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Should get news soon?
Are you having a laugh,keystone cops spring to mind.
Not in the slightest bit unfair, these jokers jumped ship from a business they can now only dream of participating in. I'm sure your brother is keeping you well informed on the next fantasy mining punt, which should keep shareholders at bay until the next AGM.
A little unfair don't you think! These things take time-SHOULD GET SOME NEWS SOON
I'd settle for being a part owner of a tungsten mine. See the bod are playing a blinder on spending the proceeds of Barruecopardo on themselves. Just four more years until the pot is empty.
Copper price flying :(
Shame we're not in a decent copper project...
I took some more yesterday and will take your spread % into account. I’ve only an instinct but I’m hopeful and will add in time. Thanks.
Actually looks pretty cheap at the moment, compared to assets and cash, and if it does turn out that Anderson blocked the deal because it was a bad one it could turn out to be a real blessing. Spread is a bit wide to buy at the moment but I may buy more if it drops a bit.
Do you think they will even bother telling us?
ROC’s ancient history now, but I fear Anderson might have stopped a good deal here, rather than saved the day. I think the suggestion is that the 2014 report figures might be unreliable because the AIW chairman at the time (P Landau) has a reputation. Perhaps, but it doesn’t necessarily follow, and Anderson’s not exactly known as a saint either. And the ORM deal collapsed because the sellers/licence holders wanted IN (not OUT), or a higher price. That suggests a good asset, and moreover ORM’s DD will have gone well beyond just reading that report. Also, copper demand/price has risen strongly to a 9 year high, and is widely forecast to go higher still - the dynamics have become very positive. Right commodity, potentially excellent asset and risk-sharing deal structure, but…
….all history, so onwards and upwards with something else now.
IMO the important Qs now are what’s Anderson’s agenda or plan, and are he, management and the bod capable of aligning their interests and pulling together, or alternatively do the bod have a plan B Anderson can't disrupt.
SP rise surprised me, it was all doom and gloom after the deal collapsed and now i have read it could be a blessing. God only knows where this is going.
Not sure what I'm more surprised at...lack of posts or the rise in SP :-)
Surprised at the lack of posts the last few days considering the SP has risen.
Maybe
Something brewing - up 17.65%
Agree with the comments. Did my own research a while ago on the drill results in the Congo. If it was such a hot deal it would have been snapped up by others.
FWIW-I put in a large buy yesterday before 9am. Never showed up (anywhere). I wonder how many others there have been?
What I like about this company is the majority stake by Anderson, money in the bank, assets that have value, migration completed and all in all, interesting times ahead for ORM. What I do not like about this company-the lack of BoD engagement with investors, the repeated claims of shareholder value being their goal with zero results on this front. Time for a shakeup imo.
Some interesting commentary over on the A@VFN bulletin board as to why the Congo deal may not have been a good one, probably why Anderson effectively blocked it.
Maybe a blessing in disguise, buyers are hoovering up the cheap shares.
Blue day, this is going to the moon. LOL
The market is bidding hard for stock currently, is Anderson increasing his stake further, looks like it.
Brian Timmons has to be a key character in all this, presumably the man with Anderson’s ear, and who is Anderson’s nominee/voice at bod level.
25/6/20 RNS
Ormonde announces the appointment of Mr. Brian Timmons to its Board of Directors (the "Board"), as a non-executive director, on 24 June 2020. Mr. Timmons' appointment is at the request of the Company's largest shareholder and the Board believes that Mr. Timmons can add perspective to the Board as it seeks to develop its business.
So what’s Timmons’ perspective, and what happened with ROC? Did the bod go too far with the deal too fast? Did Timmons encourage the bod to do this, confident he’d deliver Anderson’s res 6 vote, but then failed to do so? Or did the rest of the bod (and who in particular?) persuade Timmons to go along with ROC despite Timmons urging caution because of Anderson’s stance? Or were some or all of the bod too gung h o, wrongfully convinced a cash deal was achievable? And what of Anderson himself, we can still only guess at his agenda - does he blow hot and cold perhaps, or is there a masterplan? Who else is influential here, Carroll still maybe? Gardiner?
ORM TA and the bod need to get their collective act together, and pull together in the same direction. All bod members carry some degree of responsibility for this latest ROC debacle. I wouldn’t want to see a mass bloodbath, but I suspect there’s a key villain or villains here.
I'd agree with the waiting patiently ivans, uncertainty as it is and delays in the process of project hunting makes me think the mm might not want the bid too high for a while, particularly with TA's 20% a chunk of which bought in the 0.7's
Might let the dust settle
Have added this morning, will continue to build a position, this has become a very interesting proposition for a number of reasons. £4m cash is one of them.
time to top up and wait patiently.
i bought KIBO when sp unloved around 0.2p and still holding
EOG around 1p and still holding
you need to buy low and sell high.
Thanks for your insight i might get some sleep tonight. Lol
It's not a lost cause, far from it. Migration complete which is a huge plus (and it still dropped). Money in the bank, assets that can be sold etc.
Yes, well overplayed but that's AIM. This is a firm hold/ buying opportunity. The trick is knowing where the bottom is though....
Mad to sell at these levels and indeed looking at the low volume others think the same.
Do you think there is still hope to turn this around or a lost cause
Well when the tungsten mine went tits up it collapsed to half a cent and stayed there for ages. were essentially back at that place now as a company so dont be surprised if it goes to 0.7 or so in the next few days.
IMO were prob gonna stay around the cent mark till news breaks of whatever Anderson is up to with the company as its clear now its his baby.
then itll go back up like it did on the back of the congo deal. where after that depends on how attractive the newer venture is.
oh for the days when almonty wanted to buy us for 6c eh?
:D