Orion Minerals Ltd Announces Progress on Glencore Financing
Key points
- South African Reserve Bank approval received
- Intercreditor agreement between Glencore and Triple Flag Precious Metals advanced
- Offtake agreements with Glencore finalized
- Expected drawdown of Tranche A by end of August 2026
Full summary
Orion Minerals Ltd (ASX/JSE: ORN) reports substantive progress in meeting conditions for the Glencore financing and offtake agreements. Key milestones include approval by the South African Reserve Bank, an advanced intercreditor agreement between Glencore and Triple Flag Precious Metals, and finalized offtake agreements with Glencore. These developments are expected to allow the drawdown of Tranche A by the end of August 2026, paving the way for the construction of the Uppers at Prieska.
Guidance
Tranche A drawdown expected by end of August 2026
Outlook
Progress on Glencore financing expected to allow commencement of Uppers construction at Prieska.
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