ASX-listed OreCorp will undertake an institutional placement to raise A$13.3-million to help fund the acquisition of the Nyanzaga gold project, in Tanzania, and to fund drilling at the Hobbes prospect.
The company on Friday said that 53.1-million shares, at a price of 25c each, will be placed to domestic and overseas institutional and sophisticated investors, with Euroz acting as sole lead manager and bookrunner for the placement.