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@marketwired Orca Gold Announces Non-Brokered Private Placement to Raise $15,000,000 @marketwired/orca-gold-announces-non-brokered-private-placement $ORG #news/mining $ORG intends to raise $15 million by way of a non-brokered PP of 37,500,000 units at $0.40 per unit. Each unit being one common share and a one-half share purchase warrant, with each full warrant exercisable at $0.55 for 12 months from the date of closing of the Private Placement.
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@HHorseman Reasonable terms IMHO. No big discount and thankfully not a 1-1 warrant deal (which sadly seems to be a common practice in most juniors.) $ORG
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@FundamentalAnalysis @HHorseman I think this is a good deal. I like it because the warrants are almost 40% higher, and they only have a 1yr time limit. I'd be happy to see a 40% increase within 1yr...should the warrants get to the stage where they can be exercised. No issue for me, and the warrants are more in my opinion anticipation for the next fund raise, which I think we will need to drill out Ivory coast or even better Sudan further should success ensues. .
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@HHorseman @FundamentalAnalysis Here here! Funny thing is that although the float has been discounting these projects quite a bit, the financing deal was better than most juniors would get in a T1 jurisdiction with good projects. $ORG
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from @hhorseman,
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@FundamentalAnalysis @HHorseman True, Honestly I don't like warrants normally, but its the much higher price and only 1yr time limit that changed my tune. If it was 3 or 5yrs it would be rubbish...but the warrant means the company has to move forwards fast and add value...the fact the management team said they were putting their own money into the financing means they have an incentive to get this share price above beyond 55c within a year so they can exercise the warrants. Really believe this is proper shareholder alignment. Seen so much crap when it comes to financing, this is one of the genuine ones. I'm way to optimistic, I normally trash my own companies and have many negative things to say.....but honestly this I'm an eternal bull. Orca bull....my top gold developer/explorer overtook goldquest as of today....
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anonymous @FundamentalAnalysis see observation 6:POSTERS WILL ALWAYS BELIEVE WHAT THEY WANT TO BELIEVE. Until it's too late. Simple as that. #org #newbies #mbgtrends
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from @fundamentalanalysis,
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@FundamentalAnalysis @anonymous Not true, too much of a generalisation. I've made u-turns on some of my decisions in the past. Personally I encourage people to post negative information on this stock. You should follow my comments....I'm always bearish biased in general even with stocks I own. $ORG #newbies #mbgtrends
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from @fundamentalanalysis,
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@Goldy I thought the pp would have had terms of approx. .36/share with no warrants and this would have a negative effect on the share price over the next few quarters. I think the 1/2 warrant at .55 and pp at .40/share is better for the shareholders as it shows short term support and gives those in the pp some upside with the 12 month term .55 warrants if management delivers.
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@Goldy cautiously optimistic!
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@FundamentalAnalysis Some more info . http://www.lamancha.ca/news/8-news/20-la-mancha-forms-a-strategic-alliance-with-evolution-in-australia-and-exits-from-sudan-to-refocus-its-growth-strategy-in-west-africa.html - I guess we need to look into why they decided to leave Sudan....at least it was sold to the government and not just taken. Hassai is only a small mine tonnage doesn't appear high. http://unctad.org/meetings/en/Presentation/17OILGASMINE%20Mohamed%20Abufatima%20Abdalla%20S6.pdf (The Hassai mine the open pits have been depleted, they are now involved with mining underground sulphide VMS deposit....that was the point it was sold to the Sudanese government by La Manchas (sawari family).....
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@Empire I always dislike dilution but I honestly thought that they weren't going to raise until the fall so good to rip the band-aid off and get it out of the way. This will provide them with the needed capital to focus on Sudan and maybe put some of the funds towards the start of the Ivory Coast drill program. I am hoping that the Ivory Coast can bring in some good speculative money to drive the price higher for the next raise sometime down the road
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EZYMONEY Your answer may be in who is involved in the private placement
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@MiningBookGuy $ORG PP @marketwired/orca-gold-announces-non-brokered-private-placement Lots of good stuff said over the past week. I was going to comment directly on some of it, but instead will focus on an excerpt from Eric Muschinski's email today (I'm on his free list for the #GoldInvestmentLetter, and will only share one paragraph): "Also, the company just announced a $15 million non brokered financing which includes a share at 40 cents and one half warrant at 55 cents. There is one large institutional investor taking $5MM and most of the balance is being taken by insiders/management including $1MM being invested by the CEO. However, due to our support and involvement in the last round of funding, GIL investors will be saved a block of shares in the offering." Awesome! Before I saw this, the one thing that would put me over the edge 'in favor' of this PP would be announcing that insiders/management would be taking a huge chunk. $1M from Rick Clark is a great start, and would love to see multi-millions from Lundin/Beaty too. I have warmed up to the half-warrants, knowing they are only for 12 months at a relatively high price. I think this speaks to $ORG having confidence they will get the price up, and insiders/management will very likely exercise the warrants next year. Much better to do it this way, than to have raised $20M+ at 0.40 CAD immediately. Basically, I'm 'good' with all this (though initially I was disappointed to see warrants involved). For anyone able to take part in the placement: lucky you! I would take advantage if I could, but fine sitting on all my shares bought on the market :)
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@FundamentalAnalysis @KevinS @Jayfire Thanks for the shoutouts. I think the crowdfunding idea is good, ...collate the best ideas and then try to buy as low as possible. Key is price. Personally I'm still heavy in cash/bullion and only adding for the most part to things which can make money in todays environment which I maybe "naively" believe can pick up for cheap. $ORG was my recent buy, given the share price has gone nowhere after a very positive update. (I.e fundamentally stronger). 39c now is less riskier then say 35c before where key issues needed to be rectified. $tgz for the long term looks good in a rising gold price but not neutral price environment. $ssl looks very good as long as recent acquisition works out, very much a bet on politics as oppose to gold price. I'm prefering companies which are not too dependent on gold prices in the short/mid term.......but you can pick anything if the metal markets go up and sentiment comes back everything will be going up....debating becomes irrelevant on what is good or not.
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@soulMiner @MiningBookGuy Thanks for sharing the info. It doesn't look too bad IMO. Im a holder of Cordoba and looks like we are getting royally screwed. Compared to that this seems very good!
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@FundamentalAnalysis @MiningBookGuy I've actually rejigged portfolio after GDXJ chaos to get a better blend of both. I don't want to be gold price dependent but at the same time don't want to be in very early stage explorers. Companies like $ORG, $RSG.AX, $SSL are like hybrids. I've prepared myself for $1200 gold into the future should that occur. I off course hope that I'm wrong and gold gets to $2000. The pullback in summer 2016 forced me to re-evaluate that you can't have a goldbug mindset where prices can only go up over the next 5yrs (how many gold fund managers and talking heads have said from 2016 as it was rising gold is going up next 3-5yrs- shouldn't we ask why does it have to go up?)....they can stay steady like in the 90s. Long term price of gold is cost of production according to various studies I've read, only chaos can cause the blips that we occasionally see. Most the time chaos is inflationary related chaos. On the flipside.. Regardless of what people say deflation is bad for gold and should that play out gold is only good relative to financial assets/property. During deflation you want cash and bonds....for now the middle seems the safest neutral gold prices.
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EZYMONEY Insiders appear very confident that is is the time to back up truck.
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@HHorseman An additional 1 mill from the CEO who already has 10% (with his wife) is pretty impressive.
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@FundamentalAnalysis http://www.africalegalnetwork.com/wp-content/uploads/2015/12/Sudan-Investment-Guide-2015.pdf - Exchange controls that's one of the risks, repatriating profits....a smart mgt team would be discussing with govt ministers about this now, the deal will have to be formed as a win-win. Perhaps the asset gets sold to a chinese mining company eventually that's my guess.
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@investorGator @HHorseman (i believe it was), brought up a great point recently regarding how the market "doubted and doubted" $IVN, until it didn't. I'm new to this platform, but will try to attach a "2-year Psych chart" showing IVN with Orca $ORG overlay (wud up @Newton !). http://cdn.ceo.ca/1ck8056-ORG%20--%20vs%20IVN.jpg+
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@FundamentalAnalysis The only way to keep the stock price up is if no one gets shaken out..........when people start placing market sell orders, and then people have buy limits at lower prices, market is forced down. So dont be a scaredy cat :) You are your own enemy...you are responsible for the price....technically market makers can manipulate price down as well.
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@Newton "Yeah, but..." @investorGator XD
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@HHorseman @investorGator Yes, that was me :). Your chart shows exactly what you speak of. At a time Ivanhoe was trading BELOW cash. That was one of the best examples of inefficient markets ever. Now, $ORG is not anywhere near the value of Ivanhoe's projects... yet. But I do believe that Sudan has the potential for some serious blue sky. I think there are 6moz+ ounces there. Could be much higher (and lower of course). And in a future where the perception of Sudan has materially changed for the better, buying $ORG at this time would probably turn out to be a real steal. (A lot of ifs thou!).
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@FundamentalAnalysis @HHorseman If we ever get to 6moz this thing will be taken out at a massive premium. I was just reading a marin Katusa email one of those free emails...and he always goes on about skin in the game and if they don't conversation over. $ORG fits that criteria of skin in the game that's what makes it special.....
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@FundamentalAnalysis $SSL and $ORG my two top stocks these days......should consider dumping the rest and go all in with these two.
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@HHorseman @fundamentalAnalysis For sure. I love the fact that CEO Clarke is heavily invested alongside his EX WIFE :D. Not all in mate! It's my 3-4th biggest holding thou (11.3% ATM). Second biggest gold holding.
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@FundamentalAnalysis @HHorseman Everytime we get these market downturns...it reminds me of consolidating portfolio and buying the best on the dips and not just buying anything (as tempting as it is because everything goes down)
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@HHorseman Yes totally agree!!! I end up averaging down into a more and more concentrated portfolio. Feels like corrections are a good way to "firm up" ones portfolio in terms of quality.
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@HHorseman When everything is up, it's so easy to splash away cash into anything (because risks seems smaller).
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@Brendan you've already had the huge buying opportunity over the last month in the names being cut... IMO the best of them - $rsg.ax $smf $tgz off the top of my head not sure what else was in there maybe $pru.ax $org the thing about markets is they are forward looking... this has been known for months and price reflected that a long time ago
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from #index,
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@MiningBookGuy My video on $PDI.AX from a few weeks ago: https://www.youtube.com/watch?v=fW9Zw1ognqI+ Thank you @Excelsior for posting it at CEO.CA soon after the release! I was planning to write an article to go with it. Instead, I am writing this note with various tags, especially for those who missed it and like researching new ideas that very few people are following right now. Here are some highlights to note: -shout-outs to @nick (introduced $PDI.AX to me) @1ForDaMoney & @nickzed! We need more savvy Aussies like these guys at CEO.CA :) -Finding Bargains Down Under with #RickRule - http://www.theaureport.com/pub/na/finding-bargains-down-under-with-rick-rule This article is as powerful now as when it was published in 2013. One part #ASX-Stocks, one part #Africa … I am thankful for the insights here! Also shout-outs to @TheNextBigRush & @Jayfire in relation to #Australia stock talk on #TheNextBigRush youtube channel. -Importantly, I compare $PDI.AX to $MUN. Even though they seem quite different on the surface, they both have multiple, high-potential catalysts in the near-future, #Tier1 #exploration potential, aggressively pursuing global recognition right now despite being micro-caps. It’s hard to find companies with these qualities, and even better when so few people know them. -An important comparison of #Ecuador to #IvoryCoast. I pick on $ARU …while I personally am not willing to pay a massive premium for #management & #story with so little work actually done, I commend them for getting so much attention, and highlight @Newton’s excellent interview with #KeithBarron @Newton/will-lightning-strike-twice-with-dr-keith-barron-in-ecuador-aurania-resources-aru #IvoryCoast could use some help in the #story department…but to kick things off, I think there are interesting parallels to #Ecuador being the emerging jurisdiction in #SouthAmerica, while #IvoryCoast is the emerging jurisdiction in #WestAfrica / #Africa. -But one person HAS been pushing the story…and very few investors in #NorthAmerica seem to be paying attention. Mark #Bristow has pounded the table for years, and this is perhaps the best interview (and best link I have provided) to spread the message (from #DenverGoldForum 2016, main highlights around 7 minutes in, and 15 minutes in ): http://www.denvergoldforum.org/dgf16/company-webcast/RRS:LN/ There are very few choices for early-stage gold #exploration in #IvoryCoast: $PDI.AX - my current top choice $ORG - close behind and a top pick of mine…but not a ‘pure play’ for #IvoryCoast / #WestAfrica / #exploration, considering most value is tied into the more advanced #Sudan project $MARL -Some people were very interested in this one for #IvoryCoast exposure. Now it will take a while for that to materialize (and unclear what the next steps are). We'll see what $SSL does with these properties $AOP.AX - a very interesting one that I own as well…likely more on this in the future ... it’s a very short list right now! BUT, just check this list of mid-tiers/majors with #IvoryCoast exposure: $RRS.L $NCM.AX $CEY.L $CEE $EDV $PRU $PRU.AX $TGZ $RSG.AX $SMF …and there are surely more. Again, worth thinking about in relation to #Ecuador as an emerging mining jurisdiction worldwide… There is an #opportunity in this part of the world. #DYODD, good luck!
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from ~aufrica,
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@MiningBookGuy @jr - @Goldfinger is correct. Andrew Dinning, Paul Schmiede, and Jack Hamilton all grew #Kibali (now the $RRS.L cornerstone mine) from just a couple million ounces to ~20M oz in the 2000s, when they were #MotoGoldMines. it's very similar to the $ORG team when they were at #Redback and grew #Tasiast. #SimonJackson is the cross-over between these 2 teams (director on $SWA). And $SWA management has ~20% ownership. They are near the top of the list in terms of experience/credibility.
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@Stealinator Rick Clark Orca Gold https://www.youtube.com/watch?v=sVgvK8mcr4U+
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@MiningBookGuy Orca improves economics at Block 14 in north Sudan www.northernminer.com/news/orca-improves-economics-block-14-north-sudan/1003787287/ $ORG #gold #Sudan #RedBack #Lundin #Beaty #HughStuart #water #Africa ~AUfrica #NorthernMiner #index Some highlights: "Avant-garde explorer Orca Gold (TSXV: ORG) has launched into a feasibility study at its 2.3 million oz. gold Block 14 project in northern Sudan’s Nubian Desert, after finding a #water source that could support a larger open-pit operation than the company envisaged." ... "Stuart — who had been #RedBack’s vice-president of exploration — argues #Sudan is the most geologically prospective country in Africa. “There are few places left in the world where modern #exploration hasn’t had a good go, and #Sudan is one of them. It’s got fantastic rocks, yet it’s barely been touched. From a purely technical point of view, it’s a no-brainer to explore there,” Stuart says." ... "On July 12, U.S. President Donald Trump’s administration may permanently remove a 20-year economic embargo on #Sudan. The sanctions were temporarily lifted in January under the Obama administration, giving the Sudanese government six months to improve its human rights record and resolve political and military conflicts." ... [“If the sanctions are permanently lifted, anybody is free to do business there, including bankers,” he says. “In the past, we’ve focused on the Gulf states rather than North America when it came to lining up finances for the mine. So if it does happen, it would open up a lot more opportunities for us.”]
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from ~aufrica,
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@FundamentalAnalysis @Onlyflaws Any idea re: % of net worth or amounts or anything like that....will check presentations. I like mgt with skin in the game like $ORG. I may continue backing that for more funding instead of $GQC although both are good. Never sure what the motives are when management doesn't have much of his/her net worth tied up to the company. Although $GQC have done a good job to date, keeping funds, cutting costs etc....
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from #mbgtrends,
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@FundamentalAnalysis Bought a few more at 38c. Looks like an arb opportunity almost....potential value to extract from sudan far exceeds all costs at current gold price. Permit risks appear non existant, financing risks non existant....you have "scary sudan" as your risk that's it.. I may come out looking like an idiot however time will tell. #mbgtrends
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@HHorseman @FundamentalAnalysis Well said! It's harder than one might think to be calm, collected and especially rational. As you point out, $ORG R/R is one of the best out there (that I have found).
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@FundamentalAnalysis @HHorseman I'm looking at ross beaty and lukas together if other markets look to volatile they could just lend $ORG the money to build this thing out.
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@Jayfire @FundamentalAnalysis The calm before the storm? $ORG has got all the right pieces to succeed and it's backed by the right people as we all know. I told myself I was topped out at 100k shares, but I don't think I would mind adding a few more... This is one of those stocks where I just wanna be situated in early so that I can enjoy the ride without having to chase later. Sometimes consolidation periods go on for longer than we have patience to endure, but with the benefit of hindsight those are oftentimes the best opps to add more shares.
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@FundamentalAnalysis @Jayfire What gets me interested is the short term profit potential as well as the long term. Warrants are only 1yr 55c, to have that type of financing the team must be pretty damn confident there is value to be added very quickly. Literally 44% gain within a year if it works out, and a lot more beyond that in the longer term. $ORG
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@Jayfire @FundamentalAnalysis Yes those are very favorable terms and non-dilutive. If $ORG is at $0.55 in a year's time that still wouldn't be the worst thing either. The water issue was my main reservation with this stock and from hearing Rick Clark speak, that sounds like they've got more than enough. Easily over 100k oz/year now and the DFS should turn some heads.
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@Mikegilchrist I'm new but I bought 40000 shares and felt it is either a goodbye or good buy. What benefit has this deal to the local communities. Does it offer peace against the American regime and does it invite unwanted gold diggers at your doorstep?
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@FundamentalAnalysis @Jayfire I was actually watching a documentary on sudan a while back and although Sudan appears like a very dry country and it is in the north on the surface the nubian shield has a tremendous amount of underground water reserves aka Great Nubian Sandstone aquifer. Apparently its amongst the largest freshwater sources.
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@FundamentalAnalysis @Mikegilchrist If I remember correctly sudanese are law abiding, the govt is encouraging foreign investment, and discouraging artisinal miners purely because they can't collect taxes as easily from artisinal miners. In regards to communities, locals that are employed will benefit. Not sure re: peace against american regime.
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