Orion Minerals Ltd (ASX:ORN), a mineral exploration company focused on copper, zinc and gold projects in South Africa and Australia, has released its quarterly cash flow report for the period ended June 2025. The report details the company’s financial activities, highlighting cash flow from operating, investing, and financing activities. Orion Minerals is dedicated to discovering and developing a portfolio of advanced mineral projects, with a strategic focus on the emerging base metals province in the Northern Cape region of South Africa.
During the quarter, Orion Minerals reported net cash used in operating activities of $2.475 million, primarily driven by exploration and evaluation expenses ($856,000), staff costs ($1.025 million), and administration and corporate costs ($650,000). Investing activities resulted in a net cash outflow of $1.189 million, largely due to payments for exploration and evaluation ($1.095 million) and property, plant, and equipment ($15,000). Financing activities provided a net cash inflow of $2.4 million, mainly from Triple Flag/IDC project financing.
At the end of the quarter, Orion Minerals held cash and cash equivalents of $208,000. The company has loan facilities totaling $42.595 million, with $42.495 million drawn at quarter end, leaving unused financing facilities of $100,000. Subsequent to the quarter’s end, Orion Minerals announced a capital raising of $5.8 million, which includes a share placement of approximately $3.3 million and the conversion of loans totaling around $2.6 million from Ratel Growth and Tarney Holdings. Additionally, the company announced a share purchase plan aiming to raise up to $4 million, which commenced on 15 July 2025, and is scheduled to close on 5 August 2025.
Orion Minerals anticipates that the aforementioned funding initiatives will enable the company to sustain its operations and achieve its planned business objectives. The company has been reviewing its net operating and investing cash flows following the completion of feasibility studies for both the PCZM and Okiep Copper Project at the end of the March 2025 quarter and has reduced expenditure where possible.
