Oriole Resources PLC (LSE:ORR) has unveiled a conditional £1.8 million capital raise through the placement of 750 million new ordinary shares priced at 0.24 pence each, alongside a separate retail offer that could bring in up to an additional £0.2 million. The fresh funding will support expanded exploration work in Cameroon, including step-out drilling at the MB01-S target and further technical evaluations at the Bibemi project. The participation of RAB Capital Group as a major investor, together with the issuance of warrants to placing and retail offer participants, underscores the company’s strategy to strengthen its balance sheet and advance its operational pipeline. Management believes the financing will meaningfully enhance its exploration momentum and could set the stage for a valuation uplift as programs progress.
More about Oriole Resources PLC
Oriole Resources PLC is an AIM-listed gold exploration company focused on building value through its projects in West and Central Africa, with a particular emphasis on Cameroon. Its portfolio includes the Mbe and Bibemi gold projects—its most advanced assets—where the company is working to uncover and develop commercially viable mineral deposits.
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