Base Prospectus filed for secondary saleOrion likely needs cash.
The other large Orion Cdn investment is Nomad Royalties (NSR).
Orion owns about 400 mill shares which they received May 27th for a royalty portfolio. They are restricted on any sale for 12 months.
Yamana also received NSR shares for a royalty and NSR filed a similar base prospectus Sept 30th. Their restriction was 6 months, they cashed out today,
Perhaps this explains the persistent weakness in VGCX and gives the folks who bought at $17 an opportunity to average down. VGCX traded higher immediately following the prospectus filing about three hours before market close.
The prospectus discloses no new operational issues.