Orion Boosts Capital Raise to A$7.7m Amid Copper Price Run

Orion Minerals launches private placement to raise US$5 million

Orion Minerals announced that it plans to raise up to A$7.7 million (about US$5 million) through a private placement aimed at investors. Proceeds will mainly finance its copper operations in South Africa, including the Prieska and Okiep projects. The company intends to issue about 515 million shares at A$0.015 each. It expects to complete the …

Orion boosts capital raise to A$7.7m amid copper price run

ORION Minerals said on Thursday it had increased funds from a capital raise announced earlier this week to A$7.7m (R89m) from A$5.5m. The copper and zinc development firm said additional shares were taken up “sophisticated and professional investors”, some of them new to the company. Appetite for the startup is a promising sign after years of toil. An agreement with Glencore worth $250m has been a catalysing effect. Orion announced on Tuesday it…