Unfortunately for its shareholders, the Orecorp Ltd (ASX: ORR) share price has been amongst the worst performers on the market today.
In afternoon trade the gold miner's shares are down 26% to 28 cents and are now in a trading halt.
What happened?
This morning it emerged that the Tanzania government has proposed legislative changes that could negatively impact operations at its Nyanzaga Project in the country.
This is a further blow to the company. Recently the Tanzania government approved a new Finance Act, which will impose a 1% clearing fee on the value of all minerals exported from the country from 1 July 2017.
Management has advised that it continues to review and seek advice on the proposed changes.
If you are considering investing in Orecorp or any of the other gold miners, have a read of this first.
