The man, who can be seen wielding a hunting knife and rifle in the footage, wore a black cape with a mask during break ins at The Victoria Hotel, the Peisley Street IGA and the Orange Ex-Services' Country Club.

The black-caped man was first caught on camera after he forced entry through the front door of the Country Club on June 29.

CCTV footage depicts the man attempting to steal a machine from the reception area of the business, before fleeing the location without the machine.

Detective Inspector Bruce Grassick said the man spent almost an hour in the venue, trying to steal cash from what was actually a machine that members use to sign into the club.

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The black-caped man was next captured on camera with his face covered two weeks later after gaining entry to IGA.

The slim-built thief was believed to have gained entry into the Peisley Street store in the early hours of July 13.

CCTV footage depicts the man attempting to open the ATM for an "extensive period of time", before giving up.

Detective Inspector Bruce Grassick said the man caused significant damage to the machine but left empty handed before the arrival of staff.

The following Saturday, the cleaner of the Victoria Hotel was captured and bound at knife point by a man wearing a black cape.

Armed with a rifle, the man ordered the hotel's cleaner into a separate room, before attempting to open an ATM and poker machines.

"He has again over a period of time attempted to enter the machine, has been unsuccessful, has released the employee from the bindings and has left the premises," Inspector Grassick.

The man made off with a small amount of money from behind the bar before jumping a fence backing onto the railway, which is where he was last seen.

Inspector Grassick said the behaviour of the criminal, described as between 185-190 centimetres tall, was 'quite unusual'.

In the footage the caped man, who walks with a distinctive gait, was seen brandishing a gun which police believe they are now in possession of.

Inspector Grassick likened the long-arm firearm to a military-style weapon.

While he did not reveal where the weapon had come from, he said police had come into contact with the gun overnight on Wednesday.

Investigators have released CCTV footage as they continue to investigate the incidents and urge anyone with information to contact Orange police station on 6363 6399.