https://www.miningweekly.com

Orion Minerals lender extends loan due date to June

24th January 2020

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

The due date of ASX- and JSE-listed Orion Minerals’ loan facility with Tembo Capital has been extended to June 25, from January 25.

Orion secured the $3.6-million convertible loan facility with Tembo Capital last year.

Orion said in a statement on Friday that the term extension ensured that proceeds from the company’s recent capital raisings could be used to progress the redevelopment of the Prieska copper/zinc project, in South Africa’s Northern Cape province.

Instead of a cash payment, Tembo may elect to receive the balance of the loan facility through the issue of Orion shares at a price of $0.026 apiece.

At the end of December, the balance of the loan facility was $4.02-million, which includes capitalised interest and fees.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

VISIT SHOWROOM 
Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.094 0.756s - 110pq - 2rq
Subscribe Now