PERTH (miningweekly.com) – ASX-listed OreCorp is considering demerging its Western Australian exploration assets, allowing the company to focus on the development of its Nyanzaga gold project, in Tanzania.
The Western Australian assets include the Hobbes project, in the Eastern Goldfields, which is currently held by the wholly owned subsidiary OreCorp Holdings.
The company is looking to finalise details of the proposed merger in the coming weeks.
OreCorp has finalised a preliminary schedule to complete the definitive feasibility study for the Nyanzaga project by the end of the first quarter of 2022.
Front-end engineering and design will be completed by the third quarter of 2022, and assuming project financing is in place, OreCorp is aiming to start construction at Nyanzaga by the third quarter of 2022.