logo-loader
RNS
viewOriole Resources PLC

R&D Rebates from HMRC Deliver a Further c.£105,000

/**/ link{ color: blue }visited{ color: #954F72 } .ao{size:595.3pt 841.9pt;margin:72.0pt 72.0pt 72.0pt 72.0pt;}div.ao{}p.bz{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm; text-align: center}span.bx{color:black}p.ca{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm; text-align: center}p.cb{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";line-height: normal; margin-bottom: 0cm; text-align: center}p.cc{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm}p.cd{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; margin-bottom: 6.0pt; text-align: center}p.ce{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-top:0cm;margin-right:0cm;margin-bottom:0cm; margin-left:-35.45pt;margin-bottom:.0001pt;line-height:normal}p.cf{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify;line-height:normal} span.bq{font-size:14.5pt;font-family:"Arial","sans-serif"; color:#0B0C0C;background:white}p.cg{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;line-height: normal}p.ch{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; line-height:normal}span.bo{font-size:10.0pt;font-family:"Arial","sans-serif"}p.ci{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; margin-top: 0cm; text-align: center}span.bm{font-size:10.0pt;font-family:"Arial","sans-serif";color:black}p.cj{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-top:0cm;text-align:justify}span.ck{font-size:10.0pt;font-family:"Arial","sans-serif";color:black}span.cl{font-size:11.0pt;font-family:"Calibri","sans-serif";color:black}span.bi{font-size:11.0pt;font-family: "Calibri","sans-serif"} span.cm{font-size:11.0pt;font-family:"Calibri","sans-serif"; color:black}span.cn{font-size:11.0pt; font-family:"Calibri","sans-serif";color:#C00000}span.co{font-size:11.0pt;font-family:"Calibri","sans-serif"; color:black}span.cp{font-size: 11.0pt;font-family:"Calibri","sans-serif";color:#4D4D4D;background:white}p.cq{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-top:0cm;text-align:justify}p.cr{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; line-height:normal}p.cs{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; line-height:normal}table.ct{width:545.3pt;margin-left:-10.8pt;border-collapse:collapse}tr.ba{height:5.1pt}td.bd{width:266.65pt;padding:0cm 5.4pt 0cm 5.4pt; height:5.1pt} p.cu{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: 12.65pt; margin-bottom: 12.1pt}td.bb{width:257.05pt;padding:0cm 5.4pt 0cm 5.4pt; height:5.1pt}p.cv{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:12.1pt;line-height:12.65pt}td.az{width:257.05pt;padding:0cm 5.4pt 0cm 5.4pt;height:5.1pt}tr.ax{height:21.6pt}td.ay{width:534.5pt;padding:0cm 5.4pt 0cm 5.4pt; height:21.6pt}p.cw{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin: 0cm; margin-bottom: .0001pt}span.bj{font-size:11.0pt;font-family:"Calibri","sans-serif";color:black}p.cx{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt}span.av{font-size: 11.0pt;font-family:"Calibri","sans-serif";color:black} span.cy{color:black}p.cz{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt;text-align:justify}span.da{font-size:10.0pt;font-family:"Calibri","sans-serif"; color:black}span.db{font-size:11.0pt;font-family:"Calibri","sans-serif"; color:black}p.dc{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; text-align:justify;line-height:normal}span.aq{font-size:10.0pt; font-family:"Arial","sans-serif"}p.dd{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; text-align:justify;line-height:normal}p.de{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; text-align:justify;line-height:normal} /**/
RNS Number : 8830S
Oriole Resources PLC
11 November 2019
 

 

Oriole Resources PLC 

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

 

R&D Rebates from HMRC Deliver a Further c.£105,000

 

Oriole Resources, the AIM-quoted exploration company operating in Africa and Europe, is pleased to announce that it has received rebates totalling c.£105,000 from Her Majesty's Revenue and Customs ("HMRC") in relation to a Research and Development ("R&D") tax relief claims (the "Claims") in respect of geoscientific advances sought by the Company through its exploration programmes. The Claims are for the years ended 31 December 2017 and 31 December 2018 and follows the Company's previous successful claim for 2016 where it received c.£40,000 (announcement dated 21 February 2019).

 

The Claims submitted by the Company continue to demonstrate that it qualifies for the R&D tax relief by performing research work on potential areas of mineralisation in order to build the geological data necessary to prove or disprove the economic feasibility of mining operations in those areas.

 

The Company will be submitting its 2019 R&D claim in early 2020, once the Company's financial accounts have been approved by its auditors. Given the significant increase in technical work in Cameroon during that period, the Company anticipates that the submission will be of significantly higher value than that the amounts received to date.

 

Oriole Resources CFO, Bob Smeeton, said"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."

 

** ENDS **

 

 

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following 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,  @OrioleResources on Twitter, 

or contact:

 

 

Oriole Resources Plc

Tel: +44 (0)20 7830 9650

Tim Livesey / Bob Smeeton / Claire Bay




Blytheweigh (IR/PR Contact)

Tel: +44 (0)20 7138 3204

Tim Blythe / Megan Ray / Rachel Brooks




Grant Thornton UK LLP

Tel: +44 (0)20 7383 5100

Samantha Harrison / Ben Roberts / Niall MacDonald

WH Ireland

Adrian Hadden / Darshan Patel / Lydia Zychowska

 

Tel: +44 (0)20 7220 1666

Notes to Editors:

 

Oriole Resources PLC is an AIM-quoted exploration company, focussed on West Africa. It is focused on early-stage exploration in Cameroon (Bibemi and Wapouzé projects) and the more advanced Dalafin gold project in Senegal, where IAMGOLD has the option to spend US$8m to earn a 70% interest. Year 1 commitments have been met at all three projects. The Company has several interests and royalties in companies operating throughout Africa and Turkey that could deliver future cash flow, and it continues to assess new opportunities in both regions.

.

 

 


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 [email protected] or visit www.rns.com.
 
END
 
 
MSCBMBFTMBTBBJL

Quick facts: Oriole Resources PLC

Price: 0.3994

Market: LSE
Market Cap: £2.8 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Capital Network analyst on Oriole Resources as it refocuses on Africa

Capital Network's Christopher Ecclestone discusses Oriole Resources PLC (LON:ORR) - an exploration company, operating in Africa and Europe but with some legacy exposure through investment in, and royalties on, the projects it incubated in Turkey since its listing in 2006. Oriole's focused...

on 04/18/2019

RNS

Holding(s) in Company

2 weeks ago

Updated Presentation

2 weeks, 1 day ago

Work Restarts in Senegal

2 weeks, 1 day ago

Second Price Monitoring Extn

2 weeks, 2 days ago

Price Monitoring Extension

2 weeks, 2 days ago

Strategic Update

3 weeks ago