George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Ormonde announces that Brendan McMorrow, who was appointed as a non-executive director of the Company on 30 September 2021, has been appointed Chief Executive Officer ("CEO") with immediate effect. Mr McMorrow has over 25 years' experience as a senior executive and director of publicly listed natural resources companies and will assist the Company in the identification of new opportunities within the natural resources sector.
Gas play would be good. One thing for sure I expect the SP to be materially higher on any deal - Dunraven has been mooted before and could still be a front runner
Agree. 100% performance based remuneration (albeit temporary and the options generous) incentivises the directors, protects cash, and is positive for shareholders. Now for a nice juicy deal please. We might even be smiling in 2022, you never know :)
Ps Mcmorrow seems to be emerging as the key man here and the RNS language has switched from "mining" to "natural resources". Does this perhaps suggest they have an o&g opportunity in mind where mcmorrow has an interest, Dunraven, Circle etc? I know he has other mining interests too though Conroy Karelian etc so perhaps that's overthinking this.
Finally some news and positivity.
Im convinced there will be an RTO. Lets not forget MrA would not let the BoD dilute current shareholders. He is also keen to see value realised
I remain a holder here, this is defo not a crowded trade and happy to hold for as long as needed
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....This is positive in my view shows the company has plans. Mr Anderson is a man that can make things happen.
sp dropping… any strategic direction from the new Board? Two months in already, thought we would have seen something by now.
The RNS 19th Nov.
Where did you see that flundra ? No news / announcements.
Options in lieu of fees, good in principle at this stage imo
Radio silence. They have no plan other than using the investors money for their own purposes.
Today would be a good day to put a rocket up the BoD (with the blue touch paper lit). We need to hear from them.
I reckon when news finally lands the SP will motor. Mr A has a plan and all will be revealed soon.
What’s going on here then guys? Seems very quiet. Keen to hear from you Mr Anderson? Hellooooo
Board should have held more shares...that would have solved everything...Now the ball is in Mr Anderson's court
I think you’ll find it was 18 months of inaction created by a majority shareholder who didn’t agree with anything proposed by the Management and Board. Management was new (within 2 years?), Board was similarly relatively fresh (18 months?).
They just got there- after years of nothing..... Give them some time
The old Board are no longer in place. Livesey was voted out by Anderson at the AGM, so he could gain control, and Brown resigned the same day. The new Board have been in place and in charge since the day of the AGM. Not a peep out of them…
The Management are working their notice.
Im quietly adding under 1. I expect the current board are doing very little and will just be "working" out their notice. The new board will no doubt be lining up the ducks for a RTO or similar
The current board - that resigned - "will complete their duties on the 31st of December 2021"
With that in mind, I think you may be right regarding not hearing anything this side of Christmas unfortunately.
I think we may slip back to 0.8 support line in the meantime. Not that it makes any odds as nobody is trading this whatsoever at the moment.
GLA
OHH why have LSE changed the way discussion boards are presented, this is almost like what iii did a few years ago ( tho not as bad) .... you don't fix something that is not broken!
Think all are expecting too much from Mr A too soon ...I don't know him- just met him at AGM. He talks sense..Give him time ....gave last crowd 20yrs...& nothing..Fingers crossed for the future ...ORM used to be 17p once drifted and drifted took years to reach 1p...With the fight deal it should come back
There can't have been too much for the old BOD to handover following their departure. Shareholders deserve an update soon and shouldn't have to wait until next year to find out what the plan is!
flundra, I think we will be lucky if we hear anything this side of Christmas, unless it is just the BoD telling us which of Andersons other companies have taken the cash out of Ormonde.
I think we are entitled to hear something substantial about the plans for ORM and any new projects very soon, so come on BoD! Let’s be having you, and a decent RNS and SP rise. I also think the honeymoon period for this new BoD should be short. Copper prices are shooting up, and it was Anderson’s refusal to approve issuing equity that prevented the ROC copper deal, put together by the previous BoD, from proceeding. That project and the ORM SP should have been flying by now, so Anderson and the new BoD owe us shareholders a good plan B in short order. There’s a huge question mark over Timmons particularly imo, an Anderson nominee and now the only surviving BoD member from before. WTF was he doing sitting on the previous BoD pursuing ROC, whilst effectively knowing it was doomed all along!