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Orion Minerals Ltd (ASX:ORN)

ALERT: Price-sensitive ASX Announcement for ORN
Current share price for ORN : $0.023 0.001 (4.55%)+
Announcement
Release
31 Jul 2026 10:02AM
Price at Release
$0.022
Full Release
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Summary
Orion Minerals Limited announced substantive progress in fulfilling the outstanding conditions for the Glencore Prepayment Financing Agreement. The company has received necessary approvals from the South African Reserve Bank, and the intercreditor and offtake agreements with Glencore are in advanced and final form, respectively. Tranche A of the financing is expected to become unconditional by the end of August 2026, facilitating the commencement of construction at the Uppers. Orion anticipates becoming a producer 13 months after the closure of Tranche A.
Key Points
  • Orion Minerals Limited announced progress on Glencore Prepayment Financing Agreement.
  • South African Reserve Bank approval received for the financing.
  • Intercreditor agreement with Glencore and Triple Flag Precious Metals is advanced.
  • Offtake agreements with Glencore are in final form awaiting execution.
  • Tranche A of financing to become unconditional by end of August 2026.
  • Construction of the Uppers to begin after Tranche A closure.
  • Orion expects to become a producer 13 months following Tranche A closure.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.