Orion Minerals Ltd (ASX:ORN)

Orion Minerals Ltd (ASX:ORN)


Share Price
$ 0.03
Change
0.002 (7.14 %)
Market Cap
$62.43 m
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Orion Minerals Ltd

Orion Minerals Ltd (ASX: ORN | JSE: ORN) is a mineral explorer and developer set to join the ranks of international base metal producers through the development of its flagship Prieska Zinc-Copper Project in South Africa’s Northern Cape Province.

EPIC: ORN
Market: ASX:ORN
JSE:ORN
52-week High/Low: A$0.045 / A$0.018
Sector: Mining
Market Cap: $62.43 m
Website: www.orionminerals.com.au
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Big Picture – A Deep Dive Examination of Orion Minerals Ltd


Orion Minerals Ltd Snapshot

Orion Minerals is a globally diversified metal explorer and developer which is on track to become a new generation base metals producer through the development of its flagship Prieska Zinc-Copper Project in South Africa’s Areachap geological terrane, Northern Cape.

The highly prospective Areachap Terrane provides Orion with world-class exploration pipeline with its characteristic Volcanogenic Massive Sulphide (VMS) that contain zinc-copper and intrusive nickel-copper-cobalt-PGE (Platinum Group Elements) mineralisation but there has been virtually no exploration in the region for the past 20 to 30 years.

In Australia, Orion has an exploration joint venture with Independence Group (ASX: IGO) in the world-class Fraser Range Province.

PRIESKA ZINC-COPPER PROJECT

Overview

The Prieska Zinc-Copper Project (Prieska Project) is the centrepiece of Orion’s asset portfolio. Historically mined between the 1970s and 1990s, Prieska is one of the world’s Top-30 volcanogenic massive sulphide (VMS) base metal deposits, with a recorded historical production of over 1Mt of zinc and 430k tonnes of copper from 46.8Mt of sulphide ore milled.

Orion is currently investigating the feasibility of developing a new mine in the footprint of the historical Prieska Mine, using the extensive remaining infrastructure, with the intent of extracting the unmined zinc-copper mineralisation from the Prieska Deposit.

(click here for more information on this project)


Areachap Exploration

Within the Areachap Belt, Orion holds a 1,790km2 land-holding that offers outstanding potential for the discovery of both Volcanogenic Massive Sulphide (VMS) mineralisation and intrusive Ni-Cu-PGE mineralisation.

(click here for more information on these projects)


Australian Exploration

Fraser Range Project
Nickel-Copper, Gold

On 10 March 2017, the Company secured the involvement of Independence Group NL (ASX: IGO), the owner of the Nova Bollinger Mine, in the ongoing exploration and evaluation of its highly prospective tenement package in the Fraser Range. A Joint Venture Agreement (JVA) was entered into with the leading mid-tier miner where terms of the JVA included Orion is free carried to the completion of a pre-feasibility study by IGO over the Fraser Range ground.

The Fraser Range Project consists of a substantial tenement holding in the Albany-Fraser Belt, which hosts Australia’s two most significant discoveries of the last decade, the Tropicana Gold Deposit and the Nova Nickel-Copper Cobalt Deposit.


Walhalla Project
Gold, Polymetals

The Walhalla-Woods Point District is most widely known as one of Victoria’s largest historical goldfields, with significant past production exceeding 4 million ounces of gold at a reported head grade of over 25g/t gold.

However while the Walhalla-Woods Point District is best known for gold mining, high-grade copper-nickel and Platinum Group Element (PGE) mineralisation also occurs within the belt.

In August 2014, Orion entered into an option agreement with A1 Consolidated Gold Limited (A1 Gold) for A1 Gold to acquire the Company’s Walhalla Project tenements. Orion will retain the rights to explore for, develop and mine all deposits which are 67% or greater intrusive hosted sulphide minerals, including copper, nickel and PGE’s with subordinate gold and silver.

Both the gold and copper-nickel-PGE mineralisation within this district is hosted within dykes from the Woods Point Dyke Swarm (WPDS), a series of ultramafic to felsic dykes occurring over a 75km long north-south belt which are now interpreted to be the “plumbing” for a magmatic system of significant scale.

Five key Cu-Ni-PGE occurrences are known within the WDPS and three of these lie within Orion’s tenement package. Despite these occurrences being known, sampled and, in the case of Coopers Creek, previously mined there has been only been sporadic exploration for polymetallic deposits (mostly in the 1970’s & 1980’s).

 

Last updated 11th June 2019

Denis Waddell
Chairman

Denis is a Chartered Accountant with extensive experience in the management of exploration and mining companies. Denis founded Tanami Gold NL in 1994 and was involved with the Company as Managing Director and then Chairman and Non-Executive Director until 2012. Prior to founding Tanami Gold NL, Denis was the Finance Director of the Metana Minerals NL group. During the past 30 years, Denis has gained considerable experience in corporate finance and operations management of exploration and mining companies.


Errol Smart
Managing Director and Chief Executive Officer

Errol is a geologist, registered with the South African Council of Natural Scientific Professionals, a Recognised Overseas Professional Organisation for JORC purposes. Errol has more than 24 years of industry experience across all aspects of exploration, mine development and operation, with a key focus on gold and base metals. Errol has a wealth of public and private company corporate experience and has been on the founding teams and managed a number of exploration and mining companies throughout Africa and has had strong exposure to Australian projects. Errol has held positions in Anglogold, Cluff Mining, Metallon Gold, Clarity Minerals, African Stellar Group and LionGold Corporation. Errol is Chairman of the Junior Leadership Forum of the Minerals Council South Africa and is a board member of the Minerals Council.


Alexander Haller
Non Executive Director

Alexander is a partner of Zachary Capital Management, providing advisory services to a number of private investment companies including Silja Investment Ltd, focusing on the principal investment activities for these companies. From 2001 to 2007 Alexander worked in the corporate finance division at JPMorgan in the U.S, advising on corporate mergers and acquisitions as well as financing in both the equity and debt capital markets.


Mark Palmer
Non Executive Director

Mark has 12 years experience working with entities in Australia, including 8 years with Dominion Mining.  In 1994 Mark joined NM Rothschild & Sons Limited in the London mining project finance team assessing mines and projects globally.  In 1997 Mark moved to the investment banking team at UBS to focus on global mergers and acquisitions, equity and debt financing in the mining sector.  Mark ran the EMEA mining team at UBS for 8 years.  Mark joined Tembo Capital as Investment Director in 2015.


Godfrey Gomwe
Non Executive Director

Godfrey Gomwe has extensive experience as an executive in metals and mining industries. He is the former Chief Executive Officer of Anglo American’s Thermal Coal business, whose responsibilities included oversight over Anglo’s Manganese interests in the joint venture with BHP.

Previously Executive Director of Anglo American South Africa until August 2012, his career included roles as Head of Group Business Development Africa, Finance Director and Chief Operating Officer of Anglo American South Africa. Previously, Godfrey was Chairman and Chief Executive of Anglo American Zimbabwe Limited. He also served on a number of Anglo American Operating Boards and Executive Committees including Kumba Iron Ore, Anglo American Platinum, Highveld Steel & Vanadium and Mondi South Africa, the latter two in the capacity of Chairman.


Tom Borman
Non Executive Director

Tom is a respected and highly experienced global mining executive who served more than 11 years working for the BHP Billiton Group in various senior managerial roles, including that of Chief Financial Officer of an Australian-listed mining company. He also held senior roles in strategy and business development, and served as the project manager for the merger integration transaction between BHP Limited and Billiton.

After leaving BHP Billiton in 2006, Mr Borman joined Warrior Coal Investments (Proprietary) Limited, where he formed part of the executive team which established and consolidated the portfolio of assets which became the Optimum Group of companies. Optimum listed on the Johannesburg Stock Exchange in 2010, and was subsequently acquired by Glencore for R8.5 billion in March 2012.

 

Last updated 11th June 2019

Postal Address

Po Box 260
Collins Street West
Victoria
8007

Directors

Denis Waddell (Chairman)
Errol Smart (Managing Director and CEO)
Alexander Haller (Non Executive Director)
Godfrey Gomwe (Non Executive Director)
Mark Palmer (Non Executive Director)
Thomas Borman (Non Executive Director)


Company Secretary

Martin Bouwmeester


Registered Office and Principal Place of Business

Suite 617, 530 Little Collins Street
Melbourne, VIC, 3000

Tel: +61 (0)3 8080 7170
Email: [email protected]
Web: www.orionminerals.com.au


SA Office, Kimberley

87 Central Road, Herlear
Kimberley 8301, South Africa

Email: [email protected]


Share Registry

ASX Listing

Link Market Services Ltd
Locked Bag A14, Sydney
South NSW 1235

Tel: +61 1300 554 474
Fax: +61 2 9287 0303
Email: [email protected]


JSE Listing

Link Market Services Ltd
Po Box 4844, Johannesburg
South Africa 2000

Tel: +27 86 154 6572
Fax: +27 86 674 4381

ASX Share Code: ORN
JSE Share Code: ORN


Auditors

BDO East Coast Partnership
727 Collins Street
Melbourne VIC 3008

 

Last updated 11th June 2019

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