logo-loader
Orion Minerals Ltd

Orion Minerals appoints financial advisor to develop funding strategy for Prieska Project

Orion will work with Endeavour Financial to evaluate and put in place debt financing for the development of the Prieska Zinc-Copper Project.

project funding representation
Moving towards a project development decision in Q3 2019

Orion Minerals Ltd (ASX:ORN) (JSE:ORN) has appointed Endeavour Financial, a leading financial advisor in the mining sector, to assist in the evaluation of funding options for Orion’s Prieska Zinc-Copper Project in South Africa.

Earlier this month, Orion revealed an upgraded total resource of 30.49 million tonnes grading 3.7% zinc and 1.2% copper for the Prieska project.

READ: Orion Minerals upgrades Prieska zinc-copper resource to over 30 million tonnes

The bankable feasibility study (BFS), which will incorporate the new resource, is on track for completion in Q2 2019.

Orion plans to advance Prieska at the earliest opportunity in order to realise the project’s significant potential.

Optimised funding strategy

Endeavour Financial has extensive experience in assisting companies to structure project funding solutions across diverse commodities, geographies and sources of financing and has a proven track record in successfully financing projects in sub-Saharan Africa.

The funding options analysis to be undertaken by Endeavour will assist Orion to develop an optimised funding strategy for the Prieska Project.

READ: Orion Minerals secures finance facility to progress Prieska Zinc-Copper Project BFS

Orion chairman Denis Waddell said: “We look forward to working with the Endeavour Financial team to evaluate and put in place debt financing for the development of the Prieska Zinc-Copper Project.

“We will be considering various funding sources and will work to have project financing in place to move forward with a project development decision in Q3 2019.

“Our focus is on bringing the 2.4 million tonnes per annum Prieska Project into production as quickly as possible, based broadly on the parameters outlined in the positive Scoping Study released in December 2018.

“The BFS is well advanced and on track to be completed in Q2 2019.”

Quick facts: Orion Minerals Ltd

Price: $0.03

Market: ASX
Market Cap: $72.02 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Orion Minerals Ltd named herein, including the promotion by the Company of Orion Minerals Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

BFS confirms 'quality and scale' of Orion Minerals' Prieska project

Orion Minerals Ltd's (ASX:ORN) Errol Smart talks Proactive London's Andrew Scott through the just-released BFS (Bankable Feasibility Study) on its Prieska Project in the Northern Cape region of South Africa. Smart's delighted with the results of it which he says confirm the project's...

on 24/6/19

2 min read