Orion Minerals Ltd (ASX: ORN | JSE: ORN) is a globally diversified metal explorer and developer which is on track to become a new generation base metals producer through the development of its flagship Prieska Copper-Zinc Project in South Africa’s Areachap geological terrane, Northern Cape.

Key Investment Highlights

• Internationally diversified base metals explorer/developer
• The Orebody:
  • Globally significant VMS Mineral Resource of 30.49Mt at 1.2% Cu, 3.7% Zn
  • Mineral Reserve of 14.5Mt at 1.1% Cu and 3.2% Zn
• Updated BFS completed May 2020 following successful optimisation & value engineering, including:
  • Initial 12-year, 2.4Mtpa operation targeting 22ktpa Cu and 70ktpa Zn
  • Life of Mine production 226kt Cu and 680kt Zn
  • Strong operating margins and financials:
    • Pre-tax free cash flow A$1.6bn (post tax A$1.2bn)
    • Pre-tax NPV (8% disc) A$779m (post tax (A$552m)
    • Payback period 2.4 years from first production
    • All in sustaining margin of 47%
    • Peak funding requirement A$413m
• Globally competitive costs, strong margins and financials
• Project financing and strategic partner discussions well advanced
• 24-year Mining Right granted, with all other permits in place
• Exceptional exploration and growth pipeline
• Landmark black economic empowerment agreement completed
• Well-placed to access Australian and South African capital markets
• Exceptional exploration and growth pipeline

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