Orecorp Limited (ASX:ORR)
OreCorp Limited (ASX:ORR) is a development and exploration company. OreCorp's key projects are the Nyanzaga Gold Project (Nyanzaga or Project) in northwest Tanzania, the Hobbes Project in the Eastern Goldfields of Western Australia and the Akjoujt South Nickel-Copper-Cobalt sulphide Project (ASP) in Mauritania. OreCorp is currently seeking Joint Venture funding for the ASP. The Company is well funded with no debt.
The Nyanzaga Project is held by Nyanzaga Mining Company Limited (NMCL), which is currently a wholly owned subsidiary of Acacia Mining plc (Acacia). OreCorp through its Tanzanian subsidiary OreCorp Tanzania Limited has completed its obligations under the earn in agreement to earn a 51% interest in the Project (conditional upon regulatory approvals) and has signed a binding Conditional Agreement to advance to 100% of the Project – please refer to ASX release dated 6 September 2018 for further information.
Nyanzaga hosts a JORC 2012 compliant Mineral Resource Estimate (MRE) of 23.7Mt @ 4.0g/t gold for 3.07Mozs using a 1.5g/t lower cut-off. A Pre-Feasibility Study has been completed and confirmed the significant potential of the Project. The Project Financing Definitive Feasibility Study (DFS) has commenced.