Black rock mining Mahenge

As a result of the COVID-19 pandemic, Australia-based OreCorp personnel and consultants will be restricted in their movements in the coming months.

All overseas travel has been cancelled with future travel dependent on guidelines from government and relevant authorities.

OreCorp will remain well represented in Tanzania with one resident expatriate, three senior Tanzanian Nationals and two local Tanzanian Directors.

The Company continues to be engaged in dialogue with the relevant Ministries of the Government of Tanzania (GoT) and their representatives with regard to OreCorp’s activities in-country and the pending grant of the Special Mining Licence (SML).

Recent meetings were held in late January and early March between the OreCorp’s CEO and senior GoT representatives including the Minister, Deputy Minister and Permanent Secretary of the Ministry of Minerals and the Chief Executive of the Tanzanian Mining Commission.

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These meetings have been positive and constructive. At all meetings, the process of granting the SML was articulated by the GoT representatives as being in its final stages.

This sentiment was also echoed by the Minister of Minerals in recent press articles in Tanzania.

OreCorp will continue to work with all levels of the GoT to deliver the SML and ultimately the first large scale gold mine in Tanzania in over a decade. The site at Nyanzaga will maintain staffing levels commensurate with current activities.

Mapping and sampling programs are continuing, Definitive Feasibility Study-related activities are being undertaken, together with preparations for implementation of the Relocation Action Plan once the SML is granted.

In recognition of the potential threat of the COVID-19 virus, the appropriate industry standard measures and protocols are in place to maintain the health, safety and security of the Company’s staff at site and are under continuous review.

The Company notes that as of 30 March 2020, a total of 19 COVID-19 cases have been confirmed in country by the GoT.

The Tanzanian Government response measures include the closing of schools, quarantining international visitors, restriction on travel and the implementation of social distancing.

OreCorp is well funded with approximately A$14.4 million (including US$ denominated funds of approximately US$8 million) at the end of December 2019.

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In light of the current situation and in response to the developing COVID19 virus pandemic, OreCorp is taking prudent action to reduce overheads and conserve funds during this period of market uncertainty.

The Company’s offices in Perth and Tanzania will remain open and will be manned by one employee at a time, with the remainder of staff and consultants working from home.