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- Orion Metals (ORM) has released its quarterly report for the period ending November 30, 2019
- Since the previous quarter, Orion metals has received the first $130,000 for the sale of seven tenements at the Tanami West Project
- Orion Metal’s wholly-owned subsidiary, Rich Resources Investments, is selling the tenements to PVW Resources for $250,000
- No further exploration has occurred at Orion Metal’s other projects during the period
- Company shares remain steady, worth 1.9 cents apiece
Orion Metals (ORM) has released its quarterly report for the period ending November 30, 2019.
During the quarter, Orion Metals received the first $130,000 of the total $250,000 for the sale of seven tenements at the Tanami West Project in Western Australia.
Orion Metal’s wholly-owned subsidiary Rich Resources Investments executed an agreement in August 2019 to sell its 65 per cent interest in the exploration tenements to PVW Resources.
The company did not report any other exploration or evaluation activity at its other projects during the period.
Orion Metals reported it has decided not to pursue further expenditure at the Mount Surprise Project in Queensland.
Subsequently, the company submitted the surrender of EPM 18850 to the Queensland Department of Natural Resources, Mines and Energy earlier in December.
In the report, the company said it is pursuing potential sources of funding, or potential joint ventures to finance operations and exploration at its Tom Camp Copper Gold project in Queensland.
Company shares remain steady, worth 1.9 cents apiece at market close.
