Oriole Resources PLC (LSE:ORR, FRA:S1Y) has raised £1.77mln through an oversubscribed share placing as it advances its operations in Cameroon.

The sold 416.4mln new shares priced at 0.425p each, equal to Friday's closing price.

Oriole, in a statement, highlighted that it already has sufficient funds to complete the planned Phase 2 1,650 metre drill programme at the Bibemi gold project for which the drill rig is on-site and work is slated to start later this month - and it would use the injection of funds to support a Phase 3 programme comprising a further 3,000 metres.

"Following our successful maiden drilling programme at Bibemi, where drilling identified gold at all four initial prospects (announcement dated 29 June 2021), the Directors have been keen to follow up on this work," said chairman John McGloin.

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Oriole Resources plc published this content on 20 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2021 07:51:05 UTC.