Silvercorp Metals, a China focused precious metals company, agreed to acquire the remaining 84.26% stake in OreCorp, a development and rare earth minerals exploration company, for $158m. "We are pleased to adjust our Transaction with OreCorp after it became clear that the previously proposed Scheme, due to outside interference, was at risk of not completing. Our Offer is subject to a very limited number of conditions. Silvercorp obtained the required approval of the Tanzania Fair Competition Commission ("FCC") approximately two months after the application was submitted. Even if an alternative proposal is made, there is uncertainty as to whether it would be successful in receiving similar FCC approval. Accordingly, our Offer provides OreCorp Shareholders with the opportunity to receive the Consideration in a timely manner. I encourage all OreCorp Shareholders to read the forthcoming Bidder's Statement for more details about the Offer and accept the Offer as soon as possible," Rui Feng, Silvercorp Chairman and CEO. On November 23, 2023, Silvercorp and OreCorp entered into amending agreement. On December 26, 2023, Silvercorp and OreCorp entered into bid implementation deed.