New Risk • Jun 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.7% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m (AU$345k revenue, or US$243k). Announcement • May 22
Orion Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 15.356675 million. Orion Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 15.356675 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 698,030,694
Price\Range: AUD 0.022
Discount Per Security: AUD 0.00132
Transaction Features: Subsequent Direct Listing Announcement • Mar 19
Orion Minerals Limited (ASX:ORN) completed the acquisition of Okiep Copper Project from Southern African Tantalum Mining (Pty) Ltd, Nababeep Copper Company (Pty) Ltd, and Bulletrap Copper Company (Pty) Ltd. Orion Minerals Limited (ASX:ORN) agreed to acquire Okiep Copper Project from Southern African Tantalum Mining (Pty) Ltd, Nababeep Copper Company (Pty) Ltd, and Bulletrap Copper Company (Pty) Ltd for ZAR 76.5 million on August 2, 2021. In a related transaction, Orion Minerals Limited acquired assets of O’Okiep Copper Company on August 2, 2021. The aggregate purchase consideration payable by Orion Minerals to the Target Entities and their shareholders is ZAR 76.5 million, to be settled as to ZAR 18.4 million in cash and ZAR 58.1 million in Orion fully paid ordinary shares. The issue price of the Orion consideration shares will be equal to the 30- day volume weighted average price of the Orion consideration shares traded on the ASX and the JSE in the period ending on the date that is the earlier of (i) the closing date of the applicable part of Okiep transaction; and (ii) 30 days after the date on which the last of specified mineral right is granted in respect of the Target Entity that is the subject of that transaction. The Purchase Price will be settled as follows: (i) Stage 1 Cash: Payable within 5 business days following the date the option was exercised (30 July 2021), (ii) Stage 1 Shares: Orion has elected to settle the Purchase Price in Shares and under the terms of the agreement, will issue 4.1 million Shares, within 30 days following the Data Option Exercise Date, (iii) Stage 2 Cash: Payable on or before 12 February 2022, and (iv) Stage 2 Shares: Where Orion elects to settle the Purchase Price in Shares, the Shares will be issued on or before February 12, 2022 on the same terms as those Shares issued by Orion in Stage 1. The Purchase Price payable in respect of the Premises shall be adjusted to account for certain expenses, rates, taxes and levies incurred up to the date of registration of the transfer. In addition to the Purchase Consideration, the selling shareholders will be entitled to a conditional deferred payment. Conditional deferred payment will be calculated on the basis of the number of tonnes of Mineral Resources published by Orion in relation the Mineral Projects in compliance with the JORC Code, estimated with reference to the relevant cut-off grade, less the tonnes of the baseline JORC Code Mineral Resource.
As of May 6, 2024, All the conditions are approved following its ASX/JSE announcement on 17 April 2024, Orion is pleased to advise that: (a) The Industrial Development Corporation of South Africa Ltd (IDC), which is a strategic funding partner in the OCP, has now obtained its internal approvals and counter-signed the addenda to the agreements pursuant to which Orion will acquire the controlling interest in the OCP; and (b) All the supplementary conditions to implement the first phase of the Okiep transaction have been fulfilled (including receipt of the relevant approvals from the Foreign Surveillance Department of the South African Reserve Bank and the South African Takeover Regulation Panel) and the Okiep transaction agreements (as amended) have accordingly become unconditional. As of May 8, 2024, y 2024 regarding completing the first phase of the acquisition of a controlling interest in the Okiep Copper Project, with payment of consideration totaling ZAR46 million (~A$3.8 million), being ZAR11 million payable in cash and ZAR35 million settled by way of Orion issuing fully paid ordinary shares (Shares).
Orion Minerals Limited (ASX:ORN) completed the acquisition of Okiep Copper Project from Southern African Tantalum Mining (Pty) Ltd, Nababeep Copper Company (Pty) Ltd, and Bulletrap Copper Company (Pty) Ltd on March 18, 2026. The remaining consideration payable by Orion was settled by Orion by paying ZAR 2.3 million payable in cash and ZAR 12.4 million settled by way of Orion issuing 71,911,941 Shares. 
