will be diluted to 50% by BCM completing the $4m of work, but still, if we get the JORC up to 1m oz+ which is quite possible given the scale and size of the license, then that alone is worth double the current share price, hence the importance of the upcoming results

Then we have all the work on MBE, with infill soil sampling results already announced should be in Q3, and a 5,500m trenching programme ongoing as well to set us up for the future exploration of the license, which again is all free carried to the tune of $4m by BCM our JV partner.

In summary, with strong results in Bibemi growing the JORC and some more strong results in MBE we can get to a point as a company where we have well over 1m oz JORCs across these two licenses alone, then with some more JV partnerships going on the other licenses, and at any point we could hear of a surprise offer for Senegal, the next few qtrs could be very exciting and drive our MCAP towards three figures and who knows a decent offer from someone....

Still a gamble, but one I think is relatively derisked for the short term with the current JV and funding deals, but all could change one way or another with results... As they say you have to be in it to win it, and I'm very much in.

Either way, I think a good stable SP at these levels, with some new investors coming on board from the various activities the team are doing to promote will be very welcome whilst we wait for the news that will take us to the next level.

Good news

Yeah I think .6 could be a base with another JV being announced and some decent drill results out of Bibimi then if trench results are promising out of Mbe we could be sitting very nicely!! Good luck all.

Todays update is important, a two year extension of the 5 licences in Cameroon, it leaves the door open for ORR to complete new JV deals on the 4 that are not covered in the current BCM JV.

If you were a potential JV partner, remember ORR have telegraphed they are seeking new partnerships, then you would want security of the licence in question.

More positive news today, so far not picked up by the market, the last JV deal took the SP to .57p in quick time !