Business
Preliminary Economic Assessment for Bibemi Project
Oriole Resources PLC has submitted an amended technical report for its 50% owned Bibemi Gold Project in Cameroon, including a Preliminary Economic Assessment (PEA) supporting the Exploitation Licence Application. The PEA outlines an open pit mine scenario targeting approximately 89,000 ounces of in-situ gold grading 2.20g/t Au, largely within the 100,000oz Indicated Resource at Bakassi Zone 1. Based on a US$3,200 per ounce gold price, the project projects a seven-year mine life with total gold production of 72,000oz, average annual production of 10,000oz, an all-in sustaining cost of US$1,243/oz, and initial capital expenditure of US$60.4 million, with an estimated payback period of four years. The company anticipates receiving an Exploitation Licence in the first half of 2026, with significant upside potential from further resource conversion. Disclaimer*
About this update from Oriole Resources Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the \"UK MAR\") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \nOriole Resources PLC\n('Oriole Resources' or the 'Company')\n \nPreliminary Economic Assessment for the Bibemi Gold Project, Cameroon to support Exploitation Licence Application Process\n \nOriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company focused on West and Central Africa, is pleased to provide an update on its 50% owned Bibemi potential open pit gold mine project ('Bibemi' or the 'Project') in Cameroon, including results from its internal Preliminary Economic Assessment ('PEA').\nHighlights\n \n· Amended detailed technical report (the 'Report') submitted to the Cameroon Ministry of Mines, Industry, and Technological Development ('Ministry of Mines') to expedite the Exploitation Licence Application ('ELA') process and which incorporates comprehensive technical progress achieved by the Company during 2024/25.\n \n· The Report includes an internal PEA that focuses on an optimised open pit mine scenario for exploiting approximately 89,000oz in situ contained gold grading 2.20g/t Au, largely centred within the 100,000oz contained Indicated Resource at the Bakassi Zone 1 ('BZ1') MRE deposit, published in May 2025.\n \n· Summary base case parameters using a US$3,200 per ounce gold price (unless otherwise stated), 85% treatment plant recovery and costs to scoping study levels of confidence, are tabulated below (see 'Further Details' section for expanded table):\n\n\n\n\n\nBibemi Gold Project Preliminary Economic Assessment Base Case Summary 1\n\n\n\n\nProduction\n\n\n\n\nLife of Mine ('LoM')\n\n\n7 years\n\n\n\n\nTotal gold production\n\n\n72,000oz\n\n\n\n\nAverage annual gold production\n\n\n10,000oz\n\n\n\n\nAverage all-in sustaining cost ('AISC') over LoM\n\n\nUS$1,243/oz\n\n\n\n\nInitial capital expenditure ('CAPEX...