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Canada’s Silvercorp Metals has officially stepped aside from the race to control Africa-focused gold explorer OreCorp ,The Vancouver-based miner, which has been a rival bidder for OreCorp for months, has agreed to sell its 15.6% shareholding in the Australian junior to Perseus. This takes Perseus’ interest in OreCorp to just under 75%.
OreCorp noted on Wednesday that it’s already actively working with Perseus to transition its board and management team in respect of the takeover. A 2022 definitive feasibility study gave Nyanzaga an after-tax net present value of $618 million at a 5% discount rate and an internal rate of return of 25%.
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