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Oriole receives R&D rebates

11th November 2019

By: Creamer Media Reporter

     

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West Africa-focused exploration company Oriole Resources has received rebates of £105 000 from Her Majesty's Revenue and Customs (HMRC), in the UK, in relation to research and development (R&D) tax relief claims.

The claims were for the years ended December 31, 2017, and December 31, 2018, and were in respect of geoscientific advances sought through its exploration pgorammes.

"The continued support from the R&D tax credit regime is a valuable resource to extend our geological research work in Cameroon. Following the excellent early results to date at the Bibemi project, in particular, the team is currently mobilising to site and will be following up on these results and on the outcomes of the technical review meetings we held over the summer. We look forward to progressing all our projects as we now head into the 2019/20 field season," Oriole CFO Bob Smeeton said in a statement on Monday.

Aim-listed Oriole is conducting exploration at the Bibemi and Wapouzé gold projects, in Cameroon, as well as at the Dalafin gold project, in Senegal.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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