Welcome to our dedicated page for Orecap Invest news (Ticker: ORFDF), a resource for investors and traders seeking the latest updates and insights on Orecap Invest stock.
Orecap Invest Corp (OTCQB: ORFDF; TSXV: OCI) issues frequent updates on its activities as an investment issuer in the natural resource sector. Its news flow centers on portfolio transactions, technical milestones on key projects and corporate structuring designed to create additional investment vehicles.
Recent announcements highlight Orecap’s focus on the Kirkland Lake and Larder Lake gold district, including consolidation and optioning of the McGarry Project in Virginiatown, Ontario. News releases describe McGarry as a strategic asset with underground infrastructure, historical resources and proximity to well-known deposits, and outline option agreements that allow partners to earn interests through work commitments and cash payments while Orecap retains a significant stake.
Orecap’s news also covers transactions that convert direct project ownership into equity positions. Examples include the definitive agreement to sell its 100%-owned Mirado property to Kirkland Lake Discoveries Corp. in exchange for a 19.9% shareholding, and the acquisition of a 19.9% interest in Kintavar Exploration through an asset purchase agreement involving the Roger Project. These updates explain how such deals align with Orecap’s stated strategy of holding material equity positions in exploration and development companies.
In addition, Orecap reports on the performance and plans of its portfolio companies, such as drilling programs, resource updates and strategic investments received by Awale Resources, American Eagle Gold, XXIX Metal and Mistango River Resources. Corporate news includes the completion of a plan of arrangement to spin out three subsidiaries as unlisted reporting issuers and the filing of updated NI 43-101 technical reports on projects like McGarry, Mirado and Knight. Investors following ORFDF news can use these releases to track how Orecap reallocates capital, structures partnerships and advances its exposure to gold, copper and zinc projects.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) announces that its portfolio company American Eagle Gold has secured a $29.16M strategic investment from South32. The investment involves issuing 33,321,577 common shares at $0.875 per share, representing a 15% premium. Upon closing, South32 will hold a 19.9% stake in American Eagle, which will have approximately $37M in cash. The deal includes an Investor Rights Agreement granting South32 participation rights and board representation. Orecap owns 11.7 million shares of American Eagle, which also has Teck Resources as another strategic investor.
Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) announces that QC Copper and Gold has offered to acquire all outstanding shares of Cuprum Corp. Orecap currently owns 37.9% of Cuprum and 2.9% of QC Copper. Post-acquisition, Orecap's ownership in QC Copper would increase to 15.2%. This transaction positions QC Copper as one of Canada's largest copper resource developers, with two multi-billion-pound copper deposits in Quebec and Ontario.
The acquisition includes Cuprum's Thierry Copper Project, a 7,907-hectare past producer with significant growth potential. QC Copper plans to rebrand as XXIX Metal Corp, reflecting copper's atomic number 29. The all-share deal involves QC Copper issuing 1.1538 shares for every Cuprum share, with Orecap receiving approximately 34 million shares. The transaction is subject to TSXV and shareholder approvals, with closing expected by the end of December 2024.
Orecap Invest Corp (TSXV: OCI) (OTCQB: ORFDF) provided updates on its portfolio companies, highlighting significant drill results and corporate developments:
1. Awale Resources reported high-grade gold intercepts at its Odienne project, including 20 g/t gold over 29m.
2. American Eagle Gold announced long, high-grade copper-gold intercepts from surface at its NAK project.
3. Mistango River Resources outlined a 28-hole drill program for its Omega Gold Project.
4. QC Copper & Gold established a working group with the City of Chapais for the Opemiska project.
5. Cuprum reported assay results showing significant copper equivalent grades over long intervals, indicating potential resource expansion at its K1 deposit.
Orecap Invest Corp. has announced notable results from Cuprum Corp's five drill holes at the Thierry copper project. Key highlights include a 114-metre intercept of 1.1% Copper Equivalent (CuEq) within a 171-metre interval grading 0.98% CuEq. Other significant results encompass 231 metres of 0.74% CuEq and 79 metres of 0.81% CuEq. Cuprum owns 100% of the Thierry Copper Project, Ontario's largest copper resource. Orecap holds 29.5 million shares of Cuprum Corp., while QC Copper, another Orecap portfolio company, owns 6 million shares. The drilling program suggests substantial potential for expanding the K1 Open Pit Zone, with the step-out holes revealing extended mineralization trends expected to continue beyond current depths.
The K1 deposit has a current inferred mineral resource of 53.6 million tonnes grading 0.38% Cu, 0.10% Ni, 1.8 g/t Ag, 0.03 g/t Au, 0.05 g/t Pt, and 0.14 g/t Pd. An updated PEA from April 2022 for the Thierry underground deposit outlined a 14-year mine life, producing 567 Mlbs Cu and 21 Mlbs Ni, with an after-tax NPV6% of $287M and an IRR of 25%. Cuprum aims to further delineate open pit resources and evaluate a larger bulk tonnage scenario for the project.
Orecap Invest Corp. (TSXV: OCI, OTCQB: ORFDF) updates on Cuprum Corp.'s Thierry Copper Project, the largest copper resource in Ontario. Cuprum owns 100% of the project and recently raised $1.2M through financing rounds at 12 and 15 cents per share. Orecap holds 29.5 million shares in Cuprum, valuing its investment at $3.54 million.
Technical progress includes assays commissioned for five drill holes from the Summer 2023 program, with results for two holes already indicating significant copper mineralization. Cuprum has completed an updated NI 43-101 technical report and is validating historical data for future development.
The Thierry project boasts a 2021 NI 43-101 compliant resource and a 2022 PEA outlining a 14-year mine life, a $287M after-tax NPV, and a 25% IRR. Cuprum plans to further delineate resources, aiming for a bulk tonnage scenario. Cuprum has also applied for a grant that could match up to $200,000 of exploration costs.
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