Member Info for MisterPositive

Bought some.

Amazing high grades.

Mcap way too low.

https://www.wsj.com/articles/biden-stimulus-adds-fuel-to-copper-rally-11610724809

https://www.wsj.com/articles/biden-stimulus-adds-fuel-to-copper-rally-11610724809

Just recently Chinese paid US$550m for a 95% stake in the Kisanfu copper-cobalt project in the DRC.

Owner Freeport back in 2016 was willing to sell same project to same Chinese Buyer for only $50m...

This time around Chinese were happy to pay 11 times the 2016 price as they want to secure supplies of key Commodities as they ramp up their economy post COVID-19.

This is very significant news for companies operating in the DRC.

We could see this start to tick up in coming days towards 2.5p and 3p level as deal confirmation news gets closer each day.

Also looking OVERSOLD now.

I personally would have just paid the full $800k in CASH and just get on with digging out the Copper and start shipping ASAP

Agree. This is most undervalued Vs peers yet "most CASH" in the bank (circa £5.5 million cash).

This will "Catch Fire" soon as the DEAL is concluded and deal terms announced.

Deal Consideration up to $800k -
"It is proposed that Ormonde would pay a consideration of up to US$800,000 in Ormonde shares and/or cash on closing of the transaction."........RNS 14 Jan 2021

Company also said in the same RNS, they can do ALL CASH deal if they want to without "ANY" shareholder approval.
Also want minimum dilution for shareholders.....trying to strike a balance i guess for all.

Personally i think lack of clarity around 'cash & Share mix' of $800k consideration is what is holding this back after touching 2.48p on Thursday.

so which one is it?

stay tuned.....should find out very soon.

The Licenses include:

(1) a copper-lead-zinc deposit -

* that has been, until recently, subject to small-scale underground mining:
* recovering direct shipping ore ("DSO") grade material (previous operator DSO grades of 6% copper, 23% lead and 25% zinc reported - see Note 1);
* public domain drilling results including 11.9% copper, 29.6% lead, 19.4% zinc and 159.2 g/t silver from 8.55 metres downhole depth (see Note 2);

(2) copper-silver deposit -

* with mineralisation over a 1.2 kilometre strike length with significant high grade resource potential indicated by previous operator work including a public domain JORC (Note 4)
* Exploration Target of 15 to 20 million tonnes grading 3% to 5% copper (see Note 1);

and

(3) several other recognised historical mine sites or exploration prospect areas providing an exciting project pipeline across this underexplored land package, which has to date seen very limited effective modern-day exploration (see Note 3).

NOTE 3:
The Licenses cover a district of structurally controlled base metal deposits hosted by Neoproterozoic carbonate rocks and contain multiple recognised historical mine sites or exploration prospect areas assessed to various levels by geological, geochemical, geophysical and / or drilling works. The style of deposits found in the district has been compared to high grade deposit analogues including Kennecott (Alaska), Tsumeb (Namibia) and Kipushi (DRC).

I wonder if BHP would want to get back into Arya or Big One deposits ?

given both the high grades and size of the deposit with the added benefit of much higher Copper prices currently compared to 1997...

BHP would defo be keeping a very close eye on proceedings at 'BIG ONE" and 'ARYA' in coming weeks and months.

Arya prospect used to be owned by mining giant BHP back in 1997.

Arya prospect

Arya's massive sulphide bedrock conductor has been identified twice now via electromagnetic surveys — once by BHP in 1997, and again by Geoscience Australia in 2019.

BHP's preliminary sampling of surface rock chips, up to 1.84 per cent copper, were interpreted as up-dip extensions to the main sulphide body correlating with the bedrock conductor.

BHP initially recommended follow-up drilling at Arya, but never went ahead due to the base metal downturn in the late 1990s.

In addition, the site appears highly prospective for iron oxide copper-gold mineralisation.

"With a game changing discovery of this nature at Big One Deposit, the Board is now actively accelerating forward development plans."

"Following the completion of drill-holes 307-314RC, Castillo's geology team reviewed the samples and observed visible copper oxide and sulphide mineralisation.  

 These observations are encouraging as they suggest there are two, possibly three, zones of copper mineralisation across these drill-holes. Moreover, with chalcocite and malachite apparent, the intersected mineralisation is within the supergene/transitional zone below the oxide layer and relatively close to historic workings.

 Samples, which have been sent to the laboratory for analysis, should potentially confirm there are more extensions to known copper mineralisation at depth and extend the strike extent. In addition, verifying the presence of incremental copper sulphide mineralisation is significant as this further enhances the potential scalability of the Big One Deposit. "

Assays results due anytime from another 8 holes.

307RC - 314RC

Dr A

You are a star and probably the record holder now for most recommendations I have ever seen.

It just added no. 41 recommendation to the tally.

Well done.

Yesterday's RNS...they raised £10m CASH
Another £10.2m CASH to come from Peel Warrants

This company is going places.

Ignore the derampers. They only deramp a Good share.

Company has already got the blessing of this pro business Govt.who want foreign investment to come in the country to tap into their vast natural resources.

ORM to acquire 80% interest in 2 Exploitation Licences (not 1 but 2).

"On completion of this transaction, which remains subject to the finalisation of certain terms, conditions and legal agreements, Ormonde will acquire, or have the rights to acquire up to an 80% interest in two exploitation licenses ("Licenses") covering multiple high grade copper and polymetallic development and exploration projects in a highly prospective and underexplored district in the Republic of the Congo ("ROC", also known as Congo-Brazzaville)."

Yes. Market is waiting for the deal to be approved and concluded.

Company has already negotiated and agreed to bring in the project partners who are also very happy to come on board and share the huge upside.

Some will always complain as its just their nature

getting in always a very strong signal.

Must have done their future Valuation forecasts here with all the tools they got.

Strong Buy on Daily TA.

RSI cooled off also since hitting 4.45p

Primed to move higher imo with next Assays to come in anytime.

on the RSI.

Time to Buy at these levels imo.

Institutional investors come in ahead of any deal.
So must be something going on in the background.

Are instos buying for themselves or bigger player?

We know this is home turf for RIO and BHP.

With the very high grades and size of the 'Big One' deposit....must be on their watch....