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Orion Minerals completes BEE restructure with share issue

The company’s flagship asset is its Prieska Zinc-Copper Project in South Africa’s Northern Cape Province.

Orion Minerals Ltd - Orion Minerals completes BEE restructure with share issue

Orion Minerals Ltd (ASX:ORN) has completed the issue of shares as part of its Black Economic Empowerment (BEE) restructure.

Last Friday, Orion issued 47.82 million shares at a deemed issue price of 3.14 cents finalising the BEE restructure.

BFS sees 10-year mine at Prieska

The Prieska Project in the Northern Cape in South Africa 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 June 2019, based on an initial 10-year, 2.4Mtpa mining operation targeting 20-24ktpa copper and 70-80ktpa zinc.

Several optimisation studies commenced following the BFS release and are underway.

These include water treatment trials, value engineering related to ore processing, and mine-to-market optimisation.

Quick facts: Orion Minerals Ltd

Price: 0.025 AUD

ASX:ORN
Market: ASX
Market Cap: $72.49 m
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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