Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hey Hawai,
This is what the board told us -
Ormonde will continue to keep the market appraised over the coming weeks as work continues towards concluding the terms of what the board believes will be an extremely value enhancing opportunity.
At what point do you think this became '' An extremely disappointing opportunity with no legs?'' They went to the market and shareholders with this drivel, not sure if you have ever studied negotiations and how they are engaged, but at what point did this become a no go? As noted in previous comments, ORM are not a blue chip company, there are a couple of directors and a main shareholder, a pretty flat structure where decisions should be clinical, fast and constructive, I'm sorry to say their recent performance is way below poor. I hope it turns for you and other LTH's, but at the moment, I see absolutely nothing to invest in here... Best of luck...
Hey Lucy, 4 million Euros but what else? Guessing this cash in the bank will steadily erode... A board and main shareholder who cannot agree? No future projects mentioned?? There is a cautionary tale with this share, be careful and DYOR.
Hey Barney, well surprise, surprise! Bad news as expected... Still concerns me at what point it became a bad deal... Terrible company from my perspective, I've just dropped 250,000 shares and will get rid of the rest of my investment soon as I see zero future here, not even one mention of another project???? DYOR
Hey Barney, hope your well and enjoying this beautiful weather :) Yes, I'm confused over the delay, they are not a FTSE100 business, just a small board and a main shareholder, surely this should make decision processes much more simpler, they seem to have a pretty flat structure.... Maybe the negotiations are going well and we will all reap the rewards very soon... Not sure I could stay in for 20 years as jstandard has managed, but good luck to all ... Oh and all have a fabulous Easter :)
If decision making processes took this long in my business, we would be out of business. I'm sorry, but there are no excuses for such poor communication from the BOD and main shareholder! They need to get this sorted asap.
Hey Barney, Happy Monday :) I'm with you sir! But would love a bounce to 7.5 or 10p! Oh well, fingers and toes crossed something 'incredible' happens soon.. Have a good day..
Think I'll give this a couple of more days, it just seems the main shareholder, who is obviously controlling this, want's the price to reduce further and further. Come on BOD, the investors deserve some kind of update on the 'long term enhancing opportunity', because at the moment it's not looking overly promising!
Wow, hasn't Friday brought out some interesting opinions, and so many new people on the board, all a great read tbh. I've mentioned the BOD and the rules around the NDA before, I'm still holding pre suspension and there is a reason for such, there have been no leaks, no funny business through an incredible couple of years, just a dream to LTH's that looks like it will come off, thanks to the BOD of Eurasia. Holding a glass of vino (apologies Tilly, no rum), and celebrating whatever will be as time progresses! Good luck everyone...
Hey Barney, ditto.... Well I topped up twice yesterday, one trade showed up, the other one didn't, no surprise there... I'm holding back the frustration with a feeling this still may develop.. Famous last words...DYOR
Hey Barney, hope all is well, just took the following from an earlier RNS:
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. Further cash and Ormonde shares will be payable conditional on the achievement of key technical and administrative project milestones. The final of these milestones would be payable on one of the several projects achieving a year of profitable production.
So the initial investment hardly eats into all of their cash? Can you see a huge amount of issues if shares were part of the deal?
I've never seen an auction where there we literally no trades? Maybe it was a sale... Where no one was interested :(
Thanks Barney, never seen price monitoring when there was only 3 trades :) Price seems stuck again so guess will have to wait an see if a UT or delayed trade is mentioned later....
If someone could explain the RNS would be appreciated?
Morning Barney, hope all is well... In absolute agreement! Think I need to check when their financial year runs too/ from, possible delay might be due to this? Maybe we will hear something early April? It would be advantageous if the BOD gave some signal of their plans, good, bad or indifferent.. I've got plenty of other places to invest in :)
Looks like a steady decline in SP due to no news... The BOD have to get this sorted asap otherwise we will all loose interest!
Barney, I'm quite recently invested in ORM, but obviously long term in other stocks, EUA & SAV etc, etc. I also follow your pattern, never sell everything, always keep some pending, just in case! Onwards and Upwards anyway, happy to keep this until they start mining :) We hope.....
Hey Barney, a month has passed since the last AGM, incredible we've had no update. I'm going to hold for news, haven't got a kings ransom in ORM but enough to make a good return if the SP goes over 3p... Fingers crossed for all LTH's we get something viable and exciting sooner than later....
Guessing there is an NDA with prospective purchase, included will be a time line or deadline, so all guesswork from an investors perspective, news soon either way is what's needed...
Integrale, couldn't agree more. The positivity in investing in ORM is starting to be more of a frustration due to their internal issues and inability to finalise the 'ground breaking' developments they discuss in their RNS. I'm still concerned they publish positive information when I question if they, as a BOD, with the main shareholder ever actually agreed to issue shares for the acquisition? Maybe someone has a different agenda? Still holding...DYOR