Ormonde Mining Share Discussion Threads

[hedgehog 100] 09/3/2020 11:17

CJ,

Putting a few/several £K. into a relatively illiquid penny share should be viewed as more significant than putting the same amount into say a FTSE 100 company.

A more significant sign of confidence.

Because of the generally greater illiquidity and risks of penny shares.

[cjohn] 09/3/2020 11:10

Now I'm feeling sad. I'm not a titan of finance.

But I am at least a rockstar of finance.

In any case, it's not all relative. Absolute amounts matter too.

And the amounts you're talking about are piddling.

[hedgehog 100] 09/3/2020 11:09

ORM Director/PDMR share buying RNS today.

ORM's FD has bought 1,500,000 ORM shares, at a price of 0.7 Euro cents: that's about 0.61p.

09/03/2020 07:55 UKREG Ormonde Mining PLC Director/PDMR Shareholding
"... Name Paul Carroll
... Position/status Chief Financial Officer
... Nature of the transaction Purchase of Ordinary Shares
... 0.7 Euro Cent 1,500,000
... Date of the transaction 5 March 2020"

[hedgehog 100] 09/3/2020 11:04

CJ,

It's all relative, isn't it.

Some people will just invest a few hundred pounds into a penny share.

And with some penny shares, you could build up a notifiable interest (i.e. over 3%) by investing just a few £K.

But that wouldn't make you a titan of finance.

[cjohn] 09/3/2020 10:49

I am a very simple person and 2750 pounds seems to me to be a tiny amount. But every buy I've made has been "big" according to you. I hadn't realised I was such a titan of finance.

[cjohn] 07/3/2020 17:51

Hedgehog 100: "And interesting to see big half million share buys here at ORM today."



Half a million shares at current share price is around 2,700 pounds……

So, another way of putting it is, there were a few tiny buys at ORM today.


Still, I'm very glad to see you coming round to the idea of winding up the company. It really is the best course of action. And I hope you add your shares to the cause.

(You will be able to invest the funds received in future mining projects at other companies where there will be a much better chance of operational success than at ORM.)

[hedgehog 100] 07/3/2020 11:33

Computercoders,

All market panics pass, and people then kick themselves at the mouth-watering opportunities they have missed, which will be the case with the 'coronavirus correction'.

China's draconian quarantine and containment measures appear to be working, and it has seen new cases of the coronavirus slow.

And the fact that we're moving into spring should also help.

From The Guardian today:

"Coronavirus: nine reasons to be reassured

Yes, Covid-19 is serious, but context is key and the world is well placed to deal with it

Jon Henley
@jonhenley
Sat 7 Mar 2020 05.00 GMT

... it is worth remembering the world has never had better tools to fight it, and that if we are infected, we are unlikely to die from it.

Here, courtesy of a number of scientists but mainly Ignacio López-Goñi, a professor of microbiology and virology at the University of Navarra in Spain, are what might hopefully prove a few reassuring facts about the new coronavirus:

• We know what it is. ...
• We can test for it. ...
• We know it can be contained (albeit at considerable cost). ...
• Catching it is not that easy (if we are careful) and we can kill it quite easily (provided we try). ...
• In most cases, symptoms are mild, and young people are at very low risk. ...
• People are recovering from it. ...
• Hundreds of scientific articles have already been written about it. ...
• Vaccine prototypes exist. ...
• Dozens of treatments are already being tested. ..."

[computercoders] 07/3/2020 11:02

I agree with you Hedgehog this could have dropped much lower in these markets but it hasn't..i'm not currently in anymore but am tempted bacj in as 0.55p is a steal imo

[hedgehog 100] 06/3/2020 16:20

Thanks Slalom.

If ORM wish to defeat the proposal, they will have to put forward a sufficiently attractive alternative to defeat it.

[slalom2] 06/3/2020 16:06

I've proposed following gloster's advice on the ORM board on LSE to force management to call an EGM to vote on returning all funds to shareholders through a special dividend. This would see the sale of all assets and closure of the company.

I now have received close to the required 5% commitment, to contact Ormonde management with this demand. For those of you who want to pursue this motion of selling all assets, issuing a special dividend and winding up the company, please read the posts from gloster on the approach. Email me at [e-mail] if you want to commit.

[hedgehog 100] 06/3/2020 16:02

Rubbish!

Firstly, the general posting has been more negative than positive on LSE.

Secondly, the ORM share price has hardly moved today.

And thirdly, nearly 2 million ORM shares were bought today, far more than the amount sold.

The FTSE 100 has corrected about 15%, and most penny shares have fared even worse.

But as a cash-rich shell, with gold property assets, ORM is a relatively safe haven in these challenged markets.

[texaschaser] 06/3/2020 15:55

Usual ramping suspects on LSE. Beware. Pump then dump. I was right.

[hedgehog 100] 06/3/2020 15:52

Maybe some big share holders have approached the company about the liquidation option, and it's being seriously considered.

Perhaps that's behind the big half million share buys today.

[hedgehog 100] 06/3/2020 15:49

LSE % Gainers Top Lists
EPIC Name %
EZH Easyhotel +14%
ORR Oriole Resources +14%


You can tell that it's a bad day in the markets when the top riser is up just 14%, with under an hour of trading left.
And that's out of over two thousand shares.

ORR are a close second.

If ORM did liquidate we could double or treble our money from current levels.

ORM's gold assets could go to ORR, which may be getting some sale cash soon.

[henry1010] 06/3/2020 15:41

Somebody get out a fog horn and explain to the directors to go do one and liquidate the company.

[hedgehog 100] 06/3/2020 12:24

Excitement at ORR is increasing, with speculation that good news has leaked.

And interesting to see big half million share buys here at ORM today.

[hedgehog 100] 06/3/2020 12:07

ORR is currently top of today's biggest risers board, up 32.8% (to 0.385p).

ORM could be next.

[cjohn] 05/3/2020 12:49

Ok, thank you very much, jbe81.

Just replied.

I'll read the lse board too.

[jbe81] 05/3/2020 12:20

cjohn, sent you a private message.

[jbe81] 04/3/2020 18:45

Cjohn, do you read the lse Ormonde thread?

[cjohn] 04/3/2020 18:25

Hedgehog 100

"It's excellent what ORM are doing: focusing on the future, to build shareholder value, as ORM has in the past before bad luck intervened."

All companies are supposed to be interested in building shareholder value! Nothing excellent about that!

Sadly, many small companies, like ORM, show a marked talent for doing the reverse.

I can't believe you're repeating the sad nonsense about the "rockstar" board. I see nothing in common between Lady Gaga and this new director who you are so enthusiastic about. The last thing we need is directors who are convinced of their brilliance: Such individuals tend to award themselves lavish perks and pay.

I appreciate your irrepressible optimism, but please spare us the puffing and brown nosing of small company directors.

[hedgehog 100] 04/3/2020 16:31

The company is considering a number of initiatives that it believes can add value, and I believe that news on these could deliver a strong rerating upwards.

17/02/2020 07:00 UKREG Ormonde Mining PLC Completion of Disposal
" ... Commenting on the completion of the disposal and the subsequent Board changes, Jonathan Henry, Executive Chairman, stated:
"Following completion of the Barruecopardo disposal and receipt by Ormonde of the EUR6 million proceeds, a number of previously proposed Board changes can now take effect. ...
With the new Board in place, we are now fully focused on taking the Company forward into its next chapter and are already considering a number of initiatives we believe can deliver value to the Company and its stakeholders." ... "



And we are in a gold mining sector bull market, with a "rockstar board".

From Proactive Investors recently:

"Ormonde appoints new rockstar board, following disposal of Barruecopardo
Ormonde retains some promising exploration ground at La Zarza
Alastair Ford
08:09 Mon 17 Feb 2020
... Jonathan Henry, previously a non-executive director, is appointed executive chairman, while Tim Livesy and Richard Brown are appointed non-executive directors.
"I believe that Tim and Richard's extensive experience and contacts in the resource sector will assist the company greatly in its future development," Henry in a statement.
Livesey is currently running Oriole Resources and is one of the powers behind Minexia, which runs fundraising platform NR Private Market. Brown was formerly chief executive officer of Gabriel Resources.
And Henry himself is no slouch. He has run several companies over the years, including Avocet Mining and is currently non-executive chairman of Giyani Metals Corp (CVE:EMM). ..."

[hedgehog 100] 04/3/2020 16:26

'Cash is king', and that's even more so than usual in depressed markets.
And ORM's cash burn should be relatively low at the moment, as it's not currently engaged in mining operations, and it will be earning interest on its £5M.+ of cash.

It's excellent what ORM are doing: focusing on the future, to build shareholder value, as ORM has in the past before bad luck intervened.

And I'd expect an update - and perhaps even multiple updates - this month.

10/02/2020 07:00 UKREG Ormonde Mining PLC Directorate Change
" ... It is our intention, in the short term, for the new Board to work together with executive management to build a fresh and exciting vision and strategy for Ormonde, absolutely focused on value creation for shareholders including, if appropriate, through the pursuit of M&A opportunities." ..."