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Oriole receives R&D tax rebate of £403 000

12th April 2022

By: Marleny Arnoldi

Online News Editor

     

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Aim-listed Oriole Resources has received a tax rebate of £403 000 from Her Majesty’s Revenue and Customs, in the UK, for the year ended December 31, 2021.

This follows the company claiming research and development (R&D) tax relief in respect of geoscientific advances made through exploration programmes.

The company’s work on identifying potential areas of mineralisation in Cameroon has contirbuted to the geological data necessary to assess the feasibility of future mining operations in those areas.

“We made significant progress on our projects in Cameroon during 2021, with three phases of drilling at Bibemi and preliminary exploration work at our district-scale Central Licence package.

“With £1.78-million of direct research investment into the projects in 2021, its pleasing to receive an R&D rebate of this quantum within a few months of the year-end,” comments Oriole CFO Bob Smeeton.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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