REG - Oriole Resources PLC - Board Change and Appointment of CEO

Oriole ResourcesAnnouncement

01/05/2024 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240501:nRSA7065Ma&default-theme=true

RNS Number : 7065M  Oriole Resources PLC  01 May 2024

Oriole Resources PLC

('Oriole' or 'the Company' or 'the Group')

1 May 2024

Board Change and Appointment of Chief Executive Officer

 

Oriole Resources (AIM: ORR), the AIM-quoted gold exploration company focussed
on West Africa, announces that Mr Timothy Livesey has stepped down as Chief
Executive Officer ('CEO') and from the Board of Oriole with effect from end of
30 April 2024 to focus on his other business interests. The Company also
announces that Mr Martin Rosser has been appointed as CEO and will join the
Board of Oriole with effect from today, 1 May 2024. Tim will remain an
employee of Oriole to 31 May 2024 to assist in the transition.

During his tenure as CEO, Tim was pivotal in reinvigorating the strategic
direction of the Company, which has led to the discovery of a potential new
gold district in Cameroon. Additionally, the exploration programmes carried
out in Cameroon recently culminated in the signing of earn-in agreements, with
BCM International Limited, at the Bibemi and Mbe projects.

Martin brings a wealth of experience to the role of CEO with over 40 years of
professional expertise in the natural resources sector, including as CEO of
AIM-listed Alexander Mining Plc. He has also worked as a corporate financier
and mining analyst.

As CEO of Alexander Mining Plc for 13 years, Martin led the company through
the finalisation of a feasibility study for an open pit copper mine in
Argentina; the diversification into innovative mineral processing technology
and other energy metals, including lithium; and the completion of a reverse
takeover transaction in January 2020. He has also sat on the board of Afriore
Limited, as a Non-Executive Director, and acted as Managing Director of what
is now known as VSA Capital plc. Martin's diverse and expansive experience
will provide additional value to the Company and further consolidates its
already strong executive team.

Martin holds a BSc in Mining Engineering from and Associateship of the
Camborne School of Mines. He is also a Fellow of the Institute of Materials,
Minerals and Mining, and a Chartered Engineer.

Eileen Carr, Chair of Oriole, commented:

"First, on behalf of the Board, I would like to express my sincere thanks to
Tim for his hard work and dedication over the years - he has had a hugely
positive impact on the Company. Tim was instrumental in Oriole's move into
Cameroon and the work carried out by the team, to date, has provided
significant value to all stakeholders. He leaves the Company in a robust
position and with a bright future and we wish him great success with his
future endeavours.

"I am also delighted to welcome Martin to his new role. I believe his
experience and expertise will augment the existing management team very well
and help the Company deliver further on its recent achievements. Martin joins
the team at an important stage of the Company's growth trajectory, and I look
forward to working with him to deliver further value to all stakeholders."

AIM Rules for Companies, Schedule 2(g) Disclosures

As required by Schedule 2(g) of the AIM Rules for Companies, the Company
confirms that Mr Martin Lovatt Rosser, aged 64, currently holds or has held
the following directorships and partnerships in the last five years:

 

 Current directorships and partnerships  Past directorships and partnerships in past five years

 None                                    MetaLeach Limited

                                         eEnergy Group Plc (formerly Alexander Mining Plc)

 

Mr Rosser does not hold any ordinary shares or options in the Company.

Other than as provided in this announcement, no other disclosures in relation
to Mr Martin Lovatt Rosser are required under Rule 17 and schedule 2 (g) of
the AIM Rules for Companies.

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

For further information please visit www.orioleresources.com
(http://www.orioleresources.com) , @OrioleResources on Twitter, or contact:

 

 Oriole Resources Plc                    Tel: +44 (0)23 8065 1649
 Eileen Carr / Bob Smeeton / Claire Bay

 BlytheRay (IR/PR Contact)               Tel: +44 (0)20 7138 3204
 Tim Blythe / Megan Ray

 Grant Thornton UK LLP                   Tel: +44 (0)20 7383 5100
 Samantha Harrison / Ciara Donnelly / Elliot Peters
 SP Angel Corporate Finance LLP          Tel: +44 (0)20 3470 0470

 Ewan Leggat

 

Notes to Editors:

 

Oriole Resources PLC is an AIM-listed gold exploration company, operating
in West Africa. It is focussed on early-stage exploration
in Cameroon, where the Company has reported a Resource of 375,000 oz Au at
2.30g/t in the JORC Inferred category at its 82.2%-owned Bibemi project and
has identified multi-kilometre gold and lithium anomalism within the
district-scale Central Licence Package project. BCM International is
currently earning up to a 50% interest in the Bibemi and Mbe projects in
return for a combined investment of US$1.5 million in signature payments
(which has already been received), up to US$8 million in exploration
expenditure, as well as JORC resource-based success payments.

At the Senala gold project in Senegal, AGEM Senegal Exploration Suarl
('AGEM'), a wholly-owned subsidiary of Managem Group, has recently completed
a six-year earn-in to acquire an estimated 59% beneficial interest in the
Senala Exploration Licence by spending US$5.8 million. A review of
expenditure and discussions on the formation of a joint-venture company are
currently underway. The Company also has several interests and royalties in
companies operating in East Africa and Turkey that could deliver future
cash flow.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOADGGDSCDXDGSG