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Orion Minerals repaid a legacy loan facility, satisfying a key condition precedent for drawing down ZAR370 million of committed funding for the Prieska Project in South Africa.
The repayment enables Orion to access the ZAR250 million Industrial Development Corporation of South Africa Limited convertible loan facility and the A$10 million Triple Flag early Funding Arrangement.
The funds will facilitate the completion of the feasibility study for early mining works, the commencement of mine dewatering, and advancing Orion's broader funding and development strategy for the Prieska Project.