Disposal of Holding in Tembo Gold Corp.

RNS Number : 0923E

Oriole Resources PLC

25 February 2020

 

Oriole Resources PLC

('Oriole' or 'the Company')

Disposal of Holding in Tembo Gold Corp.

Oriole Resources PLC, the AIM-quoted exploration company focussed on West Africa, reports that it has sold its 12.27% holding in Tembo Gold Corp., following the sale of 19,975,000   ordinary shares for net proceeds of £172,000 by Oriole's wholly-owned subsidiary company, Stratex Gold AG.

The sale supports the Company's previously announced strategy of asset realisation of non-core assets to help fund its ongoing exploration programmes in Cameroon (Announcement dated 14 November 2019). The Company anticipates making a number of further announcements around non-core asset disposals in the coming months.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.

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For further information please visit  www.orioleresources.com ,   @OrioleResources on Twitter,  

or contact:

Oriole Resources PLC Tim Livesey / Bob Smeeton / Claire Bay	Tel: [phone]
Blytheweigh (IR/PR contact) Tim Blythe / Megan Ray / Rachael Brooks	Tel: [phone]
Grant Thornton UK LLP Samantha Harrison / Niall McDonald	Tel: [phone]
WH Ireland Adrian Hadden / Darshan Patel / Lydia Zychowska	Tel: [phone]

Notes to Editors:

Oriole Resources PLC is an AIM-quoted exploration company, operating West Africa. It is focused on early-stage exploration in Cameroon (Bibemi and Wapouzé projects) and the more advanced Senala gold project in Senegal, where IAMGOLD has the option to spend US$8m to earn a 70% interest. Year 1 commitments have been met at all three projects. The Company has several interests and royalties in companies operating throughout Africa and Turkey that could deliver future cash flow, and it continues to assess new opportunities in both regions.

 

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