12 April 2021 | 15:11pm
StockMarketWire.com - Oriole Resources, the AIM-quoted exploration company focussed on West Africa, announced that visible free gold mineralisation has been identified at its 51% owned Bibemi gold project in Cameroon.
The company reported that visible free gold mineralisation has been identified in multiple holes at the Lawa West prospect and the Lawa East prospect.
The programme is focussed on testing the depth extension of surface gold mineralisation identified at four key prospects - Bakassi Zone 1, Bakassi Zone 2, Lawa West and Lawa East - within a 8.3-kilometre-long orogenic gold system that remains open to the southwest.
The gold is hosted by quartz-tourmaline veins up to one metre wide, at a downhole depth of approximately 70 metres, and has a strong association with pyrite, occurring as both finely disseminated and coarser grains, some of which is visible in the pre-cut core in the holes at Lawa West.
6 April 2021 | 09:16am
StockMarketWire.com - West Africa focused Oriole Resources said it had secured a controlling position in Reservoir Minerals Cameroon for its early-stage exploration licences in Cameroon.
The company had formalised its 51% ownership of the local holding company, Reservoir Minerals Cameroon, that also held three of the newly-granted licences in central Cameroon.
The move followed the completion of an initial funding commitment of $1.56 million over two years at the Bibemi and Wapouze projects.
Completion of a drilling programme at Bibemi was expected to see the company meet its second expenditure commitment to acquire a 90% interest in all five licences.
11 March 2021 | 08:57am
StockMarketWire.com - Rolls Royce has said its performance in 2020 has been significantly affected by the COVID-19 pandemic as it reports a fall in revenue to £11.8 billion.
The underlying revenue of £11.8 billion reflected lower activity and included a £1.1 billion revenue impact from Civil Aerospace LTSA contract accounting catch-ups.
The underlying operating loss of £2 billion included £1.3bn of one-off charges largely due to COVID-19 comprising charges for LTSA catch-ups, contracts that have become loss-making in the year and customer provisions.
In a statement, the company said: In May 2020 we launched a major restructuring programme to fundamentally re-size the cost base and capital requirements of our Civil Aerospace business. In total we expect the restructuring to lead to the reduction of at least 9,000 roles by the end of 2022, most of which are in Civil Aerospace.
11 March 2021 | 16:36pm
StockMarketWire.com - A strong start to the trading day in the US helped the FTSE 100 erase its lunchtime losses to trade 0.2% higher at 6,736.96 by the close.
At 4.30pm UK time the S&P 500 was up 1.4% to 3,954.48 as yesterday s weaker than expected inflation number and the passing of a big US stimulus package helped boost sentiment.
Morrisons has seen pre-tax profits fall more than 60% in 2020, with a £290 million hit relating to Covid costs , despite a rise in sales and revenue for the high street supermarket chain. Its shares ticked dipped 1% to 175.25p.
Rolls Royce has said its performance in 2020 has been significantly affected by the Covid-19 pandemic as it reported a fall in revenue to £11.8 billion. It advanced 0.8% to 113.9p.