OreCorp Limited is an ASX Listed (ORR) company with Matt Yates and Henk Diederichs as Executive Chairman and CEO & Managing Director, respectively. OreCorp is well funded with no debt and its key project is the advanced multi-million ounce Nyanzaga Gold Project in northwest Tanzania. A Definitive Feasibility Study has been recently completed outlining a high margin, low cost gold producer with a production profile of 242kozs per annum over 10 years. OreCorp is expanding its corporate profile and concluding its project financing.
Federation Mining PL (AustralianSuper) – 12%
Wilson Asset Management – 11%
Rollason Pty Ltd – 10%
Mutual Investments Pty Ltd – 7%
Directors & Associates – 10%
Matthew Yates – Executive Chairman
Mr Yates is a geologist with over 35 years’ industry experience, covering most facets of exploration from generative work to project development. Prior to founding OreCorp Limited, he was the Managing Director of OmegaCorp Limited and then Joint Managing Director of Mantra Resources Limited and was instrumental in the acquisition of a number of uranium projects, including Mkuju River (Tanzania), Kariba (Zambia) and Mavuzi (Mozambique). He has worked in Australia and southern, east and west Africa, Central Asia and the Gulf Region. He managed exploration teams in Western Australia and Tanzania respectively. Mr Yates has an applied technical background and has held senior positions for over 25 years, including resident Exploration Manager in Tanzania for Tanganyika Gold Limited.
Henk Diederichs – CEO & Managing Director
Mr Diederichs is an engineer with over 20 years of experience in the mining industry with extensive expertise in project development and operations. He was recently the Senior Vice President Operations for West African producer Allied Gold Corp, which operates the Bonikro, Agabou and Sadiola gold mines. Mr Diederichs formed an integral part in the successful development and operation of Equinox Minerals’ Lumwana Copper Mine in Zambia. During this time Lumwana was developed into one of Africa’s largest open cut copper mines at a capital cost exceeding US$800m. He initially joined OreCorp Limited as Vice President Project Development in late 2016 and was instrumental in leading the Nyanzaga Gold Project in north-western Tanzania through the Scoping, Pre-Feasibility and Definitive Feasibility Study phases.
We aim to raise the profile of the Company and meet as many potential investors as possible.
• Conclusion of the Definitive Feasibility Study – high margin, low cost (AISC US$954/oz) with a long life production profile (10 years at 242,000oz/pa)
• Appointment of debt advisor – Auramet International LCC
• Indicative debt funding proposals received from European, African and Tanzanian banks for more than US$400M, well in excess of the US$300M debt target
• Identified Opportunities to Extend Life of Mine at Nyanzaga Gold Project
• Maintained a strong cash balance and key institutional and shareholder support and remain with A$25.6 million in cash (30 September, 2022) and no debt
Advance Project Financing and progress the RAP and engineering and procurement ahead of construction.
Conclude Financing and advance the RAP and engineering and procurement ahead of construction.
The key risks are low commodity prices and weak equity markets. We aim to cover these by being efficient, manage our cash in a prudent manner and deliver optimum results!
Focused and engaged Board and management with strong development experience and an advanced gold project of significant grade and scale.
Gold focussed development Company
Exceptional project in both grade and scale
Focussed Board and Management