So the announcement is out and it looks like ORN has staged a...

So the announcement is out and it looks like ORN has staged a coup with getting its hands on a nice chunk of the Fraser belt .

"The transaction, which includes a proposed $5 million capital raising, will re-position Orion as one of the dominant players in the emerging northern end of the Fraser Range province, with a combined land-holding of 4,210km2. The belt has delivered the world-class Nova-Bollinger nickel-copper discoveries....Orion believes that the tenements are highly prospective for magmatic Voisey’s Bay-style nickel-copper discoveries. In addition, historical exploration in the area has identified potential for gold, PGE and chromite mineralisation"

That all sounds excellent !

Then....

"As part of the Creasy Group transaction, the Company is undertaking a $5 million (up to a maximum of $7 million) capital raising by way of a share placement at 12 cents per share....."

There is also a bunch of options with staggered expiry dates.

Can someone explain to me what this means for the SP given it is currently at 12c as we speak ? Actually 13.5c before the TH .

I have a nice chink of this company at .08c so I am hoping this financial deal does not slow things down ?

At any rate.....sounding good,.