Orion Minerals (ORN) Q2 2026 TU earnings summary

Executive summary

• Advanced due diligence and legal documentation for Glencore offtake and financing, nearing completion.

• Focused on operational readiness and value engineering at Prieska Copper Zinc Mine (PCZM) and Okiep Copper Project (OCP).

• Targeting transition to mining operations in 2026, with first copper and zinc production expected by late 2026/early 2027.

Financial highlights

• Cash on hand at quarter-end was A$5.74 million.

• Completed A$8.6 million capital raising via placement, including A$1.0 million from the Chairman.

• Payments to related parties totaled A$267k for director and consulting fees.

Outlook and guidance

• Main priorities for 2026 include closing Glencore financing, commencing construction at PCZM, and finalizing OCP optimization.

• Aims to deliver first concentrate from PCZM by Christmas 2026.

• Aspires to ramp up to >30ktpa copper and >65ktpa zinc at steady-state production.