While it at times seems like a snail race we seem to be getting there slowly.
The Ministry of Minerals has previously indicated that the SML will be granted following completion of 100% ownership of the Project by OreCorp. The Company is working with the Ministry of Minerals to progress the grant of the SML. Earlier this month OreCorp hosted a delegation from Government of Tanzania, including the Permanent Secretary of the Ministry of Minerals and keys members from the Mining Commission, who conducted a review of the Project at the Nyanzaga site. OreCorp received positive feedback from the delegation and appreciates the continued support of the Government of Tanzania. Upon the grant of the SML, OreCorp will welcome the Government of Tanzania as a shareholder of NMCL, pay the balance of US$8,050,000 of the consideration payable for the acquisition of NMCL and ultimately deliver Tanzania and all its stakeholders its first large scale gold mine in over a decade.
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- Ann: Completion of acquisition of 100% of Nyanzaga Project
Ann: Completion of acquisition of 100% of Nyanzaga Project, page-2
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