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An announcement from Orion Minerals Limited ( (AU:ORN) ) is now available.
Orion Minerals Limited has secured a $2 million unsecured loan facility from Ratel Growth Pty Ltd, a company controlled by former director Mr. Thomas Borman. This loan underscores Ratel’s continued support for Orion’s projects, particularly the Prieska Copper Zinc Mine and the Okiep Copper Project in South Africa. The loan facility is structured to be set off against future capital raising efforts by Orion, with the funds primarily allocated to advance these key projects and support the company’s working capital needs. This financial backing is expected to bolster Orion’s development efforts and strengthen its position in the mining industry.
More about Orion Minerals Limited
Orion Minerals Limited is an Australian company engaged in the exploration and development of mineral resources, primarily focusing on copper and zinc. The company is actively working on projects in South Africa, including the Prieska Copper Zinc Mine and the Okiep Copper Project.
YTD Price Performance: -35.00%
Average Trading Volume: 332,707
Technical Sentiment Signal: Buy
Current Market Cap: A$89.06M
See more insights into ORN stock on TipRanks’ Stock Analysis page.