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ORR, ORECORP LIMITED
denpal
post Posted: Sep 16 2019, 03:25 PM
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Good news today, the Tanzanian Govt has approved our move to 100% ownership of the project from 51%. Once our directors have replaced the previous ones, the government will approve the mining licence. If you've been following the story you'll know this is great news, been a fairly long and testing wait to get to this point. NB the Govt has a 16% FCI which comes out of our 100%. DYOR, I hold these.

ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
OreCorp Receives Tanzanian Mining Commission and Fair Competition Commission Approvals
OreCorp Limited (OreCorp or the Company) is pleased to advise that its wholly owned subsidiary, OreCorp Tanzania Limited (OreCorp Tanzania) has received the Tanzanian regulatory approvals required to complete the acquisition of 100% of Nyanzaga Mining Company Limited (NMCL). OreCorp Tanzania has received approval from the Tanzanian Mining Commission (TMC) to acquire control of NMCL and further approval from the Fair Competition Commission (FCC) to acquire 100% of NMCL. NMCL is the Tanzanian company which holds the Nyanzaga Gold Project (Nyanzaga or Project) and has applied for the Special Mining Licence (SML).
The Company would like to thank the Chairman and the Chief Executive of the TMC and each of the Commissioners, and the Director General and the Chairman of the FCC and each of the Commissioners for expediting the approval processes.
OreCorp anticipates that the acquisition of 100% of NMCL will complete in the coming days. OreCorp has appointed one director to the board of NMCL and will replace the other directors of NMCL. As indicated in our previous ASX release (2 September 2019), the Company had been advised by the Ministry of Minerals that the SML would be granted following the completion of the change in ownership of NMCL.
The Company considers the TMC and FCC approvals as significant milestones and further demonstrates the constructive working relationship that the Company has with all levels of the Government of Tanzania (GoT). Successful conclusion of the transaction will ultimately deliver Tanzania and all its stakeholders the first large scale gold mine development in over a decade. Upon the grant of the SML, the Company will welcome the GoT as a shareholder in NMCL.

For further information please contact:
Matthew Yates
+61 417 953 315
CEO and Managing Director

 
denpal
post Posted: Sep 10 2019, 11:21 AM
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In Reply To: denpal's post @ Sep 2 2019, 06:43 PM

Share price holding at 43c, have noticed buy depth has greatly increased this last few days, buyers being careful not to scare the horses by buying patiently. There is a latest presentation out that reads well, although not really any new information.

 
denpal
post Posted: Sep 2 2019, 06:43 PM
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In Reply To: denpal's post @ Sep 2 2019, 03:15 PM

Today's chart, 2 year weekly.
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denpal
post Posted: Sep 2 2019, 03:15 PM
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Great ann. today confirming ORR will take 100% ownership in the project and that the mining licence is on track to be issued. If you look at what the share price was a couple of years back when we had 25% with a right to move to 51%, coupled with the greatly increased gold price now and hence margin, today's sp at 46c appears to have a lot of headroom yet.

I've got confidence in management (proven Africa mine developers) and happy to hold a lot of these.

 
blacksheep
post Posted: Jul 10 2017, 03:56 PM
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ORR back trading. Certainly taking a whack. Being a gold company, and having a jv with Acacia Mining Plc - the company in the thick of reasons behind the changes - no doubt makes it more vulnerable than most of the other ASX graphite miners.

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QUOTE
PROPOSED LEGISLATIVE CHANGES IN TANZANIA

OreCorp Limited (OreCorp or the Company) refers to the Company’s announcement made
to the Australian Securities Exchange on 30 June 2017 in relation to the proposed
legislative changes in Tanzania.

OreCorp continues to review and seek advice on the proposed changes. Based on the
Company’s preliminary review of the draft legislation, the Company believes that, if passed
by the Tanzanian Parliament without any substantial amendments, the proposed changes
may potentially have an adverse effect on the Nyanzaga Project.

The Company has placed copies of the draft legislation on the Company’s website.
The Company will continue to provide further updates in relation to the proposed changes
and status of the draft legislation as and when appropriate.


QUOTE
On 13 March 2017, the Company announced that it had completed the third stage of its earn-in and JVA with Acacia Mining
plc
to earn up to a 51% interest in the Nyanzaga Project in the Lake Victoria Goldfields of Tanzania. The Project currently
hosts a JORC 2012 MRE of 3.3Mozs at 3.48g/t gold.






--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 3 2017, 01:04 PM
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In Reply To: denpal's post @ Aug 14 2016, 01:59 PM

Another stock impacted by the uncertainty of the proposed legislative changes in Tanzania Mining Laws.

Down 26.32% before a trading halt was issued - probably an ASX "speeding" ticket.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


denpal
post Posted: Aug 14 2016, 01:59 PM
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This is what has been happening lately to the share price.
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denpal
post Posted: Aug 10 2016, 03:33 PM
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The gold project scoping study was released today, all looks good and they are starting the PFS immediately.

There's also a new presentation.

SP now 65c.

 
denpal
post Posted: Aug 4 2016, 04:17 PM
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I see the rather thin sell side has been cleaned out on a good rise today to 55c. It's broken out from an ascending triangle but there is no volume available.

 
denpal
post Posted: Aug 2 2016, 03:40 PM
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Apart from the gold main game, this is pretty good for a first pass drilling on their Nickel-Copper prospect:

ASX RELEASE:
2 August 2016

Significant Nickel-Copper Drill Intercepts from
Akjoujt South Project, Mauritania

The Board of OreCorp Limited (OreCorp or the Company) is pleased to announce the
results from the reconnaissance diamond drilling program at the Akjoujt South Project
in Mauritania. Significant nickel-copper mineralisation has been intersected at shallow
depths over broad widths and significant strike length in four of the six holes drilled. The
drilling was designed to test the coincident geochemical, trench and geophysical
anomalism identified in previous campaigns.

Highlights Include:

 Nickel-copper mineralisation intersected from depths as shallow as 2m below
surface
 Drill intercepts are up to 31m down hole width, with peak nickel and copper
values of 1.34% and 1.29% respectively
 Mineralisation has been encountered over a total of one kilometre in strike
length, comprising a series of sub-parallel gossan/sulphide zones individually up
to 350m in strike length.
 Better drill intercepts include:
− ASPDD002 31m @ 0.31% Ni and 0.21% Cu from 11m; and 9m @ 0.21% Ni and
0.10% Cu from 94m
− ASPDD003 13m @ 0.35% Ni and 0.24% Cu from 2m; and 15m @ 0.58% Ni and
0.40% Cu from 19m (incl. 3m @ 1.28% Ni and 0.29% Cu from 29m)
− ASPDD004 16.7m @ 0.40% Ni and 0.22% Cu from 16.3m (incl. 1m @ 1.05%
Ni and 0.23% Cu from 31m)
− ASPDD005 4.7m @ 0.39% Ni and 0.20% Cu from 116.8m (incl. 0.70m @ 1.00%
Ni and 0.15% Cu from 116.8m)
 Petrology has confirmed a nickel-copper sulphide style of mineralisation

The Directors are greatly encouraged by these results. Follow-up work has already
commenced and additional geophysics is being planned ahead of further drilling at this
highly prospective project.

 
 


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