Orion Minerals: Raises $20m for South African projects

Orion Minerals Raises $20m for South African projects

• Orion Minerals (ORN) will undertake a $20 million placement to fund the next phase of development at its South African projects
• The placement will be undertaken in three phases with a total of 1000 million fully-paid ordinary shares on offer at a price of two cents
• Orion will also be undertaking a share purchase plan to raise up to a further $3 million with eligible shareholders able to subscribe for up to $30,000 worth of shares
• The money will be used to progress the development of the Prieska Mine, progress the feasibility study on the Okiep Project and undertake test work on the Jacomynspan Project
• Orion ends the day in the grey with shares trading at 2.2 cents