Oriole Resources PLC – a gold exploration company focused on West Africa – has renewed the exploration license for the Senala gold project in Senegal. The new license is valid for a period of three years starting from February 17th. Oriole indicates that the area of the license has been reduced by 25% to comply with the Senegalese mining code, and now stands at 354.5 square kilometers.
Oriole notes that in February, AGEM Senegal Exploration Suarl, a subsidiary of the Moroccan mining company Managem Group, signed a six-year contract worth $5.8 million for Senala, granting them a profit interest of around 59%.
Current stock price: 0.36 pence per share, up 12% in London on Monday
12-month change: More than double from 0.14 pence in April 2023
By Hugh Cameron, journalist at Alliance News
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