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Orion Minerals Limited ( (AU:ORN) ) has shared an announcement.
Orion Minerals Limited has successfully raised A$4.35 million through the issuance of 290,239,214 new shares at 1.5 cents each, as part of a larger placement plan to issue 574 million shares. This capital raise is aimed at sophisticated and professional investors, with a subsequent stage pending shareholder approval. The move is within the company’s 15% capacity for equity issuance without shareholder approval, aligning with ASX regulations, and is expected to bolster Orion’s financial position, potentially enhancing its operational capabilities and market standing.
More about Orion Minerals Limited
Orion Minerals Limited is an Australian company operating in the mining industry, focusing on the exploration and development of mineral resources. The company is listed on both the Australian Securities Exchange (ASX) and the Johannesburg Stock Exchange (JSE), indicating its market focus on both Australian and South African investors.
Average Trading Volume: 1,498,347
Technical Sentiment Signal: Buy
Current Market Cap: A$136.2M
See more data about ORN stock on TipRanks’ Stock Analysis page.