Overview of Orion Metals Limited's Quarterly Activities Report

Orion Metals Limited (ASX: $ORM) has released its Activities Report for the quarter ending 29 February 2024. The report highlights the company's focus on investigating the acquisition of new assets to enhance shareholder value and exploring alternative funding arrangements. The company also provided details of its recent capital raising activities and adherence to ASX requirements.

Directors' Focus and Financial Update

The Company's directors have concentrated on investigating the acquisition of new assets to increase value for shareholders and sourcing new funding arrangements. Professional advisors have been engaged to explore investment opportunities in mining or exploration assets and to assess the need for further capital raising. The recent capital raising activities, including the issuance of shares and the focus on working capital, demonstrate the company's commitment to supporting its future activities. The Company's shares remain suspended from trading on the ASX until compliance with various ASX listing rules is achieved. The Quarterly Cash Flow Report details the funds flow for the reporting period and the cash on hand at period-end, while payments to related parties are also disclosed.

Summary of Quarterly Activities and Outlook

Orion Metals Limited (ASX: $ORM) has focused on exploring opportunities to acquire new assets and secure alternative funding arrangements to enhance shareholder value. The recent capital raising activities, including the issuance of shares, have provided working capital for the company. Despite the suspension of trading on the ASX, the company continues to adhere to ASX requirements, including timely financial report lodgement and continuous disclosure obligations. The Quarterly Cash Flow Report outlines the funds flow for the reporting period and the cash on hand at period-end. Orion Metals Limited remains committed to its exploration and corporate strategies, aiming to create value for its shareholders in the future.