PERTH (miningweekly.com) – Copper developer Orion Minerals has gone into a trading halt on the ASX, pending a proposed capital raise.
Reports emerged on Tuesday that Orion was looking to raise some A$25-million in a share placement, priced at 3.6c a share to fund Orion’s Prieska copper project, and the acquisition of the nearby Okiep copper complex (OCC).
Orion in February struck an exclusive option to acquire the OCC from South African Tantalum Mining for A$7.5-million.
Mining Weekly understands that demand has been pleasing with an announcement on cash raising expected soon.