David Pelham’s Post

Oriole Resources PLC – pleased to announce Heads of Terms agreements (HoT) on two transformative deals with BCM International, to advance Oriole’s Bibemi and Mbe gold projects in Cameroon. BCM Group is a highly established Australian mining / civils contractor, headquartered in Ghana for the past 30 years, with a huge list of past mining projects and blue-chip clients.  These deals see BCM earning in up to a 50% position on the Bibemi and Mbe licences, with a total $9.5m investment, and various success-based payments to Oriole further down the line, the level of which is subject to the number of resource ounces reported under JORC. The deals also allow Oriole to continue managing the exploration activities at Bibemi and Mbe, while retaining complete control over the remaining 4 licences in the highly-prospective Eastern Central Licence Package (CLP). On-the-ground fieldwork expected to start in Q1-2024. #goldexploration #cameroon #westafrica For Bibemi agreement see - https://lnkd.in/ejXYPpXW For Mbe agreement see - https://lnkd.in/eaWxMUS7