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Orion Minerals completes BEE restructure with share issue

The company’s flagship asset is its Prieska Zinc-Copper Project in South Africa’s Northern Cape Province.

Orion Minerals Ltd - Orion Minerals completes BEE restructure with share issue

Orion Minerals Ltd (ASX:ORN) has completed the issue of shares as part of its Black Economic Empowerment (BEE) restructure.

Last Friday, Orion issued 47.82 million shares at a deemed issue price of 3.14 cents finalising the BEE restructure.

BFS sees 10-year mine at Prieska

The Prieska Project in the Northern Cape in South Africa is a globally-significant VMS resource of 30.49 million tonnes at 1.2% copper and 3.7% zinc.

The project’s BFS was completed in June 2019, based on an initial 10-year, 2.4Mtpa mining operation targeting 20-24ktpa copper and 70-80ktpa zinc.

Several optimisation studies commenced following the BFS release and are underway.

These include water treatment trials, value engineering related to ore processing, and mine-to-market optimisation.

Quick facts: Orion Minerals Ltd

Price: 0.016 AUD

ASX:ORN
Market: ASX
Market Cap: $46.39 m
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Full interview: Orion Minerals granted mining right for flagship South...

Orion Minerals Limited (ASX:ORN) managing director and CEO Errol Smart updates Proactive Investors on the company being granted the key mining right by the South African Department of Minerals Resources and Energy for the Prieska Copper-Zinc Project in South Africa. This marks a major...

on 3/9/19

2 min read