There seems to be bottomless investor confidence in Orion Minerals’ two projects in the Northern Cape Province of South Africa.
It has announced a strongly-supported $25 million capital raising to fast-track its strategy of developing two significant long-term base metal production centres in South Africa’s Northern Cape Province.
These being its Prieska Copper-Zinc Project and recently acquired Okiep Copper Complex which it intends to use as a launch pad to becoming a global player in the copper market.
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Orion Minerals’ Chairman, Denis Waddell, says:
“Orion has a unique opportunity to re-establish the Northern Cape Province as a globally significant copper producer at a time when demand for ‘future-facing’ metals like copper is being driven by an unprecedented decarbonisation push globally.
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“Collectively, I have every confidence that the Prieska and Okiep Projects will transform Orion Minerals into a leading international base metal producer over the next few years with an enviable exploration portfolio that will underpin a truly exciting future.”
Orion Minerals’ MD, Errol Smart, says:
“Our more recent OCC transaction is also a game-changer for the Company, bringing an outstanding asset in a premier copper mining district into our portfolio which we believe can be brought into production relatively quickly.
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“The funds raised will allow us to advance both projects rapidly towards development, while also undertaking a multi-pronged exploration effort which we believe could deliver some very exciting results over the next few months.
“This raise is one of the biggest financings for a South African focused junior exploration and development company in recent years and possibly signals a move in sentiment for a country with incredible under-explored and underdeveloped mineral wealth.