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BRIEF-Orecorp Ltd enters into jv with Acacia for the Nyanzaga Project

Published 22/09/2015, 10:46 am
© Reuters.  BRIEF-Orecorp Ltd enters into jv with Acacia for the Nyanzaga Project
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Sept 21 (Reuters) - Orecorp Ltd ORR.AX :

* Orecorp enters into jv with Acacia for the Nyanzaga Project

* Entered into jva to earn up to a 51% interest in the Nyanzaga Gold project (Nyanzaga or the project) in the Lake Victoria Goldfields Of Tanzania

* Says consideration comprises US$1 million in an upfront cash payment

* Says the Tanzanian ministry of energy and minerals has confirmed in writing that it will support the joint venture to advance the project

* Says Orecorp may increase to a 51% interest by making cash and royalty payments up to a total of US$15 million

* Source text for Eikon ID:nASX37rHYz

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