Australia's Orion Minerals rises on deal to fund mining ops at South African project

Orion Minerals

08/02/2023 24:51

** Shares of Orion Minerals  ORN.AX  rise as much as 5.9% to
A$0.018, highest since Jan 18
    ** Diversified metals explorer says entered into definitive
agreement with Industrial Development Corporation of South
Africa Ltd 
    ** Deal for ~A$21 mln ($14.62 mln) senior secured
convertible loan facility
    ** Co says loan will fund early mining works at the Prieska
copper-zinc project in the Northern Cape region of South Africa 
    ** More than 1.1 mln shares change hands, compared with the
30-day average volume of about 459,000 shares 
    ** Stock had risen 6.3% this year, as of last close
($1 = 1.4364 Australian dollars)
 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))