The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksORM.L Share News (ORM)

  • There is currently no data for ORM

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Ormonde Mining Says Barruecopardo Mine Prepares Further Tungsten Sales

Mon, 25th Nov 2019 15:33

(Alliance News) - Ormonde Mining PLC said Monday the Barruecopardo tungsten mine in Salamanca, Spain is preparing for further sales as its ramp-up phase continues.

The company said sales of 20-tonne tungsten concentrate shipments to international buyers have been recently concluded, with further containers being prepared for imminent sale.

The mine is designated to produce 260,000 metric tonne units of tungsten trioxide contained in concentrate per year when ramp up is complete and the mine is in full production.

Michael Donoghue, chair and interim managing director, said: "The completion of initial tungsten concentrate sales from Barruecopardo tungsten mine to international buyers represents an important milestone for both Saloro and Ormonde."

On mining progress, Ormonde Mining said initial access to the south end of the main orebody has been delayed due to the discovery of "old, backfilled, undocumented mine workings within the southern starter pit".

The high-grade tungsten mineralisation had been expected at the south end of the main orebody, the company noted.

Ormonde said mining has reached the base of these workings at their southern end and ore grades from this initial exposure of the main ore-zone are now expected to improve accordingly.

Ormonde shares were down 1.6% in London at 2.31 pence each on Monday.

By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
13 Apr 2015 07:22

Ormonde Mining Makes Progress On Barruecopardo Project Financing

Read more
11 Mar 2015 12:19

UK MIDDAY BRIEFING: New Kid Hikma Pharma Warns On Dollar Rise

Read more
11 Mar 2015 11:35

UK WINNERS & LOSERS: Domino Printing Jumps 31% On Deal To Be Acquired

Read more
11 Mar 2015 11:17

UPDATE: Ormonde Mining Gets Takeover Offer From Canada's Almonty

Read more
11 Mar 2015 11:13

Ormonde Mining soars on conformation of Almonty bid

Spain-focused tungsten miner Ormonde Mining has confirmed it received an unsolicited takeover offer from Canadian group Almonty Industries. Ormonde Mining said it received "an unsolicited indicative non-binding proposal" from Almonty on Tuesday night, but bemoaned a lack of detail as to how the nece

Read more
11 Mar 2015 08:37

Ormonde Mining Trading Up On Almonty Takeover Approach

Read more
18 Feb 2015 08:25

Ormonde Mining Finalises Barruecopardo Funding Package With Oaktree

Read more
29 Sep 2014 10:27

Ormonde Loss Widens, But Nears Mining Concession For Tungsten Project

Read more
21 Aug 2014 08:47

Aurum Mining Shares Fall On Discounted Share Placing

Read more
18 Aug 2014 10:51

Aurum Mining Manages Costs Tightly, Reins In Annual Loss

Read more
15 Jul 2014 11:08

Ormonde Mining Step Closer For Barruceopardo Permit

Read more
11 Jun 2014 11:28

Ormonde Mining Pretax Loss Narrows On Lower Write-Off Costs

LONDON (Alliance News) - Ormonde Mining PLC Wednesday said its pretax loss narrowed significantly in 2013 as the write-off of exploration costs was reduced as the company moved towards achieving its mining concession for the Barruecopardo tungsten project in Spain. The tungsten mining expl

Read more
29 Apr 2014 11:28

Ormonde Mining Sees Positive Studies At Barruecopardo, Expects Delay In Permitting

LONDON (Alliance News) - Ormonde Mining PLC Tuesday said an independent review has shown positive fundamentals for the Barruecopardo project in Spain but the permitting process for the site has been delayed. The tungsten mining exploration and development company said the independent review

Read more
4 Apr 2014 13:20

Ormonde Mining To Raise GBP2.0 Million In Placing

LONDON (Alliance News) - Ormonde Mining PLC Friday said it is to raise GBP2.0 million before expenses in a 50 million share placing, as it looks to begin developing its flagship Barruecopardo Tungsten Project. Each share is priced at 4 pence. Ormonde Mining shares were Friday quoted a

Read more
24 Mar 2014 13:15

UK MIDDAY BRIEFING: Centamin Soars As Production Beats Expectations

LONDON (Alliance News) - Metals and minerals producer Centamin is leading the FTSE 250 index Monday despite reporting a hit to pretax profit in 2013, due to a large exceptional cost, but a significant increase in revenue and production.

Centamin said pretax profit f

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.