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would the 25k buyer please let us know…….what you are ON

I have been digging into Russian oil a lot lately. Our accounts will be better than most expect. quite insulated from the outer world and the ruble is helping no end. That said they company itself has not grown into the dream of the past. However, I am looking forward to progress on the northern part in S373. no word on the seismic results !!!!

and not a word from Almonty since then !!!!!!!!!! smells like BS. Not Ormonde's fault.

I read it and at first thought Kerr said it but realised the real meaning on the second time . He may have said it and if he did that's ok, shows he is a safe pair of hands.

More to fall here I think

In a word 'no'.

They still have made no bid, perhaps they are playing the classic hostile bidder trick of waiting for the first bidder to show their hand first, and counterbid a few days later with an improved offer counterbid . That makes sense. It will be a paper swap merger. Not a bad deal only Almonty will take years to gather up the cash to develope the mine.

Shares do that

you got to be kidding …..what the heck has happened ?

how in God's name does this have a SP this high ??????? just gave my first string sell opinion.

take a look at the chart….for the last 3 years….shaking my head here, can someone tell me what is going on with this firm? it looks like a steal at these prices.

Mart Cap £15m , share price 25p dividend 6p. a cash mountain. clean straight forward business and buying warehouses. !!! where the catch???? too good to be true

By my own Calcs I think there is profit in this to invest in as long as we don't concede more than 75% of the mine, we could stomach a 80% squeeze but only if the equity injected was $35 to $40 and great Mgt deal, but thats highly unlikely and the long tremors would revolt. so its going to be a decent deal…..drum roll

a quick reply to your post sir. Allow me start by saying my Target price of 12p is a mid term price based on getting a good funding deal, and then getting the mine up and running with operational reports. I gather you understood me but just re-saying it for others here. I think the current market price is actually fair enough all considered, even though I dod top up myself last week. …you are right about the delays, drawbacks, and worst of all the drop in the price of tungsten. all impacted on the SP. While our RNS is non-revealing and professional, I think Kerr Anderson's interview is revealing in style and sentiment. He has to be sensitive to long term holders and many of these will not see their money any day soon. so he will be unlikely to shout up the deal. while, deep inside he may think it is a fair and reasonable one, or a 'good' deal to use his words. …we are where we are. I expect the deal to conclude and on time, I do not expect a bid from Almonty. nor do I expect it to be entertained. If Ormonde have managed to Hold 35% of the project the SP will lift from its current levels IMO. reading between the lines of Kerr's interview, I got the impression that the relationship with Ormonde and Oaktree is quite cordial and respectful. He refers to them as 'these guys' 'like the project and wanted to buy it all'. this shows there was some give and take here. It was not a 'take it or leave it style negotiation - and Oaktree didn't get their way in terms of the 100% buy out, so I am assuming they may have bent on other things, including price, size of holding, equity amounts etc. fingers crossed and all input welcome 12p…….yes I think but we will be waiting a few years perhaps to get there.

The value here depends entirely on the equity split and debt split. Ihave put a lot of thought into this and this is where I am at. I think a fair deal would be a 65% to 35% split. ( It may be 60-40 or gulp 70-30, but I take the mid ground. I see Oaktree putting in €25m cash equity into the project in exchange for that 65%, the JV partnership borrows €25m to build the mine. with a holiday of 2 years attached pending production. plus a €500,000 a year Management fee paid to Ormonde Mining. a €25m loan being paid off in proportion to the ownership level. an agreed €3m feasibility fund for the mines extension pencilled in with Oaktree taking the tab when it comes up. sound rough ? to be fair to Kerr these are difficult times, despite the quality of the asset , However. The mine should produce €20m operating profit a year. take away €5m for debt repayments. leaving €15m a year, with ORM getting 35% or roughly €5m of that and a management fee. but retaining the company's other assets. These are worth several million on their own. thats how I see it.a buy at these levels but not great for long term investors. I think Ormonde producing profit of €5m a year will value the company at €55m or £41m. We have a few upsides on my figures, including a price rise in Tungsten as my valuation is based on todays $275 mtu. Plus the opportunity to extend. Plus a merger with Wolf later on. I think Oaktree are selling's not miners so I expect us to be sold on once in production. Taget Value £41m Target Price 12.9p ,,,realized in 18 months. Kerr Anderson says the deal is a good one. I think he is an honest straight talker. my money is in.

took a little top up this morning. I have too ugh here as it is, but I think Kerr will get a decent deal, he is that type of man, I trust him. so here I am again.

Well it's 51% to 99% . Impossible to say for sure

Same amounts . Different RNS s

come back monday afternoon. I will have a real post ready then/

There has been a lot of discussion about the danger of dilution here. firstly any proposal has got to be passed by 75% of the Shareholders and we are not just talking about terror stricken Private Investors. State Street through M&G are holding 8.9% Prudential are holding an identical shareholding of 8.9% Tiberius are holding 7.49% Saracen Growth Fund hold 3% Morgan Stanley 3.22% Jupiter are holding 0.5% Davy StockBrokers …holding for clients an unknown amount but it would be high. Now if Oaktree want to steal the company with a nonsense bully boy offer I think they arrived at the wrong party, Take a look at the guest list above. any offer that leaves shareholders less than 5p would propel State Street and Prudential and Tiberius into a loss making position instantly. It is hard to imagine them voting for anything that will put them into a loss making situation. Unless of course the whole project is a mess and they are happy to get out ……put thats not the case here. Remember M&G ( state Street ) and Prudential are new comers to the party, they may well have information that we are not privy to. They certainly have the financial muscle to ensure they are not bullied by Oaktree. I am thinking of adding to my position here. I would welcome replies and comments to my own analyses.