Oriole Resources PLC - Gold and base metal explorer focused on West Africa - Says that AGEM Senegal Exploration Suarl has completed its six-year earn-in period at the company's Senala gold joint venture. AGEM is a wholly owned subsidiary of Managem Group, a Casablanca, Morocco-based mining company. Managem took control of Senala in April 2023, after acquiring AGEM. Oriole's interest in the project is held through its 85% interest in Stratex-EMC Sarl, a holding vehicle for the Senala exploration licence. Managem confirmed that, since the 2018 option agreement was signed, AGEM has spent around USD5.8 million on the Senala project. As a result, AGEM's ownership of the Senegalian venture is estimated to be around 59%.
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