Ormonde Mining Plc Share Price (ORM.PL)

Ormonde Mining PLC - Dublin-based natural resources company with assets in Newfoundland and Scotland - Says its 36%-owned investee TRU Precious Metals Corp intends to carry out an exploration project this spring and summer at its Golden Rose project in Newfoundland. Exploration will focus on assessing the critical minerals potential associated with the deposit-bearing Cape Ray-Valentine Lake Shear Zone. Executive Chair Brian Timmons says: "Not only does Golden Rose have high-grade gold discoveries along the same structures as nearby deposits, but it is also highly prospective for copper and other critical minerals. With a number of large gold companies seeking to diversify their exposure through copper, we believe this multi-mineral resource focus will make Golden Rose even more attractive for M&A in the future."

For gold and perhaps nickel. The Tru position is gaining value weekly. The Peak position we know little about. Whether we ORM holders stand to gain depends on ORM management not repeating abject failure to deliver as flunda has said.

I think cash should be around €1m less outgoings with a further €1m to come from la zarza deferred consideration.

Presumably ORM will participate in PN's funding rounds this year.

The sharp rise in gold price should also continue to benefit Golden Rose/TRU.

The ORM mcap is £1.18m, less than the €2m cash figure, and nothing re PN or the TRU shareholding (market value approx £900k).

So ORM's a bargain on one analysis. Both projects look good to me, but it's got to be weighed against ORM's history of abject failure to deliver and value destruction. They really do have the reverse midas touch.

Curious then that Ormonde have not announced anything, given decent results are now public and there is talk of increased resource.

I can only phone H&L to trade no online dealing.