Orion Minerals (ORN) Resources Rising Stars Gold Coast Conference summary

Strategic project overview

• Revitalizing two major mining assets in South Africa's Northern Cape, focusing on copper and zinc production.

• Portfolio includes Prieska Copper-Zinc Mine, Okiep Copper Project, and Jacomynspan Project targeting nickel, copper, cobalt, and PGEs.

• Prieska is transitioning from exploration to production, with a staged approach for early and long-term output.

• Okiep, a historic copper region, is being optimized for improved grade and capital efficiency.

• BHP Xplor partnership supports exploration across a vast, underexplored copper region in southern Africa.

Project timelines and execution

• Prieska's first production from upper levels expected within 13 months of funding, with full-scale output at 2.4 million tonnes per year.

• Okiep may achieve production before Prieska's deeper levels, with ongoing optimization to enhance returns.

• Five extension targets at Prieska will be evaluated through underground drilling as mining progresses.

• Okiep's brownfield setting includes 12 additional identified deposits for future sequencing.

• Exploration portfolio covers 3,500 sq km, forming a third strategic priority.

Financial and operational highlights

• Prieska's capital intensity is lower than many global copper projects, enhancing its competitive position.

• Glencore prepayment and offtake agreement secures $250 million in funding over three tranches, supporting 10+ years of concentrate marketing.

• Steady-state production at Prieska targets 22,000 tonnes copper and 65,000 tonnes zinc in concentrate annually.

• Okiep optimization aims to reduce capital and bring higher grades forward, with strong drill results reported.

• Prieska sits in the lowest quartile of global copper producers due to by-product credits.