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Orion Minerals Limited ( (AU:ORN) ) just unveiled an announcement.
Orion Minerals Limited has secured a $0.5 million unsecured loan facility from Tarney Holdings Pty Ltd, a company associated with Orion’s Chairman, Denis Waddell. This loan will be used mainly for working capital, with an interest rate of 10% per annum and a repayment deadline of the earlier of a successful funding transaction or September 30, 2025. The loan facility is a strategic move to bolster Orion’s financial position and ensure operational continuity, reflecting strong internal support and confidence in the company’s future prospects.
More about Orion Minerals Limited
Orion Minerals Limited is an Australian company engaged in the mining industry, focusing primarily on the exploration and development of mineral resources. The company is listed on the Australian Securities Exchange (ASX) and Johannesburg Stock Exchange (JSE) under the code ORN.
Average Trading Volume: 536,366
Technical Sentiment Signal: Sell
Current Market Cap: A$75.35M
For a thorough assessment of ORN stock, go to TipRanks’ Stock Analysis page.