Curated News
By: NewsRamp Editorial Staff
April 02, 2024
Oriole Resources Outlines 2023 Achievements and Future Exploration Plans
TLDR
- Oriole Resources enhances main resource at Bibemi to 375,000 ounces, secures $4 million investment, and plans significant expansion and new resource development.
- Successful exploration programs in Cameroon at the Bibemi and Mbe projects result in enhanced main resource at Bibemi to 375,000 ounces. Negotiations with external investors lead to deals with BCM for 50% ownership and $4 million investment in each of the Bibemi and Mbe licences. Oriole Resources plans extensive drilling and exploration, expecting significant expansion and new resource development, with a focus on a multi-pit gold operation and centralised processing facility. Additional work includes lithium target exploration and ongoing projects in Senegal.
- Oriole Resources' successful exploration programs and deals with external investors lead to significant expansion and new resource development, contributing to the local economy and job creation.
- Oriole Resources enhances main resource at Bibemi to 375,000 ounces, secures $4 million investment, and plans extensive drilling and exploration, including lithium target exploration and ongoing projects in Senegal.
Impact - Why it Matters
The achievements and future plans of Oriole Resources PLC have significant implications for the company's financial and operational performance, as well as the exploration and development of valuable resources in Cameroon and other regions. Investors, stakeholders, and industry observers will be keen to track the company's progress and its impact on the mining and exploration sector.
Summary
Oriole Resources PLC CEO Tim Livesey and CFO Bob Smeeton discuss the company's 2023 financial and operational performance, including successful exploration programs in Cameroon and negotiations with external investors resulting in deals with BCM for 50% ownership and $4 million investment in each of the Bibemi and Mbe licences. CFO Smeeton detailed a £2.4 million operating loss, secured project-level funding and a financing deal with Lanstead, and highlighted the company's plans for extensive drilling and exploration, expecting significant expansion and new resource development, with a focus on a multi-pit gold operation and centralised processing facility. Additional work includes lithium target exploration and ongoing projects in Senegal.
Source Statement
This curated news summary relied on content disributed by News Direct. Read the original source here, Oriole Resources Outlines 2023 Achievements and Future Exploration Plans
