18 Mar 2009

Half year loss posted by mining company

5:24 am on 18 March 2009

Orion Minerals has posted a loss, and says it needs global economic conditions to improve before it can start its operations in Chile.

The mining company, which was listed on the NZX alternative market through a reverse takeover of RLV No 3 late last year, lost $432,000 in the six months to December.

It has a mining concession in Chile, which was due to start in the September quarter of this year.

Orion says getting operations underway is also reliant on completing a programme of capital raising.