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got the feeling our largest holder might be buying more. his broker might be pushing sp down so that they can accumulate cheap shares for him.
seen this before.
More people bailing. Who can blame them?
Lowest share price since March 2020.
What’s your point WD ?
From November 2021:
Brian Timmons, Non-Executive Chairman, commented:
"The new Board is acutely aware that shareholders have been waiting a long time for the Company to deliver a return to shareholders and, more recently, to utilise its balance sheet and deliver a strategy creating meaningful shareholder value. Working with Brendan, our priority is to evaluate and execute an opportunity or opportunities whereby Ormonde can leverage its listing and balance sheet to generate shareholder value. We will do this alongside reviewing the Company's existing assets to maximise opportunities therein, while placing a strong emphasis on cash preservation."
No doubt on Christmas bonuses and severance payments to the management team.
It is unbelievable that Steven Nichol is back in their employment as a key strategist
He was chased out of the Barruecopardo mine following his titanic moment of
digging in the wrong place for the first year of production.
Goodnight Orm, I expect TA to buy you all out at .01p.
So they’ve done absolutely nothing since they sacked off the management and board last September…
Except spend €1.2m.
Not sure what on…
"potential transaction relating to the Company's interests at La Zarza" - sale, or other?
(Asset from website: landholding over the La Zarza deposit - 210 hectares; data assets including the drillhole database, JORC resource block models and all feasibility study testwork, designs and models; 24 kilometres of diamond drill core).
If sale, then still leaves the bigger question what will be done with the total cash.
MCAP of £3m with £3.75m CITB.
Year end results will now be announced later than recent years. Pathetic. Maybe they need more accountants on the board.
They all need a good kick up the *rse.
“Coiled spring”…?
More like something else that’s often coiled…
Zero movement since they sacked off the management and Board at the AGM, Anderson’s cronies haven’t got a clue.
All that’s happened is investor money has been spent and share price has dropped.
'Spanish business'? I don't think it is a on-going business but they do have some assets in Spain, an unused gold mine. It was valued at £5m at some point but who know what it worth now. It is the main reason the 3.2m market cap seemed cheap. Lord know what is going on here now, you would have thought that once TA pushed out the board that there would have been a plan? Didn't he buy most of his stake here for 2p plus?
We have a part time and unpaid board of accountants with no technical knowledge, appointed by a shareholder who runs a cinema business. Nothing of substance reported to shareholders in the nine months since they were appointed. Not even any updates on the Spanish business, if there still is one. Coiled spring...??
I'm perhaps wearing the same spectacles, but see ORM more as a coiled spring, a rapid response team on high alert ready to pounce as soon as the right opportunity arises. Hopefully we haven't been put away in the cupboard with mothballs, at least.
The struggling state of the wider small-miner market could be both negative and positive. Effectively being in 'mothballs' has not made that much difference to the sp, compared with some others that have been actively trying to keep their business progressing through the downturn with lots of spending. The positive is that an opportunity e.g. investment in another company, or JV(?), could be potentially be picked up at a low price. Rose-tinted spectacles perhaps.
There goes another week with no news.Even a tweet to say they're not bust would be better than nothing.
But wanting to see something positive from the company asap, just like other shareholders here.
RNS Number : 8848S
19 November 2021
Ormonde Mining plc
Ormonde announces that the Directors of the Company have, for the time being, elected to waive their entitlement to directors' fees and to grant share options to certain directors and employees in accordance with the rules of Ormonde's Share Option Plan, which was approved by shareholders on 27 September 2018. The decision on Directors' fees will be reviewed in line with future developments in the Company's strategy.
Accordingly, on 18 November 2021, the Company granted share options ("Options") over 9,150,000 ordinary shares in the capital of the Company ("Ordinary Shares") to directors and employees of the Company. The exercise price for each option is Euro 0.011, this being a premium of 10% over the closing share price of an Ordinary Share on the Euronext Growth Market of Euronext Dublin on the day prior to award of the Options, being 17 November 2021. The Options have a 10-year duration and will vest in two equal instalments, on issuance, and on the first anniversary of that date.
Sit around doing nothing on big wages until the money runs out. No wonder they were so keen to seize control, money for nothing.
Theres feck all happening....best get a move on before inflation eats away whats left of the capital
Not an RNS since 2021, even suspended shares get more updates than this.
"Enviable position"? - it's a stretch, but cash in the bank, some assets, an AIM listing
What planet are these guys on? Earth?
£3.2 million market cap - it's easier to multiply small numbers than large ones
Share price at lowest point in 2 years - par for the course in this sector at the moment
No projects - clearly stated they are assessing new projects, we wait to see
No newsflow - true, but news will be reported when it's worth reporting
No management team - untrue
Why is this even allowed to trade more than 2 years after selling its main asset? Because of the above.
"Enviable position"?
What planet are these guys on?
£3.2 million market cap. Share price at lowest point in 2 years. No projects. No newsflow. No management team.
Why is this even allowed to trade more than 2 years after selling its main asset? Bizarre.
Thanks sas.
Is this a response from them today?
I think others have tried with less success.
At least it shows lights are still on etc!
Hopefully this also means the majority of the funds are still available too and not being frittered away. Certainly more positive than negative.
Matt