Business
Receipt of US$80,000 from a legacy asset in Turkey
Receipt of US$80,000 from a legacy asset in Turkey.
About this update from Oriole Resources Plc
[{"type":"text","content":"\n\nOriole Resources PLC \n('Oriole Resources' or 'the Company' or 'the Group')\n \nReceipt of US$80,000 from a legacy asset in Turkey\n \nOriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focused on West Africa, is pleased to announce that it has received US$80,000 being the final payment in relation to the Company's interest in the Hasançelebi and Doğala mining projects in Turkey, in accordance with the Company's announcement dated 22 May 2024.\n \nIt is intended that the proceeds will be used to fund further exploration work.\n \n** ENDS **\n \nFor further information please visit www.orioleresources.com, @OrioleResources on X, or contact:\n \n\n\n\n\nOriole Resources PLC\nMartin Rosser / Bob Smeeton / Claire Bay\n \n\n\nTel: +44 (0)20 7830 9650\n\n\n\n\nBlytheRay (IR/PR contact)\nTim Blythe / Megan Ray \n \n\n\nTel: +44 (0)20 7138 3204\n\n\n\n\nGrant Thornton UK LLP\nSamantha Harrison / Ciara Donnelly / Elliot Peters\n \n\n\nTel: +44 (0)20 7383 5100\n\n\n\n\nSP Angel Corporate Finance LLP\nEwan Leggat / Kasia Brzozowska\n \n\n\nTel: +44 (0)20 3470 0470\n\n\n\n\n \nNotes to Editors:\nOriole Resources PLC is an AIM-listed gold exploration company, operating in West Africa. It is focussed on early-stage exploration in Cameroon, where the Company has reported a Resource of 375,000 oz Au at 2.30g/t in the JORC Inferred category at its 82.2%-owned Bibemi project and has identified multi-kilometre gold and lithium anomalies within the district-scale Central Licence Package project. BCM International is currently earning up to a 50% interest in the Bibemi and Mbe projects in return for a combined investment of US$1.5 million in signature payments (which has already been received), up to US$8 million in exploration expenditure, as well as JORC resource-based success payments.\nAt the Senala gold project in Senegal, AGEM Senegal Exploration Suarl ('AGEM'), a wholly-owned subsidiary of Managem Group, has recently completed a six-year earn-in to acquire an estimated 59% beneficial interest in the Senala Exploration Licence by spending US$5.8 million. A review of expenditure and discussions on the formation of a joint-...