Ormonde Mining Share Discussion Threads

[12vic] 12/10/2020 09:25

Anyone struggling to buy or sell this. Broker not taking trades either way.

[jbe81] 12/10/2020 09:21

Stale bulls getting a good opportunity to exit. Bodes well for a rerate IF they release positive asset news, very few free shares about

[terropol] 12/10/2020 09:03

CJOHN, for the record, the company had 5.6m Euro in cash at end of June. Cash burn looks to ke kept at a low level. The company owns the freehold of
the copper project. With copper price going up the project could take someones intrest.
The shareprice move indicated positive news to come.
See how we go.

[jbe81] 12/10/2020 08:27

Volume picking up

[cjohn] 12/10/2020 08:17

At last update, 5 million euros net cash = 4.5 million sterling, which is about 0.95p per share.

They will have burnt some cash since the update.


Although they say that they have moved forward on selling La Zarza, as no details were given in the update, I take that with a very large pinch of salt. So don't expect any addition to cash in the near or medium future.

Note net cash no longer covers the share price. However, net tangible asset value is still around 2p per share.

I hope this helps.

[henry1010] 11/10/2020 21:52

What is the cash value of this turf again? 1.2?

[cjohn] 11/10/2020 14:59

PAULWINTER1010 Oct '20 - 17:33 - 2813 of 2813

Hopefully we are on a roll! There must be some announcement coming soon.




No, there needn't be any announcement.

The share is trading at a significant discount to assets and has around 5m euros of net cash on the balance sheet at last update, against a current market cap of just over 5 million sterling. There is also a possible catalyst to value in the involvement of Thomas Anderson who after his recent purchases holds 21.96% of the company.

Against those positives are the dismal operational record of this company - gifted at destroying value - and the enthusiasm of directors to put their own interests ahead of other shareholders, with disgraceful share option awards.


Also bear in mind, they are intending to launch an acquisition: most acquisitions destroy shareholder value. Minority shareholders can only pray that directors show more ability in acquiring a new company than running the company they already direct.


I remain a holder here, though on Friday, when there was good liquidity, I sold shares held in ISAs for relatives, who have a very different risk profile to mine.

[paulwinter10] 10/10/2020 17:33

Hopefully we are on a roll! There must be some announcement coming soon! I am looking forward to a lively AGM on zoom in November! The rare metals sector is certainly lively and interesting to the small punter.

I am also into shares in cancer research and research on rare diseases. CGen in Israel has increased 300% since I bought a small amount of their shares on the NY stock exchange. Some cancer research shares I hold have plummeted.

I like lively banter on the way up, but not so on the way down!

Kind regards,

Paul Winter.

[trad3m3] 10/10/2020 14:29

3.175 in 1-3 months.

[jbe81] 10/10/2020 08:36

Looks more like PI buying than TA at the moment, if a deal is close he could well be inside.

[juju44] 09/10/2020 16:10

T Anderson stake increase

[jimbob999] 09/10/2020 16:06

Nah just an ORM pump and dump

[malcontent] 09/10/2020 15:19

RNS coming? or just taking its speculative turn on the roundabout?
holding so happy to see it but I can't see a reason?
any views?

[paulwinter10] 09/10/2020 14:15

Hello, What's the news, people? I missed any announcement! I would like to know what as the optimism is about!

[sportbilly1976] 09/10/2020 12:09

gap fill to 1.75p

[juju44] 09/10/2020 11:47

Took a punt

[rakepat37] 09/10/2020 11:32

Volume picking up ... let get to fair value of 2p

[terropol] 09/10/2020 08:38

WE are trading well below assetts, any change of sentiment and 2-3p easy target short term.

[rakepat37] 09/10/2020 08:23

Trades not showing this morning ... this will move up quickly

[jbe81] 29/9/2020 10:22

Daar

Significant discount to cash.
Shareholder with over 20 percent of the company increasing his stake.
Potential news of asset acquisition.
Potential revenue from asset sales.

[terropol] 29/9/2020 08:22

daar, discount to cash value.

[daar] 28/9/2020 22:42

Hello guys! Anyone has buy case bullet points please? This seems cheap at the moment

[jbe81] 28/9/2020 14:38

T Anderson should be releasing a holdings rns soon