Orion Minerals Ltd (ASX:ORN) non-executive direct Alexander Haller has acquired 9.61 million shares valued at $250,000.
The acquisition increases Haller’s holding in the company to around 89 million shares.
Haller is a partner of Zachary Capital Management, providing advisory services to a number of private investment companies and prior to this worked at JPMorgan in M&A.
Shareholder letter from recent annual report
Orion’s chairman Denis Waddell wrote in a letter to shareholders recently: “I am pleased to report on what has been another exceptionally busy and positive year for Orion, during which we have achieved major milestones towards becoming a diversified metal miner and explorer.
“Given our achievements, we are now on track to become a new generation base metals producer through the development of our flagship Prieska Copper-Zinc Project in South Africa’s Areachap geological terrane, in the Northern Cape.”
BFS sees 10-year mine at Prieska
The Prieska Project in the Northern Cape in South Africa is Orion’s flagship project and is paving the way for further exploration of the valuable, geologically-rich Areachap Belt.
The Prieska Project is a globally-significant VMS Resource of 30.49 million tonnes at 1.2% copper and 3.7% zinc.
The project’s BFS was completed in the second quarter of CY2019, based on an initial 10-year, 2.4Mtpa mining operation targeting 20-24ktpa Cu, 70-80ktpa zinc.
Project approvals are nearing completion, with both the Environmental Authorisation and the Mining Right for the Repli portion of the deposit granted.
The project investment decision is expected by late 2019 to early 2020.