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.