Ormonde Mining Share Discussion Threads

[admiral jellicoe] 19/3/2018 10:11

Articles in FT and last weeks Bloomberg comment that European stocks in Tech and Commodities are under big sell pressure.The reason being is the trade war in which Trump is attempting to take on the rest of the world. Investors expect Europe to be hit hard.The G20 meeting is in Benois Aries next week, perhaps things will be sorted out by then?

[cyberbub] 18/3/2018 23:16

The only worry is in case 'someone knows something', either a placing or maybe some bad news. But volumes have not been particularly high on the drop, indeed there seems to have been plenty of buying late last week. The ongoing deal provides for operating costs for Ormonde, so there should be no need for a placing unless the company wants to buy some other assets maybe? Bad news - well who knows, that can happen to any company, it's part of the risk of investing - but there doesn't seem to be anything obviously going awry... far from it, the mine construction seems to be going fine... I am more tempted to think it's just a few people selling off for the tax year, plus a few stop losses being triggered at 2.5p and 2.0p... Give it a few weeks IMO...Good luck all, no advice intended

[steelwatch] 17/3/2018 12:18

Courtesy of:
Catchingpigeons on the LSE forum

Tungsten prices
Fri 17:35
As at 16/3
Ferro-molybdenum US 65-70% Mo, $/Ib: $14.00-14.50 per Ib from $14.20-14.50 per lb Tungsten European free market APT, $/mtu: $325-334 per mtu from $325-330 per mtu Ferro-tungsten basis 75% W Rotterdam duty unpaid, $/kg: $42-43 per kg from $41.85-43
Surely a giveaway at 1.95 one would think ..

[cyberbub] 16/3/2018 22:06

And another 300k shares went through. Is 2p support? Time will tell...

[12vic] 16/3/2018 14:43

Just put in another small trade, sub 2p seems to good a bargain.

[dolores123] 16/3/2018 11:39

Someone picked up 400000 shares at 1.96p. Bargain!!

[cyberbub] 16/3/2018 07:26

Agreed it's not a significant problem.

[terropol] 15/3/2018 21:02

Guys, wonder if the Fact that Noble are close to administration pushed our price down...
But even if we loose that contract, there will be plenty takers for the product.
Tungsten is in demand.

[cyberbub] 15/3/2018 17:56

Yeah it's clear as mud with trading taking place on multiple platforms....Perhaps someone just needed 20 grand for something? It's still a relatively small trade in the scheme of things, but being so illiquid has forced the market cap down by 50 times as much!

[admiral jellicoe] 15/3/2018 17:39

Nex showing a trade of 987,000 shares at 1.91Perhaps that's the answer, Morning shorting for the big buy in the evening?Who knows?

[cyberbub] 15/3/2018 15:58

I agree there's no obvious problem here... of course there may be some non-obvious problem that's been leaked to insiders... I tend to think though that it's just a combination of tax year selling, and illiquid-share trading, when small volumes cause big movements... there will have been stop-loss triggered at 2p also... my feeling is that we have hit a capitulation bottom below 2p... but WDIK?NAI

[12vic] 15/3/2018 14:04

The funding comes from Oaktree and there is budget for cost overflow so I don't think this would be a problem. There is more likelihood of the project coming in under budget and a chance that the whole loan facility won't be required.
An update from the company would of course be helpful to confirm .

[steelwatch] 15/3/2018 13:58

Some early sells on the NEX triggered the drop today, but small beer in the greater scheme of things:

[bazaoil] 15/3/2018 13:34

The share price should be a multiple of where it is now and heading northwards based on where we are on the build and the current APT price. Confused.

[sleveen] 15/3/2018 13:06

Dolores123

In the interims, the Oaktree monies are matched by the G&A expenses.

Any increase in expenses due to current build activity may not be entirely funded via Oaktree.

[12vic] 15/3/2018 12:54

I think 3p will be broken before then, there's still a 6+ month window to October. What's going on at the moment with the price I'm not sure I understand.

[admiral jellicoe] 15/3/2018 12:24

Not exactly sure what's going on, perhaps some are desperate to sell/ offload at any price they can get, or short selling going on?I was hoping with the momentum in November / December we would have broken 3p by New Year, however perhaps we will see 3p on production start up in October?

[12vic] 15/3/2018 11:51

The news hasn't changed, nothing to suggest any of the major holders have turned their positions. A few people have indicated the share can lack liquidity at times and this can cause spikes both ways.
Unless there is a published change in fundamentals, my dilemma isn't around holding, but whether to buy more.

[dolores123] 15/3/2018 08:50

Don't need a fund raise because we are funded by Oak hill.!!

[sleveen] 15/3/2018 08:42

A 4% mark down at the open, a bit of selling and its marked down to 9% loss.

Either there's a large sell being worked or the suspicion of a fund raise. Happy to hear any other explanations.

[steelwatch] 15/3/2018 08:35

Could be tax loss sales at this time of year.

[dolores123] 14/3/2018 10:56

Market cap still only 10 million!! Share price well under valued. Should be at least 6p at this stage in my opinion.

[dolores123] 14/3/2018 10:25

We could do with some publicity to help the share price higher!