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Anglo American sefa Mining Fund extends term of Loan Facility advanced for the Prieska Copper-Zinc 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”)
Anglo American sefa Mining Fund extends term of Loan Facility advanced for the Prieska Copper-Zinc Project
Value-adding South African institutional investor, Anglo American sefa Mining Fund extends the term of
the ZAR14.25M Loan Facility, confirming its continued support of Orion.
Loan Facility repayment date extended to 30 April 2021.
Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) is pleased to announce that it has reached
agreement with value-adding South African institutional investor, Anglo American sefa Mining Fund (AASMF) to
extend the term of the ZAR14.25M Loan Facility from 31 July 2020 to 30 April 2021.
On 2 November 2015, Prieska Copper Zinc Mine (Pty) Ltd (Prieska) (formally Repli Trading No 27 (Pty) Ltd), (a 70%
owned subsidiary of Orion) and AASMF entered into a ZAR14.25M (~$1.2M) loan agreement for the further
exploration and development of the Prieska Copper-Zinc Project (Loan Facility). Under the terms of the Loan
Facility, on 1 August 2017, AASMF advanced ZAR14.25M to Prieska. The key terms of the Loan Facility are:
• Loan amount: ZAR14.25M (~$1.2M);
• Interest: Prime lending rate in South Africa;
• Repayment date: 30 April 2021 (previously 31 July 2020); and
• Security: 29.17% of the shares held in Prieska by Agama Exploration and Mining (Pty) Ltd (a wholly owned
subsidiary of Orion), have been pledged as security to AASMF for the performance of Prieska's obligations
in terms of the Loan Facility.
As at 30 June 2020, the balance of the Loan Facility was ZAR19.0M (~$1.6M) (including capitalised interest).
About Sefa Mining Fund
Launched in 2003, the AASMF is a joint initiative between Anglo American Zimele (Pty) Ltd and Small Enterprise
Finance Agency (sefa) formerly known as Khula Enterprise Finance Limited, a government-owned entity that
promotes small and medium enterprise development.
As a value-adding relationship investor, the AASMF helps such mining enterprises that applied before March 2017
with equity and loan finance at prime interest rates p.a., complemented by technical support during the high-risk
exploration and pre-feasibility stages of projects – which can get extremely complicated. Basically, this Fund brings
its beneficiaries’ businesses to commercially bankable positions at which point such beneficiaries can approach
lenders and raise finance to get their mining operations commissioned.
For and on behalf of the Board.
Errol Smart
Managing Director and CEO
29 July 2020
ENQUIRIES
Investors Media JSE Sponsor
Errol Smart – Managing Director & CEO Nicholas Read Rick Irving
Denis Waddell – Chairman Read Corporate, Australia Merchantec Capital
T: +61 (0) 3 8080 7170 T: +61 (0) 419 929 046 T: +27 (0) 11 325 6363
E: info@orionminerals.com.au E: nicholas@readcorporate.com.au E: rick@merchantec.co.za
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 (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:
• 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: 29-07-2020 08:47:00
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