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. New Risk • Mar 08
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$16m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$16m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings are forecast to decline by an average of 15% per year for the foreseeable future. Revenue is less than US$1m (AU$345k revenue, or US$242k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$16m net loss in 2 years). Shareholders have been diluted in the past year (19% increase in shares outstanding). Announcement • Dec 22
Orion Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 8.609588 million. Orion Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 8.609588 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 133,333,333
Price\Range: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 66,666,666
Price\Range: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 156,905,881
Price\Range: AUD 0.015
Discount Per Security: AUD 0.0009
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 133,333,333
Price\Range: AUD 0.015
Discount Per Security: AUD 0.0009
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 83,733,331
Price\Range: AUD 0.015
Discount Per Security: AUD 0.0009
Transaction Features: Subsequent Direct Listing New Risk • Oct 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Revenue is less than US$1m (AU$385k revenue, or US$251k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$15m net loss in 2 years). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (R1.54b market cap, or US$89.3m). Announcement • Oct 08
Orion Minerals Limited, Annual General Meeting, Nov 27, 2025 Orion Minerals Limited, Annual General Meeting, Nov 27, 2025. Announcement • Oct 01
Orion Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million. Orion Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 266,666,666
Price\Range: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 66,666,666
Price\Range: AUD 0.015
Transaction Features: Subsequent Direct Listing New Risk • Sep 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings are forecast to decline by an average of 15% per year for the foreseeable future. Revenue is less than US$1m (AU$269k revenue, or US$175k). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (AU$13m net loss in 2 years). Market cap is less than US$100m (R1.54b market cap, or US$88.1m). New Risk • Jul 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South African stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Revenue is less than US$1m (AU$269k revenue, or US$177k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$14m net loss in 2 years). Market cap is less than US$100m (R889.2m market cap, or US$49.6m). New Risk • May 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South African stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Revenue is less than US$1m (AU$269k revenue, or US$173k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$14m net loss in 2 years). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (R894.7m market cap, or US$48.6m). Announcement • Apr 25
Orion Minerals Limited announced that it expects to receive AUD 2 million in funding from Ratel Growth Pty Ltd Orion Minerals Limited announced that Ratel Growth Pty Ltd (Ratel), has issued an unsecured 12% loan facility for the amount of AUD 2,000,000 on April 24, 2025. Under the terms of the Loan Facility, the Loan Amount, interest and any amount capitalized under the Loan Facility (Outstanding Amount) will be automatically set off against the amount to be paid by Ratel for the issue and allotment of ordinary shares in Orion (Shares) to Ratel under any capital raising undertaken by Orion on or before the repayment date of 31 August 2025 (Repayment Date) (subject to any Orion shareholder approval, if required).if Orion does not undertake a capital raising by the Repayment Date and Ratel does not elect to receive Shares in repayment of the Outstanding Amount by the Repayment Date, or if shareholder approval is required for any capital raising or for Shares to be issued in repayment of the Outstanding Amount under a conversion notice issued by Ratel, and such approval has not been obtained by the later of the Repayment Date and specified end dates by which Orion is required to obtain necessary shareholder approvals, the Outstanding Amount is to be repaid in cash within 10 business days. New Risk • Mar 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$33m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$33m free cash flow). Share price has been highly volatile over the past 3 months (10% average weekly change). Revenue is less than US$1m (AU$269k revenue, or US$169k). Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (R1.26b market cap, or US$68.9m). Announcement • Feb 11
Orion Minerals Limited Announces Appointment of Kevin Moxham as Chief Operating Officer Orion Minerals Limited announced the appointment of highly experienced international mining executive Kevin Moxham as Chief Operating Officer (COO). The appointment, which is effective from 10 February 2025. Mr. Moxham is a Registered Professional Engineer with 40 years experience in mining, engineering and project management and a strong track record leading the successful modernisation and mechanisation of mines in South Africa and developing several large-scale greenfield projects (both open pit and underground) in challenging political, technical and socio-economic environments across Africa. Kevin has extensive experience in the management of base metal mining operations, particularly in the development, construction and operational ramp-up of new mines, implementing modern best practice and driving operational excellence, whilst maintaining an exceptional health and safety record. Kevin has a keen interest in implementing appropriate technology, developing and implementing processes and systems, and driving a culture of continuous improvement at the operations under his responsibility. During his career, Kevin has played important roles in the delivery of several large mines across Africa, including Executive General Manager at the Bisha Mining Share Company, a VMS mine in Eritrea and as Executive General Manager at the Khoemacau Copper Mine in neighbouring Botswana, both of which were completed safely, on time and within budget. These mines employed several of the mining and metallurgical practices that are being planned for Orion's Prieska and Okiep Mines. Announcement • Jan 30
Orion Minerals Limited Announces Progress on Feasibility Studies Orion Minerals Limited announced the work on the NOM Definitive Feasibility Study (DFS) for the Flat Mines Project (Project), the first mine that Orion intends to develop at the Okiep Copper Project (OCP), is nearing completion and external review by independent technical experts Practara Metals and Mining Advisory (Practara) has commenced. Once the DFS report is completed to the satisfaction of Practara the DFS will be considered and approved by the partners of the Project. The approved outcomes of the DFS are expected to be released in February 2025. The DFS for Prieska Copper Zinc Mine (PCZM), which is also well advanced, will follow a similar approval process. The study is also currently being independently reviewed by Practara and will then move to review and approval from the partners including the IDC, Prieska Resources (Pty) Ltd. and Triple Flag Precious Metals Corp. The outcomes of the DFS are expected to be released before the end of the March 2025 quarter. New Risk • Nov 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South African stocks, typically moving 9.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.4% average weekly change). Revenue is less than US$1m (AU$381k revenue, or US$248k). Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (R1.29b market cap, or US$71.1m). Announcement • Oct 23
Orion Minerals Limited Reports Final Assay Results from the First Drill Hole Completed to Test Down-Dip Continuity in Block of Structurally Uplifted High-Grade Copper Mineralization at Flat Mine South Orion Minerals Limited reported final assay results from the first drill hole completed to test down-dip continuity in a block of structurally uplifted high-grade copper mineralization at Flat Mine South (FMS), part of its Okiep Copper Project (OCP) in the Northern Cape, South Africa. The latest results add further momentum to Orion's development strategy for the OCP, building on the outstanding outcomes of the recently completed confirmation drilling program, which confirmed the geology and endowment of the Flat Mines area. The OCP ground holdings of 703km² cover most of the Okiep copper mining district where a total of 105Mt is reported to have been mined over the past 100 years. Of the 105Mt mined, some 77Mt was mined on OCP prospecting and mining rights. The Flat Mines area and the current drilling program fall entirely within executed Mining Right NC10150MR. The Mining Right is surrounded by the newly granted prospecting rights, NC12755PR and NC12848PR, which host several exciting historically drilled prospects and historical mines that offer the potential for additional Mineral Resources through future drilling. Results reported in this announcement have confirmed reverse faulting and vertical repetition of previously intersected high-grade copper mineralisation and suggest potential for further down-dip extensions below the mineralisation intercepted in drilling by Newmont and Goldfields of South Africa (GFSA) in the 1980s and 1990s and Orion's confirmation drilling program in 2024. The historical drilling information underpinned Orion's updated Mineral Resource for the Flat Mines deposits of 9.3Mt at 1.3% Cu. This included 3.4Mt at 1.4% Cu at FMS inclusive of an Indicated Mineral Resource of 2.6Mt at 1.35% Cu. Following the successful completion of the Flat Mines confirmation drilling program in August 2024, two drill rigs were retained on site at FMS to test for extensions of high-grade mineralisation beyond the margins of the current Mineral Resource. At FMS, historical GFSA holes and Orion holes OFMSD077 and suggest that copper mineralisation may remain open down-dip for up to 200m within an untested area encompassing a strike length of 300m. Drill holes OFMSD080 and OFMSD081 have been completed to date with holes OFMSD082 and OFMSD083 currently in progress. Importantly, the upper area has now delivered multiple drill intersections representing vertical repetitions of the wide and high-grade mineralisation. Drill hole OFMSD080 intersected 26.12m at 3.02% Cu from 535.00m and 24.95m at 4.14% Cu from 567.00m within a broader zone of 59.00m at 3.14% Cu from 533.00m. This intersection is located approximately 40m down-dip from OFMSD077, which intersected 43.00m at 3.41% Cu from 527.00m. Drill hole OFMSD080 was targeted to better understand a possible reverse fault interpreted between Orion drill hole OFMSD077 and historical Goldfields drill hole FMS053D1. The mineralised intercept in OFMSD077 is 10 metres away from drill hole FMS053D1 but sits 40m up-dip of the projected down-dip extension. The intercept in OFMS080 likewise sits 30m above the projected intersection. This can best be explained by reverse faulting, which is supported by evidence of shearing and structural displacement observed in the core of OFMSD077 and OFMSD080, with references to strong foliations, shearing and possible fault zones in geological logs for GFSA holes FMS055, FMS057 and FMS053D1. The repeated wide high-grade zones are located approximately 500m below surface (Figure 4) and could be accessed from the foot of the proposed mine development being assessed as part of the ongoing Bankable Feasibility Study to extract the current Mineral Resource which extends from 150m to 750m vertical depth. The interpreted presence of reverse faulting represents significant potential for Mineral Resource growth in the targeted vertical interval. Drill hole OFMSD082 is currently in progress to test further down-dip continuity of the high-grade copper mineralisation and to confirm the current structural interpretation. Drill hole OFMSD081 was drilled to test down-dip extensions to the mineralisation intersected in OFMSD079. Assay results from this hole are awaited and are anticipated to be reported mid-November 2024. Internal waste rock widths up to 3m are included within the reported intersection widths, providing opportunities for upgrading material using modern XRF ore sorting techniques to reject internal waste before milling. This provides the potential for optimised metal extraction with larger stopes operated at lower mining cost, while limiting concentrator capital and operating costs. Announcement • Oct 01
Orion Minerals Limited, Annual General Meeting, Nov 20, 2024 Orion Minerals Limited, Annual General Meeting, Nov 20, 2024. Announcement • Sep 03
Orion Minerals Limited Reports Final Assay Results from the Confirmation Diamond Drilling Program in the Flat Mines Area at Its Okiep Copper Project (OCP) in the Northern Cape, South Africa Orion Minerals Limited reported final assay results from the confirmation diamond drilling program in the Flat Mines Area at its Okiep Copper Project (OCP) in the Northern Cape, South Africa. The latest results add further momentum to Orion's development strategy for the OCP, building on the initial results reported on 22 April 2024, 24 June 2024 and 9 July 2024 including intersections of 49.35m @ 5.05% Cu at Flat Mine East (FME) and 20.50m at 4.99% Cu at Flat Mine South (FMS) among several other high-grade intersections confirming the geology and endowment of the Flat Mines Area. The OCP ground holdings of 703km² cover most of the copper mining district where a total of 105Mt is reported to have been mined over the past 100 years. Of the 105Mt mined, some 77Mt was mined on OCP prospecting and mining rights. The Flat Mines Area and the current drilling program fall entirely within executed Mining Right NC10150MR. The Mining Right is surrounded by the newly granted prospecting rights, NC12755PR and NC12848PR, which host several historically drilled prospects and historical mines that offer the potential for additional Mineral Resources through future drilling. Results received and reported in this announcement include the last of the 11 confirmation holes at Flat Mine North (FMN), FME and FMS. The assay results have confirmed historical information from drilling by Newmont and Goldfields of South Africa (GFSA) in the 1980's and 1990's, which underpinned Orion's updated Mineral Resource for the Flat Mines deposits of 9.3Mt at 1.3% Cu 1. Flat Mines Confirmatory Drilling Program A diamond drilling program commenced in the Flat Mines Area of the OCP in February 2024. A total of 11 diamond core drill holes were drilled at FME, FMS and FMN comprising a total of approximately 5,800m. This total includes a non-directional deflection for each hole drilled to obtain samples for metallurgical test work. The program was designed to confirm historical drilling information and resultant interpretations, provide geotechnical information and deliver additional material for confirmatory metallurgical test work for the FMN, FME and FMS blocks included in the initial BFS mine schedule. The program was specifically designed to optimally cover the areas that contribute most significantly to the overall estimated Indicated Mineral Resource. Assay results from OFMND242 and OFMND243 completed at FMN and OFMSD078 and OFMSD079 at FMS are summarised in, with complete results from the intersections. Drill hole OFMND242 intersected 14.00m at 2.70% Cu from 213.00m. Historical hole FMN215 intersected 10.20m at 2.31% Cu from 226.60m and 11.70m at 1.89% Cu from 241.80m, approximately 11m away from the OFMND242 intersection. Historical hole FMN217 intersected 22.10m at 1.91% Cu from 234.40m, approximately 14m away from the OFMND242 intersection. Drill hole OFMND243 intersected 36.30m at 1.11% Cu from 234.00m. Historical hole FMN207 intersected 24.40m at 1.45% Cu from 255.30m, approximately 25m away from the OFMND243 intersection. Drill hole OFMSD079 intersected 7.00m at 2.32% Cu from 501.00m and 14.80m at 2.58% Cu from 571.00m. Historical hole FMS047 intersected 17.00m at 1.60% Cu from 514.20m and 16.39m at 2.19% Cu from 568.77m, approximately 16m away from the OFMSD079 intersection. Internal waste rock widths up to 3m are included within the reported intersection widths, providing opportunities for upgrading of material through modern XRF ore sorting techniques to reject internal waste before milling. This provides the potential for optimised metal extraction with larger stopes operated at lower mining cost, while limiting concentrator capital and operating costs. With the confirmation drilling program now complete, geological and mineralisation envelope interpretations will be reviewed and adjusted where necessary, followed by an update of the Mineral Resource estimate including the new information. New geotechnical information will be used for input to mine design. Assay results for the 11 Orion confirmation drill holes have been independently reviewed by Z Star Mineral Resource Consultants (Z) and, on analysis, Z concluded that the addition of the Orion confirmation drill holes at FME, FMN and FMS would not result in a material change to the Mineral Resource estimate. Z also concluded that the Orion drill holes further support the inclusion of the historical Newmont and GFSA drill hole data in the Mineral Resource estimates for FME, FMN and FMS. Almost all other drilling at the various prospects within Orion's OCP Project was carried out by Newmont and GFSA in a similar time period to the drilling at FME, FMN and FMS. Planned metallurgical test work includes XRF sorting, comminution, flotation optimisation and tailings characterisation. Detailed geotechnical assessment is also undertaken on all intersections. Flat Mines Exploration and Resource Upgrade Drilling Program Three of the five drilling rigs have been retained on site for a program aimed at upgrading the classification of Mineral Resource blocks that are not yet included in the mine plan and to test for extensions of high-grade mineralisation beyond the margins of the current Mineral Resource. At FMS, historical GFSA holes and Orion holes OFMSD077 and OFMSD079 indicate that high-grade mineralisation remains open down-dip for up to 200m within an untested area encompassing a strike length of 300m (Figures 2 and 3). Historical intersections indicating a thick mineralised zone that remains untested down-dip include the following: · 24.45m (16m TW) from 588.98m at 3.06% Cu within a broader zone of 38.98m (25m TW) at 2.16% Cu from 574.45m in FMS053D1; 15.74m (8m TW) from 580.62m at 4.86% Cu within a broader zone of 18.74m (10m TW) at 4.29% Cu from 578.55m in FMS048; and 10.24m (5m TW) from 568.77m at 2.81% Cu within a broader zone of 70.96m (34m TW) at 1.21% Cu from 514.20m in FMS047. Holes OFMSD080 and OFMSD081 are currently in progress targeting this area, with further holes planned pending interpretation of assay results. Hole OFMSD080 has already intersected broad zones of well mineralised intrusive at the anticipated depth of 532m to 592m, confirming down-dip extension of a wide, well mineralised mafic body. Announcement • Jul 19
Orion Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 7.69265 million. Orion Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 7.69265 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 479,509,997
Price\Range: AUD 0.015
Discount Per Security: AUD 0.00075
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 33,333,333
Price\Range: AUD 0.015
Discount Per Security: AUD 0.00075
Transaction Features: Subsequent Direct Listing Announcement • Jul 09
Orion Minerals Limited Reports Further Outstanding Assay Results from the Confirmatory Drilling Program in the Flat Mines Area At Its Okiep Copper Project in the Northern Cape, South Africa Orion Minerals Limited report further outstanding assay results from the confirmation diamond drilling program in the Flat Mines area at its Okiep Copper Project (OCP) in the Northern Cape, South Africa. The latest results add further momentum to Orion's development strategy for the OCP, building on the initial results reported on 22 April 2024 and 24 June 2024 including an intersection of 49.35m @ 5.05% Cu (refer ASX/JSE release 24 June 2024) at Flat Mine East (FME) among several other high-grade intersections confirming the geology and endowment of the Flat Mines Area. The OCP ground holdings of 641km² cover most of the area where a total of 105Mt is reported to have been mined in the district over the past 100 years. The Flat Mines area and the current drilling program fall entirely within an executed Mining Right. Results received and reported in this announcement include the first two of the four planned holes at Flat Mine South (FMS). The assay results have confirmed historical information from drilling by Newmont and Goldfields of South Africa (Goldfields) in the 1980's and 1990's, used in the Mineral Resource update, where 9.4Mt at 1.3% Cu was reported for the Flat Mines including 3.4Mt at 1.4% Cu at FMS. Flat Mines Confirmatory Drilling Program: A diamond drilling program commenced in the Flat Mines area of the OCP in February 2024. A total of 11 diamond core drill holes were planned at FME, FMS and Flat Mine North (FMN) comprising a total of approximately 5,800m. This total includes a non-directional deflection for each hole. The program was designed to confirm historical drilling information and resultant interpretations, provide geotechnical information and deliver additional material for confirmatory metallurgical test work for the FMN, FME and FMS blocks included in the initial BFS mine schedule. The planned program (, table 1) is specifically designed to optimally cover the areas that contribute most significantly to the overall estimated Indicated Mineral Resource. All holes include a deflection (or wedge) through the mineralisation to provide the additional material for confirmatory metallurgical test work. Drill hole OFMSD076 returned 6.00m at 0.90% Cu from 454.00m. This is all within a broad zone of promoted copper of 32.32m at 0.63% Cu from 427.68m. Historical hole FMS012, located approximately 20m away from OFMSD076, intersected 34.80m at 0.74% from 447.90m. Historical hole FMS046, located approximately 20m away from OFMSD076, intersected 31.82m at 1.14% from 377.18m. Drill hole OFMSD077 returned an outstanding intercept of 20.50m at 4.99% Cu from 549.50m within 43.00m at 3.41% Cu from 527.00m. This is all within a broad zone of promoted copper, but inclusive of wider zones of internal waste and lower grade, of 62.00m at 2.51% Cu from 508.00m. Historical hole FMS053D1, located approximately 10m away from ODFMSD077, intersected 38.98m at 2.16% Cu from 574.45m. Significant widths of waste granitic material are included within the reported intersection widths, providing opportunities for upgrading of material through modern XRF ore sorting techniques to reject internal waste before milling. This provides the potential for optimised metal extraction with larger stopes operated at lower mining cost, while limiting concentrator capital and operating costs. On completion of the drilling program, the geological and mineralisation envelope interpretations will be reviewed and adjusted where necessary, followed by an update of the Mineral Resource Estimate including the new information. New geotechnical information will be used for input to mine design. Planned confirmatory metallurgical test work includes XRF sorting, comminution, flotation optimisation and tailings characterisation. Detailed geotechnical assessment is also undertaken on all intersections. Flat Mines Exploration and Resource Upgrade Drilling Program: Three of the five drilling rigs have been retained on site to test for an increase in classification of JORC Resource blocks that are not yet included in the mine plan and to test for extensions of high-grade mineralisation beyond the margins of the current JORC Resource blocks. At FMS, historical Goldfields holes and Orion hole OFMSD077 indicate that high-grade mineralisation remains open down-dip for up to 200m within an untested area encompassing a strike length of 300m. Historical intersections indicating mineralisation with true widths (TW) remaining open down-dip include the following: · 38.98m (25m TW) at 2.16% Cu including 24.45m (16m TW) at 3.06% Cu in FMS053D1; · 18.74m (10m TW) at 4.29% Cu including 15.74m (8m TW) at 4.86% Cu in FMS048; and · 70.96m (34m TW) at 1.21% Cu including 10.24m (5m TW) at 2.81% Cu in FMS047. Hole OFMSD080 is currently in progress targeting this area, with further holes planned pending interpretation and assay results. Confirmatory drilling is also underway at Flat Mine Nababeep (FMNb), where an Inferred Mineral Resource of 1Mt at 1.4% Cu was previously reported (refer ASX/JSE release 29 March 2021). Original drilling over the main zone of mineralisation was carried out by the Cape Copper Company in the 1940's with 141Kt at 2.72% Cu reported as being subsequently mined in the 1950's. Six holes totalling approximately 480m are initially planned to test and confirm the near-surface mineralisation at FMNb. Highly mineralised intrusive, similar to that intersected and reporting high grades at FME and FMS, has already been intersected from 6m to 52m in the first drill hole completed at FMNb. Outcropping exposure and drill intersections indicate that FMNb is likely to have a high internal waste content. This style of mineralisation is most suitable for bulk extraction with the application of ore sorting to remove the granitic waste, before milling the higher grade mafic intrusive rock fraction. Announcement • Jul 01
Orion Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million. Orion Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 333,333,333
Price\Range: AUD 0.015 Announcement • Apr 23
Orion Minerals Limited Reports Results from its Confirmation Diamond Drilling Program in the Flat Mines Area at the Okiep Copper Project in the Northern Cape, South Africa Orion Minerals Limited reported results from its confirmation diamond drilling program in the Flat Mines area at the Okiep Copper Project (OCP) in the Northern Cape, South Africa. The OCP ground holdings of 641km² cover the majority of the area where a total of 105Mt is reported to have been mined in the district over the past 100 years. The Flat Mines area and the current drilling program fall entirely within the executed Mining Right. Results received to date from the first two completed holes have confirmed historical information from drilling by Goldfields of South Africa (GFSA) in the 1990's, used in the Mineral Resource update where 9.4Mt at 1.3% Cu was reported for the Flat Mines area including 4.4Mt at 1.3% Cu at Flat Mine East (FME). Hole OFMED153 intersected 49.00m at 4.89% Cu, including 10.23m at 12.47% Cu. This intersection is located approximately 13m west of a historical intersection in FME035, drilled by GFSA in 1995, which returned an intercept of 59.10m at 3.55% Cu including 10.12m at 9.83%. Flat Mines Drilling Program A diamond drilling program commenced in the Flat Mines area of the OCP in February 2024. A total of eleven diamond core drill holes have been planned at FME, Flat Mine South (FMS) and Flat Mine North (FMN) comprising a total of 5,800m. The program has been designed to confirm historical drilling information and resultant interpretations, provide geotechnical information, and provide additional material for confirmatory metallurgical test work. The planned program comprises five holes at FME, four holes at FMS and two holes at FMN. The holes have been specifically designed to best cover the areas that contribute most significantly to the overall estimated Indicated Mineral Resource. Two holes have been completed at FME, with the remaining three holes currently in progress. The first two holes are currently in progress at FMS. All holes include a deflection (or wedge) through the mineralisation to provide the additional material for confirmatory metallurgical test work. A total of 149 split core samples were submitted to ALS for analysis by aqua regia ICP-AES method (ALS codes ME- ICP41a and MEOG-46). Drill hole OFMED151 returned 25.22m at 0.97% Cu from 260.00m, including 10.22m at 1.35% Cu from 275.00m. This is all within a broad zone of elevated copper of 40.22m at 0.80% Cu from 245.00m. Drill hole OFMED153 intersected 49.00m at 4.89% Cu from 231.00m to 280.00m, including 10.23m at 12.47% Cu. One highly mineralised sample of 0.35m length from 280.00m at the bottom of the intersection is pending reporting of assay results. The OFMED153 intersection compares well to the intersection in historical hole FME035 approximately 13m to the east where 59.10m at 3.55% Cu was reported including 10.12m at 9.83%. The OFMED153 core shows the presence of significant stockwork vein style to massive bornite, and chalcopyrite developed over 11m. Significant widths of waste granitic material are included within the 49.00m intersection in OFMED153, providing opportunities for upgrading of material through modern XRF ore sorting techniques to reject internal waste before milling. On completion of the drilling program, the geological and mineralisation envelope interpretations will be reviewed and adjusted where necessary, followed by an update of the Mineral Resource estimate including the new information. New geotechnical information will be used for input for mine design. Planned confirmatory metallurgical test work includes comminution, flotation optimisation, locked cycle tests, tailings characterisation and XRF sorting. New Risk • Apr 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South African stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$18m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 6.5% per year over the past 5 years. Revenue is less than US$1m (AU$233k revenue, or US$150k). Minor Risks Shareholders have been diluted in the past year (6.9% increase in shares outstanding). Market cap is less than US$100m (R1.30b market cap, or US$67.9m). Announcement • Feb 15
Orion Minerals Limited Announces Changes in Board Composition Orion Minerals Limited is progressing possible funding and transaction opportunities with multiple parties including Clover Alloys, in respect of the Company's various projects. As ongoing discussions with Clover Alloys could put Mr. Philip Kotze in a conflicted position, the Orion Board, including Mr. Kotze, have agreed that it would be preferable if Mr. Kotze stepped down from the Orion Board. The Board has therefore on February 14, 2024, accepted Mr. Kotze's resignation as a director of Orion with immediate effect. Announcement • Dec 13
Orion Minerals Ltd. Appoints Anthony Lennox and Patience Mpofu as Non-Executive Directors Orion Minerals Ltd. advised that Mr. Anthony Lennox and Ms. Patience Mpofu have been appointed as a non-executive directors of Orion. Tony has forty years of resource sector experience in operations, project development and corporate management and contains thirty-five years of leading people and twenty years of board experience. Tony is an experienced mining engineer with extensive underground and open cut experience in both coal and base metals. Importantly his career includes Managing Director & CEO of Palabora Mining Company Ltd. from 2010 - 2013, which was owned by Rio Tinto Copper, South Africa. Palabora is one of South Africa's oldest and most revered large mining operations having been in operation since 1956. Palabora was renowned as a highly efficient, large scale underground mechanised mining operation under his stewardship. With over 10 years in Africa at Managing Director and Chairman levels he brings skills in governance, strategy development and execution in complex and culturally diverse arenas. This, when added to his technical and leadership skills, has resulted in commercial and sustainable business solutions under his watch. Tony's career with Rio Tinto, BHP, and Shell Australia, included leading world class start-ups, global corporate safety, health and environment functions, project financial evaluation, Board governance input, risk management, stakeholder management, and turnaround businesses, which brings accomplished skills to the Orion Board. Patience is an award-winning mining executive with +15 years of experience of cross-functional resources industry experience. As a previous Vice President of a leading ASX listed mining company, Patience led multidisciplinary teams to develop integrated sustainability strategies that drove business results, reduced risk, and improved the company's reputation. Patience has strong ESG leadership experience across a broad range of roles including devising global commercial strategies to create value. As a metallurgist by training, her technical proficiency underpins her comprehensive understanding of the mining sector. Currently, as CEO and Principal Consultant of Insight Mining Experts (IME), Dr. Mpofu offers unparalleled insights into global mining trends, risks, and ESG practices, especially in the context of energy transition. Patience's career with South 32, Lonmin PLC, and Anglo-American, included roles as VP Corporate Affairs, Commercial Manager, Senior Manager Business Development, Senior Strategy Manager, Planning analyst and Lead Metallurgist brings extensive experience to the Orion Board across multiple disciplines. Board Change • Oct 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Godfrey Gomwe was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 11
Orion Minerals Limited Announces Resignation of Tom Borman as Director Orion Minerals Limited announced that the Board composition review has also taken into consideration Tom Borman's wish to free more time to focus on his other commitments and business interests. As Tom was due for re-election at the upcoming Annual General Meeting, Tom has decided not to stand for re-election and will step down as a director with effect from 10 October 2023. The Orion Board members are very thankful to Tom for his contribution both corporately and financially to Orion, over the past four and a half years. Announcement • Oct 09
Orion Minerals Limited, Annual General Meeting, Nov 28, 2023 Orion Minerals Limited, Annual General Meeting, Nov 28, 2023. Agenda: To consider the re-election and appointment of directors. New Risk • Sep 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$14m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$14m free cash flow). Earnings have declined by 7.2% per year over the past 5 years. Revenue is less than US$1m (AU$75k revenue, or US$48k). Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (R1.32b market cap, or US$69.7m). New Risk • Sep 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 5.3% per year over the past 5 years. Revenue is less than US$1m (AU$50k revenue, or US$32k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (7.3% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (R1.34b market cap, or US$71.4m). New Risk • Sep 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 5.3% per year over the past 5 years. Revenue is less than US$1m (AU$50k revenue, or US$32k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (8.6% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (R1.39b market cap, or US$72.5m). Announcement • Sep 05
Orion's New Okiep Mining Company (Pty) Ltd and Safta for Suite of Minerals On August 2, 2021, Orion's New Okiep Mining Company (Pty) Ltd. (NOMC) (previously Orion Exploration No. 6 (Pty) Ltd.)(OE6) and SAFTA for a suite of minerals giving Orion the exclusive right to prospect on those areas for copper ore, tungsten ore, gold ore and silver ore, among other commodities. These prospecting rights each carry the inherent exclusive right to apply for a mining right. In terms of the Transaction Agreement, the SAFTA right will be ceded to NOMC subject to MPRDA Section 11 approval being received from the DMRE. Copper oxide staining of outcropping diorite was first discovered at Nigramoep in the late Nineteenth Century. termittent drilling campaigns from the 1950s through to the 1990s led to the evaluation and development of the Nigramoep prospect. A total of 84,000 metres in 154 surface diamond holes and a further 494 underground diamond holes comprising 74,000 metres were drilled during the course of the life of the mine. All drill results have been digitally captured and stored within Orion's database and are currently being modelled ahead of confirmation drilling that will be required to establish mineral resources declared in compliance with JORC standards. Mine development at Nigramoep commenced in 1990 with a vertical shaft sunk from surface to 868m below surface and a decline system from surface to 911m below surface. According to historical mine records and verbal accounts from past mine employees, underground production commenced in 1992 with an average of approximately 60,000 tonnes per month achieved. Production ceased in 2002 and, according to historical records, as of April 2002, a total of 7Mt of material at an average of 2% Cu was trammed over the ten years of mining. The ore was milled and concentrated on site with the concentrate hauled to a central smelter at Nababeep. This data is expected to assist in identifying blind intrusive copper bodies. This area of the Okiep Copper District is very mountainous and inaccessible; only becoming more accessible after the consuction of haulage roads to reach the mine in the 1990's. The area has therefore had less intense surface exploration and presents a high priority exploration area with a key structural corridor linking the Nigramoep and Nababeep Mines. At Nigramoep the copper mineralisation is very steeply dipping, plunging to the north-east, with the hanging wall of the mineralisation nearly vertical. In plan view, the mineralised body has an east-northeast trend with dimensions in the order of 250m by 100m. Investors, Media, JSE Sponsor, Errol Smart - Managing Director & CEO, Nicholas Read, Monique Martinez, Denis Waddell - Chairman, Read, Monique Martinez,Den Waddell - Chairman, read and Chief Executive Officer, Nicholas Read, Read, Read, and SAFTA for a portfolio of mineralisation. Announcement • May 23
Orion Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 12.386497 million. Orion Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 12.386497 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 593,499,999
Price\Range: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 115,355,330
Price\Range: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 116,911,127
Price\Range: AUD 0.015
Transaction Features: Subsequent Direct Listing Announcement • Feb 08
Orion Minerals Limited announced that it expects to receive AUD 21 million in funding from The Industrial Development Corporation of South Africa Limited Orion Minerals Limited announced that it has entered into agreement with returning investor The Industrial Development Corporation of South Africa Limited for a private placement of senior secured convertible loan for gross proceeds of AUD 21,000,000 on February 8, 2023. The loan will bear an interest rate of South African Prime Rate plus 3.5% accrued on monthly basis. The loan will be available for draw down until December 31, 2024 and any portion of the Loan that has not been drawn down by December 31, 2024 shall immediately be cancelled after December 31, 2024. The final repayment date of the loan will be the earlier of 30 days from financial close or the last day of the term being the period commencing on the first date on which the loan is drawn down and ending not more than 36 months thereafter. The transaction is subject to approval from board of directors and other relevant regulatory approvals. Announcement • Jan 03
Orion Minerals Limited announced that it has received AUD 0.73 million in funding from Tembo Capital Management Limited Orion Gold NL announced a private placement of unsecured convertible loan for gross proceeds of AUD 730,000 on January 3, 2023. The transaction will involve participation from Tembo Capital Mining Fund II LP, a fund managed by Tembo Capital Management Ltd. The interest is 12% per annum. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Godfrey Gomwe was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Godfrey Gomwe was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Godfrey Gomwe was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Is New 90 Day High Low • Jan 19
New 90-day low: R0.31 The company is down 9.0% from its price of R0.34 on 21 October 2020. The South African market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 4.0% over the same period.