Member Info for Broomfielder

Before the 'artificial' share consolidation a few years ago (to make the shares more appealing to II's etc), todays price is equivalent to 16p against a Nominal value of 25p.
The 1:10 consolidation (and the hike in Nom. Value to £1) clearly hasn't worked and to me its always been better to view RBS as the penny share it really is.
As others have said, who knows where the bottom to this cycle will be but one thing is for certain that once the economic effects of Covid 19 really kick in, Banks will inevitably suffer further.
And thats ignoring Brexit for a moment - anecdotally, I am aware of many Cos already exhausting their stock piles for Brexit due to Covid 19 and supply chains are only beginning to breakdown.
I've lost more than enough money on this share, but it looks as if I'm losing some more. And we're not finished yet.
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Absolutely right bbr - this would be a perfectly reasonable expectation of a BoD in a Public Co., even one listed on AIM.
However, the BoD's cynicism is exposed by their ongoing silence despite the PR blurb contained within the 2018 Audited Accounts when they waxed lyrical about adoption of the QCA Code (which outlines and underscores the need for and the steps that should be taken to enshrine involvement with stakeholders etc.).
........what a bl**dy joke!
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Whilst we all hope this is not a rerun of 2008/09, the collapse of the SP (of almost 25%) in little more than 2 weeks, has once again given lth in particular that uneasy feeling the falling knife has quite a way to go yet before it hits the floor.
Never mind, we have A Rose and a soon to be rebranded name to get us out of the quicksand. Oh, no doubt its not anyone's fault here, its simply that nasty coronovirus which after all, no-one in the Bank could have foreseen.
Never mind, in a couple of weeks the SP should tick up - just before the collapse should resume once it goes ex-div.
Yes HM Gov are desperate to sell their remaining holding to shore up their post Brexit plans, so the Market is well aware etc. that disposals will happen sooner than later.
And everyone thought it such a bargain when the SP approached £2.........
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To be fair, we recognise the need to network and this event is a biggy, but you don't conduct negotiations with a drink in your hand (......well, not best advised), so our BoD had better have something to say fairly soon on what the future may hold.
I am well aware these things take time but shareholders need to be kept informed, subject to the constraints on insider info etc.
At least with €6m in their back pockets, they shouldn't be short of potential suitors at PDAC.
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Thats the real issue for the Newbies in search of a quick buck - and I don't blame anyone for trying etc- its once you do the most basic research, they must realise that despite all the positives now in place for Orm, the guys at the helm don't seem capable of charting a safe passage in open waters never mind dodge the icebergs in todays commercially hard nosed world.
I've been hoping for a takeover of Orm for some time or a merger with a party that has a proven track record etc.
Wishful thinking no doubt.
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From the Co's updated website, their sketched out options for future development recognises at least that cash is in very short supply within the junior resource sector which should certainly provide better than normal opportunities to maximise any investment.
I would certainly favour a split of investments among hopefully an income generating asset be it by way of JV or otherwise as well as the hinted acquisition of virgin land for exploration.
Properly structured deals at the right sort of prices must present the much maligned BoD with their chance for redemption. Lets hope they take it...........well perhaps maybe Etc!
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Fairly difficult to understand why anyone would want to buy more than £6k of stock in Rur.
Irrespective of what view you may have of our BoD, the fact remains shareholders have not got any idea of what is actually going on with our Co and whether or not there is any realistic chance of getting any monies out of Argentina, even assuming there are any.
Oh, all a bit like our phantom assets.......together rather a cautionary tale for potential investors in AIM Cos I would have thought.
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To be honest didn't see SP dropping this far (0.65).
Getting to levels where another Spanish gold operator will stick in a cheeky offer of 1.25p and probably get it easy for that price.
Next best thing is for Orm to invest in a JV Partner that knows what they are doing!
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With the terms of Oaktree's offer (to settle within 5 days after Ormonde have achieved shareholder approval etc), and with the USD strengthening v the Euro, we really shouldn't have long to wait before our Co effectively becomes a cash shell (with the added benefits of 2 gold interests).
Next few days, at most, should do it.
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Hi Trek - just for clarity, I'm in agreement with your stance on this one.
The only caveat I have, is the Co really have to galvanise themselves and really optimise the opportunity market conditions present. Time will tell if they can truly achieve this. Clearly, I think they sill.
All the best.
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I'm new to Byotrol and while IMO it may be no firework stock, it really should be building into the increasing global healthcare awareness brought into sharp focus by the coronovirus crisis and the potential for superbugs generally to wreak havoc with our world today.
We all know there are no guarantees in life and, certainly not in AIM, but today's marketplace for the Company's products provides management with a huge opportunity.
They just have to take it!
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I am slightly surprised at the extent if selling today.
In football parlance, it isn't even half time yet.
Once Oaktree transfer the funds, the contingent risk is removedand then it won't just be traders that will waken up to the discount to NAV.
And with it being hard cash (as well as the Co owning a couple of small gold interests), a few Corporates will also be having a close look I suspect.
I think its fair to say the (positive) effect on the SP will put today in the shade just as soon as Ormonde signal receipt of the €6m (gross).
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You are absolutely right about AIM - I've been investing there for decades, so I know the score.
Orm (and 1 other) were a bit different for me - these 2 go back a very long way - otherwise, in and out in a day if it works.
All the best.
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From the amended intro to the Co website, Ormonde describe themselves as "a reputable natural resource company......".
Unfortunately, I cannot attend tomorrow's EGM in Dublin, otherwise I would be happy to challenge the Co's view of 'reputation' and what that means in their terms.
In my past life, I have dealt with Davy & Co and, from my experience, I rated them highly and indeed were a significant factor in my original decision to invest in Ormonde.
That was cemented by my direct contact with the late Kerr Anderson, Ormonde's true driving force.
However, as we all know, firstly the financial markets moved against the Co, but the real failure came with the Co's inability to manage the development of Barruecopardo successfully.
So, nowhere to run from a professional perspective. You have simply let everyone down.
Just how the Co deal with the Oaktree offer, will determine just what kind of reputation the current Ormonde team actually have.
...........I think most shareholders already know.
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Like previous posters, I wholeheartedly agree that 'backing the right team/people' is absolutely key in driving success.
With Barkby, I dont have any qualms on that score and subsequent Exec appointments have simply underlined tgat fact IMO.
However, where I do admit to some reservation, is on the disparate nature of many of the businesses now under the Group's umbrella. Some do make sense but I struggle with any synergies with others; and I don't buy the 'hedge' argument for spreading business risk either.
We really need an update on how the initial integration is going and what future tgey see fir tgeir respective business 'silos'.
While the Group as a whole looks a bit like a collection of Dragons Den opps, I am sure the business will prosper once we better see it focus.
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You may well be correct on pricing.
On the basis the Oaktree offer is approved and subsequently settles, there will be a lot of cash in the hands of a small Co. One which the BoD and various Execs have let all shareholders down badly.
If a significant interest materialises from a Party who have some nous and want an AIM Listing, the existing/proposed BoD will not be able to control events.
IMO a sale of Ormonde post Oaktree settlement is not only the most equitable way forward but should optimise shareholder return.
For the absence of doubt, I am not suggesting there is such an interest in Ormonde at present.
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Tungder - I guess we all know why!
No doubt, our BoD will say Oaktree's 'offer' is for Saloro's interest in the operating JV and through Ormonde's shareholding in Saloro will the monies upstream to Ormonde as tge 'Holding Co'.
Even so, what Ormonde SHOULD have done (IMO) is have outlined in their recent Circular, the definitive terms of say share buyback or Special Dividend to disburse the settlement monies to Ormonde shareholders.
After all, Barruecopardo WAS Ormonde and the peripheral gold interests we have always had were never considered before as a basis of carrying the Co forward.
The business entity that is/was Ormonde is effectively finished with Oaktree's settlement and our BoD should be looking at financing (separately) any future business enterprise.
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As we lth's have voiced our lack of support for this BoD on many occasions recently, we openly question their (collective) ability to optimise the future development of Ormonde utilising Oaktree's settlement monies (assuming this completes etc).
I do not however think they will waltz off on any number of jollies financed by this settlement as I believe they may not be the most competent but, neither are they crooked (IMO).
Finally, assuming the Oaktree deal settles as intimated, given the very obvious discount the SP will then trade to NAV, dont we simply become a very obvious takeover target?
Such an event would move the SP very close to the NAV, but given its cash it could be even viewed as a reverse takeover to gain a Market listing for example.
In other words, there's a gilt edged opportunity out there for the opportunist........and, yes I do hope this happens, 'cos I've lost rather a lot here already!
Best of luck ALL.
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Beginning to see this 'value-trashing' all too often in AIM, where anything higher than the 'norm' in a trading context for a particular Co is 'rewarded' with a ridiculous below-bid offer to undertake the transaction.
Perhaps not unexpected here though.
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Hi Optimist - I agree Rur should now have positive cashflow all (still) being well at EdS.
As for asset disposals, lets just say that getting anything like value for these hasn't been our BoD's forte.
And as for getting cash out of Argentina.......well I think shareholders may have to resort to an SAS style operation to have much chance of success here.
You haven't got a canoe by any chance?
Rgds.
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