Proactive Investors - Run By Investors For Investors

Oriole Resources makes significant progress on VAT appeal

Oriole has a portfolio of exploration assets in Africa and Turkey
Oriole Resources makes significant progress on VAT appeal
Discussions with HMRC remain ongoing in regard to activities in Turkey

The tax and customs authorities in the UK, HMRC, have now recognised that supporting overseas exploration activity constitutes an economic activity as far as Oriole Resources PLC (LON:ORR) is concerned.

WATCH: Oriole Resources 'very excited' by results from Dalafin drill programme

This bodes well for Oriole’s appeal against a demand that it pay back £557,000 in reclaimed VAT last year, and the company now expects that the provision it made in its 2017 accounts will be released.

A partial restriction will remain in regard to activities in Turkey, the size of which is subject to ongoing discussions.

View full ORR profile View Profile

Oriole Resources PLC Timeline

Related Articles

September 17 2018
Cradle Arc is ramping up copper production at its Mowana project, and further expansion is on the cards
Thor Explorations' Segilola high grade pit offers strong return on investment
June 12 2018
The 100% owned project sits on a 27 sq km exploration licence containing a 17 sq km mining licence
November 15 2018
Telson's Mexican mines are set to deliver significant growth

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use