Orion signs definitive agreement for ZAR250 million convertible loan

Orion Minerals Ltd (ASX: ORN) has signed an agreement with the Industrial Development Corporation of South Africa for a ZAR250 million (~AU$21 million) senior secured convertible loan. The funds will be used to finance early mining operations and pre-development activities at the Prieska Copper-Zinc Project located in Northern Cape, South Africa.

The proceeds from this loan, combined with the funds from the Triple Flag Funding Arrangement, will aid in the completion of the Bankable Feasibility Study on the Early Production Plan at the Prieska Project. The loan will also allow the company to start the dewatering process at the existing underground mine, a crucial aspect for the project's long-term development.

Customer Notice:

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.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com