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Oriole Resources PLC ( (GB:ORR) ) just unveiled an announcement.
Oriole Resources PLC has announced the receipt of the first US$300,000 tranche from BCM International as part of a Completion Agreement, granting BCM a 50% interest in the Bibemi gold project. This development marks a significant step in Oriole’s collaboration with BCM, as they work towards formalizing a joint venture agreement and advancing the project, including negotiations for an exploitation licence with the Cameroon Government. The agreement also includes financial commitments from BCM for exploration expenditures and drilling costs, which are expected to enhance Oriole’s operational capabilities and strengthen its position in the gold exploration industry.
More about Oriole Resources PLC
Oriole Resources PLC is an AIM-quoted gold exploration company with a focus on early-stage exploration in West and Central Africa, particularly in Cameroon. The company is involved in projects like the Mbe and Bibemi orogenic gold projects, and it has reported significant gold resources and exploration targets in these areas. Oriole also has interests in other regions, including Senegal, East Africa, and Turkey.
Average Trading Volume: 65,299,179
Technical Sentiment Signal: Strong Sell
Current Market Cap: £8.81M
See more data about ORR stock on TipRanks’ Stock Analysis page.