Ormonde Mining Share Discussion Threads

[jbe81] 08/7/2020 18:24

Cjohn, from the lse thread slalom has sold his holding, should TA or any other buyer come in for more shares I think we can expect a rise in the sp

[cjohn] 08/7/2020 10:52

Yes, it was. Well spotted, jbe81!

This is very good news. Anderson's stake is above 17% now.

[jbe81] 06/7/2020 12:39

Looks like it was

[jbe81] 04/7/2020 12:02

Cjohn, you know the situation better than anybody.

The new director and Thomas Anderson buying is good news for the rest of the shareholders. Time will tell if it was his buy.

The question then becomes is he buying below cash value to liquidate the company , great news for guys buying at today’s prices . Or does he see more value in the listing, tax losses and purchasing power of the cash. Also great news for anyone buying at today’s prices. Am sure he has no intention of losing more money with Ormonde.

[cjohn] 04/7/2020 11:38

"knows something and has been given the knod"

Do you mean he or she had been whipped?

Or do you mean s/he is the beneficiary of inside information?

I seriously doubt the latter.

The buyer will have made the same calculation as any other investor: net cash of 1.5p per share; two mining interests in Spain worth a few million perhaps? Net tangible asset value per share 0f 2p+. A clear buy on asset grounds.

Against that, we have a board with a track record of incompetence and operational failure. They have just given themselves a share option award at a strike price below the value of net cash on the balance sheet, a graphic demonstration of their contempt for shareholders.


In my view, there is obvious value here, but all shareholders should stop being gullible and exercise their rights as owners. We are fortunate to have a new director with experience in wind up situations who will apply pressure on the precious board to act on behalf of shareholders, not fritter away the cash on salaries and share options.

[jimbob999] 04/7/2020 11:14

Someone with deep pockets knows something and has been given the knod by the looks of it. Fireworks monday? it could be imho. gla

[[e-mail]] 04/7/2020 09:25

I think it is lucky I brought a few

[stmellons28] 03/7/2020 18:54

Wakey wakey guy’s didn’t anyone notice a whopping 104k buy go through after hours?? Get ready for the fireworks Monday boom boom boom 💥

[cjohn] 01/7/2020 13:55

Yes, staggering incompetence.

[roykeane2] 29/6/2020 08:08

Agreed, still in shock at looking at Tungsten for ten years and when asked to mine they blew it not once but twice. Never dawned on them to get any Phillips team that knew every inch of that ground for an opinion

[roykeane2] 29/6/2020 08:08

Agreed, still in shock at looking at Tungsten for ten years and when asked to mine they blew it not once but twice. Never dawned on them to get any Phillips team that knew every inch of that ground for an opinion

[cjohn] 27/6/2020 09:55

Liquidation would be the desired outcome of myself and several other investors on here.

I have no confidence in the board's ability to realise value through operational success. They are merely going to fritter away the cash, to add to the huge existing loss at this firm.

The disgraceful option award to themselves at a price below net cash (and therefore even further below net tangible asset value) demonstrates that they also have no belief in their own ability to create shareholder value through operational success.

An option award would be fine, if the strike price was related to operational eps. But the board are aware that if the award was structured like that, they would be unlikely to obtain any shares through options.

If they are confident in the company's operational possibilities, they should be buying shares NOW in the open market.

I'd hope the new director can bring pressure to annul the option award and re-write it, along the lines I suggest here.

Secondly, I'd like a short timetable to wind up the company.

[12vic] 25/6/2020 10:38

Maybe I should have said recently officiated.

[12vic] 25/6/2020 10:34

Very interesting.I can see how this could work both ways, there is an opportunity to apply pressure on the company and oversight to the benefit of shareholders. Something that has been lacking for sometime here. The board traditionally has had little or no shareholding of substance themselves. I also see that one of the other companies this chap officiates is going through a liquidation process.

[cjohn] 25/6/2020 08:54

This is really good news.

Hopefully, from now on, there will be some pressure on the board to think of all shareholders and not just themselves.

[gb904150] 25/6/2020 08:15

Glad to see a new addition to the board courtesy of our activist shareholder Thomas Anderson.

Fair to assume there is now some alignment with delivering shareholder value!

[[e-mail]] 19/6/2020 14:49

im ok with 2p

[stmellons28] 19/6/2020 14:39

I got a feeling lift off is just around the corner. I know it’s been painful for sum but I feel so confident holding ORM at this price. I can’t see it dropping back to 0.65p but I can see it hitting 1.5p to 2p on news ?

[[e-mail]] 19/6/2020 13:56

just brought a few had to be in before the lift off.

[value hound] 19/6/2020 09:29

I guess it's because of a lack of trust after the recent options they gave themselves and the perception that they prefer keeping their jobs to handing back the cash and winding things up.

Anyway, I'm hanging on to see what transpires, but would happily sell at 1.2p.

[stmellons28] 19/6/2020 09:10

Why are people selling for small profit is beyond believe? We know what is coming & I personally wouldn’t want to be out of ORM over the weekend. I am happy to mop up these shares as the bigger picture for me is 2p

[bibdaddy] 19/6/2020 08:38

Cannot but 50k shares on II at the moment! Let's hope for some positive news Monday morning or later today fro the weekend press.

[value hound] 19/6/2020 08:36

Biggest move yet and no comments; WTF!? :-)

[stmellons28] 18/6/2020 10:37

I just did a dummy sell & I can sell my 17k worth sweet as a nut which is not like ORM, I tried buying more but no chance, someone wants these shares!!