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ASX:ORN

5 stories mentioning ASX:ORNUpdated 13d ago

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Asia

Orion Minerals Advances Glencore Financing, Offtake Agreements; Shares Up 5%

Orion Minerals (ASX:ORN) has taken major steps toward finalizing its Glencore financing and offtake arrangements, securing South African Reserve Bank approval, progressing the intercreditor agreement with Triple Flag Precious Metals, and moving Glencore offtake agreements into final form, according to a Friday Australian bourse filing.The progress is expected to make tranche A of the financing unconditional and enable drawdown by the end of August, paving the way for construction of the Upper Zones to begin, per the filing.Tranche B remains contingent upon Glencore obtaining third-party, non-recourse financing to meet its prepayment obligations, the filing added.The company's shares rose around 5% in recent Friday trade.

ASX:ORN
Asia

Orion Minerals Says Drilling at South Africa Prospect Confirms Down-Dip Continuity of Mineralization

Orion Minerals (ASX:ORN) said the second drill hole completed as part of the 2026 drilling campaign at the Okiep copper project Flat Mine East prospect in South Africa confirmed the down-dip continuity of the mineralized norite unit intersected in a previous drill hole, according to a Monday Australian bourse filing.It encountered an intercept of 3.96 meters at 4.6% grade of copper, including 0.95 meters at over 14% grade of copper from 322.69 meters down-hole, the company said. The intersection is located 39 meters down-dip of the previously reported high-grade copper intercept.

ASX:ORN
Asia

Orion Minerals Says IDC Converts 344.5 Million South African Rand Loan Into Equity in Prieska Project

Orion Minerals (ASX:ORN) said the Industrial Development Corporation of South Africa (IDC) converted its about 344.5 million South African Rand convertible loan facility into equity in unit PCZM HoldCo, becoming a 23.8% shareholder in PCZM HoldCo and giving it an effective interest of about 16.7% in PCZM, according to a Friday Australian bourse filing.The company said the IDC retains a shareholder loan claim against PCZM HoldCo of about 272.4 million South African Rand, with all security granted in connection with the facility agreement released following the conversion.The IDC, as a long-standing development finance partner, becomes a direct shareholder in PCZM HoldCo, deepening its strategic alignment with the Prieska project, the filing added.

ASX:ORN
Asia

Orion Minerals Says Resource-Optimization Drill Hole Completed at South Africa Prospect Confirms 'Significant' Growth Potential

Orion Minerals (ASX:ORN) said results from the first resource-optimization drill hole completed at the Okiep copper project Flat Mine East prospect in South Africa confirmed "significant" growth potential, according to a Wednesday Australian bourse filing.The results validate earlier visual estimates and include an intercepts of 7.9 meters at 9.2% grade of copper from 311.3 meters, the company said.

ASX:ORN
Asia

Orion Minerals Extends Copper Mineralization at South Africa Copper Project

Orion Minerals (ASX:ORN) intersected a 7.88-meter zone of "significant" visible copper sulfide mineralization at the Flat Mine East prospect of its Okiep copper project in South Africa, according to a Tuesday Australian bourse filing.The intersection is located 36 meters down-dip from a previously reported high-grade intersection that returned 15 meters at 4.8% copper from 248 meters, confirming that mineralization continues down-dip beyond the current indicated resource envelope, the filing added.Assay results from resource optimization drill hole OFMND244 at Flat Mine North also returned 21.34 meters at 1.55% copper from 147.72 meters, it added.

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