Proactive Investors - Run By Investors For Investors

Orion Minerals managing director adds to shareholding, brings total to nearly 20 million shares

The company is shoring up its South African base metals-focused Prieska project with a bankable feasibility study.
Orion Minerals managing director adds to shareholding, brings total to nearly 20 million shares
Prieska was a historical copper mine that operated for 20 years until 1991

Orion Minerals Ltd (ASX:ORN) managing director & CEO Errol Smart has purchased 358,000 fully paid ordinary shares worth $10,001 in on-market trades.

The purchase increases Smart’s overall holding to 19,900,666 shares and 30 million options worth over $1.5 million.

Smart’s options are broken into three tranches of 10 million each, all expiring November 30, 2020 and exercisable at 2 cents, 3.5 cents and 5 cents, respectively.

READ: Orion Minerals puts in 131,000+ hours at Prieska mine ahead of March-April DFS

Orion is developing the Prieska Zinc-Copper Project in South Africa and expects to complete a bankable feasibility study in the June quarter of next year.

Recent assays from the final 17 intersections of a resource drilling program included thick, high-grade massive sulphides featuring 32 metres at 5.05% zinc, 1.7% copper, 0.3 g/t gold and 15.32 g/t silver.

Drilling also intersected a newly-identified gold-rich lens with intersections of 2.27 metres at 2.22 g/t gold, 2.8 metres at 2.4 g/t and 2.4 metres at 2.19 g/t.

This lens highlights the potential for additional mineralisation typical of volcanogenic massive sulphide (VMS) ore systems.

View full ORN profile View Profile

Orion Minerals Ltd Timeline

Related Articles

gold nugget
November 26 2018
The company is drilling at the old Albury Heath mine where it found bonanza-grade gold.
1536221978_Kogi---generic-steel-pic.jpg
September 06 2018
Kogi's plans to become an integrated steel producer will allow it to tap into a ready market
Greenland
December 19 2018
Alba holds 11.765% of the underlying Horse Hill project

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use