StockMarketWire.com - Oriole Resources said it had extended the licence period for a key gold prospect in Senegal.

An exclusive exploration licence for the Dalafin project had exceeded its maximum tenure of nine years, plus a one-year special extension.

Oriole Resources said it had successfully applied for a new licence, though it was now designated as Senala, rather than Dalafin.

The licence still covered the same coordinates as Dalafin.

It would be governed by the new Senegalese mining code, which would secure the tenure of the licence for up to a further 10 years, plus up to two years of special extensions.

IAMGOLD Corporation still had an option to spend up to $8m to earn a 70% interest in the project.


At 8:30am: [LON:ORR] Oriole Resources Plc Ord 0.1p share price was +0.03p at 0.51p



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