South Africa-focused Orion Minerals will raise some A$5.5-million from a share placement to sophisticated and professional investors to fund the completion of a bankable feasibility study (BFS) and early stage work at the Prieska copper/zinc project, in the Northern Cape.
The company on Thursday said that it had received firm commitments for the placement of 222-million shares, priced at 2.5c each, with shareholder Tembo Capital Mining Fund and its affiliates subscribing for A$2.5-million of the placement.