Ann: Orion announces Share Placement, Loan Conversions and SPP, page-4

Debating whether I might partake in the SPP.

On the downside, it has only been a downwards share price movement since partaking in the last CR at 1.5c in July last year! Also, I was disappointed in both the delays to and outcomes of the DFS for Prieska and Okeip, although perhaps my targets were set too high? Losing Errol was also a body blow and I am yet to see Tony step up as CEO, although he may be a doer and not a talker.

On the upside, "finalisation of off-take related funding" sounds promising and is indeed the biggest pro. Also the fact that Denis Waddell and Thomas Borman provided recent large unsecured loans to ORN as bridging finance is a good sign as they should be "in the know" as to the progress ORN is making in financing. They are already pretty financially deep into ORN but were still prepared to go deeper in both April (Borman $2M) and June (Waddel $0.5M).

I had just over 3M shares pre the Prieska/Okeip DFS releases - sold ~1M immediately thereafter - may look to start rebuilding towards that initial stake. Would be further convinced if Tony et al can start some related newsflow.....