MINING WEEKLY / 29 JUNE 2018 - 12.01 / MARLENY ARNOLDI
ASX- and JSE-listed Orion Minerals has issued additional shares to its South African black economic empowerment (BEE) partner to the value of $250 000.
This will be added to Tranche 2 of the company’s placement of shares, announced earlier this month, to raise an aggregateof $11-million to progress its Prieska zinc/copper project, in South Africa’s Northern Cape province.
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The placement is made up of $3.39-million in Tranche 1 (using the company’s 15% placement capacity) and an additional $7.86-million in Tranche 2 (205.7-million shares), which is subject to shareholder approval in August
Orion on Friday issued 91-million Tranche 1 shares in the company at $0.037 apiece.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER