Oriole Resources (ORR) H1 2026 earnings summary

Executive summary

• Achieved significant exploration milestones in Cameroon, notably at the Mbe gold project, with a JORC Inferred Resource of 1.66Moz at 1.02g/t Au after successful drilling at MB01-N and MB01-S.

• Bibemi project advanced to exploitation licence application stage, with ongoing technical studies and positive government engagement.

• Entered a JV agreement for the Senala gold project in Senegal, with a $2 million work programme planned.

• Wapouzé limestone project completed maiden drilling, with results expected to support a maiden MRE and exploitation licence application.

Financial highlights

• Posted a pre-tax profit of £0.99 million for H1 2026, compared to a loss of £0.57 million in H1 2025, mainly due to profit recognition from BCM's 50% interest in Mbe.

• Administrative expenses slightly decreased to £0.68 million (H1 2025: £0.72 million).

• Exploration expenditure was £1.29 million, focused on Cameroon.

• Cash balance at 30 June 2026 was £1.48 million (31 December 2025: £2.50 million).

• Earnings per share for H1 2026 were 0.02p (H1 2025: -0.02p).

Outlook and guidance

• Focus on advancing Bibemi to secure Cameroon’s first hard rock gold mining licence.

• Further exploration and resource expansion planned at Mbe, with both MB01-N and MB01-S remaining open.

• Anticipates maiden MRE and exploitation licence application for Wapouzé in late 2026.

• Senala JV partner to conduct extensive drilling and auger programmes in 2026/27.