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Strongly Supported Capital Raising to Progress Prieska Zinc-Copper Project in South Africa
Orion Minerals NL
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
STRONGLY SUPPORTED CAPITAL RAISING TO PROGRESS PRIESKA ZINC-COPPER PROJECT IN SOUTH AFRICA
- Placement to sophisticated and professional investors at 2.4 cents per Share to raise $5.5 million.
- Commitments received from investors for $3.47 million being Tranche 1 of the Placement and for $2.03
million being Tranche 2 of the Placement (subject to shareholder approval).
- Shareholder approval to be sought for Orion’s Chairman, Mr Denis Waddell, to subscribe for Shares at
the same price as the Placement Shares.
- Proceeds will be used to o progress the resource drilling campaign at the Company’s Prieska Zinc-
Copper Project in South Africa, to continue exploration programs on the Company’s Northern Cape South
African tenements, and for working capital purposes.
Orion Minerals NL (ASX: ORN) (Orion or the Company) is pleased to advise it is undertaking a capital raising
of $5.5 million, made up of $3.47 million in Tranche 1 and an additional $2.03 million in Tranche 2.
The Placement to sophisticated and professional investors will be for up to 229.167 million ordinary fully paid
shares (Shares) at an issue price of 2.4 cents per Share to raise up to $5.5 million. It is proposed that the
capital raising will occur in two stages, being:
- Tranche 1 – 144.583 million Shares using the Company’s 15% placement capacity under ASX Listing
Rule 7.1 to raise $3.47 million; and
- Tranche 2 - up to 84.583 million Shares to raise $2.03 million (subject to shareholder approval, at a
general meeting planned to be held mid-December 2017),
(together the Placement).
The Company has received commitments from investors to subscribe for the Placement, with Tranche 2 being
subject to shareholder approval.
Proceeds from the Placement will be used principally to progress the intensive resource drilling campaign at
the Company’s Prieska Zinc-Copper Project, where significant drill results have been returned in recent months
(refer ASX releases 9 October 2017, 5 October 2017, 19 September 2017 and 6 September 2017). The current
program is the next step in the process to define a maiden Mineral Resource estimate as defined in the
Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code)
and will be fed into the bankable feasibility study (BFS) (refer ASX release 11 July 2017). The BFS will build
on both the substantial existing historical dataset relating to mining and processing activities as well as the
new information being generated by the onsite activities. Funds will also be used to continue exploration
programs, including a large airborne electromagnetic survey and regional geochemistry on the Company’s
Northern Cape South African tenements, and for working capital purposes.
General Meeting
The Company will seek the required shareholder approvals (to ratify Tranche 1 and for the issue of Tranche 2
of the Placement) at a General Meeting of shareholders planned to be held mid-December 2017. In addition,
approval will also be sought at the General Meeting for Orion’s Chairman, Mr Denis Waddell to subscribe for
Shares at the same price as the Placement Shares.
Denis Waddell
Chairman
30 October 2017
ENQUIRIES
Investors JSE Sponsor
Errol Smart – Managing Director & CEO Rick Irving
Denis Waddell – Chairman Merchantec Capital
T: +61 (0) 3 8080 7170 T: +27 (0) 11 325 6363
E: info@orionminerals.com.au E: rick@merchantec.co.za
Media
Michael Vaughan Emily Fenton
Fivemark Partners, Australia Tavistock, UK
T: +61 (0) 422 602 720 T: +44 (0) 207 920 3150
E: michael.vaughan@fivemark.com.au E: orion@tavistock.co.uk
Suite 617, 530 Little Collins Street
Melbourne, VIC, 3000
Disclaimer
This release may include forward-looking statements. Such forward-looking statements may include, among
other things, statements regarding targets, estimates and assumptions in respect of metal production and
prices, operating costs and results, capital expenditures, mineral reserves and mineral resources and
anticipated grades and recovery rates, and are or may be based on assumptions and estimates related to
future technical, economic, market, political, social and other conditions. These forward-looking statements
are based on management’s expectations and beliefs concerning future events. Forward-looking statements
inherently involve subjective judgement and analysis and are necessarily subject to risks, uncertainties and
other factors, many of which are outside the control of Orion. Actual results and developments may vary
materially from those expressed in this release. Given these uncertainties, readers are cautioned not to place
undue reliance on such forward-looking statements. Orion makes no undertaking to subsequently update or
revise the forward-looking statements made in this release to reflect events or circumstances after the date
of this release. All information in respect of Exploration Results and other technical information should be
read in conjunction with Competent Person Statements in this release. To the maximum extent permitted by
law, Orion and any of its related bodies corporate and affiliates and their officers, employees, agents,
associates and advisers:
- disclaim any obligations or undertaking to release any updates or revisions to the information to reflect
any change in expectations or assumptions;
- do not make any representation or warranty, express or implied, as to the accuracy, reliability or
completeness of the information in this release, or likelihood of fulfilment of any forward-looking statement
or any event or results expressed or implied in any forward-looking statement; and
- disclaim all responsibility and liability for these forward-looking statements (including, without limitation,
liability for negligence).
Date: 30/10/2017 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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