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The latest announcement is out from Oriole Resources PLC ( (GB:ORR) ).
Oriole Resources PLC has submitted an amended technical report to the Cameroon Ministry of Mines to expedite the Exploitation Licence Application for its Bibemi Gold Project. The Preliminary Economic Assessment (PEA) highlights a potential open pit mine scenario with a seven-year life of mine, producing 72,000 ounces of gold. The project shows promising economic potential with an estimated initial capital expenditure of $60.4 million and a payback period of four years. The company is in negotiations with the Cameroon government to finalize tax and customs regimes, aiming for a licence by mid-2026. The project also holds significant expansion potential, with less than 20% of the total gold resources included in the current PEA, indicating opportunities for future growth and increased production.
More about Oriole Resources PLC
Oriole Resources PLC is a gold exploration company listed on AIM, focusing on projects in West and Central Africa. The company is engaged in the development and exploration of gold resources, with a particular emphasis on the Bibemi Gold Project in Cameroon.
Average Trading Volume: 50,344,551
Technical Sentiment Signal: Hold
Current Market Cap: £14.29M
Learn more about ORR stock on TipRanks’ Stock Analysis page.