RE: Tru acquisition20 Feb 2024 16:25
This was the response i got after contacting Orm.
While we share your frustration with the share price (stock market conditions have affected most small cap mineral exploration companies severely), Ormonde’s board / technical advisers believe the value creation potential of the portfolio to be compelling and the potential returns are only greater from these levels.
Ormonde believes TRU’s Golden Rose project, given its location, is of the quality that has the potential, in due course, to attract major investors/industrial partners to help take it forward. An example of the kind of interest is TRU’s neighbour in Newfoundland, Marathon Gold, which has just been acquired for CA$345m by Calibre Mining. Calibre Mining has then proceeded to stake new claims directly flanking Golden Rose. The project is undoubtedly at the centre of the next potential Tier 1 gold producing region – and Ormonde’s shareholders are exposed to this potential.
Ormonde also owns 20% of Peak Nickel which is engaged in exploration at the Rodburn Nickel Project in NE Scotland. Ormonde’s technical team is very positive on the geological prospectivity of the project and looks forward to updating investors as and when appropriate.
The Ormonde team strongly believes the company provides unique exposure to very worthwhile upside potential without excessive risk. The underlying opportunity of the investee companies is compelling and will, the board believes, be reflected in due course.
Kind regards
Fiona – on behalf of Ormonde