Today Orion has announced that, following satisfaction of the final suspensive conditions for the Okiep Copper Project (OCP) Transaction – including receipt of exchange control approval from the Foreign Surveillance Department of the South African Reserve Bank – settlement of the  Final Acquisition Consideration for Orion’s acquisition of a controlling interest in the OCP, located in the Northern Cape Province of South Africa, is scheduled to occur by 19 March 2026.

The remaining consideration payable by Orion and its subsidiary, Area Metals Holdings No 6 (Pty) Ltd, totals approximately:

• ZAR2.30 million (~$195,000) in cash; and
• ZAR12.44 million (~$1.05 million) to be satisfied through the issue of 71.91 million fully-paid ordinary Orion shares.

In addition, Orion’s remaining commitment under the OCP Transaction is to undertake approximately ZAR6.35 million (~$0.54 million) of exploration expenditure on the mineral projects by 30 November 2026.  Exploration and drilling programs are currently underway at the OCP.