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ORION MINERALS LIMITED - Orion Appoints Endeavour Financial as the Financial Advisor for the Development of the Prieska Project

Release Date: 31/01/2019 09:30
Code(s): ORN     PDF:  
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Orion Appoints Endeavour Financial as the Financial Advisor for the Development of the Prieska Project

Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
(“Orion” or “the Company”)

ORION APPOINTS ENDEAVOUR FINANCIAL AS THE FINANCIAL ADVISOR FOR THE DEVELOPMENT OF
THE PRIESKA PROJECT

   Endeavour Financial to assist in the evaluation of funding options for Orion’s globally
   significant Prieska Zinc-Copper Project.
   Bankable Feasibility Study on track for completion in Q2 2019.

Orion’s Chairman, Denis Waddell, commented:
“We look forward to working with the Endeavour Financial team to evaluate and put in place
debt financing for the development of the Prieska Zinc-Copper Project. We will be considering
various funding sources and will work to have project financing in place to move forward with a
project development decision in Q3 2019. Our focus is on bringing the 2.4 mtpa Prieska Project
into production as quickly as possible, based broadly on the parameters outlined in the positive
Scoping Study released in December 2018. The BFS is well advanced and on track to be
completed in Q2 2019.”

Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to announce that it has
appointed Endeavour Financial, a leading financial advisor in the mining sector, to assist in the
evaluation of funding options for Orion’s globally significant Prieska Zinc-Copper Project (Prieska
Project), located in the Northern Cape, South Africa.

Orion recently announced that the Prieska Project total Mineral Resource, reported and classified
in accordance with the JORC Code (2012), now stands at 30.49Mt @ 3.7% Zn and 1.2% Cu,
including Indicated Mineral Resources of 19.13Mt @ 3.59% Zn and 1.18% Cu. The total Mineral
Resource follows the updated Deep Sulphide Resource of 28.73Mt @ 3.8% Zn and 1.2% Cu which
underpinned the Phase 1 Scoping Study announced in December 2018. The Bankable Feasibility
Study, which will incorporate the total Mineral Resource, is on track for completion in Q2 2019 (refer
ASX release 15 January 2019).

The Company plans to advance Prieska at the earliest opportunity in order to realise the project’s
significant potential. The Company believes that the value created will not only greatly benefit
shareholders, but also all stakeholders, including our South African equity partners, host community
and staff who are the Company's partners in this project. Orion’s inclusive operating philosophy,
with a strong commitment to corporate social responsibility, is the key to accessing and effectively
managing the development of the Prieska Project. Orion is committed to addressing the
challenge of sustainability - delivering value to its shareholders, while simultaneously providing
                                                                                                    
economic and social benefits to positively impact our partners and minimising our environmental
footprint.

The funding options analysis to be undertaken by Endeavour Financial will assist Orion to develop
an optimised funding strategy for the Prieska Project. The Scoping Study announced in December
2018, demonstrated an economically robust project underpinned by a large resource with
substantial long-term growth potential.

Endeavour Financial has extensive experience in assisting companies to structure project funding
solutions across diverse commodities, geographies and sources of financing and has a proven
track record in successfully financing projects in sub-Saharan Africa.

About Endeavour Financial
Endeavour Financial is a private independent merchant banking company focused on providing
expert and unbiased financial advisory services to the global natural resources sector. Endeavour
Financial has a history of achieving success for clients based on resource industry focus, innovative
transaction skills and the diverse professional backgrounds of its award-winning team. Offering
advice in project, corporate and debt capital markets; equity-linked financings; mergers and
acquisitions; and strategic business development over more than two decades, Endeavour
Financial has established itself as a leading financial advisor in the natural resources sector.
Specific to the mining sector, in the last ten years the firm has closed in excess of US$4 billion of
development financings for single-asset emerging producers. More information on Endeavour
Financial and its services can be found at www.endeavourfinancial.com

Denis Waddell
Chairman

31 January 2019

ENQUIRIES
 Investors                             Media                                                         JSE Sponsor
 Errol Smart – Managing                Nicholas Read                      Barnaby Hayward            Rick Irving
 Director & CEO
 Denis Waddell – Chairman              Read Corporate, Australia          Tavistock, UK              Merchantec Capital
 T: +61 (0) 3 8080 7170                T: +61 (0) 419 929 046             T: +44 (0) 787 955 1355    T: +27 (0) 11 325 6363
 E: info@orionminerals.com.au          E: nicholas@readcorporate.com.au   E: orion@tavistock.co.uk   E: rick@merchantec.co.za
Suite 617, 530 Little Collins Street
Melbourne, VIC, 3000

Disclaimer
                                                                                                            2
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 (where
applicable). 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:
o      disclaim any obligations or undertaking to release any updates or revisions to the information to reflect
       any change in expectations or assumptions;
o      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
o      disclaim all responsibility and liability for these forward-looking statements (including, without limitation,
       liability for negligence)




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