Member Info for Mayo51

The presentation is on the website now

https://orioleresources.com/investors/reports-presentations/

OilNovice,

Thanks, that’s fine, the Senala JV is moving towards producing whereas the Mbe/Bibemi JV’s are closing out the drilling as defined in the November RNS.

They do seem to have a good relationship with BCM so I wouldn’t be surprised, especially with the recently costed Bibemi small mine proposal, to see it continuing to move forward with them.

Anyway, the other positive is that they’re not looking to dilute their assets which hopefully suggests funding options, say for initial mine set-up costs, may be available.

Wouldn’t worry, it was probably an edited report, a defamation case pending and the personnel responsible have resigned.

Hopefully, all good news, sounds like we won’t remain at $25/oz for long.

Hi OilNovice,

Sorry, I sped through it earlier, just read your post again, when Bob is finalising the JV with BCM for Mbe and Bibemi, are they talking about a potential Mining JV?

Thanks OilNovice/Buythose,

Sounds exactly like what I picked up at the last 2 presentations, they do want to be a producer and their good working relationship with the Cameroon authorities.

Sounds all very positive!!!

Did you register?

No afternoon RNS and I’m going to miss the webinar, hopefully I’ll be able to pick it up on their website later.

Also, only just seen, the questions had to be submitted by yesterday, oh well.

I, too, have been hoping for a Senala update, anyway I’ve forwarded the following questions for tonight’s Webinar:-

Senala Update - Bob mentioned at the April 2025 Presentation that a Senala JV Proposal had arrived on his desk the night before - Given the large Gold price increases since, what is the latest, how are the negotiations progressing, are they positive, is it likely to be a JV mine or a Managem buyout

Bibemi Potential Mine - although I appreciate the smaller mine initial proposal, I presume a BCM JV is likely, can we anticipate any Cameroon-based funding, i.e. Government-backed loans, grants, funding, etc to support the initial mine setting up costs

Anyway, I appreciate they'll be restricted in anything that they can disclose but I think it's worth raising them.

Regards,

Makes you think what Managem should be paying for Senala, should’ve done a deal a year ago, no wonder it taking so long to finalise

Thanks GOH,

I’m trying to recall the calculations for the initial small mine at Bibemi but I think it was close to circa $2,000/oz including a circa $60m start up/set up and $1,200/oz production costs.

Of course, this $60m is paid once and when the mine is expanded our production costs will continue and possibly reduce with greater quantities.

It would be crazy not to continue into mining and sell our assets for less than $100/oz.

Yes indeed, an excellent 1st drill hole, they usually issue drill results for 4 holes at a time, if they continue with 2 at a time we could expect further results next week and fortnightly thereafter.

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company focused on West and Central Africa announces that, following an exercise of warrants over ordinary shares in the Company, application has been made for 107,925,555 new ordinary shares of 0.1p each ("Ordinary Shares") in the Company to be admitted to trading on AIM on 15 January 2026 ("Admission"). The exercise price of the warrants is as set out below:

Instrument

Exercise Price (pence)

Number of New Ordinary Shares to be admitted

Aggregate Price

Warrants

0.25

107,925,555

£269,814

The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

Following Admission, a total of 869,662,686 warrants and 399,916,245 options over Ordinary Shares remain outstanding (representing approximately 17.85% and 8.21% respectively of the Company's enlarged issued share capital).

Total Voting Rights

Following Admission, the Company's issued share capital will be 4,872,268,356 Ordinary Shares and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

And Mbe represents only circa 15% of the overall Eastern CLP package

I tried a 2m dummy sell and was quoted 0.3136, says it all really

It’s all good news, the 1st 2 holes which are normally more investigatory in determining the best drilling locations/sequence.

Also, this drilling campaign should be complete by the end of February so the results from the remainder of the drilling campaign will arrive quickly.

They previously extended them by 6 months, although the Directors warrants expired, they may do the same again.

Happy New Year everyone ⏰🎉🥳🎊🧧🎍

Looks like they’ve been reading GOH’s posts over the last 30 days….

Thanks BIKWIK/GOH,

Definitely meet up in the New Year, either when we hit the 0.40’s or at an Investor Presentation, etc.

Looking forward to a highly productive 2026, good luck all!!!