Proactive’s Post

Shares in Oriole Resources PLC (AIM:ORR) jumped 14% to 0.20p after the company signed an earn-in agreement for its Bibemi #gold project in Cameroon with Australia's BCM International, resulting in a second up-front payment of US$450,000. The AIM-quoted gold #explorer said the earn-in will see BCM earn up to a 50% interest in Bibemi in return for commitments including providing US$4 million in exploration expenditure and future resource-linked success-based payments. #Oriole expects drilling will start at Bibemi in the current quarter, with expenditure against the agreed funding from BCM having already begun, it said, to complete technical studies ahead of the application for an exploitation licence later this year.  Execution of a second earn-in agreement with BCM relating to the Mbe project is expected later this month. More at #Proactive #ProactiveInvestors http://ow.ly/qZ0R1057Vc5 #AIM #ORR

Oriole Resources PLC is pleased to announce: - Execution of the Earn-In Agreement with BCM International Ltd, whereby BCM will earn up to a 50% interest in the Bibemi gold project in Cameroon in return for meeting certain commitments which, in addition to the Signature Payment, include US$4 million in exploration expenditure and future resource-linked success-based payments; and - Receipt of US$450,000 Signature Payment in respect of the execution of the above Bibemi Earn-In Agreement. As previously announced, expenditure against BCM's US$4 million funding commitment at Bibemi has already commenced, with approximately US$72k received to support camp upgrades and ongoing technical studies ahead of the application for an exploitation licence in 2024. Drilling is expected to resume at Bibemi in Q1-2024 and further details on the programme will be provided in due course.   The Bibemi project currently has a maiden inferred mineral resource of 4.3 Mt @ 2.19 g/t for 305,000 Oz Au, with excellent potential to increase this resource with additional drilling.  BCM Group Oriole Resources PLC Please see links below: https://lnkd.in/g9GQvRfd  https://lnkd.in/gjwr3jNR #westafrica #Cameroon #goldexploration #goldinvestment #goldmining

Oriole Resources PLC (AIM:ORR) posted results for last year at what the gold explorer calls a "very exciting time", with two programmes underway in Cameroon's Bibemi and Mbe projects and results expected in the coming months. A loss for the year of £2.3 million was reported, inflated by a legacy impairment provision, revaluation of a receivable and an adverse foreign exchange movement, all of which had no cash-flow implications. Administrative expenses were reduced 4% and the cash outflow from operations by 59% as cash-saving measures were introduced. A lack of cash hindered exploration in the year but the cash position has significantly improved with the signing of the two agreements with BCM and since year end, Oriole has received US$1.5 million of signature payments. Chief executive Tim Livesey said 2023 was "a year of consolidation in a very difficult market for junior explorers". More at #Proactive #ProactiveInvestors #AIM #ORR #gold #explorers http://ow.ly/KK7x105nEco

Oriole Resources PLC is pleased to report that it has received two-year renewals for each of its five gold exploration licences in the Eastern Central Licence Package (‘Eastern CLP’), located in the Adamawa and North regions of Cameroon. The Licences, held through the Company’s 90%-owned subsidiary Oriole Cameroon SARL, represent a contiguous, district-scale land package covering 2,266km2 of geological terrane which is highly prospective for both gold and lithium. The Eastern CLP includes the flagship, 80%-owned Mbe licence, where BCM International Limited is currently funding up to US$4 million in exploration expenditure to earn up to a 50% interest. A 5500 metre trenching programme is underway over the MB01 area at Mbe, with results anticipated in Q3-2024 and a maiden drilling programme is anticipated in Q4-2024. Oriole retains a 90% interest in the other four Eastern CLP licences (Tenekou, Niambaram, Pokor and Ndom), which share a similar geological setting and exploration potential to Mbe.  #westafrica #cameroon #goldexploration #orr https://lnkd.in/eQ-2Bkv8 

Oriole Resources PLC (AIM:ORR) said it will shortly undertake a review of the project expenditure at the Senala gold project in Senegal and decide the next steps, where partners AGEM and Managem Group have just completed a six-year earn-in period. The AIM-listed company currently has an 85% interest in Stratex-EMC, the vehicle that holds the Senala exploration licence.   AGEM Senegal Exploration, a wholly-owned subsidiary of Managem, has spent roughly US$5.8 million on developing Senala since an option agreement was signed in early 2018.  Managem said AGEM's beneficial ownership position in the Senala licence is now estimated to be 59%, with Oriole's review aiming to confirm this percentage ownership.  More at #Proactive #ProactiveInvestors#orioleresources http://ow.ly/Oi2s105ilcy

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 

Aterian plc (LSE: ATN), the critical metal-focused exploration and development company, is pleased to provide an update on Rwandan exploration activities by its Rwandan subsidiary, Eastinco Limited ("Eastinco").   Highlights: 👉 Eastinco has been formally invited by the Rwanda Mines, Petroleum and Gas Board ("RMB") to negotiate terms for a significantly larger mineral exploration licence for the Musasa project area in Rwanda. 👉 Eastinco will exercise its option to acquire the 15 % minority partner interest from Kuaka Cooperative ("Kuaka"), its partner in the Musasa project. 👉 Eastinco announces that it has sent a joint venture termination notice to its partner, Dynasty Construction ("Dynasty"). 👉 The Government of Rwanda recently announced that it has partnered with Rio Tinto Minerals Development Limited ("Rio Tinto") to collaborate in mineral exploration activities and potential mineral development and mining operations for lithium, tin, tantalum, tungsten and associated metal deposits in Rwanda.   The Musasa licence area is known for its significant mineral potential, showing prospective mineral opportunities for #lithium, #tantalum, #niobium, tungsten, and tin. The RMB invitation to negotiate final terms for the exploration agreement marks a key step forward in Eastinco's strategic expansion within the region and, upon completion, will increase Eastinco's total Rwandan project exploration area by no less than 350 hectares to 3,100 hectares. The new licence area significantly increases the licence area from 50 hectares under the original agreement with Kuaka. https://lnkd.in/gR5AUsW7

Kainantu Resources (TSX-V: KRL; FSE: 6J0) Ltd is kicking off a financing round to raise funds for exploration at its Papua New Guinea property. The private placement includes up to 100 million shares at C$0.02 per share, with a potential gross proceeds of up to C$2 million. Vancouver-based Kainantu plans to spend around US$500,000 of the proceeds on exploration. Another $500,000 will go towards fulfilling a payment obligation to Harmony Gold (NYSE:HMY) (PNG) Exploration Limited under an Asset Sale and Royalty Agreement from April 2022. The remaining balance will be directed towards general administrative and working capital purposes. Kainantu, or KRL, is an Asia-Pacific focused gold mining company that operates four promising gold-copper projects in Papua New Guinea: Kili Teke, KRL South, KRL North, and the May River Project. More at #Proactive #ProactiveInvestors #TSXV #KRL http://ow.ly/jyQp1053lZs

Operational Update: Copper and Lithium Exploration, Botswana Aterian plc (LSE: ATN), the critical metal-focused exploration and development company, is pleased to provide an update on activities since the conclusion of the Share Purchase Agreement ("SPA") to acquire a 90 % interest in Atlantis Metals (Pty) Ltd ("Atlantis") in the Republic of Botswana ("Botswana"), as announced on 8 April 2024. Atlantis is a private Bostwana registered entity holding seven prospecting licences in the world-renowned Kalahari Copper Belt ("KCB") and three licences prospective for lithium brine in the Makgadigadi Region of Botswana. Highlights: 👉 Atlantis holds a portfolio of ten strategically located licences for #copper-#silver ("Cu-Ag") and #lithium brine (''Li'') projects in Botswana, covering 4,486.11 km2. 👉 Three licences are held, covering a combined 2,516.93 km2 within the Makgadikgadi Pans, considered highly prospective for lithium brine. 👉 Initial target generation has been completed using available airborne geophysical data and remote sensing. 👉 Three licences are prioritised for initial fieldwork for the KCB licences. 👉 Two areas of interest have been identified on the lithium brine project for field follow-up. Source: Vox Markets https://lnkd.in/eVqYsv_Q

New Licences Awarded in Botswana. Atlantis Metals Acquisition Completed. Aterian plc (LSE: ATN), the critical metal-focused exploration and development company, is pleased to announce that it has received the 'Change of Control' approval from the Ministry of Minerals and Energy in the Republic of #Botswana ("Botswana") to formally complete the acquisition of the controlling 90% interest in Atlantis Metals (Pty) Ltd ("Atlantis"), a private Bostwana registered entity holding mineral prospecting licences in of Botswana. The Company also announces the award of six new prospecting licences in the world-renowned Kalahari Copperbelt. Highlights: 👉 The acquisition of a 90 % interest in Atlantis, which holds prospecting licences in Botswana, has been completed. 👉 Six new copper-silver prospecting licences, totaling 970.08 km2, recently awarded in the world-renowned Kalahari Copperbelt ("KCB"). 👉 Atlantis hold a portfolio of ten strategically located copper-silver ("Cu-Ag") and lithium (''Li'') projects in Botswana, covering 4,486.11 km2. 👉 The original Atlantis-awarded KCB licence, announced on 8 January 2024, is 50 km east of MMG's Zone 5 deposit (92.9 million tonnes grading 2.00 % Cu and 21 g/t Ag). 👉 Three licences held, covering a combined 2,516.93 km2 within the Makgadikgadi Pans, considered highly prospective for Lithium brine. 👉 Target generation is underway, with independent consultants acquiring and reprocessing airborne geophysical data for the Kalahari Copperbelt project. Vox Markets: https://lnkd.in/ech-rjPW #RNS #VoxMarkets #ATN