Oriole Resources
ORR · AIM · Basic Resources · mcap £13m · 0.3p 4 open situations →
Open · 4
Sale of Muratdere Royalty
Oriole agreed on 18 Sep 2026 to sell its 1.2% NSR royalty in the Muratdere project in Turkey to Ardent Metals for US$1.2m in three tranches. US$400,000 is received and title has transferred. The balance falls due in 2027, and title reverts to Oriole if either payment is late.
- Price
- US$1.2 million in three tranches of US$400,000 18 Sep 2026 ↗
- Buyer
- Ardent Metals LLC-FZ, a company incorporated in Dubai 18 Sep 2026 ↗
- Business sold
- 1.2% post-tax NSR royalty in the Muratdere project, Turkey, held since 2019 18 Sep 2026 ↗
- Received
- First US$400,000 received; title to the Royalty transferred to Ardent 18 Sep 2026 ↗
- Next milestone
- US$400,000 by 19 March 2027 and US$400,000 by 19 September 2027 18 Sep 2026 ↗
- Conditions
- Title reverts to Oriole in full if either outstanding instalment is paid late 18 Sep 2026 ↗
Next: Second US$400,000 tranche due from Ardent · 19 Mar 2027
- 18 Sep 2026 Agreed; first tranche received, title transferred
Wapouzé limestone project
Oriole holds 85% of Wapouzé, a marble project in north-eastern Cameroon switched from gold to marble in 2022. Maiden drilling results on 24 Sep 2026 showed high-grade marble in every hole. On 7 Oct 2026 the maiden JORC Inferred MRE of 32.2Mt was published, plus an Exploration Target. ESIA is underway, ELA targeted Q4-2026, and a PEA is now planned.
- Programme
- 1,053.80m in 21 holes over about 1.2km strike, to 47.50m vertical depth 24 Sep 2026 ↗
- Ownership
- Oriole holds 85% of Wapouzé 24 Sep 2026 ↗
- Next milestone
- PEA to be prepared; no date given 7 Oct 2026 ↗
- Licence
- Exploitation Licence Application planned Q4-2026; local-level ESIA underway 7 Oct 2026 ↗
- Strategy
- Seek industry partner; royalty income to fund gold exploration; Oriole holds 85% 7 Oct 2026 ↗
- Maiden MRE
- 32.2Mt Inferred, 50.33wt% CaO, 1.13wt% MgO, 6.06wt% SiO₂; 42wt% CaO cut-off (7 Oct 2026) 7 Oct 2026 ↗
Next: Submit Exploitation Licence Application; prepare PEA; seek industry partner
- 7 Oct 2026 Maiden MRE out; ESIA underway; ELA Q4-2026
- 24 Sep 2026 Drilling results in; ESIA underway
Mbe resource delineation and development
Oriole lodged the Bibemi exploitation licence application in June 2024, amended it and resubmitted it for a small-scale mine in December 2025. The 22 Sep 2026 interims report meetings with SONAMINES and the Ministry of Mines, with negotiation expected to conclude in the coming months. The Chair is hopeful of an award but notes licences have often taken time.
- Next milestone
- Conclusion of licence negotiation, expected in coming months; award timing not fixed 22 Sep 2026 ↗
- PEA scope
- About 89,000oz in situ at 2.20g/t Au, centred on the 100,000oz Indicated Resource at Bakassi Zone 1
- Mine scenario
- Small-scale 10,000oz pa gold mine, seven-year life
- ESIA
- Environmental and Social Impact Assessment for Bibemi received
- BCM interest
- BCM earned a 50% interest in Bibemi in November 2025
- Application
- Resubmitted December 2025 for a small-scale mine on the upgraded 2025 MRE 22 Sep 2026 ↗
Next: Ministry of Mines decision on the exploitation licence
- 22 Sep 2026 Resource at 1.66Moz; further work planned
- 23 Jul 2026 Updated MB01-S MRE published; planning next work
- 20 May 2026 MB01-S step-out drilling ~70% complete; first results in
- 21 Apr 2026 Amended technical report submitted; decision awaited in 2026
Placing and retail offer
- 14 Nov 2025 Placing conditionally raised; retail offer open
Closed · 2
Company filings. Not investment advice.