OreCorp raises A$13m for Tanzanian project
PERTH (miningweekly.com) – Gold and base metals developer OreCorp has raised A$13.56-million through a share placement to institutional and sophisticated investors to fund continued work at its Nyanzaga gold project, in Tanzania.
The company will place 45.2-million shares, at a price of 30c each, in a single tranche under its existing placement capacity.
The placement price represented a discount of 11.8% to OreCorp’s last closing price on May 14, and a 5.6% discount to the company’s 30-day volume weighted average share price.
The company on Tuesday said that following the share placement its cash position would increase to around A$26-million.
Proceeds from the placement will go towards the definitive feasibility study and relocation action plan studies for the Nyanzaga project, as well as for pre-development activities at the project.
Funds will also go towards further work at the Hobbes gold project, in Western Australia, including infill drilling and the potential expansion of the project area, as well as for general working capital.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation