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Pin to quick picksOriole Share News (ORR)

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Share Price: 0.31
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Change: -0.005 (-1.59%)
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AIM WINNERS & LOSERS: Oriole inks earn-in deals; Velocys sinks

Mon, 20th Nov 2023 10:55

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.




Oriole Resources PLC, up 62% at 0.166 pence, 12-month range 0.07p-0.28p. The West Africa-focused signs two non-binding heads of terms with Ghana-based mining and civil contractor BCM International Ltd for earn-ins by BCM at its Mbe gold licence in central Cameroon, and its Bibemi gold project in the north of the country. BCM will earn up to 50% interest in both, in return for certain staged commitments. The Bibemi HoT will see a payment of USD500,000 in cash from BCM to Oriole before the end of the year, and a commitment from BCM for USD4 million in exploration expenditure. The Mbe license HoT will also see BCM pay USD1 million cash, and commit USD4 million to exploration expenditure. "The structure of the deal sees a significant inflow of direct investment into resource development which will help fast-track our pathway to development. Whilst Oriole will be the operators of the early works, BCM will supply equipment and drilling capacity, with both parties working on an open book system as true partners in the venture," says Oriole CEO Tim Livesey of the Bibemi deal.


RUA Life Sciences PLC, up 47% at 23.2p, 12-month range 11.13p-67p. The medical technology holding company focused on implantable biostable polyurethane Elast-Eon reports developments across its various businesses. Its Contract Manufacture responded to a formal bid request for a product range within its "implantable textiles sweet spot", which has a potential revenue value of around GBP1.5 million, with another bid request expected in the coming months for a value of GBP500,000. Its Structural Heart Unit is exceeding expectations in terms of the development and testing of its material for the creation of heart valve leaflets. It expects to formalise an agreement soon to provide the material to a large heart valve company for its own testing. Its Vasular unit is now fully prepared to begin the testing regime agreed with the US Food & Drug Administration to achieve 510k approval. The budget would be around GBP6 million, and it plans not to fund the trials itself, instead exploring other options for third party funding, given the current cost of capital.


musicMagpie PLC, up 25% at 23.43p, 12-month range 14p-46p. The Stockport, England-based used-technology reseller confirms it is in "early stage discussions" with telecommunications provider BT Group PLC and asset manager Aurelius Group for the pair to make a takeover offer for musicMagpie. Talks are "ongoing and remain at a very early stage", musicMagpie says. There is no certainty that an offer will be made, it says, but BT and Aurelius have a deadline of December 18 to announce a firm intention to make an offer or walk away.




Velocys PLC, down 60% at 0.279p, 12-month range 0.2p-5.8p. The sustainable fuels technology company receives a non-binding all-cash takeover offer from a consortium led by Lightrock LLP and Carbon Direct Capital Management LLC. The offer forms part of ongoing discussions with potential strategic investors over long-term funding for the business. The consortium offers 0.25p per share, valuing the firm at GBP4.1 million. The price represents a substantial discount, 63%, to the firm's closing price on Friday of 0.68p. The consortium has indicated its intention to provide "significant additional funding" to meet growth capital needs, as well as any near-term funds needed to complete the proposed takeover. "The evaluation of the proposal by the board and its advisers is ongoing and the board recognises that it should assess the proposal as a whole in light of the company's very near-term funding requirements and significant long-term funding needs...The board is continuing engagement and discussions with the consortium and its advisers with a view to progressing and recommending the proposal," Velocys says


By Elizabeth Winter, Alliance News deputy news editor

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19 Feb 2024 14:33

IN BRIEF: Oriole Resources: AGEM completes six-year Senala earn-in

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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22 Jan 2024 10:34

Oriole shares skyrocket as strong results delivered at Mbe project

(Alliance News) - Oriole Resources PLC on Monday said sampling results at its 90%-owned Mbe orogenic gold project in Cameroon has revealed "very strong results", and that BCM International Ltd has now confirmed it has completed its due-diligence review at the project.

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22 Jan 2024 10:07

AIM WINNERS & LOSERS: Oriole receives samples from Mbe project

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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19 Jan 2024 10:56

Oriole Resources up after inking earn-in for Cameroonian Mbe licence

(Alliance News) - Oriole Resources PLC on Friday confirmed a second earn-in at its licences in north Cameroon.

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15 Jan 2024 12:09

IN BRIEF: Oriole Resources jumps on new MRE for Bakassi zone 1

Oriole Resources PLC - west Africa-focused gold exploration company - Notes updated inferred mineral resource estimate for Bakassi zone 1 at its 82.2%-owned Bibemi orogenic gold project in Cameroon. Says MRE is 375,000 Troy oz gold grading 2.30 grams per tonne. Chief Executive Officer Tim Livesey comments: "We have been pleased to see the maiden resource support this pit expansion and deliver not only additional tonnes, but also at a higher grade. As we progress toward our fifth phase of drilling at Bibemi, with our partners BCM, we look forward to further expansion of the Bakassi zone 1 resource. We are also keen to test and define the potential at the other three prospect areas. This project is shaping up to be very robust and offers the opportunity for early development of a potential multi-pit gold mining operation."

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8 Jan 2024 10:57

Oriole shares jump after receiving signature Bibemi payment from BCM

(Alliance News) - Oriole Resources PLC on Monday confirmed the receipt of an earn-in payment from BCM International Ltd related to the Cameroonian Bibemi project.

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Oriole signs first of two earn-ins with BCM for Bibemi gold project

(Alliance News) - Oriole Resources PLC on Friday signed an earn-in agreement with BCM International Ltd related to the Cameroonian Bibemi gold project.

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5 Jan 2024 07:31

Oriole Resources inks earn-in deal with BCM International

(Sharecast News) - West Africa-focussed gold explorer Oriole Resources announced the signing of a definitive earn-in agreement with BCM International for the Bibemi gold project in Cameroon on Friday.

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4 Jan 2024 07:00

CORRECT (Jan 02): Oriole says Cameroon earn-in deals to be sealed soon

(Correcting to clarify Managem Group bought into the Senala project in Senegal after acquiring AGEM Senegal Exploration Suarl.)

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2 Jan 2024 14:47

Oriole says earn-in deals at Cameroon projects to be completed soon

(Alliance News) - Oriole Resources PLC on Tuesday said that earn-in agreements for two of its Cameroon gold projects will be sealed later this month, and elsewhere, it is considering the future of an asset in Senegal.

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20 Nov 2023 11:43

Oriole shares take wing on deals to speed up work on Cameroon projects

(Alliance News) - Oriole Resources PLC on Monday announced new heads of terms for earn-in agreements with a "well-respected" Ghanaian contractor to fast-track work on its Mbe and Bibemi projects in Cameroon.

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