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clock Created with Sketch. 20/07/18
10:08
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Originally posted by Davisite
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Wow ORR is doubling down on TanzaniaOreCorp 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.
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lol..notice the sell side completely thin pre-open and share price is now 24c...
