- OreCorp (ORR) enters a mid-week trading halt while it plans an upcoming capital raising
- The company will remain in the halt until June 18 or when more details regarding the raise are released, whichever occurs first.
- On June 11, the company revealed it can begin developing the Nyanzaga Project in Tanzania following approval from the Tanzanian Cabinet of Ministers
- The company is aiming to have the definitive feasibility study completed by the end of Q1 2022 and a front end engineering and design completed by Q3 2022
- Shares in OreCorp last traded at 94.5 cents on June 15
OreCorp (ORR) has entered a mid-week trading halt while it plans an upcoming capital raising.
The company will remain in the halt until June 18 or when more details regarding the raise are released, whichever occurs first.
OreCorp is yet to disclose how much it intends to raise or what it will use the funds for.
On June 11, the company updated the market regarding the upcoming activities at at the Nyanzaga Gold Project in Tanzania.
Following approval from the Tanzanian Cabinet of Ministers of the Special Mining Licence, OreCorp can begin developing the project.
The company is aiming to have the definitive feasibility study completed by the end of Q1 2022 and a front-end engineering and design completed by Q3 2022.
The majority of the site work for the definitive feasibility study has been completed and geotechnical, hydrological and sterilisation drilling will be undertaken to finalise the site layout.
OreCorp will also undertake additional drilling to increase the current mineral resource estimate from inferred to measured and indicated.
Shares in OreCorp last traded at 94.5 cents on June 15. The company has a $302.7 million market cap.