JOHANNESBURG (miningweekly.com) – ASX- and JSE-listed Orion Minerals on Friday issued the first tranche of shares as part of a two-tranche capital raising.
The company aims to raise $5.5-million at an issue price of 2.4c an ordinary fully paid share to fund the resource drilling campaign at the Prieska zinc/copper project, to continue exploration programmes on its Northern Cape tenements and for general working capital purposes.
Orion issued 144.58-million shares in the first tranche to raise $3.47-million.
This will be followed by a second tranche of $2.03-million, which will remain subject to shareholder approval at a general meeting planned to be held mid-December.