Dual-listed Orion Minerals has secured a new A$3.6-million bridge loan facility from financier Tembo Capital Mining Find to progress the bankable feasibility study of its Prieska zinc/copper project, in South Africa.
The loan facility will be made available in two tranches, with the first instalment of A$0.6-million to repay all the amounts owing under the current bridge loan. The facility’s interest will be capitalsed at 12% a year, accrued daily on the amount drawn down.