Orion Minerals secures $0.5m loan facility

Orion Minerals Limited (JSE: ORNE) announced today that it has secured a loan facility of USD 0.5 million from Tarney Holdings Pty Ltd, a company associated with Orion's Chairman, Mr. Denis Waddell. The unsecured loan facility will be used primarily for working capital purposes. Key terms include a loan amount of USD 0.5 million, interest capitalized at 10% per annum, and repayment due on the earlier of completion of a funding transaction sufficient to repay the loan, September 30, 2025, or a later date agreed upon in writing. Orion has provided customary undertakings and warranties for this type of agreement.