At last we have the details of the RTO of an e-commerce womenswear operation into cash shell Orogen (ORE). It is game on - this one will soar.
Orogen (ORO) has announced that it has lent another £250,000 to online e-tailer Thread 35 Ltd, trading as Sosandar. Time to panic? No. As loyal shareholders at FIML we certainly are not doing so.
Orogen (ORE) has confirmed that the second tranche of the secured loan made to Thread 35 Ltd has now been drawn down. The total amount of the loan, which is now fully drawn down, is £250,000.
Bingo. Off we go. We hope that you averaged down and got on board as we urged the other day as shares in Orogen Gold (RE) have been suspended at 1.7p ahead of a readmission document for what looks like a cracking RTO. This could be the most sizzling Adam Reynolds reverse yet.
Is Orogen (ORE) the cheapest AIM shell? It could well be. That is why, with the shares at 1.625p mid, FIML - a company owned by the family trust of Tom Winnifrith, has added to its holding. As a reminder...
We tipped this stock at the end of March at a 0.01p offer. The target to sell is 0.016p (soon to be 4p post a share consolidation). The tip reads:
The arrival of Colin Bird at Orogen Gold (ORE) has, given the company a new lease of life something Colin and technical director Ed Slowey explain below.
And the final video interview from Gold & Bears is with my old pal Colin Bird of Orogen Gold (ORE). Enjoy.
And now it is my old pal Colin Bird who has just taken the helm at tiny Orogen Gold (ORE)presenting at Gold & Bears. Enjoy...
Entrepreneurially-flavoured AIM dog Orogen Gold (ORE) is making excited noises about ‘preliminary interpretations’ of its latest drilling programme at the Mutsk gold project in Southern Armenia, which it claims suggest new gold zones and extensions to the existing zone already identified there. Chaired by colourful wheeler-dealer and shellmeister Adam Reynolds, the company, which began its AIM life as aspirant though ultimately unsuccessful gym equipment supplier MeDa Vinci but recently recruited indefatigable small mining company player Colin Bird as chief executive, indicates the drilling has revealed shallow gold-bearing intervals with enhanced grades.
If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at shares in Kuala Innovations (KUL), Orogen Gold (ORE), Strategic Minerals (SML), and setting share price targets for all three stocks
You have to feel for Orogen Gold’s (ORE) directors and shareholders. On Monday, the company announced seemingly upbeat drilling results from its Mutsk gold project in Armenia. Robert Tyerman reported on this here and quoted CEO Ed Slowey that Orogen “will need further funding”. By the close on Tuesday, Orogen’s share price had risen to an intraday high of 0.18p and closed at 0.16p. Then came the hammer blow, a £1.125million placement priced at 0.11p. Just as it looked like Orogen’s recovery story might be able to gain some momentum, in stepped the City to swipe its legs from under it.
An ebullient-sounding Ed Slowey, Chief Executive Officer of unloved AIM company Orogen Gold (ORE), says he will be bombarding investors in the coming weeks with further drilling results from the Mutsk project in southern Armenia, after announcing intercepts of up to 60 metres with 1.21 grams of gold per tonne of ore, including 20 metres with 3.11 grams a tonne. Orogen obtained these results, hailed by Slowey as ‘very significant’, by step-out drilling at Mutsk, which is 30 km away from the Amulsar gold project, where Toronto-listed Lydian International claims a four million-oz. gold deposit with one gram a tonne, of which 2.3 million oz. with 0.75 grams a tonne ‘proven and probable’.
One million oz. of gold ‘and maybe quite a bit more’ is what unloved AIM minnow Orogen Gold (ORE) has as its ultimate goal, at Mutsk in southern Armenia. The company is now preparing to start a new drilling campaign that it expects to cost up to £500,000 in its first phase. So says Ed Slowey, the Irish geologist who runs the company and knows the area well, though he admits ‘we are nowhere near seeing that yet.’
