Ormonde Mining Share Discussion Threads

[computercoders] 19/2/2020 13:35

Rising to cash plus 2 x assets level. Multibag from here

[computercoders] 19/2/2020 13:32

Maybe all who were in it for tungsten have left the building...going for gold now peeps

[alamaison5] 19/2/2020 13:30

Here we go. Sense has prevailed.

[computercoders] 19/2/2020 13:23

Ir buy at 1p+ your choice lol

[computercoders] 19/2/2020 13:23

Could have paid 0.65p earlier like I did to topup. Now it's 0.73p+ to buy. Either buy now or wait until 0.85p imo lol

[computercoders] 19/2/2020 13:22

0.73p paid and 0.75p about to go. I think we will end the day above 0.80p at this rate

[jibba jabber] 19/2/2020 13:20

Yes indeed it will, the only ones to miss out from down here are the mug punters who will be buying at 1.5p and above.

[computercoders] 19/2/2020 13:18

I'm quite convinced this will at least double from here shortly

[computercoders] 19/2/2020 12:54

What's the current free float anyone?

[computercoders] 19/2/2020 12:53

Every buy ticks price up. Must not be many shares in free float

[alamaison5] 19/2/2020 10:39

Indeed and this is why I'm buying in tranches.
Small amount first then every 7/10% lower from my original purchase.

250,000, 500,000, 750,000 and perhaps even more.

I have no doubt what so ever that the shares price will double in the next 3 months.

[jbe81] 19/2/2020 09:44

My guess is its a large shareholder who invested in a tungsten project who is selling, cant see the share price rising till they are out, but that should be soon. Once there are no shares in available share price will fly with buying, anybody that doesn't need to check the share price every 5 mins might see a buying opportunity.

[alamaison5] 19/2/2020 09:36

CJohn19 Feb '20 - 09:12 - 2553 of 2555
Current market value: £3 million pounds.

Buys 5 million pounds cash, plus two mining assets worth maybe two or three million.

ORM's net tangible asset value is £7-8 million.

So trading at under half tangible book value. The discount's exaggerated.



Cheers,

what the market wants is a direction. What is ORM next move...

What we want is the "forced seller" (we definitely have one), to stop dumping cheap shares.

[alamaison5] 19/2/2020 09:35

jbe8118 Feb '20 - 17:03 - 2550 of 2554
Cjohn , you are wasting your time, just a trader trying to talk he price down, spouting similar rubbish on twitter


You are an idiot as well as paranoid as I am invested in ORM.

Also, do you really think that small punters like us can affect the share price? Really?

[computercoders] 19/2/2020 09:20

Notice how sells hardly drop the price but any buy is at a premium. It would seem there's some very foolish people selling at sub 1.5p. Maybe they have gambled the rent money and now it's time to pay the piper.

[cjohn] 19/2/2020 09:12

Current market value: £3 million pounds.

Buys 5 million pounds cash, plus two mining assets worth maybe two or three million.

ORM's net tangible asset value is £7-8 million.

So trading at under half tangible book value. The discount's exaggerated.

[computercoders] 19/2/2020 09:00

Mad price...wow

[cjohn] 18/2/2020 17:07

It's crazy behaviour, if you're right, jbe81!

[jbe81] 18/2/2020 17:03

Cjohn , you are wasting your time, just a trader trying to talk he price down, spouting similar rubbish on twitter

[cjohn] 18/2/2020 17:00

Hello Alamasion "Unless a third party can confirm that "the Taxes from the sale was at a thumping...there will be no taxes, I will stick to my figures."

I can't understand why you'd need a "third party" to confirm this? Can you not simply read what the company themselves say?

From the information on the proposed disposal: "The value of the associate investment on the Company's balance sheet as at 30th June 2019 was €15,765,000."

[alamaison5] 18/2/2020 16:42

To be straight the VAT is the only part, as it is the most expensive, that bothers me.

Unless a third party can confirm that "the Taxes from the sale was at a thumping...there will be no taxes, I will stick to my figures.
Except, of course, the €5m which is, in fact, £5m.
Sorry.

[cjohn] 18/2/2020 15:45

alamaison5 "Value: €5m or £4,150,000/473,000,000 shares = 1.13p
1.13p minus V.A.T? Minus exchange rate at 2.5%(?)
1.13p minus commission from: -solicitors (?)?-banks (?)-
So, if all the above applies we're talking about 25%. Take this off from the original price of 1.13p.
And that gives you. 0.85p."



Dear Alamaison,


This is what the company said in the information on the proposed disposal.

"The €6 million net cash consideration is to be received by Ormonde in FULL on closing, currently expected to be around 14th February 2020 (subject to passing of the resolutions at the EGM)."

On the 17th Feb, they confirm they have received 6 million euros. (NOT 5 MILION EUROS. This is a basic fact: get it right!)

- You mention the exchange rate: the company operates in Euros. The payment was in Euros. There are no exchange fess.

- Taxes: the sale was at a thumping great loss. there will be no taxes! In fact, there will be tax losses carried forward, I imagine.

- bank transfer fees. These are paid by the SENDER of the money. The announcements make it absolutely clear that they have received 6 million euros NET.

Do your figures again. You have materially understated the position by not bothering to read the announcements.

[alamaison5] 18/2/2020 13:30

What's happening right now?

Well, all these punters who bought in hoping to make a quick return are now becoming very impatient.
Obviously everyone is disappointed with the share price action, and some will sell.

What the clever ones are doing?

Lurking in a dark corner waiting for these disappointed punters to sell.
Ho yes, these punters will destroy furthermore the little value left in the company.

When done, a week, 10 days(?), the clever ones will start buying.

Value: €5m or £4,150,000/473,000,000 shares = 1.13p

1.13p minus V.A.T? Minus exchange rate at 2.5%(?)

1.13p minus commission from: -solicitors (?)?-banks (?)-

So, if all the above applies we're talking about 25%. Take this off from the original price of 1.13p.

And that gives you. 0.85p.
As you know, MMs will always apply a discount to any share price.

I'll say the real value of the deal/share price is .8p or 14% under the ASK.

Then you can ad any other assets and cash to that price.
Bear in mind that the cash was miserable at the time, around £200,000 (if I remember).
So what extra value can we attribute to the share price?

I am not ramping/de-ramping ORM. This is an honest opinion. I am sharing my research and willing to revise my numbers according that you bring more data that can be verified. No just throwing in thoughts and feelings.
For example, I have put a ? where I am not certain of my research. The VAT. Can one verify? I am in the process of doing so.