CAPITAL MARKETS

Orion rakes in another A$11M

Funds earmarked for Prieska BFS

Orion rakes in another A$11M

Tembo will now hold 23%, with the balance of the loan repayment being about $600,000.

Base metal miner Independence Group is not involved in the current fund raising, with its $5 million investment last month at a price of 5c per share said by Orion chairman Denis Waddell to have been made with the understanding that further funding initiatives would be undertaken for completing the bankable feasibility study and exploration.

Orion plans to complete the BFS in the fourth quarter, have all permitting in place by mid-2019, construct the project in 2019 and 2020, and get into production in 2021.

Prieska's current resource totals 29.4 million tonnes grading 3.8% zinc and 1.2% copper, with processing of about 1.2Mt per annum under consideration.

Substantial underground infrastructure is in place from previous mining.

Shares in Orion were at 4.1c prior to the trading halt called in relation to the current placement.

At 4.1c the company was capitalised at $57 million, with the stock up from levels around 2-3c 12 months ago.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.