Oriole Resources Plc
ORR:LN
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Overview
Company Profile
Oriole Resources PLC is an AIM-listed gold exploration company, focussed on Cameroon and West Africa.
Our main activity is exploration in Cameroon, where the Company has a Mineral Resource estimate of 375,000 oz contained Au at 2.30g/t in the JORC Inferred category at the Bibemi project and has identified a highly prospective target now being drilled at Mbe within the district-scale Central Licence Package project. BCM International is currently earning up to a 50% interest in the Bibemi and Mbe projects having made Signature payments of US$500k and US$1 million respectively and by funding up to US$4m in exploration expenditure at each project, and with JORC resource-based success payments at each project.
At the more advanced Senala gold project in Senegal, AGEM Senegal Exploration Suarl (‘AGEM’), a wholly-owned subsidiary of Managem Group, spent approximately US$5.8 million on the project during an Option Agreement period. AGEM is estimated to have a beneficial ownership of c.59% of the project, and discussion on the next steps is underway. The Company also has several interests and royalties in companies operating in East Africa and Turkey that could deliver future cash flow.
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Corporate
Board of Directors
Marcus Engelbrecht
Chief Executive Officer
Marcus has over 30 years’ experience in the global mining industry; at Board level and as managing director of a London-listed company. Marcus commenced his career in 1976 with a firm of Chartered Accountants in South Africa and from 1985 he spent 20 years in various roles at BHP Billiton, including Chief Financial Officer of the group’s Diamond and Speciality Products division. After a short period of time co-running a financial services consultancy, he re-entered the mining industry in 2009 as Chief Financial Officer for OceanaGold Corporation, an Australian-based gold company listed on the ASX, TSX and NZX. Between 2011 and 2013, Marcus was managing Director and CEO of Archipelago Resources plc, formerly an AIM-quoted, Singapore-based gold company with a producing mine in Indonesia, a turnover of c. US$200m and annualised gold production of 150 koz. During his tenure, Marcus successfully took the company from construction to production. Marcus currently serves as a non-executive Director of Xanadu Mines, an Australian-quoted exploration company.
Perry Ashwood
Chief Financial Officer
Perry Ashwood qualified as a Chartered Accountant in 1971, training with Spain Brothers & Co. and KPMG. Shortly after qualifying he spent five years with British Oxygen Ltd in their Corporate Office before moving to Rank Xerox Ltd in 1978. Perry was with Xerox for 20 years and held various positions ranging from Group Chief Accountant to Finance Director, Central & Eastern Europe. During his time with Xerox, he held both technical accounting roles, including involvement in internal controls and audit, and operational roles with extensive involvement in: Turkey; Egypt; India and Russia. He also spent three years on assignment in the USA at corporate headquarters as Manager, Xerox Business Arrangements where his major focus was on acquisitions, divestments and joint ventures. He joined Intermec International Inc in 1998 as Finance Director, Europe, Middle East & Africa before becoming an independent consultant in 2000 taking on various interim roles with small to medium sized businesses.
Peter Addison
Chairman
Peter Addison qualified as a solicitor in 1966 and practiced in the City of London, originally with Linklaters & Paines and subsequently with Norton Rose, specialising in company and commercial law. In 1982, he became a director of English Trust, a corporate advisory bank, and for some twenty years was involved in providing corporate finance advice to a wide range of public companies in the UK and Ireland on all aspects of their businesses.
Emma Priestley
Non-Executive Director
Emma has a background in mining and financial services having worked with mining companies and consultants, IMC Mackay & Schnellmann, investment bank CSFB, advisers VSA Resources, Ambrian Partners, where she worked as corporate broker and adviser, and most recently as an executive director of Lonrho Plc until its successful takeover. Emma is a graduate of Camborne School of Mines, is a chartered Mining Engineer and Chartered Mineral Surveyor.
Chris Worcester
Non-Executive Director
Chris began his City career in 1993 at Barclays de Zoete Wedd, where he worked in the metals and mining project finance team. In 2000, he joined the Royal Bank of Scotland as Director and Head of Financial Modelling and Analysis, leaving in 2002 to join WestLB Capital Markets, the international investment banking division of WestLB, where he established and managed the global metals and mining team until 2007. Since then Chris has been actively involved in securing funding and investment for resource companies through private, specialist corporate finance company Stone Arch Financial and, more recently, Green Road Capital. For more than a decade Chris has lectured regularly on corporate valuation as part of the MSc in Metals and Energy Finance programme at the Imperial College, London. He has a BSc in Chemistry and an MBA in Finance.