Wrap Text
Tembo Makes Way for New Major Shareholders
Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
Tembo Makes Way for New Major Shareholders
Shareholders Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) advises that after almost 10 years
as a major shareholder, Tembo Capital Mining Fund II LP (Tembo Capital) has disposed of its holding in
Orion. Tembo Capital’s shares have been acquired by long standing shareholder and supporter, Thomas
Borman and a prominent South African institution and recent shareholder.
Orion’s Managing Director and CEO, Tony Lennox, commented:
“We thank Tembo Capital for their long-term support. Orion would not be in its current position without
Tembo’s backing, which commenced in early 2017. We are also thankful to the buyers of the Tembo stake
for their continued support. We are excited to be moving into the next phase of Orion’s development, with
PCZM’s construction decision imminent and are grateful to have supportive shareholders that will help us
deliver our strategy.”
David Street, CEO of Tembo Capital Management, adviser to Tembo Capital Mining Fund II, commented:
"Tembo Fund II has been very involved in the development of Orion since the acquisition of the South
African projects in 2017. With the combination of the fund nearing the end of its term and the Prieska
Copper Zinc Mine being very close to a construction decision, it is an appropriate time for the fund to exit.
We are pleased to be able to facilitate supportive shareholders increasing their shareholding in Orion and
wish the Orion Board and Management team every success as they embark on the next step of the journey
to create a significant new base metals mine in South Africa."
For and on behalf of the Board.
Tony Lennox
Managing Director and CEO
9 October 2026
ENQUIRIES
Investors Media JSE Sponsor
Avishkar Nagaser Nicholas Read Monique Martinez
Executive: Corporate Communications Read Corporate, Australia Merchantec Capital
and Investor Relations
T: +61 (0) 3 8080 7170 T: +61 (0) 419 929 046 T: +27 (0) 11 325 6363
E: info@orionminerals.com.au E: nicholas@readcorporate.com.au E: monique.martinez@merchantec.com
Disclaimer
This release may include forward-looking statements. Such forward-looking statements may include, among other things,
statements regarding targets, estimates and assumptions in respect of metal production and prices, operating costs
and results, capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates,
and are or may be based on assumptions and estimates related to future technical, economic, market, political, social
and other conditions. These forward-looking statements are based on management’s expectations and beliefs
concerning future events. Forward-looking statements inherently involve subjective judgement and analysis and are
necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Orion. Actual results
and developments may vary materially from those expressed in this release. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking statements. Orion makes no undertaking to
subsequently update or revise the forward-looking statements made in this release to reflect events or circumstances
after the date of this release. All information in respect of Exploration Results and other technical information should be
read in conjunction with Competent Person Statements in this release (where applicable). To the maximum extent
permitted by law, Orion and any of its related bodies corporate and affiliates and their officers, employees, agents,
associates and advisers:
• disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change
in expectations or assumptions;
• do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of
the information in this release, or likelihood of fulfilment of any forward-looking statement or any event or results
expressed or implied in any forward-looking statement; and
• disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for
negligence).
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Date: 09/10/2026 08:36:00
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