Ann: Nyanzaga Project Update - Completion of Earn-in Phase, page-2

Wow ORR is doubling down on Tanzania

OreCorp has also signed a binding conditional heads of agreement with Acacia and NMCL to allow OreCorp to move to 100% ownership of Nyanzaga, by making a further payment of US$7 million. Acacia will also retain a net smelter return royalty (NSR), capped at US$15 million. The NSR will be paid at 1% with a gold price US$1,600/oz gold. The acquisition of the additional 49% of shares in NMCL is conditional on the Tanzanian regulatory approvals referred to above, to allow OreCorp to increase its interest in NMCL to 100%, on the grant of the Special Mining Licence (SML) in respect of the Project and on the parties entering into definitive documents in respect of the 100% acquisition.

I think this is very bullish. Obviously Tanzania were not going to approve any mining license with Acacia involved. ORR is now able to go the Tanzanian government and say we are clean of any past wrongs, give us a license. Things might finally be about to start moving.