ASX- and JSE-listed Orion Minerals has requested a trading halt in its shares in anticipation of a proposed capital raising.
The company has requested two consecutive trading halts until the start of trade on August 10, or such earlier time as it makes an announcement to update the market about a potential capital raising.
The trading halt will allow Orion time to consider, plan and execute the capital raising.
The company is developing the Prieska zinc/copper project, in South Africa’s Areachap geological terrane, in the Northern Cape. The project has a mineral reserve of 14-million tonnes, grading 1.1% copper and 3.2% zinc.