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Share Purchase Plan, Raising $3.6M
Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
Share Purchase Plan Closed, Raising $3.6M
Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) is pleased to advise that its Share Purchase
Plan (SPP), which closed on Tuesday 23 July 2024, has raised a total of A$3.6 million (~ZAR44 million).
Under the SPP, each Eligible Shareholder was entitled to apply for parcels of new fully-paid ordinary shares
(Shares) from a minimum parcel of A$165 (or ZAR2,000) up to a maximum of A$30,000 (~ZAR365,000) without
incurring brokerage or transaction costs. The issue price is A$1.5 cents per Share (ZAR18 cents), being the
same price paid by investors under the recent Placement.
The SPP attracted strong support from shareholders, particularly those in South Africa, where a total of
ZAR33.6 million (~A$2.8 million) was raised.
The highly successful SPP follows the capital raising completed earlier this month by way of placement of
new Shares to sophisticated and professional investors to raise ~A$7.7 million (~ZAR92.3 million) (Placement).
Approximately 513 million Shares were issued under the Placement, at an issue price of A$1.5 cents per Share
(ZAR18 cents).
Orion's Chairman, Denis Waddell, commented:
"I would like to sincerely thank all shareholders who have participated in the Placement and SPP. The SPP
received particularly strong support from our South African shareholder base – which is a great result and
reflects Orion's positive standing in the local community. Orion shares are well traded on the Johannesburg
Stock Exchange, providing valuable investor support in our local market.
"The proceeds of the SPP take the total amount of the recent capital raising to $11.3 million – a fantastic
outcome particularly considering the current volatile conditions in global markets. This further strengthens
our treasury position and puts us in a strong position to complete and deliver the Bankable Feasibility Studies
on our two copper development projects in South Africa next month while continuing the site engineering
work at PCZM and drilling at Okiep ."
Shares subscribed for under the SPP are expected to be issued on 30 July 2024.
For and on behalf of the Board.
Errol Smart
Managing Director and CEO
26 July 2024
ENQUIRIES
Investors Media JSE Sponsor
Errol Smart – Managing Director & CEO Nicholas Read Monique Martinez
Denis Waddell – Chairman Read Corporate, Australia Merchantec Capital
T: +61 (0) 3 8080 7170 T: +61 (0) 419 929 046 T: +27 (0) 11 325 6363
E: info@orionminerals.com.au E: nicholas@readcorporate.com.au E: monique.martinez@merchantec.com
Disclaimer
This release may include forward-looking statements. Such forward-looking statements may include, among other things,
statements regarding targets, estimates and assumptions in respect of metal production and prices, operating costs and
results, capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates, and
are or may be based on assumptions and estimates related to future technical, economic, market, political, social and
other conditions. These forward-looking statements are based on management's expectations and beliefs concerning
future events. Forward-looking statements inherently involve subjective judgement and analysis and are necessarily
subject to risks, uncertainties and other factors, many of which are outside the control of Orion. Actual results and
developments may vary materially from those expressed in this release. Given these uncertainties, readers are cautioned
not to place undue reliance on such forward-looking statements. Orion makes no undertaking to subsequently update
or revise the forward-looking statements made in this release to reflect events or circumstances after the date of this
release. All information in respect of Exploration Results and other technical information should be read in conjunction
with Competent Person Statements in this release (where applicable). To the maximum extent permitted by law, Orion
and any of its related bodies corporate and affiliates and their officers, employees, agents, associates and advisers:
• disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change
in expectations or assumptions;
• do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of
the information in this release, or likelihood of fulfilment of any forward-looking statement or any event or results
expressed or implied in any forward-looking statement; and
• disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for
negligence).
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Date: 26-07-2024 08:25:00
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