https://www.miningweekly.com

OreCorp raises A$16.2m for gold projects

5th May 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed gold developer OreCorp would raise some A$16.2-million through a share placement to institutional and sophisticated investors in Europe and Australia, to fund scoping and feasibility studies on its Nyanzaga gold project, in Tanzania.

The company said on Thursday that up to 60-million shares would be issued at a price of 27c each to raise the capital.

The new shares would be allotted in two tranches, with the first falling under the company’s current placement capacity, and not requiring shareholder approval. The second tranche of some 31.64-million shares would be subject to shareholder approval.

A shareholder meeting to approve the second tranche placement would be called as soon as possible.

CEO and MD Matthew Yates told shareholders that he was delighted with the support received from institutional investors, who clearly recognised the quality of the Nyanzaga gold project.

“The funds will allow OreCorp to rapidly advance the scoping and feasibility studies for Nyanzaga, and to aggressively pursue exploration programmes at both Nyanzaga and the Akjoujt South project.”

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.099 0.133s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: