Oriole Resources: A 'compelling' opportunity at current prices, says new research
Published: 08:56 13 May 2025 BST
You don’t often hear “compelling valuation” and “frontier gold discovery” in the same breath.
But that’s exactly how Greenwood Capital describes Oriole Resources PLC (AIM:ORR), the AIM-listed explorer now hitting its stride at Mbe in Cameroon.
Drilling results announced this week have returned the widest and highest-grade gold intersections yet from the company’s debut campaign at the site.
One standout hole, MBDD008, hit 86.5 metres at 1.36 grams per tonne of gold starting just 22 metres below surface.
For context, this kind of near-surface, moderate-grade mineralisation can mean more accessible, lower-cost mining in the future.
Add in pockets of higher-grade material, including one metre at 17 grams per tonne, and the story becomes even more attractive.
These are still the first holes ever drilled at Mbe, part of a 4,000 square kilometre land package that Oriole secured in 2021.
The Central Licence Package is almost entirely unexplored, and the signs so far are encouraging.
All 12 holes drilled to date have encountered gold. According to Greenwood, the results increasingly support a bulk-tonnage, open-pit scenario, which tends to favour large-scale production at lower cost.
The wider mineralised envelopes and presence of high-grade zones suggest this is more than just a low-grade system.
Greenwood says the latest assays validate Oriole’s exploration strategy and build momentum towards a maiden Mineral Resource Estimate by the end of this year.
Oriole’s shares are trading at 0.22p, giving the company a market value of just £8.5 million.
That makes it one of the cheapest ways to get exposure to a new gold system that is showing all the early signs of scale.
Metallurgical testing on surface samples has already confirmed good gold recoveries using standard processing methods, and more detailed work is underway.
For investors prepared to look beyond the more familiar names, Oriole’s early results at Mbe could mark the start of something much bigger.
