Ora Gold Ltd has finalized the acquisition of the Murchison Project

Ora Gold Ltd (ASX: OAU) has successfully acquired Sipa Resources Limited's (ASX: SRI) Murchison project. This transaction involved the initial payment of 50% of the total amount to Sipa, with the remaining balance expected to be received within three months. The Murchison project, situated adjacent to Ora's existing holdings, enhances Ora's strategic position as it pursues further discoveries and expands its resource portfolio within the same district.

Notably, Ora's recent announcement of high-grade drill intercepts on August 23, 2023, underscores the progress in this endeavour. The deal encompasses a total consideration of AU$1.4 million for Sipa, comprising AU$600,000 in cash and AU$800,000 worth of Ora shares at an assumed price of 0.6 cents per share, with half of the shares subject to a voluntary 12-month escrow period.

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