Dual-listed Orion Minerals has welcomed the support of Tembo Capital Mining and the holders of its convertible notes as it advances its Prieska zinc/copper project, near Kimberley, in South Africa’s Northern Cape.
Tembo has provided Orion with a new A$3.6-million loan facility to progress the project’s bankable feasibility study (BFS), which is on track for completion in the second quarter.
The holders of Orion’s convertible notes have, in support of the company’s ongoing capital requirements, also agreed to extend the maturity date of those notes by six months to the end of September.
“We are very pleased with Tembo’s ongoing support, as well as the support of the holders of the convertible notes, as it enables the continued rapid advance of the Prieska project through to the completion of a BFS,” commented Orion Minerals chairperson Denis Waddell.
“Our focus is on bringing Prieska into production as quickly as possible, based on the parameters outlined in the positive scoping study released in December. The BFS is well advanced and on track to be completed in the second quarter,” he added.