Oriole Resources Sells Muratdere Royalty for $1.2 Million

Oriole Resources agreed to sell its 1.2% net smelter return royalty over the Muratdere gold, copper, and molybdenum project in Türkiye to Ardent Steel. The transaction is valued at $1.2 million, structured as three payments of $400,000 each.

The company has already received the first installment. The remaining two payments are scheduled for delivery by March 19, 2027, and September 19, 2027.

CEO Martin Rosser stated that the disposal of the noncore royalty provides cash proceeds to fund the company's primary activities at its flagship Mbe project in Cameroon. The Mbe project currently holds an inferred mineral resource estimate of 1.66 million ounces of gold.