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Oriole Resources PLC (GB:ORR)
LSE:ORR

Oriole Resources PLC (ORR) AI Stock Analysis

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GB:ORR

Oriole Resources PLC

(LSE:ORR)

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Neutral 54 (OpenAI - 5.2)
Rating:54Neutral
Price Target:
0.37 p
▲(26.55% Upside)
Action:N/ADate:01/04/26
The score is primarily held back by weak operating fundamentals (no revenue) and ongoing cash burn, despite a strong low-debt balance sheet. Technical indicators are moderately supportive, while valuation is constrained by negative earnings and no dividend signal.
Positive Factors
Low leverage / strong balance sheet
Oriole's near-zero debt and ~11.9m equity base provide durable financial flexibility versus typical early-stage explorers. Low leverage reduces refinancing risk, preserves optionality to fund exploration, and strengthens the company's ability to negotiate farm-outs or joint-venture funding over the coming months.
Improved asset base / liquidity runway
An increase in total assets in 2024 indicates a stronger liquidity position and a longer funding runway. This structural improvement supports planned drilling and technical work, lessens immediate dilution pressure, and gives management time to de-risk targets or arrange partner financing on better terms.
Narrowing net loss trend
The sharp reduction in net loss in 2024 signals improving cost discipline or the fading of one-off charges. If sustained, this durable trend materially reduces near-term financing needs, improves capital efficiency metrics, and enhances the company's bargaining position for partnerships or asset transactions.
Negative Factors
Pre-revenue business model
Oriole remains structurally pre-revenue, meaning it must rely on equity raises, asset sales, or partner funding to finance operations. Over a 2–6 month horizon this elevates execution risk, constrains strategic choices, and increases the likelihood of dilution until a discovery is advanced or a monetization event occurs.
Persistent cash burn
Consistent negative operating cash flow and a worsening 2024 outflow indicate ongoing cash consumption. This structural cash burn necessitates recurring capital raises or farm-outs, limiting the pace and scale of exploration activity and creating longer-term dilution or transaction pressure if exploration results do not accelerate value realization.
Negative returns on equity
Persistent negative ROE demonstrates weak capital efficiency and continued unprofitable operations despite low leverage. Structurally this undermines investor returns and raises pressure to generate a material discovery or to sell/partner assets to convert exploration value into realized returns for shareholders over the medium term.

Oriole Resources PLC (ORR) vs. iShares MSCI United Kingdom ETF (EWC)

Oriole Resources PLC Business Overview & Revenue Model

Company DescriptionOriole Resources PLC, together with its subsidiaries, engages in the exploration and development of gold and other base metals in Turkey, East Africa, and West Africa. It primarily holds 85% interest in the Senala project covering an area of 472.5 square km situated in Senegal; and 90% interest in the Bibemi and Wapouzé projects located in Cameroon. The company was formerly known as Stratex International Plc and changed its name to Oriole Resources PLC in September 2018. Oriole Resources PLC was incorporated in 2005 and is headquartered in London, the United Kingdom.
How the Company Makes MoneyOriole Resources PLC is a pre-revenue/early-stage exploration company, and specific, recurring operating revenue streams are not publicly available in the provided context; therefore, details of how it makes money (e.g., sales revenue from production) are null. In general, companies at Oriole’s stage typically seek to create value by (i) increasing the geological confidence and scale of exploration targets through drilling and technical studies, and (ii) monetizing that value via asset transactions or partnerships (e.g., farm-outs/joint ventures, option agreements, or sale of project interests), as well as potential future development if a discovery is advanced to production; however, Oriole’s specific realized revenue sources, fees, or transaction terms are not available here, so any company-specific breakdown of key revenue streams and significant partnerships contributing to earnings is null.

Oriole Resources PLC Financial Statement Overview

Summary
Financials reflect an early-stage explorer: no revenue and ongoing losses (weak income statement), and continued cash burn with worsening 2024 operating and free cash outflows (cash flow weakness). Offsetting this is a conservatively positioned balance sheet with essentially no debt and a solid equity base, providing some funding resilience.
Income Statement
18
Very Negative
The company reports no revenue across 2020–2024, consistent with an early-stage explorer rather than a producing miner. Losses are persistent, with operating losses remaining sizable in 2024 (EBIT of about -1.5m) and profitability still negative. A positive is that the net loss narrowed sharply in 2024 versus 2023 (from roughly -2.2m to about -0.2m), but overall earnings quality remains weak due to the absence of revenue and ongoing cost base.
Balance Sheet
72
Positive
The balance sheet is conservatively positioned with essentially no debt (debt-to-equity near zero across the period) and a solid equity base (~11.9m in 2024). Total assets increased in 2024 versus 2023, supporting liquidity and funding runway. The main weakness is continued negative returns on equity (still negative in 2024), reflecting ongoing losses and limited current profitability despite low leverage.
Cash Flow
27
Negative
Cash generation remains a concern: operating cash flow is negative each year, and 2024 operating cash outflow (~-1.4m) worsened versus 2023 (~-0.5m). Free cash flow is also negative throughout, with a notably larger outflow in 2024 (~-4.2m), indicating elevated investment/spend levels. While free cash flow relative to net loss appears strong mathematically in 2024 (because the net loss is small), the core issue is the business continues to consume cash rather than produce it.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit-7.00K-4.00K-7.00K-8.00K-9.00K-8.00K
EBITDA-2.00M-285.00K-2.42M-515.00K-1.57M-391.00K
Net Income-1.99M-225.00K-2.22M-1.57M-1.57M-320.00K
Balance Sheet
Total Assets15.41M14.65M12.01M12.13M13.16M11.97M
Cash, Cash Equivalents and Short-Term Investments525.00K1.32M707.00K507.00K1.36M1.75M
Total Debt0.000.000.004.00K7.00K12.00K
Total Liabilities4.20M2.77M607.00K248.00K567.00K287.00K
Stockholders Equity11.21M11.92M11.69M12.12M12.73M11.93M
Cash Flow
Free Cash Flow-1.34M-4.18M-854.00K-2.16M-2.87M-1.12M
Operating Cash Flow-1.34M-1.44M-525.00K-1.30M-1.07M-927.00K
Investing Cash Flow111.00K881.00K-171.00K-444.00K-1.75M147.00K
Financing Cash Flow909.00K1.15M303.00K895.00K2.43M2.37M

Oriole Resources PLC Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
54
Neutral
£14.13M-3.27-17.24%
52
Neutral
£7.29M-0.56-47.73%93.10%-150.00%
48
Neutral
£9.07M-163.55-14.14%
48
Neutral
£7.16M-0.83-110.53%
46
Neutral
£3.84M-1.95-86.67%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:ORR
Oriole Resources PLC
0.29
0.12
70.59%
GB:WSBN
Wishbone Gold
30.00
20.00
200.00%
GB:GRL
Goldstone Resources
0.55
-0.45
-45.00%
GB:CORA
Cora Gold
8.00
1.10
15.94%
GB:PALM
Panther Metals Plc
82.50
42.50
106.25%
GB:HAMA
Hamak Gold Limited
0.85
0.23
37.10%

Oriole Resources PLC Corporate Events

Business Operations and Strategy
Oriole Resources Ends Mbe MB01-N Drilling With Best Gold Intersections Yet
Positive
Mar 16, 2026

Oriole Resources has reported final results from its maiden diamond drilling programme at the MB01-N target on the Mbe gold project in Cameroon, highlighted by a best intersection of 56.20 metres at 0.99 grams per tonne gold from near surface in hole MBDD039 and 21.30 metres at 1.22 grams per tonne in hole MBDD038. The latest holes confirm mineralisation over a north-south strike of about 700 metres that remains open, and the data will underpin a maiden JORC resource for MB01-N expected in the second quarter of 2026, which the company anticipates will significantly add to the existing 870,000-ounce resource at nearby MB01-S and be complemented by a fully funded 2,500-metre step-out drilling programme there aimed at increasing the overall resource base at Mbe later this year.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.37 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole Resources Extends Gold System at Cameroon’s Mbe Project With New MB01-N Drilling Results
Positive
Feb 26, 2026

Oriole Resources has reported further positive diamond drilling results from the MB01-N target at its 50%-owned Mbe gold project in Cameroon, including broad mineralised intervals in holes MBDD034 and MBDD035 and the deepest intersection yet, extending the system to about 194 metres and remaining open in all directions. The latest results, which support the geological similarity and potential upside to the existing 870,000oz JORC Resource at nearby MB01-S, are intended to help convert the MB01-N Exploration Target into a maiden JORC Resource in Q2 2026, ahead of a fully funded step-out drilling programme at MB01-S and the formalisation of a 50/50 joint venture structure for the project.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.37 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole completes maiden drilling at Mbe as BCM secures 50% stake
Positive
Feb 20, 2026

Oriole Resources PLC, an AIM-quoted gold explorer focused on Central and West Africa, is building a portfolio of gold assets centered on its flagship Mbe project in Cameroon. The company has delineated significant JORC-compliant Resources and Exploration Targets across Mbe, Bibemi and Senala, underpinning its strategy to advance early-stage discoveries into more mature, de-risked assets through funded partnerships.

The company has completed a 3,000-metre maiden diamond drilling programme at the MB01-N target at Mbe, enabling partner BCM International to earn a 50% beneficial interest in the project. With strong initial assay results and further drill data due in Q1 2026, Oriole plans to publish a maiden JORC Resource for MB01-N and launch a fully funded step-out drilling campaign at the existing 870,000-ounce MB01-S deposit in Q2 2026, potentially expanding the project’s overall resource base and reinforcing its regional growth profile.

BCM’s earn-in at Mbe follows its earlier completion of a 50% earn-in at Bibemi, highlighting the role of third-party funding in advancing Oriole’s exploration pipeline. As the company moves toward joint venture formalisation at Mbe and continues JV discussions at Senala, its model of leveraging partners’ capital is expected to reduce funding risk while preserving exposure to exploration upside for shareholders.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.37 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole Resources flags new research as Mbe gold footprint grows
Positive
Feb 12, 2026

Oriole Resources PLC, an AIM-quoted gold explorer focused on Central and West Africa, is advancing district-scale projects in Cameroon, including its flagship Mbe licence where it has defined an inferred resource of 870,000 ounces of gold at the MB01-S deposit and an exploration target of up to 605,000 ounces at MB01-N. The company also holds a 50% stake in the Bibemi project with a 460,000-ounce resource and a minority interest in the Senala project in Senegal, which carries a 155,000-ounce resource and a larger exploration target, while partners BCM and Managem have earned significant project interests through multi-million dollar exploration spend.

The company announced that Greenwood Capital Partners has published a new commissioned research report titled “Mbe North footprint continues to expand,” underscoring growing interest in the Mbe project’s upside. With fully funded drilling under way at MB01-N aimed at converting exploration targets into resources, BCM earning up to 50% at Mbe, and joint venture discussions progressing at Senala, the report highlights Oriole’s increasing resource base and the de-risking of its West African portfolio, which could strengthen its position among junior gold explorers and enhance value prospects for shareholders.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.37 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole Resources Extends Mineralised Zone at Cameroon’s Mbe Gold Project
Positive
Feb 12, 2026

Oriole Resources has reported further encouraging drill results from its maiden 2,950m diamond drilling programme at the MB01-N target on the Mbe gold project in Cameroon, with all three newly assayed holes intersecting gold and extending the mineralised system to at least 300m in width, 550m in length and 185m in depth, remaining open in all directions. With the fully funded programme now about 90% complete and a maiden JORC Resource for MB01-N planned once drilling finishes in early Q2 2026, the results reinforce the upside to Mbe’s existing 870,000oz JORC Resource at the nearby MB01-S deposit and support Oriole’s plans for further drilling and a 50% project interest earn-in by partner BCM International.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.37 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Oriole Resources Updates Total Voting Rights After Warrant Exercises
Neutral
Feb 2, 2026

Oriole Resources PLC has confirmed that, following the recent exercise of warrants and the issuance of new ordinary shares, its total issued share capital now stands at 4,872,268,356 ordinary shares, each carrying one voting right, with no shares held in treasury. This updated total voting rights figure provides the new reference denominator for shareholders assessing disclosure thresholds under UK regulatory rules and reflects the company’s ongoing capital structure evolution as it advances its gold exploration portfolio across Central and West Africa, including key projects in Cameroon and Senegal where resource delineation, drilling programmes and joint venture arrangements are progressively de‑risking and funding future development.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.36 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole Resources Awards Share and Shadow Options After Mbe Gold Resource Milestone
Positive
Jan 27, 2026

Oriole Resources has granted 12 million new share options to its Executive Director Exploration, Claire Bay, and a senior member of management, recognising their role in delivering a maiden mineral resource at the Mbe gold project in Cameroon and further underpinning management’s alignment with shareholders. The options, exercisable at 0.35 pence and vesting in tranches through 2028, are complemented by the award of 6 million shadow share options to Cameroon-based staff, a move aimed at rewarding local teams for recent exploration success and strengthening retention and incentives as the company advances its growing portfolio of gold assets in Cameroon and West Africa.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.36 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole Resources Extends High-Grade Gold Mineralisation at Cameroon’s Mbe Project
Positive
Jan 26, 2026

Oriole Resources has reported further significant gold intersections from its maiden 2,950-metre diamond drilling programme at the MB01-N target within the Mbe project in Cameroon, including a standout interval of 16.10 metres at 2.49 g/t gold from hole MBDD027, which also delivered the deepest mineralisation seen at the target to date and confirmed continuity of the mineralised structure along strike and to at least 160 metres vertical depth. With the fully funded programme now about 70% complete and more than 2,000 metres drilled, the company expects to finish the campaign later in the first quarter of 2026 and then commission a maiden JORC Resource estimate for MB01-N, which would add to the existing MB01-S resource and potentially strengthen Oriole’s overall project scale and attractiveness to investors and industry partners.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.36 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole Resources Publishes Investor Presentation as African Gold Projects Advance
Positive
Jan 16, 2026

Oriole Resources PLC has made available on its website the materials and recording from its recent online investor presentation and Q&A session, offering shareholders and potential investors detailed insights into its West and Central African gold exploration portfolio and ongoing work programmes. The release underlines the company’s progress at key assets including Mbe and Bibemi in Cameroon and Senala in Senegal, where partners BCM and Managem Group subsidiaries have completed major earn-in phases by funding multi-million-dollar exploration programmes, reinforcing Oriole’s partnership-led growth strategy and supporting the potential for resource expansion, future joint ventures and longer-term value creation from its African gold assets and royalty interests.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.29 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Private Placements and FinancingRegulatory Filings and Compliance
Oriole Resources Issues 108 Million New Shares Following Warrant Exercise
Neutral
Jan 12, 2026

Oriole Resources has announced the exercise of warrants resulting in the issue and admission to AIM of 107,925,555 new ordinary shares at an exercise price of 0.25 pence, raising £269,814, with the new shares ranking pari passu with existing stock. Following this admission, the company’s issued share capital will increase to 4,872,268,356 ordinary shares, while substantial warrants and options remain outstanding, and the updated share count will serve as the new reference point for investors calculating their holdings and disclosure obligations under UK transparency rules.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.30 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole Resources Publishes New Greenwood Research on Mbe North Drilling Progress
Positive
Jan 7, 2026

Oriole Resources PLC announced that Greenwood Capital Partners has published a new commissioned research report on the company, titled “First holes at Mbe North hit home,” which is now available via Oriole’s website. The release underlines ongoing drilling and resource expansion efforts at key projects including Mbe and Bibemi in Cameroon and Senala in Senegal, where recent earn-ins by partners BCM and Managem’s subsidiary AGEM have brought significant third-party investment and advanced the projects towards potential joint ventures and future production, reinforcing Oriole’s position as a leveraged exploration play on West and Central African gold.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.30 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole Strikes High-Grade Gold in First Drilling at MB01-N in Cameroon
Positive
Jan 7, 2026

Oriole Resources has reported the first assay results from its maiden 2,950m diamond drilling programme at the MB01-N target on its 90%-owned Mbe gold project in Cameroon, with the first two holes delivering multiple significant near-surface gold intersections, including 21.7 metres at 3.13 g/t gold and a peak interval of 1 metre at 42.5 g/t gold. The company says MB01-N shows strong geological similarities to the nearby MB01-S deposit, where it has already defined a 870,000-ounce JORC Inferred Resource, and notes that MB01-N carries a substantial JORC Exploration Target of 370,000 to 605,000 ounces; with the fully funded programme nearly half complete and due to finish in the first quarter of 2026, these early high-grade results bolster the potential to convert the target into a formal resource and could significantly enhance the overall scale of Mbe ahead of partner BCM International acquiring a 50% interest in the licence on programme completion.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.30 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole Resources Plans January Online Investor Briefing on African Gold Portfolio
Positive
Jan 6, 2026

Oriole Resources PLC has announced it will host an online investor presentation and Q&A session at 5.30 p.m. GMT on 15 January 2026, open to both existing and prospective shareholders via prior registration. The event will give investors an opportunity to engage directly with management on the company’s expanding West and Central African gold portfolio, including ongoing drilling at its Mbe project, development progress at Bibemi, and the advancing JV discussions at the Senala project in Senegal, underlining Oriole’s efforts to increase transparency, update the market on recent exploration milestones and strengthen investor relations as key earn-in and resource growth milestones are reached across its assets.

The most recent analyst rating on (GB:ORR) stock is a Hold with a £0.30 price target. To see the full list of analyst forecasts on Oriole Resources PLC stock, see the GB:ORR Stock Forecast page.

Business Operations and Strategy
Oriole Resources Passes 30% Milestone in Maiden Drilling at MB01-N in Cameroon
Positive
Dec 23, 2025

Oriole Resources PLC, the AIM-quoted gold explorer active in West and Central Africa, is advancing a portfolio centred on early-stage exploration in Cameroon and Senegal, including substantial JORC-compliant resources and exploration targets at its Mbe, Bibemi and Senala projects, with partners such as BCM International and Managem Group funding significant exploration spend in return for project interests. The company has reported that its fully funded maiden drilling campaign at the MB01-N gold prospect within the Mbe project in Cameroon has passed 30% of the planned 2,950 metres, aiming to convert the existing Exploration Target into a formal resource, with initial assay results expected in the New Year, underscoring steady operational progress that could further de-risk and enhance the value of its flagship asset for shareholders and joint-venture partners.

Business Operations and Strategy
Oriole Directors Rebalance Holdings via Bed and ISA Trades as African Gold Projects Advance
Neutral
Dec 19, 2025

Oriole Resources PLC has reported director dealings involving Chief Financial Officer Robert Smeeton and Executive Director of Exploration Claire Bay, who executed Bed and ISA transactions on 18 December 2025, each selling and then immediately repurchasing several million shares at 0.28 pence to move holdings into tax-efficient Individual Savings Accounts. Following these trades, Smeeton’s beneficial ownership stands at 47,002,118 shares, or 0.99% of the company’s issued share capital, while Bay now holds 16,298,491 shares, or 0.34%, signalling portfolio reorganisation rather than a directional change in insider exposure as the group advances its core gold exploration projects in Cameroon and Senegal with multiple partners in place.

Other
Oriole Resources Directors Restructure Holdings via Bed and ISA Transactions
Neutral
Dec 19, 2025

Oriole Resources PLC has announced director dealings involving Chief Financial Officer Robert Smeeton and Executive Director of Exploration Claire Bay, who executed Bed and ISA transactions on 18 December 2025. Smeeton sold 5.36 million shares and repurchased 5.35 million shares at 0.28 pence each into his Individual Savings Account, leaving him with a beneficial holding of 47.0 million shares, or 0.99% of the company’s issued capital, while Bay sold 3.57 million shares and repurchased 3.57 million shares at the same price, resulting in a beneficial holding of 16.3 million shares, or 0.34% of the company. The transactions are administrative in nature, aimed at tax-efficient holding rather than altering their economic exposure to the company, and underscore continued insider participation as Oriole advances its portfolio of gold exploration assets in Cameroon and Senegal in partnership with larger industry players.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 04, 2026