What OreCorp does

OreCorp Limited (ASX: ORR) is an Australian public mineral development and exploration company headquartered in Subiaco, founded in 2010, with a workforce of 11-50 employees. The company is a single-asset developer whose entire strategic focus is the Nyanzaga Gold Project in Tanzania, which hosts approximately 2.6 million ounces of gold resources. OreCorp's core activity is advancing this project through development stages toward potential future gold production. Its current operations are concentrated entirely in the East Africa / Tanzania jurisdiction, with no other active exploration or development assets disclosed.

The company's business model is that of a pre-revenue resource developer: revenue is not yet generated and will ultimately derive from the sale of refined gold into global commodity markets, bullion banks, and jewelry manufacturers upon production commencement. Pricing will be set by prevailing market gold prices, and OreCorp has no commercial products, software, or services in market today. The company's principal commercial relationship is its strategic alignment with Perseus Mining Limited, an established ASX/TSX-listed African gold producer that acquired a 15.03% stake in OreCorp in November 2023 and subsequently acquired the Nyanzaga Gold Project itself in 2024.

Leadership consists of Matt Yates as CEO & Managing Director, Michael Klessens as Founder & Non-Executive Director, and Craig Williams as Chairman. The company has been funded historically through equity raises (including approximately $42.3 million in June 2021) and has reported persistent operating losses across 2019-2023, consistent with a development-stage mining company in advance of first production. The Perseus Mining transaction effectively converts OreCorp from an independent developer into a minority-interest vehicle anchored to Perseus's broader multi-mine African gold platform.

Name

OreCorp

Legal name

OreCorp Limited

Website

https://orecorp.com.au

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

OreCorp Limited (ASX: ORR) is an Australian public gold developer focused on the Nyanzaga Gold Project in Tanzania, hosting approximately 2.6 million ounces of gold resources. The pre-revenue company is strategically aligned with Perseus Mining, which acquired a 15.03% stake and the underlying project.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (21222)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Precious Metals Exploration & Project Development (IMAKAEAI)

akta.pro secondary industry

Gold Mining (IMAKAEAA)

Keywords

• Gold mining
• Mineral exploration
• Gold project development
• Precious metals extraction
• Mining development

Headquarters

HQ city

Subiaco

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Supply Chain

Revenue model

1. Gold Production and Sale: OreCorp generates revenue through development and future production of gold from the Nyanzaga Gold Project in Tanzania, hosting approximately 2.6 million ounces of gold resources.

Go-to-market motion1 record

Distribution channels1 record

Core offering

OreCorp is a development and exploration company focused on advancing the Nyanzaga Gold Project in Tanzania, which hosts approximately 2.6 million ounces of gold resources. The company is pre-production, with future revenue to be generated through gold sales to global commodity markets once the asset reaches production. Perseus Mining acquired a 15.03% strategic stake in OreCorp and later the project itself, providing capital and operational expertise.

Product overview

OreCorp is a mining development company with a single primary asset: the Nyanzaga Gold Project in Tanzania. The project represents the company's core focus and contains approximately 2.6 million ounces of gold resources. Perseus Mining acquired a 15.03% strategic stake in OreCorp in November 2023, indicating industry recognition of the project's potential in a known gold mining jurisdiction.

Differentiator

Problem solved

Functional benefit

Products and services

• Nyanzaga Gold Project

Quantifiable outcome

• Approximately 2.6 million ounces of gold resources available for development

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Shanta Gold: Shanta Gold is an AIM-listed gold producer-developer with the New Luika and Singida mines in Tanzania. Closely comparable as an East Africa-focused gold developer producing from and developing Tanzamian assets in the same geological belt as Nyanzaga.
• Capricorn Metals: Capricorn Metals is an ASX-listed gold producer with the Karlawinda mine in Western Australia. Comparable as a junior-to-mid ASX gold developer that recently progressed a single-asset project into production, representing a relevant template for OreCorp's likely trajectory.
• Pantoro Limited: Pantoro is an ASX-listed gold producer operating the Norseman Gold Project. Comparable as a junior ASX-listed gold developer-producer that took an inherited asset from care-and-maintenance into production, illustrating a similar single-asset development pathway.
• Resolute Mining: Resolute Mining is an ASX-listed African-focused gold producer with operations in Mali and Senegal. Comparable as an ASX-listed gold developer/producer focused on West and East African gold assets targeting similar geological jurisdictions.
• West African Resources: West African Resources is an ASX-listed gold producer-developer with its flagship Sanbrado mine in Burkina Faso and the Kiaka development project. Comparable as a mid-cap ASX gold developer progressing single-asset African projects from feasibility into production.

Broad incumbents

• Perseus Mining: Perseus Mining is an ASX/TSX-listed multi-mine African gold producer operating Edikan (Ghana), Sissingué and Yaouré (Côte d'Ivoire), and is also the strategic 15.03% shareholder of OreCorp and developer of the Nyanzaga Gold Project. Comparable as both the parent/strategic partner and the most direct operational comp on Nyanzaga itself.
• Barrick Gold: Barrick Gold is one of the world's largest gold producers with significant African exposure including the Tongon mine in Côte d'Ivoire and Kibali in the DRC. Comparable as a broad incumbent relevant to large-scale African gold project development and the long-term benchmark for Nyanzaga's economics.
• Endeavour Mining: Endeavour Mining is a senior TSX/LSE-listed African gold producer with multiple mines across West Africa. Comparable as a larger incumbent in the same African gold development and production space, against which OreCorp's single asset will be benchmarked.

Regional players

• Ramelius Resources: Ramelius Resources is an ASX-listed mid-cap gold producer with multiple operations in Western Australia. Comparable as an Australian-domiciled ASX gold peer, though primarily operating in Australia rather than Africa, useful for capital-markets benchmarking.

Emerging players

• Tanzanian Gold Corporation: Tanzanian Gold Corporation is an exploration and development company focused on the Buckreef Gold Project in Tanzania. Comparable as a direct regional peer pursuing gold project development in the same Tanzanian jurisdiction as Nyanzaga.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks4 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OreCorp