Ormonde Mining Share Discussion Threads

[walkerjameswalker] 01/12/2020 14:50

Red day today..Profit taking perhaps?

[deanmatlazin] 30/11/2020 10:02

Christmas pressie on Thursday? Acquisition news probably on the way.

[juju44] 30/11/2020 09:58

Getting some legs here now

[jbe81] 27/11/2020 14:05

Should be moving up, cant buy anything, would expect some buying leading up to agm

[deanmatlazin] 25/11/2020 14:27

Hoping for acquisition news next week.

[12vic] 21/11/2020 16:55

The share price is at cash it applies no value to the other assets or the value of the previous losses going forward. La Zarza as a package previously went to due diligence with a sale price of circa 5 Mill but did not complete. Even if they were to dispose at a lower price, there would be a significant increase in cash.
The huge potential is that we are cash rich in a sector where other similar companies sit with good projects but struggle to raise money. This is ripe for a deal be it take over or some kind of jv equity arrangement.
We also have a single investor with access to the board and confident enough to continue building their holding,
Hopefully the Agm provides some direction.

[juju44] 21/11/2020 15:53

So where is the"huge potential " other than the tax losses

[nash81] 21/11/2020 15:31

next week will be interesting. maybe will see some renewed interest to buy at this level before agm

[12vic] 20/11/2020 16:40

Until the company finally lays out a plan, its basically a cash shell with some mining assets thrown in and the potential benefit of many millions of accumulated losses. The twist is the interest of the major shareholder which we can only guess at. There is huge potential here, if they have finally got there act together will move quickly. Just be nice to have a published intention with some substance.

[paulwinter10] 20/11/2020 10:11

I sent in my voting paper last week for the AGM. No zoom meeting, so I can just listen in to the proceedings. Nothing really unusual on the agenda.

However, a potential announcement may be imminent! Gold at all time high. Tungsten mine sold off at an opportune time before Covid struck and the downturn in the world economy. Tungsten also remains dirt cheap, so it was a good time to sell the tungsten works.

I must look up Tharsis. Are they quoted on the London Stock Market? Are Rio Tinto seriously thinking of investing of making an offer to the shareholders for Ormonde?

Tom Anderson has a big bank account, and is just toying with this company in hopes that it will become a multiple bagger!

Yours sincerely,

Paul Winter.

[sheeponwheels] 20/11/2020 08:23

Been a quiet few days in here.How's everyone feeling about ORM?

[rostallagh] 13/11/2020 19:22

Rio could be on the table?

[12vic] 13/11/2020 12:40

There seem to be plenty of questions that need to be answered before we can understand the way forward.

Firstly around the major shareholder who now holds 21% and looks like he intends to increase. It would be good to have some reassurance of the intentions here, is it to work with the board because he believes in their plans going forward or does he see a different purpose for the company?

Secondly from the company, really very little of substance being put on the table beyond a mystery opportunity being evaluated.

If we are looking at some kind of jv around current assets ready to go then that can only really be La Zarza. The partner here would probably have to be Tharsis Mining by default. The other assets we own are still very early stage development projects and tied in to joint ownership agreements.

There is huge potential from here,through the cash assets and the other holdings all it really needs to take off is some clear direction.

A tie in with Tharsis would make sense as they are cash rich have a specific interest in La Zarza and are committed to fund mining in the region.

My gut feeling is that something else is on the table though.

[rostallagh] 12/11/2020 18:56

I think maybe Henry you are looking at the wrong value, tungsten, that’s past tense since January. Gold is the valuing article now. Gold is rocketing

[henry1010] 12/11/2020 16:05

Ormonde was set to be valued at 12-15 cents upon successful commissioning of the tungsten mine, according to Davys. I very much doubt that these gold prospects, which were a mere afterthought for Ormonde for many many years, are about to generate the value you speak of, at least in the near term.

[rostallagh] 12/11/2020 10:53

Yeah that’s what it said. Do you know of Rio tinto?

[henry1010] 12/11/2020 08:40

Apparently

[rostallagh] 11/11/2020 21:05

Yeah apparently as per a report on Thursday 5/11/20 an Australian company called Rio Tinto(???) are looking at the business now

[henry1010] 10/11/2020 14:08

Ok it wasn't a typo. Your out of your noodle if you think this is going to 8cents to 10cents in the next year or two.

[cjohn] 10/11/2020 12:56

Sheeponwheels9 Nov '20 - 17:05 - 2900 of 2901
0 0 0
Awesome advice, thank you so much! I'll defo hold onto them and watch what happens.



You're more than welcome. I can remember my first hesitant steps into investment!

I was fortunate to make just about every conceivable error when I started; so don't feel discouraged, if things don't fall right for you at the beginning. Investment is a sphere of activity where experience is very important.

[nash81] 10/11/2020 11:21

we will probably get news before AGM.. time to buy imho

[sheeponwheels] 09/11/2020 17:05

Awesome advice, thank you so much! I'll defo hold onto them and watch what happens.I'm 25 and it's only money from an old employment pension that I didn't realise I had, so if anything goes wrong it isn't the end of the world.However, I'd absolutely like to see this rise!

[rostallagh] 09/11/2020 16:42

Jeez Henry your Maths, where o where were you educated?

[cjohn] 09/11/2020 14:31

Sheeponwheels9 Nov '20 - 08:59 - 2894 of 2896

I've bought 177,000 shares in Ormonde @ 1.40. Currently sitting - £450ish down.

I'm new to trading, but after reading about this company and looking at past share price, I couldn't understand why the price was so low.

What are your thoughts? Hold out and ride the wave or cut my losses?



ORM is not a good share for "trading", because it's often illiquid and the spread between buy price and sell price is wide. This means if you buy one day and sell the next, you will make an exaggerated loss.

The fact that the price was once a lot higher is not a reason in itself to buy. The share price went down to around 0.5p, because of the operational failures of the board. The tungsten mine was completely mis-handled and sold at a big loss.

Currently, the assets of the company are worth perhaps 1.5 - 2p per share. (This gives no negative value for the past dire operational history of the company.)

If I was in your shoes, I would hold! It makes no sense to sell just after you've bought, simply because the price has gone down. There have been no developments since you bought. Nothing significant has changed.

If you want to become a serious investor/trader you need to get used to sitting on losses. No one has perfect timing or anything close to it. It's really important to become emotionally detached about loss, otherwise you will suffer too much.

I hope this is of some help. Have a great day and best of luck with ORM and your other investments.