Ormonde Mining Share Discussion Threads

[bizana] 14/10/2015 12:51

Article ( Davy Research ) View Full Article ( Private Clients )

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Ormonde Mining
Good progress and on schedule at Barruecopardo tungsten project
October 14 2015 | Job Langbroek | Morning briefing | 1 page(s) | Read Important Disclosures
Following the funding package agreed earlier this year to finance the Barruecopardo tungsten project, Ormonde reports good progress with various early elements of the development and that it is on schedule for commissioning at the end of 2016, as planned. In tandem, the group has begun to explore the upside potential in the project with the start of a well drilling programme to probe the deeper extremities of the mineralisation

[admiral jellicoe] 14/10/2015 11:21

Hey don't forget me!!! I'm still in too!I was thinking of topping up a bit, but funds have been v tight this year, which is just as well as the share price has not done well. I should have taken my loss when JPM started dumping, however lesson learned.But ORM is not unique, various commentators on Seeking Alpha are using the word "massacre" when describing commodities.I will start topping up next month .... I hope!

[bushead] 14/10/2015 10:31

I'm still in

[steelwatch] 14/10/2015 10:25

dyfi - yes, best wishes all round. From your moniker, I deduce you are of Welsh origin? If so, and if by chance you are near the M4, will you be attending Thursday's presentation in Bristol as above? If so, feedback would be appreciated here.

Same goes for anyone else out there within range of the event.

[dyfiman] 14/10/2015 10:06

......AND Dyfiman still around as well. Have accepted that it's a slow-burn
thru' to the end of next year. So...... small amount of shares
are tucked away.... waiting for the mine's grand opening.

Best wishes to all remaining 'Ormers'.

END END

[dolores123] 14/10/2015 09:50

I'm still in and waiting for mine to come to fruition.

[steelwatch] 14/10/2015 09:37

Not many left here now it seems. Hopefully, as the year ahead progresses, there will be a reversal in the WO2 price and some fresh new investors get onboard as development expands and drilling results lead to increased reserves.

[steelwatch] 13/10/2015 17:36

Courtesy of vfb1888 on the Scotgold thread:


Presenting

Is Now the Time to Revisit Natural Resources?

This is your last chance to register to attend our Investor Evening in Bristol this Thursday evening (15th October 2015). Book your FREE place now, by clicking here.

The event will focus on the natural resources sector, which has lost significant value over the past two years as global commodity prices have declined. The evening will comprise an introduction by Beaufort's specialist mining analyst - Sheldon Modeland, presentations and Q&A sessions with FOUR natural resources companies, followed by drinks, canapés and a chance to share investment ideas with other delegates.

The forum will give private investors the opportunity to hear directly from the senior management of these listed companies, providing an insight into the issues currently facing the industry. We aim to unearth some potentially exciting investment opportunities at the junior end of the market. After such a period of decline, is now the time to revisit this sector?

Companies presenting on the night:

Eurasia Mining (EUA.L)
Ormonde Mining (ORM.L)
Scotgold Resources (SGZ.L)
Anglesey Mining (AYM.L)

Register for your free tickets to attend this event now by visiting



or by calling our Bristol office on 0117 910 5500.

Unfortunately, I won't be unable to attend despite holding both :(

[steelwatch] 13/10/2015 17:20

Tungsten Demand Growth vs. Global Supply

Tungsten demand continues to increase, but future supply remains uncertain.....

[admiral jellicoe] 12/10/2015 11:32

Reading Bloomberg this morning...article warning about Hedge Funds could get caught on the wrong side of the 'shorting cycle'.Mentioned that Hedge funds have driven down commodities on the expectation the slowdown in China will continue to decrease prices.However this strategy does not work forever, article mentioned that the consensus is that commodities are way oversold. The worm may be about to turn!!

[steelwatch] 12/10/2015 09:21

While many analysts including those working for Goldman Sachs, UBS and others remain pessimistic about the outlook for metals and mining, Morgan Stanley last week made a definite switch to the bull camp.

The investment bank believes the worst may be over mining stocks that have seen valuations drop dramatically since the start of the year:

[Morgan Stanley analysts] see commodity prices rising 19% by 2017, adding this “would be a sharp reversal from the experience in the last 18 months.” Equities exposed to the sector, they said, will likely outperform.

“Emerging markets and China in particular remain key to commodities demand. In the next few months we expect the perception around this demand to improve. In particular the acceleration of financial and administrative stimulus policies in China in recent weeks should start to feed through in both actual activity levels and equity market expectations,” they wrote.

[dolores123] 30/9/2015 08:25

No bad news anyway and although its early days yet construction etc seems to be progressing well.

[liquid millionaire] 30/9/2015 08:00

30 September, 2015

Ormonde Mining plc

("Ormonde" or "the Company")

Board and Management Changes

Ormonde wishes to announce a number of changes to its Board and Management. These changes are intended to provide the Board with the appropriate leadership, experience and expertise as it commences the development and operational stages of its Barruecopardo Tungsten Project and looks to further expansion.

Board & Management Changes - Mr. Steve Nicol confirmed as Managing Director, Mr. Paul Carroll appointed Chief Financial Officer and Mr. Jonathan Henry appointed Non-Executive Director. Chairman, Mr. Mike Donoghue reverts to non-executive chairmanship

The appointment of Mr Steve Nicol (52) as Managing Director of Ormonde has been confirmed. Steve is an executive director and was previously Chief Operating Officer of the Company and, since 3 August, 2015 following the sudden death of Dr. Kerr Anderson, has been acting Managing Director. This appointment is effective immediately. A qualified mining engineer, Steve has had direct responsibility for the various key stages of Ormonde's operations in Spain, including evaluation, feasibility study, permitting and offtake arrangements for Barruecopardo, since his appointment as COO in April 2008.

Steve has over 25 years' experience in the mining industry, initially in operations and subsequently in mine evaluation and project management of various underground and open pit mines in Australia and Europe. Steve, together with his family, has been based in Spain for the last six years.

As the Company moves towards production at Barruecopardo, Mr Paul Carroll (38) has been appointed Chief Financial Officer with immediate effect. Paul, a chartered certified accountant by background, has served as Corporate Development Manager for Ormonde over the last three years, playing a key role in all aspects of the Company's project financing for Barruecopardo. Mr David Varian, who fulfilled the position of CFO for the Company on a part-time basis since July 2011, will remain with the Company as Group Financial Accountant.

The Board is also pleased to announce the appointment of Mr Jonathan Henry as a senior non-executive director. Jonathan has widespread mining industry and corporate finance experience, and is currently President and CEO of Gabriel Resources Ltd, a TSX-listed company. Previously, he was Finance Director and subsequently CEO of Avocet Mining PLC, a company formerly involved in the tungsten industry through its ownership of the Panasqueira Tungsten Mine in Portugal, the Pasta Bueno and Palca XI Tungsten Mines in Peru and the Pine Creek Tungsten Mine and Bishop APT plant in California. Jonathan has considerable mine operating and development experience and significant exposure to capital funding and M&A activity.

In completing this reorganisation Mr Mike Donoghue, Chairman, will move to a position of Non-Executive Chairman with immediate effect.

Commenting on the appointments, Mr Mike Donoghue, Chairman of Ormonde, stated:

"On behalf of the Board, I am pleased to welcome Steve Nicol as the Company's new Managing Director. Steve has the operational skills, capability and experience to manage the Company's development as a mining company and to provide the direction, energy and framework to guide our expansion as we move forward.

I am also pleased to see the key proven management team of Steve and Paul Carroll formalised, with Paul assuming the role of CFO having played a key corporate role for Ormonde over the last number of years particularly in relation to financing arrangements.

Jonathan Henry also brings considerable experience, both industry and financial, to the Board, as well as independence, and will be an asset to the Board and the Company in the years ahead as we move towards the transformational development at Barruecopardo and beyond."

Additional Disclosures in relation to appointments:

Paul Carroll

Mr Carroll (38), a Fellow of the Association of Chartered Certified Accountants, has wide ranging experience within Irish companies at CFO/Financial Controller level and has since 2007 been in the position of CFO of LIA, a professional membership association (10,000 members) which provides education and accreditation to those working in the Financial Services Industry in Ireland. Mr. Carroll is also a director of Bluestorm Ltd, an Irish electronic product trading company with a current annual turnover of EUR40 million, and a director of a number of other private businesses.

During the past three years, in his capacity as Ormonde's Corporate Development Manager, Mr Carroll has been actively involved in corporate affairs and has played a lead role in discussions and negotiations in relation to the funding of the Barruecopardo Project. Mr Carroll is the son of Mr. John Carroll, a non-executive director of Ormonde.

Jonathan Henry

Mr. Henry (49) is currently President and Chief Executive Officer of TSX-listed Gabriel Resources Ltd. Between 1994 and 2010 he worked with Avocet Mining PLC ("Avocet"), now a West African gold mining and exploration company operating the Inata Gold Mine in Burkina Faso, in a variety of senior management capacities including Finance Director and Chief Executive Officer. During his tenure at Avocet he oversaw successful exploration, feasibility study, mine development and capital funding activities, plus a number of acquisitions and disposals of mine assets in Portugal, Peru, USA, Tajikistan, Burkina Faso, Malaysia and Indonesia. Avocet's activities during Mr Henry's tenure also included the redevelopment and operation of tungsten mining and processing operations in Portugal, Peru and USA.

Mr Henry has an honours degree in Natural Sciences from Trinity College, Dublin.

The following are the directorships and partnerships held by Mr. Henry within the past five years:


Current Directorships: Past Directorships:
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Gabriel Resources Ltd. -
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Mr. Henry is currently not a holder of the ordinary shares in Ormonde. There are no further details that are required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM and ESM Rules.

[liquid millionaire] 30/9/2015 07:55

Ormonde Mining plc
("Ormonde" or "the Company")


Interim Results for the Six Months Ended 30 June 2015

Ormonde Mining plc, the development and exploration company operating in Spain, is pleased to announce its unaudited interim results for the six months ended 30 June 2015.


Highlights:

· Mining Concession received and the critical permitting steps for Barruecopardo Project development completed late in 2014

· USD 99.7 million funding package successfully completed for the development of Barruecopardo, with Oaktree Capital Management, comprising a well balanced mix of equity and debt

· Commencement of the development stage of the Barruecopardo Project, with tender documents for the supply of major items of processing plant issued and final engineering design work for rest of plant underway

· The tungsten APT price drifted downwards in the first half of 2015, but the supply demand equation remains favourable and the medium to longer term outlook is positive

· Commissioning of the mine targeted by end 2016

Michael Donoghue, Chairman of Ormonde, commented,

"With permitting in place late in 2014, the key activities for Ormonde in the first half of 2015 centred around finalising a capital funding package to facilitate the development of the Barruecopardo Tungsten Project. This task was completed successfully with the securing and subsequent closing of a USD 99.7 million financing package, utilising funds managed by Oaktree Capital Management, midway through the first half of 2015 and I am now most pleased to inform shareholders that the development stage for the Mine is underway, with commissioning targeted to commence late in 2016."

[terropol] 04/9/2015 11:04

Yes Dolores, now looks an 18 month waiting game...Demand for tungsten is there, this down time should not last to long, with a bit of luck...

[dolores123] 04/9/2015 07:49

With the drop in tungsten prices perhaps in retrospect the deal grabbed with Oaktree may not now have been offered.

At least now the project is funded and development can take place whilst we wait for the tungsten price to improve over the next 12 months or so.

[steelwatch] 03/9/2015 16:43

In between the 2 RNS's above:

"On-site Operations
Substantial progress and preparations are being made on-site, that would expedite development upon completion of the financing process. These include:
Infrastructure Works
 Negotiations completed for power connection
 Power line construction designs underway
 Negotiations for water supply finalised
 Constructions design for water-line finalised
 Construction design for by-pass road finalised
Construction Permits and Land Rental/Acquisition
 Modification to council by-laws for building erection approved
 Application for council building permit submitted
 Municipal license for the construction of the water line submitted
 Finalisation of preparations for expropriation of outstanding lands required, following receipt of the Mining Concession
Equipment and Sub-contractors
 Preparation of the equipment enquiry documents is advanced
 Finalising negotiations for construction management contract
 Shortlist of construction sub-contractors drawn-up
 Project statutory manager and environmental officers appointed

Kerr Anderson

[steelwatch] 03/9/2015 16:35

In any case, no rush with the current APT price c.$190 per MTU.

[steelwatch] 03/9/2015 16:33

Digger - above isn't old news.

 "Completion on 19 June 2015 of all conditions relating to the Oaktree Financing (totalling USD 99.7 million), including the receipt by Saloro SLU (the company which is developing the Project) of the initial Oaktree equity contribution of USD 25 million.
 Activation of initial key activities, including the Stage 2 detailed engineering design works by Fairport Engineering, required to enable procurement of key equipment."



This is in line with the flow chart above. Fairfield previously carried out preliminary engineering design

"Fairport will carry out the design work required to enable the placement of the key equipment orders before the finalisation of the detailed engineering required for Project construction."




[digger jim2] 03/9/2015 14:33

Anybody any current news?

[digger jim2] 03/9/2015 14:33

Again this seems old news about design studies which they said were completed months ago so what progress on the ground? Its now over 3 months since the financing so they surely must have at least started on the ground surely????? Or has all work stopped since KA passed away????

[digger jim2] 02/9/2015 10:35

Thanks Steelwatch

Does this mean they have not started anything on site yet as it seems construction is delayed until H1 2016 ???

Seems to me to be very very slow as I thought they had all the engineering studies completed months ago and surely they must have started site works ??

Appreciate any updates

Jim

[steelwatch] 01/9/2015 12:34

Jim - from the AGM presentation:

[digger jim2] 01/9/2015 12:17

Anybody got any updates on how the build is going ? Imagine they must have completed most of the civils by now and started on principal plant erection. Maybe even started stockpiling ore ?

Anybody know how its going as no news releases for some time now apart from the KA tragedy?

Jim