Ormonde Mining Share Discussion Threads

[cyberbub] 07/12/2019 11:28

Looks like I was right... 400k bought anyway...Let's see if this level forms support again... or not...

[cyberbub] 06/12/2019 11:16

500k sold at 1.90p... There must surely be an equivalent buy at 2p to be printed?

[paulwinter10] 05/12/2019 17:06

Thanks Steelwatch for your report. £2.8m for a mine that still has life in it is very low money. It will be interesting to see how Ormonde at £.02 a share will perform over the new year and into the spring.

The lady in the Karmozov Brothers by Doesteveski offered great encouragement to the elder brother to get into mines and that is where he would make his fortune! His other book, The Gambler, written in 1860 and translated 20 years later is well worth a read as well! Some of the old authors are still the best reading.

I must be off soon, as my kids do life-guard training on a Thursday evening.

Kind regards,

Paul Winter

[steelwatch] 05/12/2019 13:48

Wolf Minerals (WLFE LN) – LIQUIDATION

The Liquidators of Wolf Minerals has sold the Hemerdon tungsten mine in Devon to Tungsten West Ltd for £2.8m
Tungsten West is now taking control of the mine and will pay Hargreaves Services £1mpa to continue to work at the mine for the next 8 years.
Hargreaves’ subsidiary Drakelands Restoration Ltd has maintained the site preserving value while the liquidators found an acceptable buyer.
The sale should enable the mine to restart unencumbered by debt from the heavy capital cost of the project.
The deal creates the opportunity to restart the mine restoring jobs and creating earnings potential in the medium term
At least two of the directors of Tungsten West Ltd are involved with Baker Steel Capital Managers, a specialist mining fund manager, based in London
Tungsten prices are still relatively low, though we expect prices to recover as automotive manufacturers retool car plants for new ranges of Electric Vehicles and as governments commission significant new infrastructure projects as a method to restore economic growth.

[steelwatch] 02/12/2019 11:12

SP Angel confirmation this morning:

Tungsten APT European US$225-245/mtu vs US$225-245/mtu

[steelwatch] 30/11/2019 13:55

Looks like APT price unchanged again:

[admiral jellicoe] 30/11/2019 13:51

WRT the level of Debt held etc....

My understanding is approx. 60 million USD and not 100ml.

Phase 1 of the mine required approx. 49 million USD to get going. There was a 10 million 12 month loan top up at 18%, taking us to 59 million or so.

There is a further 50 million available in the kitty from Oaktree if required, but this is for phase 2 in the future.

I'm open to correction on my interpretation above, however as I see it... we are approx. 59 million level of debt for Saloro.

[vish65] 29/11/2019 11:34

NPV @ 8% was €120m so say £100m. At 30% = £30m to Orm. But that was at us$350 for tungsten. Now its around $225. LOM operating costs €99 mtu. = $110 but at the moment could be anything due to unexpected low grades and extra waste stripping due to old mine workings and the usual start up problems and extremely long start up time

£10m mc is pretty generous.

[gosoftly7] 29/11/2019 08:21

Looks fair to me Cy.

Orm need to start issuing proper information, not the Mickey Mouse releases they currently do. The reason for this of course is that the start-up has been horrendous, and they only want to submit a detailed report when everything is running smoothly. That however is taking an extraordinary amount of time.

When they do issue an RNS with everything back on track, positive cashflow etc then the share price will start to re-rate.

[cyberbub] 29/11/2019 07:11

ORM market cap £10M. We own 30% of Saloro so the implied cap of Saloro is £30M. Saloro holds a load of debt, I approximated it to $100M after the recent increase = £80M. Therefore enterprise value of Saloro = 80 + 30 = £110M. Just a quick and dirty figure but have I got anything wrong?

[francesco206] 28/11/2019 12:29

He’s getting it from his Crystal ball Doll!!

[dolores123] 28/11/2019 11:54

Sorry where do u get 30m from and all that debt - salaro?

[cyberbub] 28/11/2019 11:02

PS I am still holding

[cyberbub] 27/11/2019 18:33

So the implied cap for the whole company is £30M. Plus the debt of course, so enterprise value is perhaps more like £100M for the whole company? That's why the share price is so low effectively. As the company hopefully enters profitability and starts to pay down the debt over the next couple of years, the share price should rise considerably. But the risk is that with so much debt, they can't afford too much to go wrong... hence why the news that mining startup has been less than ideal, is weighing on sentiment. Over the next few months we need either the tungsten price to make a firm move back towards $300, or else news that the high grades have been hit. Barring either or both of these taking place, the reality is that the company will be in a precarious position financially - there's no point pretending otherwise. The share price tells a story. GLA DYOR etc

[dolores123] 27/11/2019 15:38

Market cap only 10m!!!

[paulwinter10] 25/11/2019 15:12

Anyone want a stock market tip? Ormonde mining started selling tungsten and we have a state of the art mine, environmentally friendly in a stable country called Spain! At £.02 cents a share, why not put €200 on it and it possibly could increase 10 fold this year?

My cash reserves are low at the moment, but hopefully I will increase my investment in Ormond in the coming year.

Kind regards,

Paul Winter

[jbe81] 25/11/2019 12:34

Surely a great buying opportunity if you think the price of Tungsten will improve

[steelwatch] 25/11/2019 11:39

SP Angel this morning:

1. Tungsten APT European US$225-245/mtu vs US$225-245/mtu

2. Conclusion: Initial concentrate sales from Barruecopardo indicate that the new plant is producing concentrates to a marketable specification and that the operation can now build production to the planned 260,000mtu rate. The impact of the undocumented historic workings now seems to be largely passed although mining schedules and mine plans are being adjusted to accommodate the effect.

[12vic] 25/11/2019 11:13

Merry Christmas Anynews

[anynews] 25/11/2019 09:58

Usual cheerleader's out today - just keep buying the stock you guys.More disastrous news flow with no information as usual. Merry Christmas from Ormonde.

[bazaoil] 25/11/2019 08:56

Agreed. Confirmed first sales in decades. Ramping up. Yes they are coming up against some old tailings but show me a mine that doesn’t come up against something. They should be singing the sales from the rooftop and the share price will rise accordingly.

[dolores123] 25/11/2019 07:57

The good news is that sales are being achieved in the form of 20 ton shipments so cash flow is improving. Onwards and upwards now.

[gotabsirius] 25/11/2019 07:32

Impact on reserves is likely to be slight as its just a tiny area in context of the larger mine. Still disappointing that first sales are being undermined by this news

[pugugly] 25/11/2019 07:28

Not good news -


No indication as to whether resource has been demished by the backfill.

[mip55] 25/11/2019 07:09

Sales, but more delay!