Proactive Investors - Run By Investors For Investors

Orion Minerals welcomes South African institutional investor

Orion is progressing a bankable feasibility study (BFS) for its Prieska Zinc-Copper Project in South Africa.
shaking hands
The company is dual-listed in South Africa

Orion Minerals Ltd (ASX:ORN) has reached agreement with South African institutional investor, the Anglo American sefa Mining Fund (AASMF), resulting in it becoming a shareholder.

AASMF will redeem preference shares held in one of Orion’s key project subsidiaries for shares in Orion.

The value of the shares to be issued by Orion in consideration for the redemption will be between ZAR23.98 to ZAR24.99 million or about A$2.39 to A$2.50 million.

READ: Orion Minerals identifies new VMS style targets at world-class South African zinc-copper project

Orion’s managing director and CEO Errol Smart said: "AASMF’s original seed capital investment into Orion’s Repli subsidiary in 2015 was pivotal in helping to fund the early engineering work and to drill the first holes that demonstrated the huge potential of the Prieska deposit.

“This in turn assisted Orion in securing substantial foreign investment that has allowed us to advance the Prieska Project to the point where we have recently published a scoping study and updated mineral resource and are poised to deliver a comprehensive bankable feasibility study in Q2 2019.”

View full ORN profile View Profile

Orion Minerals Ltd Timeline

Related Articles

March 29 2019
The cash flow provides ballast against dilution, allowing the company carefully to consider each new opportunity on its merits
Supersaturated brine flows from the Long Canyon No 2 well to the cuttings pit
April 16 2019
The company has a $1.65 million commitment from a strategic investor and is rattling the tin for a further $1.35 million.
January 31 2019
Last year’s pre-feasibility study demonstrated the project’s large scale, long life and low-cost lithium production.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use