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IN BRIEF: Ormonde Mining looks towards "further exciting investments"

Tue, 27th Jun 2023 21:09

Ormonde Mining PLC - holds 20% stake in battery metals explorer Peak Nickel Ltd - Pretax loss in 2022 narrows to EUR1.1 million from EUR1.6 million in 2021. Records no revenue in 2022, just like in 2021. "During 2022 and the first part of 2023, the board has delivered on extracting value from legacy assets to boost the group's balance sheet and commenced its proposed strategy of leveraging this strong balance sheet to generate new value enhancing deals for shareholders," Chair Brian Timmons says. "The sale of the La Zarza assets and subsequent investment into Peak Nickel Ltd represent the first steps in shareholder value creation and provide the platform for further exciting investments in prospective mining jurisdictions. The board continues to advance discussions with interested parties to move onto the next stages of this strategy."

Current stock price: 0.75 pence

12-month change: up 20%

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

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