trending Market Intelligence /marketintelligence/en/news-insights/trending/ETqzDJI5BnVn4XQsLzNm-Q2 content esgSubNav
In This List

OreCorp targets A$13.3M to fund Nyanzaga gold project deal, work at Hobbes

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


OreCorp targets A$13.3M to fund Nyanzaga gold project deal, work at Hobbes

OreCorp Ltd. outlined plans to raise A$13.3 million mainly to acquire a 100% interest in the Nyanzaga gold project in Tanzania and conduct further work on the Hobbes gold project in Western Australia. Proceeds will also go toward exploration and general working capital.

The company said Aug. 16 that the offering, comprising 53.1 million common shares at 25 Australian cents apiece, will increase its cash position to about A$22 million.

OreCorp completed a 51% joint venture earn-in on the Nyanzaga project in July and signed a binding agreement with Acacia Mining PLC to increase its stake to 100% by paying a further US$7 million.