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ORM Ormonde Mining Plc

0.75
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ormonde Mining Plc LSE:ORM London Ordinary Share IE00BF0MZF04 ORD EUR0.01 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.75 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Ormonde Mining Share Discussion Threads

Showing 6951 to 6975 of 10350 messages
Chat Pages: Latest  282  281  280  279  278  277  276  275  274  273  272  271  Older
DateSubjectAuthorDiscuss
19/2/2018
08:41
Really we can only rely on previous information published by Ormonde, backed up by the fact Oaktree would have completed significant due diligence prior to putting up 100 million.

In terms of the predicted quality of the product , I tend to find this quite a good read:

Metallurgical testwork has been carried out using composited drill core intercepts. This showed that crushing of feed to 5mm was sufficient to achieve effective liberation of the tungsten minerals for gravity pre-concentration. Further testwork on the pre-concentrate showed that upgrading by gravity, followed by flotation to remove any sulphides, produced a final tungsten concentrate assaying 74.6% WO3 (industry standard = 65%) with an open-circuit tungsten recovery of 71.8%. Analysis of the results indicates that a process plant recovery of at least 78% can be expected when treating a plant feed of 0.30% WO3.

There's always potential for problems when designing, fitting and commissioning new production facilities. Barruecopardo though has a huge advantage over many other projects(including Wolf)which adds an element of derisk - this being that production has been successfully established previously. Barruecopardo produced from early 1900's through to 1982 , so the mine product is proven and methods to extract the WO3 tested.

3 yrs is plenty of time for them to generate enough for dividends but this like everything on this project hangs firmly on the price of tungsten.

12vic
18/2/2018
21:12
micnoc - I doubt I have more knowledge having no background in mining to draw on, but merely quote from the most recent presentation:

▪ Simple Processing:
▪ Simple gravity processing of scheelite ore provides for efficient plant (nominal 1.1mtpa)
▪ Proven technology from previous ~100 years of production
▪ Tungsten-bearing scheelite liberated at 5mm crush size – no grinding required, no loss to fines, no tailings facility
▪ Equals low capex, low opex and high recoveries
▪ Added benefit of ~40% spare capacity – reduced start-up risk, enables subsequent expansion.

I have next to no knowledge of Wolf apart from knowing of their whereabouts in Devon. From what little I read, rightly or wrongly, I concluded that they had inferior grades, but made up for that with a larger ore body to draw on.

steelwatch
18/2/2018
20:57
Oh yeah Processing From day one the spirals have been advanced as THE way to go and they are at the cheapest end of processing. Nothing I have read since suggest there is a change of plan
roykeane2
18/2/2018
20:55
Can't give technical answers as I am a long term investor in from the start of this venture. Big shocks can always arrive but it sure helps when Spain's most important mayor has such strong connections and involvement in this his home town. The price of Tungsten to me is the single biggest issue and the scarcity worldwide gives me comfort. The proven And unproven reserves here beggars belief versus other projects . Warren Buffet invested 120m dollars into a mine under ice for 8/9 months in Siberia/ Canada border back 5/6 years ago so lovely sunny weather without having to mine is clearly way more attractive . I remember scratching my head as to why he didn't BUY ORmonde for a fraction of that at the time. Can't remember point 3
roykeane2
18/2/2018
20:42
The project is shaping up well and it was good to read about the potential upside of around 8p discussed recently. Would someone on here with more knowledge than I answer a question or two that I have? Are there any foreseeable potential banana skins with the processing? I ask this because of what has went on with the wolf minerals project. I think I may have read that we have different method of processing.
Second question: how does the quality of our (Ormonde) ore compare to the Wolf Minerals project?
Last question: Is anybody expecting a potential dividend to be paid on ormonde shares in the short term (3 years)?

Thanks in advanced for the posters here that post interesting and valuable information.

micnoc2015
18/2/2018
11:09
Metso will deliver flotation equipment to expansion projects by Almina, Somincor and other leading mining companies located on the Iberian Pyrite Belt as well as Saloro in Barruecopardo, western Spain.
steelwatch
17/2/2018
15:33
Spooky , once you have an answer please keep us posted :)
12vic
16/2/2018
13:11
I will try to contact him next week. The debt and plans to pay it off will have a significant impact on the quantum of cash that is likely to flow to Ormonde, so it is important to have some clarification.
spooky
16/2/2018
12:14
Hi Spooky,

This came out of the 2017 AGM.
One of the posters on the board attended the meeting.

Paul Carroll is the CFO at Ormonde, so can probably provide more detail if you wanted to make contact.

12vic
16/2/2018
11:55
12vic - Thank you for that, can you tell me where they say, 'The all in costs of $180 MTU include debt repayment / servicing'. I can't see it in the interims, finals or the annual report.
spooky
16/2/2018
11:17
[...]

Excellent read

gotabsirius
16/2/2018
11:15
Some great posts on here. Keep it coming guys.
gotabsirius
16/2/2018
11:14
The vast majority of the project costs should be met the equity portion - approx. USd 45 million from memory, which is why Saloro should be able to move into a dividend paying scenario soon after production stabilises.
gosoftly7
16/2/2018
10:54
BTW I agree with RK that initial production only represents the tip of the iceberg for Barruecopardo, the historical material suggests that the mining and exploration concessions hold far more. The best evidence for this is the results of the last drilling campaign which clearly shows potential beyond open pit mining.
12vic
16/2/2018
10:44
Hi Spooky ,

Since July 2017 , Saloro have been drawing down debt and equity pro rata.
The 55 million provides contingency and is probably above and beyond what is likely to be needed. The debt facility is provided by Oaktree and is on flexible terms, so Saloro will only be using what it needs, when it needs it.

There is no published schedule , but if you have any concerns you could email Ormonde direct. They are very good at replying.

Five key points that might provide reassurance

1. The debt obligation sits with Saloro not Ormonde.
2. The all in costs of $180 MTU include debt repayment / servicing.
3. The arrangement is flexible, with potential for dividends to be paid alongside debt repayment.
4. If Tungsten prices remain high there will be headroom to clear the debt as quickly as possible
5. Saloro is majority owned by the lender Oaktree, so a favored position between lender and borrower.

12vic
16/2/2018
09:33
I'm just trying to work out when the project will be drawing down the $55.5m loan, Oaktree are charging 12% on that, so it has a pretty material impact on profitability if it is outstanding for any length of time. Has anyone seen any sort of repayment schedule?
spooky
16/2/2018
09:25
There is a commitment by Oaktree to commit up to 100m dollars / for as long as it takes to bankroll this project. The real excitement here is that the proven tungsten reserves in no way represent the Likely reserve numbers as this had to be done to satisfy a bank feasibility study at the time. Kerr (rip) believed the same again and possibly more is on that site which will take the mine well beyond the 9 1/2 year life.
roykeane2
16/2/2018
08:57
Is there a schedule of the loan drawdown anywhere, or an indication of plans for the repayment. Forgive me if this is somewhere obvious, i have just started looking at Ormonde for the first time.
spooky
16/2/2018
07:54
Why has CNBC ticker tape showing Ormonde dealt at 4cent yesterday?? Did it????
roykeane2
15/2/2018
23:46
The site is formerly the main tungsten mine used by Phillips who were the big user of tungsten back in the day with the filament in light bulbs. Now the industrial uses of Tungsten are more widespread(mining equipment and turbines). Most countries have a restriction on exporting tungsten, so this mine is special. It is right there on the surface and reserves have been proven all over the site. New deeper deposits are there in spades but the already proven reserves are already spectacular . Hope this gives a little colour
roykeane2
15/2/2018
23:04
OK great, cheers
gotabsirius
15/2/2018
20:42
In a nutshell, Saloro is now the Joint Venture Company for the Barruecopardo project, originally owned 100% by Ormonde. Ormonde raised project capital from Oaktree and ownership of Saloro is now split 70% Oaktree and 30% Ormonde. Nitty-gritty per the following:
steelwatch
15/2/2018
19:04
Most kind of you Steelwatch. A generous gesture to be sure!
I'm certain I'll be deposed fairly soon , but it will be a glorious time nonetheless.

12vic
15/2/2018
15:11
There you go Vic. I've awarded you 1/1000th of a +1 for that and the order of the green thumb. Your post
now takes pride of place below the header until such time as you are deposed! 🌝

steelwatch
15/2/2018
13:24
First year production. Basic figures

260,000 - 360,000 MTU (if they move to 7 day working)

All in costs $180 (capex / debt repayment / management fees) . These reduce if production above 260,000.

APT circa $320, Orm will be selling WO3 so will be priced lower dependant on achieved quality ( approx $280 )

So between 26 and circa 36 million total profit if price remains consistent.

Orm share of profit $7.8 - $10.8 million.

So this is the potential but clearly not priced in at this time. This will change as we get nearer to startup , particularly if APT price holds or climbs further as the chart would tend to suggest. The shares will get a real rocket should Saloro be able to confirm actual production figures as forecast. That's probably 12 months away but plenty of room for an increase prior to that.

12vic
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