Orion Minerals Limited (ASX: ORN) announced that it had received firm commitments for a two-tranche share placement to sophisticated and professional investors to raise AU$13 million as part of a broader strategic funding package. This funding package will result in the introduction of a new cornerstone investor group and provide the company with an exceptional springboard to accelerate the development of both of its key base metal production hubs in South Africa's Northern Cape Province. The Placement includes the issue of approximately 882 million shares at 1.5 cents per Share (ZAR18 cents).
The funds raised via the placement, combined with other funding arrangements, will allow the company to settle the outstanding amount of the Anglo American sefa Mining Fund loan facility, progress the development of the Company’s Prieska Copper-Zinc Mine, progress the Feasibility Study, permitting and acceleration of early production at the Okiep Copper Project and for general working capital requirement.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
