Ormonde Mining Share Discussion Threads

[flughafen17] 09/4/2021 11:47

ORM was 3.4p in January, now 1.3p to buy, a great opportunity, low float means fast price action !

If the 21% shareholder is in above 2p then it's a no brainer buying at 1.3p, bet they will not sell you many at the current price point though.

[silverspoon2009] 09/4/2021 09:38

I think folk are now realising that the deal was not the best after all and are buying back in ahead of some new corporate activity be-it from Anderson or the BOD who have to deliver something PDQ.

The clue was surely in the statement issued by ORM directors on 14th January where they suggested the licence owners could not move the project forward because they could not find a financier or words to that effect.


'License holders who have been unable to provide meaningful investment in the Licences in recent times'




If it was such a great project it is fair to ask why the owners could not find a suitable partner?

The Congo is no panacea.

[broken_arrow1] 09/4/2021 07:32

Hardly any stock available right now, only £3k before it moves up, seems someone wants the shares.

[silverspoon2009] 09/4/2021 07:20

The Congo has been a graveyard for a number of AIM outfits for sure, interesting stuff Flughafen, it does look like Anderson has been prudent in stopping the deal, hopefully he has something else in mind.

I bought in yesterday, I do believe there is value here at current levels, can see this returning to 2p at least, it seems the large shareholder has an average north of 2p also.

[flughafen17] 09/4/2021 07:00

ORM posted a historic ASX document about the proposed deal in the Congo, but try finding anything about Aus American Mining online now.




However it was also very revealing.....

What happened to Aus American Mining (ASX:AIW) they went bust, their Executive Chairman was Peter Laudau




The internet searches about PL are hardly glowing are they....


'It gets worse and worse for Pirate Pete Landau, formerly boss of a range of AIM dogs including Range Resources (RRL), all of which he fleeced via is Okap Ventures vehicle. At the weekend I served up a document showing that the Pirate stands accused of forgery, fraud and half inching A$2 million'



There is very little about the proposed deal online but one wonders why the vendors could not attract funding for it. Except of course from the BOD of ORM, no doubt Thomas Anderson had done his due diligence and did not like it !!

[flughafen17] 09/4/2021 05:48

Thomas Anderson has done all shareholders a big favour by blocking the proposed deal, did anyone really believe current management would have delivered shareholder value in the Congo, think about it long and hard.

Wait for the next move, interesting that buyers were coming for ORM shares yesterday, yes the next news will be VERY interesting.

[flughafen17] 08/4/2021 14:44

The next move here could be a interesting one, the shrewd are buying.

[aberloon2] 08/4/2021 08:16

Thinking this is an acceptable entry point so i've stuck a toe in...

[p@] 08/4/2021 07:49

Bought more this morning.

[p@] 07/4/2021 14:33

I say leave it to Tom.A. ,LOOKS LIKE he's been adding today with the two 1.5million buys today !I'm back in.

[novicetrade68] 07/4/2021 14:08

Saving some money on expensive plane tickets to Congo as you cannot really fly there on Easyjet prices, and really becomes an annoying annual cost of several tens of thousands.

If the company runs out of ideas they should consider going back to gold exploration and perhaps yield a few 100ks of inferred resource with their remaining millions :

hxxp://ormondemining.com/projects/salamanca-and-zamora-gold/

Ormonde considers the Salamanca-Zamora area to be one of the most prospective gold terrains in Spain. The Company’s tenements cover mineral prospects and occurrences with potential for high-grade vein-hosted and large, bulk tonnage low-grade deposits.

[nashwan123] 06/4/2021 15:04

I had no trouble selling 300k at .0112p. Perhaps I should have hung on?

[nashwan123] 06/4/2021 15:02

But Ormonde Mining PLC (LON:ORM) has slumped after a planned acquisition came to nothing.

It had agreed to take a majority stake in copper mining licences in the Republic of Congo back in September. But following delays in completing the deal (COVID-19, election in the country) and after its latest annual meeting, it is no longer authorised to issue the amount of shares to complete the transaction, without specific shareholder approval.

This apparently created increased uncertainty and risk for the sellers, who wanted better terms to go ahead with the deal. Ormonde said no, a compromise could not be reached, and the discussions were terminated.

Ormonde said the deal would have been transformative, and admitted the need for shareholder approval might limit further similar deals. It will now also explore alternative strategies.

Executive chair Jonathan Henry said: "The proposed transaction, which Ormonde has spent considerable time and effort in trying to complete, was an exceptional opportunity for the company. Regrettably, the company has been unable to finalise binding terms agreeable to all parties and we therefore have had no choice but to concentrate our resources elsewhere. Management is now working with the board to review a number of other transactions for the business or alternative strategies, which could deliver shareholder value and reward our shareholders for the patience shown to date."

Ormonde's shares have dropped 12,86% or 0.18p to 1.22p

[cal57] 06/4/2021 14:36

Don't blame you I'll probably stay put and see how it plays out can always use any losses to offset capital gains.Good luck.

[cal57] 06/4/2021 14:25

So the search begins to find another opportunity but will be hard pressed now the company's limited in the options available to fund any future deals/acquisitions.

[32campomar] 06/4/2021 14:15

Yes what a total idiot

[cal57] 06/4/2021 14:12

Largest shareholder stuffed the deal for fear of dilution.Look at the share price now ,ridiculous.

[deanmatlazin] 24/3/2021 09:38

the biggest shareholder is not helping either. He wouldn't allow issuance of new shares to buy Congo copper asset. I think the company will get rot slowly. we will see how much money left in the kitty. Hopefully the directors not draining them into their pockets

[croxie] 24/3/2021 07:58

I was thinking the same!

[nash81] 23/3/2021 22:05

surely we should get update very soon!