Oriole Resources PLC (AIM:ORR) has received a £403,000 rebate from Her Majesty's Revenue and Customs (HMRC).
The rebate is in relation to a research and development (R&D) tax relief claim in respect of geoscientific advances sought by the company through its exploration programmes.
"We made significant progress on our projects in Cameroon during 2021, with three phases of drilling at Bibemi and preliminary exploration work at our district-scale Central Licence Package. With £1.78 million of direct research investment into the projects in 2021, it is pleasing to receive an R&D rebate of this quantum within a few months of the year-end," said Bob Smeeton, the chief financial officer of Oriole.