Oriole Resources plc has conditionally raised £400,000 comprising an equity raise, directors’ subscriptions and a salary sacrifice scheme. FUNDRAISE The fundraise comprises £300,000 in a placing and £40,000 from subscriptions by certain directors through the issue of 188,888,888 new ordinary shares at the placing price of 0.18 pence per share, equal to a 14% discount. […]
Tag: Cameroon
Oriole identifies multiple gold-in-soil anomalies at CLP
Oriole Resources plc said it had outlined grades of multiple gold-in-soil anomalies from soil sampling results in a historically unexplored area at its Central Licence Package (CLP), Central Cameroon. PROGRAMME The company owns 90% of the district scale CLP which comprises eight contiguous licences covering 3,592 km2 prospective for orogenic-style gold mineralisation. Initial results are from […]
VOG granted one-year extension to Matanda Block licence
Victoria Oil & Gas plc (VOG)’s subsidiary and operator Gaz du Cameroun S.A. (GDC) has received a one-year extension for the Matanda Block licence in Cameroon. PROSPECTIVE RESOURCES The extension for the 1,235 km2 block which lies adjacent to GDC’s Logbaba concession is effective from 17 December 2021. VOG said its estimate of prospective resources […]
Oriole identifies multiple gold targets in eastern CLP
Oriole Resources plc has identified multiple gold targets in its three of the easternmost licences in its 90% owned Central Licence Package (CLP) in Cameroon. RESULTS The district-scale CLP comprises eight contiguous licences covering 3,592 km2 prospective for orogenic-style gold mineralisation. During Q2 2020, the company began a mapping and stream sediment sampling programme which gave initial […]
VOG draws down Meridian loan notes for Douala gas operations
Victoria Oil & Gas plc (VOG)’s has drawn down in full the convertible B loan notes for its onshore gas operations in the port city of Douala, Cameroon. LEGACY ISSUES The loan to the company’s subsidiary, Gaz du Cameroun S.A. is in accordance with the financing agreement with Meridian Capital (HK) Ltd. “We are once again […]
Oriole weighs ‘huge exploration potential’ at CLP
Oriole Resources plc’s initial sampling results support its hypothesis of huge potential for gold exploration on the 3,592km2 Central Licence Package (CLP) in Central Cameroon. PRIORITY Following a desktop remote sensing study that identified 12 initial priority gold targets, Oriole conducted a mapping and stream sediment sampling programme. The programme was completed over the five easternmost licences, […]