Last checked at 21 Nov 2023 15:03
Oriole Resources PLC
('Oriole Resources' or 'the Company' or 'the Group')
SP Angel Analyst Coverage
Oriole Resources (AIM: ORR), the AIM-quoted exploration company focussed on West Africa, announces that its broker, SP Angel, has released analyst coverage following the Company's updates yesterday on the Heads of Terms agreements signed with BCM International Limited in relation to the Bibemi and Mbe gold licences in Cameroon. The coverage is available to view on the Company's website at https://orioleresources.com/investors/analyst-coverage/.
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For further information please visit www.orioleresources.com, @OrioleResources on Twitter, or contact:
Oriole Resources Plc | Tel: +44 (0)23 8065 1649 |
Tim Livesey / Bob Smeeton / Claire Bay | |
| |
BlytheRay (IR/PR Contact) | Tel: +44 (0)20 7138 3204 |
Tim Blythe / Megan Ray | |
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Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
Samantha Harrison / Ciara Donnelly | |
SP Angel Corporate Finance LLP Ewan Leggat / Harry Davies-Ball
| Tel: +44 (0)20 3470 0470 |
Notes to Editors:
Oriole Resources PLC is an AIM-listed gold exploration company, operating in West Africa. It is focussed on early-stage exploration in Cameroon, where the Company has a maiden Resource of 305,000 oz Au at 2.19g/t in the JORC Inferred category at the Bibemi project and has identified multi-kilometre gold and lithium anomalism within the district-scale Central Licence Package ('CLP') in central Cameroon. The Company is currently working towards the completion of two earn-in agreements with Ghana-based BCM International Limited ('BCM') to fast track the Bibemi project in northern Cameroon, and the Mbe licence (part of the CLP), with BCM committing to signature payments, US$4 million exploration and resource-based success payments at each project in return for up to 50% ownership. The deals are expected to be completed by the end of 2023.
At the more advanced Senala gold project in Senegal, Oriole was advised by IAMGOLD on 26 April 2023 that AGEM Senegal Exploration Suarl ('AGEM') was now a wholly-owned subsidiary of Managem Group. As previously announced, AGEM has earned an initial 51% beneficial interest in the Senala Exploration Licence by spending US$4 million and has the option to spend up to a further US$4 million by 28 February 2024 to earn an additional 19% interest in the licence. The Company also has several interests and royalties in companies operating in East Africa and Turkey that could deliver future cash flow.