Orion Minerals raises $8 million through BEE ownership restructure ahead of completed Prieska BFS – Proactive Investors Australia
() has completed an $8 million capital raising as part of a proposed restructure of the companys black economic empowerment (BEE) equity participation.
The raising is underpinned by a group of high-profile South African investors and has achieved accelerated compliance with the ownership aspects of the South African Mining 3 (MC3).
Representing a milestone for Orion, the raising precedes the company obtaining a mining right for its flagship Prieska Zinc-Copper Project in South Africas Northern Cape province and the delivery of the projects bankable feasibility study (BFS) later this quarter.
Funds will be used to finalise the Prieska BFS and go towards continued exploration at Orions prospective tenemen…