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Orion Minerals Limited ( (AU:ORN) ) just unveiled an announcement.
Orion Minerals Limited has announced a capital raising initiative through a share placement and loan conversions, aiming to raise approximately A$5.8 million. This funding will be utilized for the development of the Prieska Copper Zinc Mine, including dewatering and site works, as well as optimization studies at the Okiep Copper Project. The initiative also includes a Share Purchase Plan for existing shareholders, allowing them to increase their stake in the company. This strategic move is expected to enhance Orion’s operational capabilities and strengthen its market position in the mining sector.
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. Its primary projects include the Prieska Copper Zinc Mine and the Okiep Copper Project, with a significant emphasis on copper and zinc production.
Average Trading Volume: 875,184
Technical Sentiment Signal: Sell
Current Market Cap: A$82.21M
See more insights into ORN stock on TipRanks’ Stock Analysis page.