Member Info for Mayo51

And an AGM on Thursday to look forward to, further news this week is eagerly awaited

Yes, definitely, I agree that we should now be looking at Pokor and Ndom too.

I assume the Exploitation Licence are holding them up, we’ll get much better deals on all future exploration if we can already demonstrate that it can lead to the granting of an Exploitation Licence.

Excellent, especially Hole 44, continuing to show 29m depth of gold, looks like we may need further step out drilling.

It must be worth another couple of holes beyond 44.

Drilling should be complete this week with the updated MRE in about a month hopefully.

Some possibly outstanding news prior to the AGM, now only 10 days away, keep the faith

GG, I’m expecting they’ll be arriving like London buses!

Thanks Ben, I’m just looking for an indication of the true worth of our previous 45%, before this purchase, of our Mbe stake.

Also, gives us an idea on Senala’s value.

Just out of interest, assuming a 1.5m oz Mbe, what is the Net Smelter Royalty, NSR, really worth.

1.5m oz x $4,500/oz x NSR/GSR % x 1%

Https://www.miningreview.com/magazine-article/exploration-in-cameroon-oriole-projects-now-host-more-than-a-million-ounces-of-gold/

BIKWIK, it has certainly felt upbeat since Martin’s reply to you, hopefully we get confirmation early next week.

Gemini’s Response:-

Oriole Resources is targeting the first half of 2026 (specifically by the end of Q2 2026) to secure the Exploitation Licence for the Bibemi gold project in Cameroon.

The application process reached a few major milestones leading up to this timeline:

Environmental Approval: In November 2025, the company received formal approval for its Environmental and Social Impact Assessment (ESIA) from Cameroon's Ministry of Environment, which cleared a critical statutory hurdle.

Technical Submissions: In late December 2025, Oriole submitted an amended detailed technical report—including a Preliminary Economic Assessment (PEA) for an open-pit mine scenario—to the Ministry of Mines to expedite the Exploitation Licence Application (ELA).

Current Status: Negotiations regarding the commercial terms, tax, and customs regimes with the Cameroonian government are underway, with a completion and license issuance target set for mid-2026

Yes, I agree, it’s certainly very positive

I know, a bit like a vote of confidence from the Chairman the week before a football manager gets sacked.

Shame he didn’t have a pen

Well done BIKWIK, I should be attending the AGM, it starts at 11am on 11th June, although I’ve got a meeting at 2pm in Milton Keynes.

I’ll try and delay that one, hopefully we’ll get a few at the AGM, the fact that Martin is currently in Cameroon provides renewed hope.

Anyway, Mbe-S step out drilling results potentially next week

Precisely, and we shouldn’t attempt to force our opinions on others.

The AGM is not far away now, on 11th June 2026, any shareholders are welcome to share their frustrations, or otherwise, then.

We’ll get a much better feel of everything then.

The Exploitation Licence is the key next step, not only to add certainty and open up the share price but to attract investment into opening up the assets.

There’s no incentive for further investment unless you’ve got a licence to realise it.

Ideally, we’d want to carry out infill drilling straight after the completion of step out drilling, could be in June, we’re a month in and must be halfway through.

We’d want to get an Exploitation Licence, increasing value, before agreeing any further buy-ins, to increase what we’re getting and reduce what we’re giving away.

Hi Arsenal,

The step out drilling is funded, it’s the first I’ve heard about infill drilling, Claire mentioned at reducing it down to 100m centres.

Presumably, if the step out drilling substantially increases the resource, BCM realise that the $1m bonus payment becomes payable when it passes 1m oz as long as 50% are indicated, with a further $1m for exceeding 2m oz.

Wouldn’t it seem sensible, even though it’s not yet due, to use this as Oriole’s 50% contribution (BCM would have to contribute 50% too) for infill drilling which further increases the value/viability of Mbe.