Total
0
Shares
OreCorp (ASX:ORR) - Chairman, Craig Williams (left) & CEO and Managing Director, Matthew Yates (right)
Chairman, Craig Williams (left) & CEO and Managing Director, Matthew Yates (right)
Source: Business News
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • 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.

ORR by the numbers
More From The Market Herald
Kopore Metals (ASX:KMT) - Managing Director, Simon Jackson (right)

" Kopore Metals (ASX:KMT) planning capital raise

Kopore Metals (KMT) has entered into a trading halt ahead of an upcoming capital raise.
Bio Gene Technology (ASX:BGT) - CEO & Managing Director, Richard Jagger

" Bio-Gene Technology (ASX:BGT) halts trade following research agreement

Bio-Gene Technology (BGT) has placed its shares in a trading halt while it plans the details of an upcoming capital raising.
Johns Lyng Group (ASX:JLG) - Managing Director and CEO, Scott Didier

" Johns Lyng Group (ASX:JLG) in back-to-back trading halts

Johns Lyng Group (JLG) has entered consecutive trading halts regarding a ‘material’ transaction and a capital raise.
Environmental Group (ASX:EGL) - Chairwoman, Lynn Richardson

" Environmental Group (ASX:EGL) pauses trading as it plans capital raise

The Environmental Group (EGL) has entered into a trading halt as it plans an upcoming capital raise.