Oriole Resources secures majority stake in Reservoir Minerals Cameroon

Oriole Resources secures majority stake in Reservoir Minerals Cameroon
Tue, 6th Apr 2021 14:31
(Alliance News) - Oriole Resources PLC on Tuesday said it has acquired a 51% interest in Reservoir Minerals Cameroon Sarl for its early-stage exploration licences.
RMC is the holding company for the Bibemi and Wapouze orogenic gold projects in northern Cameroon. Oriole said it acquired at no additional cost a majority interest in RMC's three newly granted licences in central Cameroon.
AIM-listed Oriole recently completed USD1.6 million of exploration funding over two years at the Bibemi and Wapouze projects, and has now formalised its 51% ownership of RMC.
Oriole said it expected to reach its second expenditure commitment, giving it a 90% interest in licences in the five Cameroonian mining projects, once the ongoing drilling programme at Bibemi is completed.

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