Member Info for BarneyR

Thanks wyt3fr0g. I'm actually okay on ORM and haven't lost any money. I originally held 1.5m and sold 1.2m whilst in the blue. I lost trust a couple of years ago and have been bailing out ever since keeping 300k just incase they managed to pull the deal off. I had a hunch it was going to fall over so I sold 200k last week. I always keep a little back just in case I'm wrong!
I feel for everyone in the red on this. It is truly horrific. I have no intention in topping up. There are better investments out there. I'm not going to say IMO because in ORM's case it's true. Shambolic company with an incompetent BOD, and a seemingly obstinate 'main' shareholder who was prepared to take a hit at the expense of others. The company is toxic.

Hi wyt3fr0g. Ignore the trade ticker. I sold 2 x 100k last week and neither trade appeared leaving myself with my final 100k. There is a history of this happening for both buys and sells.
The decision has to be judged on your faith in ORM's Board of Directors. I have none. The facts do not lie. Read the company accounts. Failure after failure since 2015. Over £30m in accrued losses. Market Cap of c.£5m even after today's price fall is still more than ORM has left in cash. I'm amazed it hasn't dropped 1p!

"Ultimately the counterparties demanded more onerous terms for the Proposed Transaction, which significantly impacted the accretive potential of the Proposed Transaction for all Ormonde shareholders."

Looks like my gut feeling was right after all!! This is a bull**** statement from ORM. The counterparties did what any good negotiator would do. Sell for the best price! ORM never had the upperhand in this negotiation. Not with a falling share price.
I'm so pleased I didn't top up this morning.
This is not a blessing MU345. It's a reality check. The company is crocked and the Board should be sacked.

Hmmm. I can buy 200,000 through Barclays Smart Investor at 1.3699p this morning!!

Hey cekim / andecc. I have accounts with both HL and Barclays (Smart Investor) and have always managed to get quotes for smaller sizes (50k or less) in ORM. Anything more in terms of volume is from time to time an 'at best', trade which in fairness has always turned out to be reasonable when looking at the Level 2 bid and offer prices.
Haha. I definitely fell for the April Fool!! ;)

It's a really good question Ecologist. I'm in my early 50s. Both my kids are in early to mid 20's. Whilst they are not averse to ordering a take away, they have both said they can't wait to go out to proper restaurants with friends. Although there is clearly a market for young people who are quite happy to sit on their behinds and scoff food in takeaway containers, I just can't see it becoming a 'growth' area. Especially now. One year of being locked in, surely they'll be knocking walls down to enjoy a meal with friends outside!! I'd rather invest in a restaurant chain than a take away / delivery service over the next 6 months.

I don't think so ZagEgypt unfortunately. ROO didn't make a profit before the lockdown.
Perhaps more worrying is they didn't even make a profit during lockdown - when the competition ('eat in' restaurants) had been forced to close. Once restaurants re-open things will only get worse for them. After the restrictions are lifted, would you rather go to a restaurant with family and friends (when it is safe to do so) or will you continue ordering take aways to your home?! From my perspective my family have no desire to remain hermits. 1 year has more than enough!! In 6 months time we should be a lot closer to the old 'normal'. And so ROO's business model is crocked. Like others have said, this is a strong sell - even at today's levels.

Morning all.
It's a shame CFEP buckled this morning but as the last MM standing at 1.4p I guess they had no choice.
Legalwolf. Good rationale which I share. I am down to my last 125k (from my previous 300k). None of my sales appeared on the ticker board which I find really strange - but not unusual it seems. I could buy in for less than I sold for now, but the 15.38% spread is putting me off. I only sold because I'm expecting good news for one of my other stocks ahead of the ISA deadline - not because I'm expecting the ORM deal to fall though.
A question for jbstandard please. In the 20 years you have held ORM shares have they ever made a pure trading profit based on mining alone? My next question would be in 20 years have they ever made a profit including disposals? They haven't for me in the last 5 years hence the questions. Many thanks. BR

Hi GP. Haha. I was enjoyed the weather yesterday. Even managed to dine al fresco!
I agree with your assessment of what constitutes an unreasonable delay, given the small size of the company. After all, how many months does it take to have a discussion with a single shareholder? It's not like they have huge pension funds to contend with but hey ho!! The majority here are expecting positive news come 18th April. Happy to wait now for whatever news may come!!
Cekim. It looks like CFEP held up the bid price thankfully. The remaining MM's have a different view (below) otherwise it would have been another red day. I hope no one here applied for Deliveroo shares. What a tanking!!! £2bn off the market cap on the first day of trading!! Their message board makes interesting reading!!

Have a good evening all.

16:51 CFEP 0 1.4
16:51 DAVY 0 1.3
16:45 MREX 0 1.3
16:55 PEEL 0 1.3
16:50 SCAP 0 1.3
16:57 WINS 0 1.3

Wow jdstandard!! With 20 years of patience, you should change your User ID to 'Saint' jdstandard!? I don my cap to you! :)

Thanks andecc. To have one or two underperformers isn't a disaster. Your portfolio is nicely diversified. Mine used to be but I went 'top heavy' into crypto (currencies, miners, blockchain) 6 months ago and have been topping up ever since. Well done on your BTC gain. It looks like it has a lot further to go! HODL! ;)

I whole heartedly agree with everyone's stance on patience. Mine has been a 5 year journey of patience which I suspect is longer than most on here. The part I really have an issue with is the lack of communication after intense urgency in January. This, together with previous failed projects, turned me bearish on the stock a couple of years ago. I now only hold 100k of my original 1.5m. My most recent sales have not appear on the ticker board for some reason!

Hi GP. I am also involved in business, which is why this may frustrate us more than others.

For those still hanging on, I hope ORM give everyone a well deserved Easter surprise for your loyalty.

Thanks PAD. No problem at all. I have been one of the lucky ones with ORM, but I feel terrible for anyone here who losing money. I definitely need whatever it is you are taking. Your optimism 'pill' deserves rewarding. I really hope it comes off for you. :)

Hi PAD. I'd say that the majority of people are moaning because anyone who bought at the peak are losing up to 75% on their original investment. There is nothing exciting about losing money. The lack of communication from the BOD (since their initial urgency) has been poor to say they least. Nobody likes uncertainty and that is exactly what we have had for 3 months. All things considered, I think the majority of people on this board have shown immense patience.

Hi andecc. That's strange. Hargreaves Lansdown definitely make a market in ORM. They should permit trades up to 50k volume. Maybe try again (in batches) in the morning!? Good luck with whatever you reinvest in!! I'm staying well away from anything that needs to be mined (apart from crypto)!!

Hi both. I know it's not any consolation, but I'm sure anyone who has invested in shares will have seen some bad losses at some point. 10 years ago I got wiped out on a £20k investment that was meant to multibag. A broker put me into it. I only trust my judgment now and it's based on my own research and gut feeling. Let's face it, ORM has been a disaster. SP rose on the prospects of what might have been - but they never actually materialised. My gut told me to sell the majority (80%) of my holding in ORM (hold some back just in case - FOMO!!) and I got lucky this time. ORM is NOT a hot stock. Volumes are extremely low. Commentary on the chats is low too which is pretty inciteful. My own view is the same as yours. It will be sod's law we sell out and the deal will be announced the next day.
Like Integrale, I think I'll wait another 2 to 3 weeks before selling my remaining shares. Or if the deal is announced before then, I'll sell immediately on the RNS announcement. Hopefully it will bounce to 2.5p to 3.0p - I can't see it going straight to 5p!! If the deal falls through ,SP will be sub 1p again! IMO obviously!!

I feel for you Cekim. Integrale is right though. As hard as it is to take a loss, there will be far better opportunities to invest our money elsewhere. I will be selling my remaining holding after the new tax year, irrespective of whether this deal goes through or not. For one simple reason. I have lost faith in ORM's management team. There are other shares in my portfolio I am so much more excited about. I'll be switching my ORM money into one of those. Depending on how much you have left, it may be worth punting it on something high risk high reward in the crypto world. It will be no more risky than holding ORM. There are some incredible businesses destined to multibag over the coming months and years. As I have said before, even if ORM manages to get the licences I do not have any confidence the project will be profitable. They are so far away from being cash flow positive I'd be gobsmacked if they don't need to do a fund raising before revenues start to flow in. Shareholders have been treated with contempt in my view. Even if they manage to get this deal over the line, it won't change my perception of the company. Not impressed at all.

LegalWolf. To be honest I hadn't even thought about the deal being dead. I'm not sure what the protocol is for notifying shareholders with regards to timing. They are only too aware of what it will do to the share price once declared. It will drop like a lead balloon. I'll try to refrain from being cynical and hope they are still trying to push it over the line.

Hi PAD. It looks like it make have been a simple booking error. The sales still went through. The volumes are extremely low.
ORM Live Trades
Time Trade Price Volume Value
10:05:03 1.50 217,323 3,260 S
10:05:03 1.50 -217,323 -3,260 C
10:13:08 1.40 833,847 11.67k S
10:13:08 1.40 -833,847 -11.67k C
16:23:39 1.509 31,062 468.73 S
12:33:38 1.515 3,037 46.01 S
12:25:24 1.518 157,777 2,395 S
12:14:33 1.40 250,000 3,500 S
10:13:08 1.40 833,847 11.67k S
10:45:57 1.539 136,141 2,095 S
10:43:08 1.545 52,444 810.26 S
10:05:03 1.50 217,323 3,260 S
09:23:20 1.5275 54,450 831.72 S
09:00:58 1.57 51,914 815.05 S
08:37:57 1.50 34,459 516.89 S

Haha HeresHopin. :)) Me laugh that properly made. A good day all have!!

Hi GP. Happy Monday to you and all other ORM holders on this sunny day. :)
I love your positivity. Haha. If it suddenly hits 7.5p for some inexplicable reason you wouldn't see me for dust!! ;)
I totally agree with Legalwolf. I think ORM became a punt in February when the deal didn't go through. I am now concerned about the burn rate which reduces our bargaining power the longer this goes on. If the Licence Holders are aware of this (which I'm sure they are), it is they who have the upper hand unfortunately.

Just checked. Looks like downward pressure today - so far at least!!
Today's trades are predominantly sells - 2 at 1.4p, lower than the published bid price due to volume size (over 50k).
ORM Live Trades
Time Trade Price Volume Value
12:33:38 1.515 3,037 46.01 S
12:25:24 1.518 157,777 2,395 S
12:14:33 1.40 250,000 3,500 S
10:13:08 1.40 833,847 11.67k S
10:45:57 1.539 136,141 2,095 S
10:43:08 1.545 52,444 810.26 S
10:05:03 1.50 217,323 3,260 S
09:23:20 1.5275 54,450 831.72 S
09:00:58 1.57 51,914 815.05 B
08:37:57 1.50 34,459 516.89 S

Level 2 view: Only one broker is bidding 1.5p now. 3 offering 1.4p. Spread widening which is never a good thing as we know.
Seems the trend is downward ,unless of course ORM make a positive announcement soon.
Bid
07:54 CFEP 50,000 1.5
07:51 DAVY 50,000 1.4
12:14 SCAP 50,000 1.4
07:49 WINS 50,000 1.4
07:50 MREX 50,000 1.3
07:59 PEEL 50,000 1.3

Offer
1.6 50,000 SCAP 12:14
1.7 50,000 PEEL 07:59
1.8 50,000 DAVY 07:51
1.8 50,000 MREX 07:50
1.9 50,000 WINS 07:49
2 50,000 CFEP 07:54