Ormonde Mining Share Discussion Threads

[jbe81] 23/9/2020 17:15

750k wanted in auction yesterday, 1million today

[jbe81] 22/9/2020 13:54

Looks like T Anderson has another buy order in, madness to sell at these prices

[cjohn] 16/9/2020 09:10

There's no doubt in my mind that that's the best option! Find buyers for the assets that they already have and return cash. It would certainly produce a handsome return for those of us who invested since the sale of the tungsten mine.

In view of their previous operational blunders, I seriously doubt their ability to make an success of any new asset acquired.

Having said that, at least, it appears they have made some progress towards monetising La Zarza. it's the only positive note I can find in the update.

[pugugly] 16/9/2020 07:37

Roughly valued at cash - Given managements previous failures suggest liquidation and return funds to shareholders might be the best way of recovering funds -

[astubbs67602] 16/9/2020 07:21

Has anybody got any idea what project they are looking into?

[buywell3] 05/9/2020 00:57

But getting well ramped by some

[henry1010] 25/8/2020 21:39

Any idea why it's down big today?

[jbe81] 19/8/2020 17:03

Fully expect T Anderson to carry on buying in the next month

[cjohn] 18/8/2020 07:08

He already has a representative on the board.

[lazygun] 17/8/2020 14:45

What’s the betting that TA gets his pet NED on ORM board to persuade them to take a stake in Karelian diamonds.....

Wouldn’t surprise me in the least....

L.

[cjohn] 12/8/2020 09:14

aaogplc6 Aug '20 - 22:38 - 2784 of 2784

Unlikely. Cash flow difficulties due to COVID and very exposed in Tunisia


You are on the wrong board. ORM has no interests in Tunisia, nor any cash flow difficulties.

[aaogplc] 06/8/2020 22:38

Unlikely. Cash flow difficulties due to COVID and very exposed in Tunisia

[malcontent] 06/8/2020 18:43

Ye Gods!
A blue day!
Is this sleepy Simon waking up?

[cjohn] 06/8/2020 13:27

What is it you think you know that everyone else on here doesn't?

That the management are self-serving and incompetent. Everyone knows that: I'm invested here, in spite of that. That TA is out for his own interests. This is not news to anyone either.

Is there anything else? Personally, invested at an average of 0.65p, there is moderate risk - the board fritter away the cash on daft operational decisions, but potential significant upside, if value can be extracted.

[buywell3] 06/8/2020 09:26

You guys are having your weanies pulled

Did you realize ?

[omegadog] 05/8/2020 10:30

Why is this company not benefiting from the high gold price. Surely the share price should be increasing should it not?

[jbe81] 29/7/2020 09:55

Its interesting that in the last few days there have been a few million shares sold without the share price dropping. Suggests to me T Anderson might have an order in. Time will tell

[cjohn] 28/7/2020 15:04

Thanks, 12vic, for the very interesting posting re value at La Zarza.

As a matter of conservative valuation, I give merely cost value to La Zarza. (May not be conservative enough, in view of management's track record.)

As you know, the overall market attitude to ORM is to apply a large discount to net cash, let alone operational possibilities. Unfortunately, the management's self-award of options below the value of net cash on the balance sheet has cemented the general perception that the board are greedy and not very competent.

Still, there's a lot of negative assumptions factored into the current share price. So, if anything does go right, these will produce a handsome return from present value.

[12vic] 28/7/2020 10:29

Def a shortage of stock. Market currently offering to take million+ vol sales.
More background accumulation.

[12vic] 27/7/2020 13:00

More through luck it's served me well before.

[12vic] 27/7/2020 12:57

So they paid 2 million euros when they took control of it in 2008. The feasabilty work will have added value and when gold was circa £1000 an oz they went to due diligence on a sale at 5 million euros. The potential purchaser Nueva Tharsis and third parties backed out for reasons unknown. Gold is now around £1500 an oz which probably gives this asset considerably more support than previously.It is quite likely that had gold been at these levels in 2013 the project would have been seen as a runner by the then management rather than one to divest.I hear what your saying about any sale would do as it adds to the cash pile. Which currently seems to be the companies main attraction. There is also an option to get an earn in which would retain other cash but potentially give the business some development meaning again at reduced risk to the cash pile. Maybe la Zarza remains a white elephant but there is still interest and resurgence in the huelva mining district.One way or another the lack of news from the company suggests more of an internal struggle than any defined direction. Still I've come back for another go on this one.

[cjohn] 27/7/2020 12:05

Yes, La Zarza's probably worth a few million. Two?

Best option is a sale.

No confidence in the current board to bring it to operational success.

[12vic] 27/7/2020 11:01

Accepting the 5 million in the bank.I guess the whale that is overlooked is La Zarza. It's been confined to history off the back of Antifagasto pulling out in 2012 and Ormonde not feeling it was economical in 2013. The project had a feasabilty study, the difference now is gold currently 600 dollars an ounce higher. They came close to a deal for 5 million euro sale in 2013,

[cjohn] 09/7/2020 10:24

I can understand why Slalom sold out! No trust in the board to do the right thing.

I remain a holder though. I think value will out one way or another.