Funding of the Prieska Copper-Zinc Project and Okiep Copper Project

Orion has announced that it has taken another important step in advancing the multi-pronged funding strategy for its flagship base metal project in the Northern Cape Province of South Africa after repaying a legacy loan facility.
The Company has satisfied one of the key conditions precedent to draw-down of both the ZAR250 million (~A$21 million) Industrial Development Corporation of South Africa Limited (IDC) convertible loan facility and the A$10 million Triple Flag Precious Metals Corp.) (with its subsidiaries, Triple Flag) early Funding Arrangement, through the repayment of the Anglo American sefa Mining Fund (AASMF) Loan Facility.
Both the IDC Convertible Loan and Triple Flag early Funding Arrangement form part of a broader funding strategy outlined in recent months that will underpin the near-term development of both the Prieska Copper-Zinc Project and Okiep Copper Project in the Northern Cape Province.