It has just completed a R92.3 million fundraising drive among professional investors and is now extending the same offer to its 22 000 retail investors.
It expects to raise a further roughly R60 million from this exercise to feed its exploration projects at the Prieska Copper Zinc Mine and the Okiep Copper Project in the Northern Cape.
This is small change in the grander scheme of things, but what's unique about the cash-for-shares fundraising drive is the appeal to retail investors, not just the teams in Sandton and Cape Town with big chequebooks.
The company says it wants to bring vibrancy back to the JSE by appealing to smaller investors and giving them a front seat in one of the few junior mining groups going all-in on South Africa.
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Orion partnered with investor marketing agency Utshalo to conceive and launch the scheme, which has already received massive support from local shareholders, says Paul Miller, CEO of Utshalo and a former Nedbank corporate investment banker and previously MD of JSE-listed junior miner Keaton Energy.
"There is no equivalent to a SPP in South African public markets.
"When South African listed companies raise money locally, they rarely include smaller shareholders - which we at Utshalo believe is to the detriment of the market," says Miller.
Orion, as an ASX primary listed company, subject to ASX listing rules, is showing the way.
Read the full article here.
It expects to raise a further roughly R60 million from this exercise to feed its exploration projects at the Prieska Copper Zinc Mine and the Okiep Copper Project in the Northern Cape.
This is small change in the grander scheme of things, but what's unique about the cash-for-shares fundraising drive is the appeal to retail investors, not just the teams in Sandton and Cape Town with big chequebooks.
The company says it wants to bring vibrancy back to the JSE by appealing to smaller investors and giving them a front seat in one of the few junior mining groups going all-in on South Africa.
...
Orion partnered with investor marketing agency Utshalo to conceive and launch the scheme, which has already received massive support from local shareholders, says Paul Miller, CEO of Utshalo and a former Nedbank corporate investment banker and previously MD of JSE-listed junior miner Keaton Energy.
"There is no equivalent to a SPP in South African public markets.
"When South African listed companies raise money locally, they rarely include smaller shareholders - which we at Utshalo believe is to the detriment of the market," says Miller.
Orion, as an ASX primary listed company, subject to ASX listing rules, is showing the way.
Read the full article here.