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Morning malkis - just smiling at seeing the time of ur last post ! And wondering if u were u a night owl or maybe a badger in a former life or something lol !!

Fair point fella - I guess I was working on the basis of it being a rights issue that would be involved and yes I also totally agree that once this does finally get into production - one would certainly hope the sp would see a re rating at a much higher level than we are at present - so exciting times ahead hopefully !

Hi Malkis good afternoon fella - well here's my take on things - the extension of the temp finance deal is great news as it sets out parameters for what's likely to come and is a very sensible step in my view as one has to assume the 6 million will be released as part of the deal as it states the full 30 million - thereby enabling Alberto to finish off his pre production work (which is currently 85% done) thereby enabling him and the Big 3 to deduce almost exactly down to the last penny precisely how much cash we will need for the longer term financing - in the meantime matters will be reviewed monthly at the end of Apr and the end of May with a higher fee charged to Emed if the financing hasnt been resolved -so I would have thought that will incentivevise everyone to get the job done asap - furthermore they all know a resource update is due anytime and this extension clearly proves without doubt the Big 3 are right behind this project and are going to see it thru as most of us thought - most importantly of all though is that it buys us another 3 months in which the share price should now see a decent tick upwards - the point here being - is that when the finalised funds are eventually raised we should be seeing a higher share price - and if that is the case - then this will result in fewer new shares needing to be issued and that can only mean good news for everyone - as it involves less dilution - Alberto has said all shareholders will be given the chance to participate -so yes that means u - and normally that will mean you may be offered new shares based on your current holding on the basis of 1 for 1 or1 for 2 etc and usually u are offered the shares at a discounted price- but that will all depend on the circumstances at the time - you do not have to take part if u don't want to or can't afford to and in that instance you will still retain the same number of shares but as the new shares are issued it will dilute their value - if u can afford to participate then normally u would try to do so -as this will help to maintain your investment value - which should eventually grow higher assuming the share price ticks up after the finance has been sorted and the project develops to ultimate production - the final financing however will not suddenly happen overnight so u will have some time to consider your options and make your ultimate decision - but fear not my friend as I seem to recall u joined the party at around 5p and topped up at lower levels besides - so let's hope it's not too long before u see a positive return on your investment - hope that helps a little and a good weekend to all on this board -GLA

Great find fella that's a super way to start the weekend - thanks for finding it and sharing it with us - happy days and happy weekend to u sir !!!

Well look at the trades today u great guy- lots of people clearly think it's option 2 and that's what uncertainty does for u we've all been there so many times - logic can tell u either way - u either have faith or u don't that's life fella

Yes I agree with u fella and looking at the time of your post u are either an insomniac or a giant lark lol but good post all the same - the reality is while uncertainty abounds there will always be an array of views across the spectrum as whilst the evidence would suggest the reason why the bridging loan has been set up was to move things on incredibly quickly at the site-( and the evidence suggests it has - i.e. 80-85% completed ) which now means the extra £6 million- if it is released - should almost put us on the cusp of virtually being there - bearing in mind how close we are atm -so if that is the case then surely the predicted cost of ultimate financing should be much easier to calculate 2/3 wks on - and from what we know - that should almost certainly be a far lower amount than first thought as primary focus has been on repair first -replace second - which has saved us a fortune already - and undoubtedly has proved as to why Alberto has been the perfect choice imo -so the positive spin would say it does make sense to defer matters a couple of weeks before crunching the final numbers as it's a win win for everyone - But that's only half of it though as until everything is all signed sealed and delivered the alternative view is to consider that's all well and good provided the Big 3 will do exactly that or could they still possibly shaft us - like so many other companies have in the past so that's not unreasonable either is it to be fair - like TW says - it could be seen if the 30th arrives and it doesn't get extended for whatever obscure reason - the company is technically in default -as it has no way of paying back the 24 million - which is true enough -but my guess is Tom cant be following this share that closely - and know the minute detail as posted by Rocco on iii who has seen the progress with his own eyes and ties in with exactly what we all know on here - so for me I go with option 1 - but we all pay our money and we all take our chances - and rightly so - but this really is a game changing moment and if it does come off it will be worth the wait - GLA

Good post mate well said that man

Fella I'm no mathematician so I certainly would not question ur analysis as whatever methodology u use I have no doubts that a few months back to talk of this share at 8-10 p would have been perfectly realistic and credible and in truth the 12p figure u mention is equally viable when u study the fundamentals and the potential overall net asset value of the project - the biggest drawback has clearly been getting the funding Package resolved in the midst of mind numbingly incompetent Spanish bureaucracy amidst a global downturn in resource and commodity stocks resulting in a totally risk averse policy affecting most mainstream lenders- leaving us here with limited options whereby the predatory financier can effectively name it's own terms based on the ailing share price at 2.5p and a ridiculous current market cap of 10 million- and knowing full well that without that £ 50-70 million needed to get us to the promised land - we are in the schtuk big time - the current fall back in the sp to just over 3p is inevitable - the MMs are currently desperately trying to find some buyers ? Where are they then ? if a fair few on here and elsewhere are thinking 8-10 p is coming imminently ? It may be -it shud be - I know it should be - I hope and pray it will be with my holding in this Company -but the trends and the numbers as it looks right now - are blinding me to saying any offers will be a lot less than what they ought to be .Look I really hope I'm wrong for all our sakes nothing would be make me happier so I just hope ur right great guy - we shall soon find out fella

Yes I also agree Mr O if not entirely with your adjective to describe said individual as there may be a perfectly legitimate and necessary reason as to why they have done so - most of us knowing what we know factually about this investment and the progress made of late would surely be adding at these levels and by selling at 3.05 they must be doing so at a sizeable loss and I for one don't wish that on anyone - for me it's a classic case of the market makers doing exactly that - they get a few sales coming in and drop the price causing some to panic and bailing out - knowing full well that the buys will suddenly flood in and life goes on for them with some nice little earners to boot - selling at 3.05 buys at 3.38 - 3.62 do the maths - its happy days for some - because when anyone stands back here and looks at where we are right now with the permits the incredible progress made on the ground - blasting authority received for commencement next month a resource upgrade to the already huge amounts we have already and 3 huge cornerstone investors already committed to share price investments at significantly higher levels than 3.5p i.e. Trafigura bought 2 tranches at 7 and 9p not so long ago - so imo it is unthinkable to believe it isn't going to happen but like all things in life at the present time where any element of financing is involved - sentiment is always king - and none more so than now - we all just have to hold our nerve but it isn't always easy as young Eddie rightly points out -but we shall find out very soon GLA

Some good some not so good - as in reality the financing deal shud have been resolved by month end and that possibly could still be the case -but this is emed don't forget - and it still may be of course - but the signs aren't too promising otherwise why would they have asked for the bridging finance to be extended - along with the convertible notes which would suggest that a final knock out deal has not been quite agreed just yet - I wonder why ? - furthermore it's also been requested that the remaining 6 million be drawdown to see them thru til mid April - with a proviso they could slow operations down at that time - if still not resolved - which would be a real blow - my point being - whether the big 3 are supposedly supportive or not they know full well this will drop the Sp even further and provide themselves with even more scope to bash out a deal to suit who I wonder - yes them of course - and tbh that's precisely what you would expect because like it or not in the current climate that is precisely what you are up against - one thing is for sure - not even the harshest of critics on this board can blame Alberto for that - he couldn't have done much more and his hands are simply tied - it's just another Swiss poor example of where rank and file shareholders sit in this dog eat dog world we live in

Firstly good to see prudential raise their stake to 8 % via M&G as that can't do us any harm as and when all this goes to the sharehder vote -but how do we all feel now re the next move - as per my Saturday post I just can't see Almonty with a market cap not much higher than ours at present- making a bid at 8-10 p a share that overnight catapults Ormondes market cap from 12-13 million to 40 million -and then from nowhere produce £50-70 million in additional finance to fund us thru to production - likewise when Oaktree came in with no other bids on the table why would they be offering a massive premium to the 2.4 share price it had sunk to ? We all know it's worth significantly more but without funding finance we are completely at the mercy of the pack and tbh I am not at all sure that Oaktrees original bid would have been much higher than 4p -if that -given where we were - so the fact Almonty have reappeared has to be a plus if only to get a more realistic price from either party - I just can't see how Almonty can raise the cash personally- but no doubt the mystery will be solved very soon - the fact Oaktree will provide the project finance thru to production is a big plus longer term -but in truth it was a fair bet they wouldn't be paying a big premium for coming on board as we now know -that up until that point -we had nothing else or no one else to barter with - so at least we now have a chance to maybe raise the stakes - to get a better deal than what was originally first proposed - and if it is 8-10 p I will gladly admit I got it completely and utterly wrong - we shall no doubt find out very soon - Gla there are some top bananas on this board - keep the faith fellas

So Ormondes shares were at2.4 when the oak tree news came in when the company was worth a market cap of only say 7million pound and we know we need 50-70 million to finance us to production anyway - so if we were to get a bid of 8-10p from our present levels (market cap now is say 13 million at 3.5 ) which we all know question be getting us cheap - but that transaction in itself would triple themarket cap to 40 million at a stroke -meaning Almonty with a current market cap of only 17 million right now -would be having to find an incredible financing deal to pull that off and get project financing as well - which is why I can't see their opening bid being any where near that figure tbh as I cant see how they wud do it - but hope I'm totally and utterly wrong - i don't blame them for sure but I think they are just opportunists out to make a fast buck - I don't also understand why with permits the sp was only at 2.4 which is also why I can't see Oak tree wud have been offering a much higher price than that i.e. 4p (but even that would have been a circa 60pc jump on the2.4p and its been clear we didn't have any other offers on the table did we boys )so why now would that suddenly jump to 8-10 on the back of a bunch of chancers like Almonty trying to take us out on the cheap and then somehow finding another £ 50-70 million to production - or am I missing something here ?

Morning fella I agree with the spirit of your post and understand exactly where u are coming from as for most of us you are left trying to second guess the detail as opposed to being privy to the actual finer detail and therein lies the problem - bottom line is profit but there's more to it than just that - I do not blame the board for the position we find ourselves in as the delays to permitting was entirely the Spanish bureaucracy and the resulting delays meant the financial landscape changed dramatically leaving our options radically reduced -and to be fair Almonty knew that probably when they made their first bid which we all thought was taking the proverbial in truth- and rightly rejected so why now are we all poss in favour ? The share price dropping to 2.4 that's why - point is Almonty were opportunistic then and even more so now - but maybe we need to take a closer look before we jump - Ormonde s market cap is 11 m at present levels Almontys is 18 million in sterling and they have shareholder equity of circa 28 million sterling on their last financial report - both Almonty and Oak tree specialise in distressed ventures but Oak tree manage 90 Billion dollars worth of assets and have by all accounts promised to deliver all the project funding one way or another - so it will be very interesting to see how and where Almonty plan to raise the finance required as it won't be easy - and as such my view is now to wait and see whats on offer- as all long termers know this has massive potential in the future -it's a world class asset and we just can't afford to be happy making a quick buck and letting it go for a song - the world economy and European markets specifically are starting to turn and this project can deliver for all of us for many years to come but sadly when ur sitting on losses and have been for some time it's not easy to make those calls - I also see that too - the good news is it's refocused attention and now Oak tree may revise the terms of their deal to reduce the diminutive effect as reading between the lines that was undoubtedly going to happen - or who knows someone else comes in to take a look - a take out price at 8-10 going back 6-12 months would have been frowned at but the world's a different place now and whatever happens I can't see us getting anything like the true value short term - GLA

Sorry peeps - Germany has nothing to do it - I typed "team" and that's what it should have said apologies lol - have a good day all

What we have learned here sadly is that the hard evidence is telling us that the board have not been too impressive over the past 12months as the timeline on the almonty statement is clearly dated o. The10th and whilst I accept that they are 4-5 hours behind we haven't had a response from Ormond have we - to even inform us we have had an approach - it will also be interesting to see how they see things as they originally said on the 5.7 p bid it was opportunistic and not offering shareholder value - well at 2.3 p I'm not sure that will wash now myself - all in all the facts and falling share price as it stands or certainly as it stood hasn't done Kerr and the Germany favours whatsoever - and if Almonty come in with a realistic figure it will be interesting to see where the PI's loyalties lie as I'm not convinced we have been treated or our interests best served of late - and communication wise wiss poor imo

Morning fella u have been like Billy no mates on here today lol which is a little surprising but tbh it's prob taken a few by surprise although really why shud it ? They previously offer 5.7 and get blown away and 6-7 months later we are at 2.3p and whilst financing secured will come at a dilutive cost at project level at least so why wouldn't Almonty come back and try their luck - I can truthfully say I wouldn't know which of the 2 suitors would be the preferred option but what I do know is these shares are so undervalued its unbelievable jeff territory and anybody now coming in to spark a bidding war or doing something which should rightfully reflect a more realistic price for all those loyal pi's out there is good enough for me - so bring it on and let's see what they have to offer - incredibly I've just done a dummy buy and sell and the sale price was actually higher than the offer price and I've never ever seen that before - weird but true

I'm not sure about ur theory there young malkis and here's why - from flitting in and out doing dummy trades - the buy price for most of the day was only just over the mid price at 4.27 and to sell was showing around 4.16 - as u say the trades in black are recorded as neutral because they are traded at the mid price and as such can't be definitively placed on either side - but a clue particularly after the bigger trades have been processed is whether the buying price increases or decreases immediately afterwards - on the next couple of trades - and from the evidence b4 us - they mostly have increased so I tend to believe there have been a lot more buys than sells - otherwise the sell price would surely have dropped closer to 4 p based on the trends of the past few weeks - so I think we may see a further tick up if that is in fact the case - either way it's good news to see higher volumes and £42k is a tidy sum and only wish that was me

I'm pretty sure that 2million trade was a buy and here's why ... up til I actually took the plunge to top up myself I had been doing dummy buys and sells all morning up to the time I bought so judging by the time of the trade between 1pm and 1.30 pm the bid /offer spread was showing up as 4p to 4.25 ...but the actual reality at the time it went thru was that the sell price was around 4.03- 4.05 and the buying price was 4.10/4.11/4.12 and it went thru at 4.10 - my purchase followed at a slightly higher figure but showed also as a sell because it was below the mid price - had that been a sale I doubt they would have got the price they did - more like closer to 4p and based on recent trends would surely have dropped the price as opposed to strengthening it as the buying price increased to 4.15 after that

Firstly Hatman some great posts there -spot on and good luck with ur crusade - but Im with Trbw whose eloquent piece sums up my thoughts entirely -so well said that man ! Finally peakview , I'm sure I speak for many on here who would like to thank u for your contribution to this board over the past years as it's been immense mate -it really has - always relevant always informative always worth reading - u were such a believer in this project epitomised by ur considerable holding and I feel for u mate - it's not much of a consolation I don't suppose- but u are much respected fella that is plain for all to see - so all the best in the future and GL to all on this board

It's dependant on shareholder approval that they can acquire 75 pc of total shares in issue - if it goes through and they get 75% they will pay u ur 6p a share but if enough people choose not to sell their shares for whatever reason - then it doesn't go through and we are then at the peril of market forces which may be a bit iffy to say the least - yesterday u cud get 4.05 for ur shares -right now before the vote u get 5.4 and cash in hand thanks very much - but true enough if the vote goes thru then yes u will get ur 6 p and made 0.6 on those selling right now - but cud u call it for sure - i don't think I cud but that's all part of it fella - it's fine margins like all things in life