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Oriole Resources completes the conversion of its Muratdere stake

Oriole has now executed share purchase and royalty agreements with its partner Lodos Maden Yatırım Sanayii ve Ticaret

Gold coins growing from the soil
The net smelter return has been estimated at roughly 90% of the estimated US$400mln gross metal revenues over the 16-year mine life

Oriole Resources PLC (LON:ORR) has concluded the conversion of its interest in the Muratdere copper-molybdenum-gold deposit to a 1.2% post-tax net smelter return (NSR) royalty.

Lodos, the new owner of the mine, which is located in Turkey, has continued to advance Muratdere towards mine-construction.

"We are pleased with the progress our partner has made in moving Muratdere towards mine-development,” said Bob Smeeton, the chief financial officer of Oriole.

“The conversion of our interest to a 1.2% NSR royalty gives us a valuable and potentially saleable asset. We would anticipate the net smelter return to be approximately 90% of the estimated US$400 million gross metal revenues over the sixteen-year mine life, making the 1.2% royalty a substantial asset for the group," he added.

READ Oriole's stake at Muratdere legacy project now less than 10%


 


 

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