Dar es Salaam. A Canadian mining company Silvercorp Metals has signed a placement agreement with OreCorp whereby the former would provide an equity placement of $28 million Australian Dollars (about Sh46.7 billion) to OreCorp to advance the latter’s development of the Nyanzaga gold project in Mwanza, Tanzania.
Under the placement, OreCorp would issue 70.4 million shares to Silvercorp at a price of $0.40 Australian Dollars (Sh666.7) per OreCorp share, according to a statement availed to the media yesterday.
