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Orion Minerals Limited ( (AU:ORN) ) just unveiled an announcement.
Orion Minerals Limited has announced the issuance of approximately 522 million new shares to sophisticated and professional investors, raising a total of A$5.8 million. This includes a placement of 289 million shares and conversion of outstanding loans into equity, with the shares priced at 1.1 cents each. The company has also fully repaid a convertible loan facility with Ratel Growth Pty Ltd through the issuance of shares. This strategic move aims to strengthen Orion’s financial position and support its ongoing operations without requiring shareholder approval, aligning with ASX Listing Rule 7.1.
More about Orion Minerals Limited
Orion Minerals Limited is a company incorporated in Australia, primarily involved in the mining industry. It focuses on the exploration and development of mineral resources, with a market presence in both the Australian Securities Exchange (ASX) and Johannesburg Stock Exchange (JSE).
Average Trading Volume: 1,046,028
Technical Sentiment Signal: Sell
Current Market Cap: A$75.35M
For a thorough assessment of ORN stock, go to TipRanks’ Stock Analysis page.