https://www.engineeringnews.co.za

Orion Minerals raises funds for Prieska

1st November 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

South Africa-focused Orion Minerals will raise some A$5.5-million from a share placement to sophisticated and professional investors to fund the completion of a bankable feasibility study (BFS) and early-stage work at the Prieska copper/zinc project, in the Northern Cape.

The company said last week it had received firm commitments for the placement of 222-million shares, priced at 2.5c each, with shareholder Tembo Capital Mining Fund and its affiliates subscribing for A$2.5-million of the placement.

The placement falls within Orion’s placement capacity, and will not require shareholder approval.

“Importantly, the funds raised will be used to take us to the next significant milestones – completion of optimisation studies on the already positive Prieska copper/zinc project BFS, commencement of Prieska project early works, and progressing the financing negotiations and contract preparations for the Prieska project,” said Orion chairperson Denis Waddell.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.043 0.908s - 122pq - 2rq
Subscribe Now