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Resources round-up: Firestone Diamonds, Edge Resources, Ormonde Mining

Tue, 16th Oct 2012 15:00

Firestone Diamonds jumped 12.9% after the firm reported it had discovered very rare 'type 2' diamonds at its Liqhobong mine in Lesotho. Type 2A diamonds - of which the company found 28 - make up less than 2% of all diamonds and are considered the purest of all diamonds. One of the diamonds found - a blue type 2B - is considerably rarer than that. The company also reported that a 27 carat, fragmented stone was recovered in September, and when reconstructed appeared to have originated from a stone in excess of 200 carats.Edge Resources rose after it said a regular interim review of its borrowing facilities with the National Bank of Canada had resulted in no changes to any of the terms or conditions of the company's existing borrowing facilities. The company also said it had spudded the first of two wells in Grand Forks, Alberta. The firm's shares rose 3.9% following the announcement.Ormonde Mining was up 3.6% after tests showed near-surface mineralisation on the northern part of its its Barruecopardo Tungsten Project in Spain was thicker and better developed at depth. The firm said this demonstrated the potential to expand mineral resources at the site. Ormonde said it would focus on a more targeted resource expansion after it began mining activities at the site.Europa Oil & Gas plunged 12% after analysts questioned what the company would do next having revealed it had a net cash balance of just £0.2m. They are worried that amount gives the firm no leeway to carry out exploration activities. The company saw revenue up 34% to £5.1m, but posted a net loss of £11.3m after exploration write downs.Landore Resources said drilling had re-commenced on the western section of its Scorpion Zone in Eastern Canada, where it is targeting a "massive sulphide mineralisation" below and to the west of the existing deposit. It said two completed drill-holes had successfully intersected significant mineralization. Assays are pending. Shares were up 2% on the news.New World Oil & Gas said drilling at its flagship Blue Creek Project in Northwest Belize was on schedule and under budget. The firm said it would be in a position to judge whether it had made an oil discovery by mid-November. It added that its Danica Jutland and Danica Resources projects in Denmark were proceeding according to plan and the company expected to announce updated Competent Person's Reports for both projects in the fourth quarter of 2012.MM
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5 Dec 2023 20:01

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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.

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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:

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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.

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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.

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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.

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27 Jul 2023 21:53

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

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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.

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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."

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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:

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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:

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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.

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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.

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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.

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