Member Info for flundra

Let's start by appointing Baldrick to the bod then. Might do a better job than the current lot.

Hi Awax, this one? 5m euros, May 2013.

https://polaris.brighterir.com/public/ormonde_mining/news/rns/story/6xlp27r

Yes all very murky. I do see a higher SP coming, but after that I don't want to be involved whilst the leftovers get re-cycled in the AIM slurry pit. On the face of it, ORM throwing the towel in now has to be right, the risks are too high. But I can't help feeling we've fallen at the last hurdle, and wouldn't bet against this being a profitable state-of-the-art mine in the not too distant future...maybe it's time to start investing in US hedge funds
All very frustrating

Hi Broomfielder
The RNS looks pretty clear to me. The SPA is legally on foot, and the one and only CP to completion is ORM shareholder consent. Further details are promised, but I don't see any doubt either about the nature of the offer, or it completing (wipe out being the only other realistic option for ORM if shareholders don't vote in favour), whereupon ORM get 6m euros.
It's a horrendous situation. ORM have never kept shareholders well informed, and I doubt we'll ever fully know how much is down to management failure, botched due diligence and risk assessment/analysis, professional negligence even, bad luck etc. Lots of views expressed here.
Cash value from the disposal looks to be 6m euros/472.51m shares x .85ish = approx 1.08pps. Add a bit for the other assets and AIM listing, so I hope the SP will recover to north of 1p, but I'll be off after that, whatever plan B is....

Looks like another Sanchez coalition. I wonder if the climate change debate will focus more on solutions than problems this year. Nuclear power exists and is inevitably part of the solution to a pressing problem. A positive CSN report and pragmatic change of heart from govt hopefully. Failing that, looks like plan B. Happy New Year everybody.

...and happy Christmas from me too to all the regulars. May Cochran's 2020 vision be a good one. Ha ha, early cracker joke there!

The sooner a quality CEO is appointed the better.

Don't know, but it looks like a creditor of DS finally ran out of patience and took the draconian step of a bankruptcy motion, which costs and attracts all other creditor interests too. It's not just suing DS for a private debt. Maybe DS has now been made bankrupt, the court unwilling to grant him extra time, despite his confidence? Financially very serious for a person, and likely to limit what one can do in business going forward.
Embarrassing for SLN, and some questionmarks over the bod's judgment re DS perhaps (it's not great to have an insolvent CEO) which might spook investors, but hopefully this is only a temporary blip for the company and the SP. The underlying company fundamentals remain, and we're told this issue is an unrelated skeleton rattling in an unrelated cupboard.
SP continuing south today though.

Bit disappointing imo. Looks like AN was a discovery and technical success, but not enough to suspend as a future producer, nor connected to PW . And no further corporate update as to IPO/re-listing, so is this result a tick in the box for that or not. This announcement needs more detail.

Management failure to do sufficient DD or surveying? Possibly but I doubt the regulatory regime at the time required much in the way of records. Backfilling historic open cast mining in sparsely populated rural Spain! I doubt there were voluntary records either.p
One to suck up imo. But some detail would be nice about how the project might be affected.

Good news on the sales. Some money coming in at last. But the next bit of random sh*t comes along to rain on the parade. RNS is light on detail as usual, but it doesn't look like new capital expenditure will be required. Hopefully the old workings material will be easy to get through, easier than the fresh rock that was expected anyway, and the loss of expected ore from this section, and any delay, will hopefully be minimal.

From CNA's trading statement today:

In Exploration and Production, Spirit Energy remains on track to produce full year total volumes in line with last year. On 12 September, it was announced that drilling at the Lincoln Crestal well in the Greater Warwick Area, in which Spirit Energy owns a 50% interest, had confirmed the presence of Iight oil which can be produced at commercial rates. Further testing on the well is ongoing. On 19 November, drill stem testing commenced at the Warwick West well, the third and final well of the 2019 Greater Warwick Area drilling programme.

All we need now is a favourable CSN report, a PSOE/PP coalition who realise U mining and nuclear power are part of the solution (not problem) for the environment and jobs, support in all this from regional/local government, and for Mr and Mrs Piggy to get airborne.

Voting in Spain.....again. Polls suggesting same result but with Socialist vote reduced and some PP gains.

I'm sure that's right ghost.

I was tempted to think and suggest that because the disassembly process seems to have started, we can infer ops have been completed. And that had it been a complete duster, we'd have heard by now, on the basis there's no reason to sit on this news. And that if it's a discovery, news might come a bit later, as initial analysis and suspending the well might reasonably take a bit longer. But in truth, we simply don't know, cannot infer any of this, and must wait. At least we can be confident we won't have to wait for as long as we've been waiting to re-list! Got everything crossed.

What if anything do we infer from all this?! Oh well, we'll know soon enough. Hope they've found something.

31/7/19 Announcement
Spudding of Andromeda North Well
Hague and London Oil PLC, the oil and gas company with a full-cycle portfolio of production, development, appraisal and exploration assets focused on the Southern North Sea, is pleased to announce the spudding of the Andromeda North well on licence Block 42/12, in the Southern North Sea, in which HALO has a 45% working interest (Spirit Energy 55%). The Andromeda North well is targeting ca. 40 Bcf of resource, within the single well and is planned to be drilled to a total depth in excess of 3000m. The well is expected to take ca. 90 days to reach total depth, logging and in the event of a discovery will be suspended as a future production well.

A rather vague summer 2020 for the arbitration ruling now. ....FFS

Slightly better mood music and more encouraging language re permitting? Collaborative approach and constructive dialogue now.

Maybe RNS coming. Confirmation of access to main ore body and APT sales is the other news currently expected I believe. Direction of travel looks good imo.