Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen 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 Notes Barruecopardo Higher Grades And Waste Stripping Progress

Fri, 20th Sep 2019 11:56

(Alliance News) - Ormonde Mining PLC on Friday said tungsten grades at the Barruecopardo mine in Spain have improved and there has been "significant progress" on waste stripping at the project.

Shares in Ormonde were up 19% at 2.62 pence in London shortly before midday.

Right now, Barruecopardo is in its first-year ramp-up phase. The mines it operated by Saloro SLU, with Ormonde's beneficial interest being 30%.

So far, ore grades have improved as mining at the southern starter pit has moved down into fresh ore, as well as closer to the main orebody. In addition, waste stripping at the east-wall cutback has progresses well and it is now expected that access to the main orebody will be achieved in the fourth quarter of 2019.

In order to fund the project, Saloro is finalising a 12-month loan facility of EUR10 million with Oaktree Capital Management.

Ormonde Chair Michael Donoghue said: "While still early in the ramp-up phase, it is encouraging to see that tungsten grades in the Mine have been improving, and that the waste stripping required to allow Saloro access to more continuous and higher grade fresh tungsten ore, in the main orebody, has seen significant progress. "

In addition, there has been a sale of large stocks of ammonium paratungstate, a precursor to most tungsten projects, "to a single Chinese tungsten company at market prices" via the now-closed Fanya metals exchange in China.

"The recent, successful auction of Fanya APT stocks, and reported tightness of available tungsten material for prompt delivery, are leading to improved market sentiment, which may prove both timely and positive for Saloro as it continues to ramp up operations," said Donoghue.

More News
5 Dec 2023 20:01

EARNINGS AND TRADING: Lowland Investment NAV falls but dividend hiked

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Read more
12 Oct 2023 14:29

IN BRIEF: Ormonde Mining notes report by investee Tru Precious Metals

Ormonde Mining PLC - holds stakes in Toronto-listed gold and copper explorer Tru Precious Metals Corp, which has a project in Newfoundland, Canada, and in battery metals explorer Peak Nickel Ltd - Notes report by investee TRU, which on Wednesday announced it had begun its Golden Rose exploration project in the highly prospective Central Newfoundland Gold Belt in Canada.

Read more
29 Sep 2023 12:32

EARNINGS: i(x) Net Zero swings to profit, Zephyr falls to loss

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:

Read more
6 Sep 2023 18:28

IN BRIEF: Ormonde buys stake in TRU Precious Metals for CAD3 million

Ormonde Mining PLC - focussed on the evaluation and execution of new opportunities - Completes its investment in Toronto-listed exploration company TRU Precious Metals Corp, which is exploring for gold and copper in the highly prospective Central Newfoundland gold belt in Canada. Takes an initial 36% interest in TRU's through a private subscription for 60 million shares of TRU at CAD0.05 per share for a total CAD3 million. Ormonde has the potential to increase its shareholding to up to 46.0% through the exercise of warrants.

Read more
4 Sep 2023 11:49

IN BRIEF: Ormonde Mining starts trading on AQSE, switching from AIM

Ormonde Mining PLC - holds stakes in Toronto-listed gold and copper explorer Tru Precious Metals Corp, which has a project in Newfoundland, Canada, and in battery metals explorer Peak Nickel Ltd - Starts trading on Aquis Stock Exchange in London on Monday, its shares having been suspended from trading on AIM in London and the Euronext Growth market since February. Ormonde shares will be cancelled from AIM and Euronext on Tuesday. Notes that Thomas Anderson holds 24.99% of its shares upon admission to AQSE.

Read more
18 Aug 2023 15:46

UK shareholder meetings calendar - next 7 days

Monday 21 August 
Calculus VCT PLCAGM
Home REIT PLCGM re changes to the investment policy
Tuesday 22 August 
Cake Box Holdings PLCAGM
ReNeuron Group PLCAGM
RUA Life Sciences PLCAGM
Smoove PLCAGM
STM Group PLCAGM
Wednesday 23 August 
Brandshield Systems PLCAGM
James Latham PLCAGM
LifeSafe Holdings PLCGM re shareholder circular
Momentum Multi-Asset Value Trust PLCGM re appointment of the liquidators
Sovereign Metals LtdGM re share placement options
Thor Energy PLCGM re proposed share consolidation
Thursday 24 August 
Ananda Developments PLCAGM
Concurrent Technologies PLCAGM
CyanConnode Holdings PLCAGM
Nuformix PLCAGM
Oryx International Growth Fund LtdAGM
ThomasLloyd Energy Impact Trust PLCAGM
ThomasLloyd Energy Impact Trust PLCGM re market purchases of its own ordinary shares
Friday 25 August 
Honye Financial Services LtdAGM
Iconic Labs PLCAGM
Ormonde Mining PLCAGM
Ormonde Mining PLCEGM re AIM delisting and proposed investment in TRU Precious Metals Corp
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
27 Jul 2023 21:53

TRADING UPDATES: Ormonde eyes AIM exit; Online Blockchain tests AI app

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
30 Jun 2023 21:45

IN BRIEF: Ormonde Mining acquires stake in Canadian miner TRU

Ormonde Mining PLC - focussed on the evaluation and execution of new opportunities, currently holds 20% stake in battery metals explorer Peak Nickel Ltd - Announces proposed investment in Toronto-listed exploration company, TRU Precious Metals Corp. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt in Canada. Ormonde is to buy an initial 36.2% interest in TRU through a private subscription for 60 million shares of TRU at CAD0.05 per share for a total consideration of CAD3 million. Potential to increase shareholding to up to 46.0% through the exercise of warrants.

Read more
27 Jun 2023 21:09

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

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."

Read more
8 Feb 2023 19:26

TRADING UPDATES: Diversified plans fundraise; Highcroft ends sale

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
7 Feb 2023 19:37

TRADING UPDATES: Ormonde Mining acquires stake in Peak Nickel

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Read more
3 Oct 2022 14:31

IN BRIEF: Ormonde becomes cash shell on sale of La Zarza project

Ormonde Mining PLC - cash shell, former Dublin-based mineral resource company - Completes the sale of its land, data and drillcore assets at its La Zarza project. La Zarza is a copper, gold and zinc mine located in Andalucia, Spain. The assets have been sold for EUR2.3 million in cash to La Zarza Mineria Metalica SLU a subsidiary of Tharsis Mining SL. Ormonde says it has now received EUR800,000 with the balance to be paid in three equal payments of EUR500,000 on the first, second, and third anniversaries of completion.

Read more
28 Sep 2022 16:41

Ormonde Mining to become cash shell after sale of La Zarza project

(Alliance News) - Ormonde Mining PLC on Wednesday said it will become a cash shell, following the completion of the sale of its interest in the La Zarza Copper-Gold project for EUR2.3 million.

Read more
28 Sep 2022 15:29

Ormonde upbeat as it prepares for cash shell status

(Sharecast News) - Ormonde Mining said in its interim results on Wednesday that it was reviewing acquisition and investment opportunities across a number of jurisdictions.

Read more
21 Sep 2022 15:57

UK shareholder meetings calendar - next 7 days

Thursday 22 September 
Begbies Traynor Group PLCAGM
Ecofin Global Utilities & Infrastructure Trust PLCGM pre-emption rights
IG Design Group PLCAGM
Liontrust Asset Management PLCAGM
Oberon Investments Group PLCAGM
Odyssean Investment Trust PLCAGM
Rockwood Strategic PLCGM trading on the Premium Segment
Trakm8 Holdings PLCAGM
Worsley Investors LtdAGM
Friday 23 September 
Accsys Technologies PLCAGM
Biffa PLCAGM
Bradda Head Lithium LtdAGM
Fusion Antibodies PLCAGM
In The Style Group PLCAGM
Safestay PLCAGM
Wise PLCAGM
Monday 26 September 
Babcock International Group PLCAGM
Eastinco Mining & Exploration PLCAGM
Eckoh PLCAGM
ECO Animal Health Group PLCAGM
Great Eastern Energy Corp LtdAGM
Lamprell PLCEGM re delisting
Mediclinic International PLCCourt & GM re takeover by Remgro, SAS
RPS Group PLCGM cash offer agreement
Tuesday 27 September 
Bens Creek Group PLCAGM
Cohort PLCAGM
daVictus PLCAGM
Downing Four VCT PLCAGM
Empyrean Energy PLCAGM
First Property Group PLCAGM
GRC International Group PLCAGM
Incanthera PLCAGM
Knights Group Holdings PLCAGM
Miton UK MicroCap Trust PLCAGM
Redde Northgate PLCAGM
Smoove PLCAGM
Spectral MD Holdings LtdAGM
TP Group PLCGM re annual report
Yourgene Health PLCAGM
Wednesday 28 September 
600 Group PLCAGM
Aberdeen New India Investment Trust PLCAGM
Amigo Holdings PLCAGM
AO World PLCAGM
AssetCo PLCGM re authority to repurchase shares
Baltic Classifieds Group PLCAGM
DWF Group PLCAGM
Enwell Energy PLCAGM
Intercede Group PLCAGM
Kainos Group PLCAGM
Kromek Group PLCAGM
NWF Group PLCAGM
Ormonde Mining PLCGM sale of La Zarza Landholding
Oxford Cannabinoid Technologies Holdings PLCAGM
Scholium Group PLCAGM
System1 Group PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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.