Member Info for Mayo51

Remind me, how long is it since they started investing in Bibemi and Mbe

Thanks Ben, just throwing it out there, could possibly see a BCM deal for Bibemi opening up the Pokor/Ndom drilling

Https://miningdigital.com/smart-mining/endeavour-mining-sells-nzema-gold-mine-bcm-international-dollar38-milion

I think any opportunity for BCM to buy Oriole out has long since passed, my point being that they have already invested circa $8 to $10m and in doing so have acquired 50% of Bibemi and Mbe.

However, the fact that BCM is actively involved gives me greater comfort that Oriole, Bibemi or Mbe won’t be sold on the cheap.

BCM, considering their major investment, will be seeking a substantial return.

To be fair, considering their sizeable investment, I always wondered why BCM didn’t just buy Oriole out a long time ago

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