Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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His KDR holding is much smaller than ORM, would make no sense. And at 17% he has influence not control. There is no other big bloc of holders on his side. He can't push through changes the rest don't want, for better or worse.
Let’s hope TA doesn’t try and get ORM to buy or invest in Karelian Diamonds.....
L.
With T Anderson's latest increase in his shareholding, he is clearly not just seeking greater influence within the BoD, but to guide its future direction. His nominee last month (B Timmons) was after all to 'add perspective to the Board as it seeks to develop its business'.
Whether this direction differs greatly from Ormonde's current business is of course open to speculation but with no current BoD members holding shares and no other material individual shareholder (listed), whether TA needs outright control to achieve his objectives is debatable.
The existing gold interests Orm have failed to achieve any buyers previously and whilst gold prices have firmed considerably since then, I get the impression that the current re-evaluation of these by the BoD is merely a stalling tactic to deflect attention as the power play works its way through.
As has been mentioned previously, Orm's current AIM listing coupled with its cash from its Barruecopardo debacle was always going to be an opportunity for someone with vision to exploit.
The fact that nothing by way of alternative proposals have crystallised in c5 months since the exit from Barruecopardo (albeit acknowledging the difficulties caused by Covid 19), hardly suggests a dynamic within our BoD. LTH's holders know this only too well.
When there is a vacuum you can be sure someone will soon fill it........I just wish they would get on with it!
Thanks for the insight. Either way you'd hope he doesn't want to destroy further value given the investment he has. The senior partners are quite large right, for 500k oz I'm hopeful they could get 1 or 2m from a small cap
Think gold may not be on his radar, which is the worrying bit. As neither senior partner in the gold projects seem interested, a detailed survey costed on a pro rata basis would take my vote. You can be sure the bod will find a mining project soon to counter TA.
Oh fair enough, didn't realise he was in so high. Still, that may be his wises option on a forward looking basis. I'd see if they can get someone to look at that 500k oz gold resource.
Not when his average buy is 3.5c. Not sure here which is worse bod or TA. Would pay for another option.
Haha. Tbf he could be (even though I concede not likely). He puts in £1m or whatever, gets the gold assets sold for £1m and company wound up, makes £300 or £400k, easy.
Must be something decent in the pipeline, he's not building a position based on our gold plays that's for sure.
TA up to 17% now
Volume generally much less limited to buy though still normally limits on selling (can normally get quotes for £5k of my c.£20k holding). Not interested in selling at these levels but like to test just to see where things are. Hopefully it will continue to bob around but upwards over time. Poor quality but nevertheless gold assets still assigned a -ve value!
Hopefully some movement today big money coming inn
Thats a hell of buy £104K could this be the start......possible news leak ? possibly an announcement next week....
Definitely games being played with regards to the SP, I believe the MM's are holding onto their share cause they know whats coming !
Throughout the day I couldn't even buy £1k......and just look at the spread .70 to .80.....Looks like they don't want you buy !
The SP soared by a massive .025 when a higher than usual volume representing 2.75% of voting shares was purchased at 1638 today.
Purchased at 1638 on Friday 03/07