Orion to Purchase Mills Following Positive Results at Copper-Zinc Project

Orion Minerals announced that, following positive studies at the Prieska copper-zinc project, the company has moved to secure specific mills.

Orion Minerals (ASX:ORN) announced that, following the successful conclusion of value engineering studies on the ore processing plant design and layouts for the Prieska copper-zinc project, the company has moved to secure specific mills required to realise the identified improvements via an option agreement.

Highlights are as follows:

  • Success in ore processing value engineering studies culminates in securing the right to purchase mills, that are normally long-lead items for the Prieska copper-zinc project.
  • The option secured, is over a pair of SAG and ball malls ideally suited to the Prieska ore and could realise a significant project capital cost saving.
  • Revised processing plant layout provides for significant improvements in the planned capital expenditure, operating costs and plant operability

Errol Smart, managing director, commented:

We are very pleased that we can now begin to lock in the anticipated project optimisations with associated positive CAPEX and OPEX savings. The plant optimisation studies progressed alongside studies on improved water treatment and optimisation of our mine-to-market schedule, all of which are now nearing completion.

The successful metallurgical optimisation of the process flowsheet has culminated in securing the right to purchase two new mills which are available at a significant discount to mills which would otherwise have to be placed on order as a long-lead item. These optimisations all promise to deliver an uplift on the already excellent investment case for the Prieska project.

Click here to read the whole Orion Minerals (ASX:ORN) press release.

Petratherm Limited Announces Filing of Early Warning Report Related to the Disposition of Common Shares of Outback Goldfields Corp.

Petratherm Limited (ASX: PTR) (“Petratherm”) announces that it has filed an early warning report (the “Report”) announcing that it has disposed of 33,333,333 common shares (the “Disposed Shares”) of Outback Goldfields Corp. (CSE:OZ) (formerly, Skarb Exploration Corp.) (“Outback Goldfields“). Petratherm acquired the Disposed Shares as consideration for the sale of its gold projects located in Victoria, Australia. Unless permitted under securities legislation, Petratherm must not trade the common shares before April 16, 2021. Following the expiry of this restriction period, Petratherm distributed all of the Disposed Shares in specie to its shareholders effective today. Following the disposition of the Disposed Shares, Petratherm holds nil shares of Outback Goldfields.

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of the Report by Petratherm.

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Once the merger is complete, the new company will become a top five lithium chemicals company globally — and top three outside of China — with production capacity of around 40,000 tonnes of lithium carbonate equivalent per year.

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