Wrap Text
Glencore Prepayment Financing Agreement Progressing
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
Glencore Prepayment Financing Agreement Progressing
Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to announce that substantive progress has
been made towards satisfying the outstanding conditions precedent related to the Glencore plc (Glencore)
financing and offtake agreements entered into earlier this year, as announced on 9 February 2026. These include:
• approval by the South African Reserve Bank has been received;
• the intercreditor agreement to be entered into between Glencore and Triple Flag Precious Metals is in an
advanced form, subject to execution; and
• the offtake agreements to be entered into with Glencore are in final form, subject to execution.
The substantive progress made on the fulfillment of the outstanding conditions precedent is expected to allow
Tranche A of the financing to become unconditional and drawdown to occur by the end of August 2026, after
which the construction of the Uppers can commence. Tranche B of the financing requires Glencore to secure
non-recourse funding from third parties to enable it to fund its prepayments in relation to Tranche B which is
progressing.
Orion's Managing Director and CEO, Tony Lennox, commented:
"We are pleased that the conditions precedent for drawdown of Tranche A under the Glencore financing
agreement are nearing satisfaction, which will allow us to move into the execution of the Uppers at Prieska. This
will be a major milestone in the life of Orion, and we look forward to becoming a producer, which on the current
timetable is expected to occur, 13 months after Tranche A of the financing closes."
For and on behalf of the Board.
Tony Lennox
Managing Director and CEO
31 July 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).
Date: 31-07-2026 07:45:00
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