Oriole Resources PLC (AIM:ORR), which specialises in gold exploration in #WestAfrica, provided updates on its Bibemi and Mbe #gold projects in Cameroon. The company is nearing earn-in agreements with BCM International Limited, slated for January 2024. BCM will acquire up to a 50% interest in both projects by paying signature payments ($450,000 for Bibemi, $1 million for Mbe) and funding $4 million in exploration per project. Already, significant investment has been made in #Bibemi, with further progress expected at Mbe. Concurrently, negotiations and renewals for other projects, including Senala in #Senegal and Wapouzé, are underway, contributing to the optimistic market response. At 8.07 am, the stock traded sideways at 0.17p. It was up 11.5% on the last day of 2023 trading. More at #Proactive #ProactiveInvestors #AIM #ORR #OrioleResources http://ow.ly/4nb81057zx6
Proactive’s Post
More Relevant Posts
-
Oriole Resources PLC continued its recent upward march as it restarted #exploration at the Mbe #gold project in Cameroon. Mbe is one of two of Oriole's projects in East Africa where gold producer BCM recently agreed to fund exploration in return for a sizeable equity stake. BCM can earn up to 50% for a US$1 million signature payment at Mbe plus U$4 million in exploration expenditure and resource-linked success payments. Through a similar deal, BCM can take a 50% stake in the Bibemi, another of Oriole's projects in Cameroon. #OrioleResources that sampling is now underway at Mbe to confirm its belief that a corridor of gold mineralisation runs across all of its licences in Cameroon. Shares rose 13% to 0.35p having doubled since the start of the year. More at #Proactive #ProactiveInvestors http://ow.ly/gV20105jL66 #AIM #JSE #OTC #JLP #JBL #JUBPF
Oriole Resoruces up 13% as Mbe exploration resumes
proactiveinvestors.co.uk
To view or add a comment, sign in
-
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 flies higher as BCM confirms first Cameroon earn-in
proactiveinvestors.co.uk
To view or add a comment, sign in
-
Base Resources rocketed almost 90% as the mineral sands miner announced a merger with US-based Energy Fuels to create a global critical minerals business. Shareholders in Base will receive shares and a special dividend worth in total approximately A$0.302 (15.7p) per share, a premium of 188% to the last closing price. Two major investors in base (owning 26.5% and 24.8% of the shares on issue) have said they will vote in favour, said the statement. Development of world-class Toliara in Madagascar will be the group's focus, it added, with future monazite production from the project to be processed at Energy Fuels' operating White Mesa mill in the US. Base’s management will continue to oversee Toliara and the completion of operations and closure of Kwale operations in Kenya. The transaction values Base Resources equity at A$375 million (£195 million). Tim Carstens, Base Resources managing director,... More at #Proactive #ProactiveInvestors http://ow.ly/68Qp105qeOz
To view or add a comment, sign in
-
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
To view or add a comment, sign in
-
#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. #OrioleResources 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 #AIM #ORR http://ow.ly/qZ0R1057Vc5
Oriole flies higher as BCM confirms first Cameroon earn-in
proactiveinvestors.co.uk
To view or add a comment, sign in
-
Golden Rim Resources Limited (ASX:GMR, OTC:GMRMF) raised about A$1.7 million from the one-for-one non-renounceable entitlement offer launched last month. Eligible shareholders subscribed for a total of 141,142,538 new shares in the offer aimed at raising funds for exploration activities and work programs at the company’s #KadaGoldProject in eastern Guinea, one of the most under-explored countries in West Africa. The project has an indicated and inferred mineral resource estimate of 30.3 million tonnes at 1.0 g/t #gold for 923,000 ounces that Golden Rim intends to grow. Most of the 150-square-kilometre project area remains under-explored, presenting considerable upside for the discovery of additional #OxideGoldMineralisation. Golden Rim has commenced the process to place the shortfall in the $7 million offer, which will remain open until January 31. More at #Proactive #ProactiveInvestors #ASX #OTC #GMR #GMRMF #PreciousMetals http://ow.ly/QHa010566s5
Golden Rim Resources closes entitlement issue; raises A$1.7 million
proactiveinvestors.com.au
To view or add a comment, sign in
-
Oriole Resources PLC (AIM:ORR) posted an interim profit in the six months to end June 2024 helped by its facility with Lanstead and earn-in payments from BCM. Pre-tax profits for the six months to 30 June 2024 were £1.15 million (2023: loss of £0.86 million). BCM paid US$1.5 million upfront at two of Oriole’s licences in Cameroon, Bibemi and Mbe, for a 10% interest in each. It has the opportunity to earn up to a 50% interest by funding up to US$4 million in exploration expenditure per licence with additional milestone payments once resources at the prospects exceed one million ounces. Eileen Carr, chairman, said: "The year started on a high note with confirmation of the BCM deals on both the Bibemi and Mbe licences. “As suspected, this news positively impacted the share price, which in turn significantly increased the monthly proceeds received from Lanstead. More at #Proactive #ProactiveInvestors http://ow.ly/wCvN105HJu9
Oriole Resources posts profit after BCM earn-ins and stand-by boost
proactiveinvestors.co.uk
To view or add a comment, sign in
-
The Lobito Corridor project – a cross-border infrastructure development connecting Angola with mining operations in Zambia and the DRC, as well as global markets – is expected to be completed in 2029. The project creates various economic opportunities for the region by strengthening both intra- and inter-African mineral trade. At the upcoming Critical Minerals Africa (CMA) 2024 Summit, a panel discussion on The Lobito Corridor: Driving Economic Transformation and Opening Markets will delve into opportunities the corridor presents for Angola, the DRC and Zambia. Speakers include Tim George, Executive Director & CEO of Pensana Plc; Martin Lokanc, Senior Mining Specialist at the World Bank; and Kevin Ngunza Man, Economic & Commercial Specialist at the U.S. Department of State in the DRC. The discussion will examine how the project can serve as a blueprint for developing regional mining value chains, driving strategic infrastructure investments and maximizing socioeconomic growth across Africa. Join us at CMA, Africa's premier investment platform for the critical minerals sector. This pivotal event, taking place November 6-7 in Cape Town, connects global leaders, producers, and investors, driving investment toward African projects. 🔗 Book your delegate pass: https://lnkd.in/dKbchU2r 🔗 For sponsorship, exhibition, and delegate inquiries, get in touch: https://lnkd.in/dv6TuvQJ #CMA2024 #CriticalMinerals #InvestinAfrica #Energy #Mining
To view or add a comment, sign in
-
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
Aterian PLC - New Licences and Atlantis Metals Acquisition - Vox Markets
voxmarkets.co.uk
To view or add a comment, sign in
-
Charles G. Bray, Chairman of Aterian plc: "I am very pleased to announce the completion of the SPA with Aterian acquiring the majority shareholding in Atlantis Metals, and also to report on the significant increase in our exploration landholding within the highly prospective Kalahari Copperbelt. "Our strategy is to responsibly explore and develop critical minerals and metals across Africa, a region vital for a successful energy transition. Completing this acquisition and portfolio expansion further expands our presence on the continent. It perfectly fits our strategy of focusing on critical metals, copper and lithium, in stable and business-friendly jurisdictions. "These copper and lithium licences in #Botswana underscore and support our exploration efforts in #Rwanda, where we have an earn-in JV with Rio Tinto, and in #Morocco where we are actively exploring for copper. We have been busy and look forward to updating the market on our continued exploration effort to develop these critical energy transition metals." John Meyer Paul Smith Simon Rollason Gary Pine Thomas Kavanagh Argus Media Euan Sadden S&P Global Gabriela Farhangi Kallanish Commodities Andrea Hotter Fastmarkets Siobhan Lismore-Scott Ben Payton Mark Saxon Mark Burton Bloomberg Clara Denina Felix Njini Reuters
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
Aterian PLC - New Licences and Atlantis Metals Acquisition - Vox Markets
voxmarkets.co.uk
To view or add a comment, sign in
21,556 followers