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OrionMin - quarterly activities report
During the March 2025 Quarter, Orion continued to progress the development of its flagship project, the Prieska Copper Zinc Mine (PCZM) in South Africa's Northern Cape Province, with the completion of an updated and optimised Definitive Feasibility Study (DFS). Following an internal review by independent technical experts, Practara Metals and Mining Advisory (Practara) the DFS was released to the Australian Securities Exchange (ASX) and the Johannesburg Stock Exchange at the end of the Quarter.
Orion continued its support for Zenisha's Play and Learning Centre by providing refreshments and transportation for a special awareness drive in Marydale. This event took place in March on World Down Syndrome Day in partnership with the Department of Health and the Marydale Clinic. At the event, the teams from Zenisha's and the Department of Health shared valuable information about Down Syndrome and Foetal Alcohol Syndrome. Zenisha's provides invaluable support to parents within the community whose children are affected by these conditions and other disabilities.
Making positive contributions to the state of the natural environment, reducing pollution and ensuring negligible contamination from operational activities are central to Orion's business model and part of the Company's commitment to delivering the highest level of environmental compliance, while managing and monitoring the environmental impacts of our activities throughout the exploration and mining lifecycle.
Metals Vapour Refining Project
Orion continued to review and evaluate the potential for application of Chloro and Carbonyl metal vapour refining to produce premium value chemical and electronic quality metal products. Other competing hydrometallurgical methods will also be considered going forward.
Exploration activities in the Quarter included ongoing review, processing and modelling of existing geophysical survey results, and the planning and design of detailed follow-up geophysical survey programs.
Cash on hand at the end of the Quarter was AUD1.66 million. Payments made to related parties and their associates during the Quarter was AUD145 000 for director fees and consulting fees as well as AUD(45 000) (nett) to joint venture partners, as listed in Section 6 of the Company's Quarterly Cash Flow Report (Appendix 5B).
The Company anticipates completion of phases two and three of the acquisition, which are each subject to the granting of the relevant mineral rights (Mineral Rights) to Southern African Tantalum Mining (Pty) Ltd., Nababeep Copper Company (Pty) Ltd and Bulletrap Copper Co (Pty) Ltd. (as the case may be) (each a Target Entity) and, if applicable, approval from the Minister of the Department of Mineral and Petroleum Resources (or his lawful delegate) in terms of the South African Mineral and Petroleum Resources Development Act, 2002 for the transfer of the relevant Mineral Right(s) from each Target Entity to the relevant Orion subsidiary (section 11 consent), in the coming months.
Leadership Transition
Subsequent to Quarter end, the Company announced that following the recent achievement of key milestones with its South African base metal projects, Errol Smart decided to step down as Managing Director and Chief Executive Officer, effective 3 April 2025.
Smart was succeeded as Managing Director and CEO by Anthony Lennox, who has been a non- executive director of the Company since December 2023. Lennox is a highly experienced operational leader with vast experience in the construction, development and operation of large-scale mining projects (refer ASX/JSE release 3 April 2025).
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