Oriole Resources (ORR)

Sector:

Mining

Index:

FTSE AIM All-Share

0.20p
   
  • Change Today:
      0.003p
  • 52 Week High: 0.39
  • 52 Week Low: 0.20
  • Currency: UK Pounds
  • Shares Issued: 3,895.87m
  • Volume: 5,444,044
  • Market Cap: £7.89m

Oriole secures two-year renewal for Wapouzé licence

By Josh White

Date: Wednesday 29 Jan 2025

LONDON (ShareCast) - (Sharecast News) - Oriole Resources announced on Wednesday that it has secured a two-year renewal for its 85%-owned Wapouzé limestone licence in northern Cameroon.
The AIM-traded company, which initially explored the site for gold, said it had shifted focus after sampling revealed high-grade carbonate material suitable for use in the cement industry.

An approval for a change in exploration focus from gold to limestone was granted in September 2023, but work had been on hold pending the licence renewal.

With the extension now in place, Oriole said it was seeking an industrial minerals partner to advance Wapouzé towards commercial production.

The firm said it saw potential demand for limestone products in Cameroon's £700m cement industry, which currently relies heavily on imported clinker.

In addition to cement, Oriole noted that limestone could have applications in Cameroon's developing gold mining sector, where products such as hydrated lime and quicklime were used in ore processing, cyanide reduction, and wastewater treatment.

The company said it was aiming to structure a royalty-based agreement on future material extraction, which could provide a long-term revenue stream from the project.

"The renewal of the Wapouzé licence is very good news and we are hopeful that we will be able to attract an industrial minerals partner to determine a commercially viable limestone deposit and fast track it through to commercial exploitation," said chief executive officer Oriole Resources.

"In turn, this could generate significant royalty income to Oriole, provide a diversified revenue stream, and would be a win-win for the Company and Cameroon, as the government is keen to reduce the country's reliance on importing clinker for use in cement manufacture."

At 1358 GMT, shares in Oriole Resources were up 2.04% at 0.25p.

Reporting by Josh White for Sharecast.com.

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ORR Market Data

Currency UK Pounds
Share Price 0.20p
Change Today 0.003p
% Change 1.25 %
52 Week High 0.39
52 Week Low 0.20
Volume 5,444,044
Shares Issued 3,895.87m
Market Cap £7.89m

ORR Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
59.60% above the market average59.60% above the market average59.60% above the market average59.60% above the market average59.60% above the market average
66.13% above the sector average66.13% above the sector average66.13% above the sector average66.13% above the sector average66.13% above the sector average
Price Trend
20.67% below the market average20.67% below the market average20.67% below the market average20.67% below the market average20.67% below the market average
11.28% above the sector average11.28% above the sector average11.28% above the sector average11.28% above the sector average11.28% above the sector average
Income Not Available
Growth Not Available

ORR Dividends

No dividends found

Trades for 13-Mar-2025

Time Volume / Share Price
16:22 206,080 @ 0.20p
16:20 800,000 @ 0.20p
16:02 498,249 @ 0.20p
15:31 1,000,000 @ 0.20p
15:28 429,292 @ 0.20p

ORR Key Personnel

CFO Robert Smeeton
CEO Martin Rosser

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