Ormonde Mining Share Discussion Threads

[lookingforhelp] 03/8/2023 14:08

'has not been feasible to exercise the option...'What do they actually mean by that ?

[diamond_mountain] 03/8/2023 13:09

512.5k to buy 20% of an undisclosed project which doesn't have a code compliant resource, only to decide not to exercise its option or invest further. No drilling results from this mystery project reported. And now sounds like that money is spent and the project is already being shopped around?

Ormonde is committed to retaining its 20% interest in PNL (investment of GBP 512,500) which is advancing
exploration on a potentially significant Battery Metals project. Drilling is continuing on its prospect with the intention
of achieving a code-compliant resource estimate for the project. In the light of the decision to recommend the
Investment, it has not been feasible to exercise the option relating to acquiring a 49.9% holding in PNL, or the
potential RTO. The Board is, nonetheless, continuing to closely follow the progress of this exploration with a view
to supporting, if and as appropriate and commensurate with Ormonde’s shareholding, the PNL board and
management team in the further development of this very attractive project, as the opportunities unfold.

[lookingforhelp] 03/8/2023 10:01

Peak Nickel assets being shopped around.

[apotheki] 01/8/2023 15:55

It is good to see that the LSE, FCA and the authorities in general have started to make changes that will especially assist the smaller shareholders community.

Cutting the requirement in half to 5% for calling an EGM is an excellent start.

In my view we will from this autumn onwards see a large increase in Shareholder Action Groups calling EGM's and removing directors who are quite bluntly deemed not to be fit for purpose.

[apotheki] 01/8/2023 15:52

Interesting to note that the Shareholders Action Group over at LSE:BIDS appear to have got what they were looking for according to the recent RNS!

[apotheki] 01/8/2023 15:50

There are quite a few Shareholder Action Groups in the small caps space at the moment partly due to the dire bear market conditions but also stock [or people] specific reasons.

The relatively new lower 5% [used to be 10%] requirement makes it all a lot easier for shareholders to call a general meeting and get rid of any directors who are deemed to not be for for purpose.

One to watch I guess but I for one would not fall off my chair if this happened here in the coming weeks....

[cal57] 31/7/2023 18:32

Notice of Annual General MeetingFurther to the Company's announcement dated 27 July 2023, Ormonde announces that it has today made available on its website ( https://ormondemining.com/investors/investor-notices/ ) a circular to shareholders (the "Circular") containing a notice convening an extraordinary general meeting ("EGM") for the purposes of seeking shareholder approval of the Company's proposed investment in TRU Precious Metals Corp ("TRU") (the "Investment") and the cancellation of the admission of the Company's ordinary shares ("Ordinary Shares") to trading on AIM and Euronext Growth (the "Cancellation"). The Circular will be posted to shareholders on 1 August 2023.The Circular sets out, inter alia, further information on the Investment, the background to and reasons for the Cancellation, and additional information on the implications of the Cancellation for the Company and its shareholders.The Extraordinary General Meeting will be held at the Maldron Hotel, located at Bellevue Ave, Merrion Road, Dublin, D04 K5C2, Republic of Ireland on 25 August 2023 at 11.30 a.m.Together with the Circular, the Company will also post to shareholders on 1 August 2023 a notice convening the Annual General Meeting of the Company which is to be held at the Maldron Hotel, located at Bellevue Ave, Merrion Road, Dublin, D04 K5C2, Republic of Ireland at on 25 August 2023 at 11.00 a.m ("Notice of AGM").A copy of the Notice of AGM is also available on the Company's website at https://ormondemining.com/investors/investor-notices/ .

[hamid1970] 28/7/2023 22:28

Will have to see what the circular says. However if TA fails to get the vote, surely ORM should be wound up. Plus we never got an update on drill results from Peak Nickle, what happened there ??

[gb904150] 28/7/2023 09:17

The threshold for passing this at EGM is pretty high - 75%. Thomas Anderson holds 24% so it's by no means guaranteed.

I guess the problem is, without an alternative plan this is a cash shell and has to delist by 4th October anyway.

You would think TA would have his own interests at heart given that he holds 24%....bt in the time he has had that stake there has been almost zero communication and this collab with TRU is hardly inspiring. Adding C$3m to the coffers of an early stage Canadian exploration co.....albeit one with some high gold grade drill results over small widths.

I guess it's just not that compelling either way. Vote for and end up with 46% of TRU which will eat cash for a few years at least or vote against and it's not clear what would then happen. There would be no listing in UK but there would still be the 1.5m € to come from La Zarza.

Didn't TA just succeed in getting his mates on the BOD....and now with TRU would get 2 on the BOD over there? Perhaps he's looking to move to Canada and that's all part of the wheeze? Either way, with no comms....who knows?

[apotheki] 28/7/2023 08:36

Only 5% shareholder support required [used to be 10%] under the new rules to call an EGM

There are currently quite a few shareholder action groups doing exactly that i.e. LSE:BIDS

[lookingforhelp] 28/7/2023 08:32

There's a few brokers out there that would support.

[lookingforhelp] 28/7/2023 08:31

Call EGM. Vote off current clowns and replace with a team that could use the ORM shell in a better manner.

[cal57] 28/7/2023 08:15

Yes we would all like to vote against but what do you think the alternative will be?

[hamid1970] 28/7/2023 08:05

Or can can vote against, which is what I will be doing. There is no guarantee the listing will be successful. Then Anderson has effectively taken ORM away from shareholders by stealth

[cal57] 28/7/2023 07:58

Looks like Mr Anderson has left us with little choice than to vote through the proposals.Listing on the AQSE Growth Market looks like a last chance saloon for shareholders.

[diamond_mountain] 04/7/2023 12:48

It's a non sequitur: "As TRU is already listed in Canada, the Ormonde Board has decided...."

[cal57] 04/7/2023 09:32

This is a presumption made from the RNS .We will just have to wait until we get more detailed information . As TRU is already listed in Canada, the Ormonde Board has decided, subject to shareholder approval, to seek to cancel the Company's admission to trading on AIM and Euronext Growth Market as part of the approval process around this Subscription (the "Cancellation"). An announcement setting out the reasons for the proposed Cancellation, the effect of the proposed Cancellation, and a detailed timetable will be released when finalised. A circular will be prepared and sent to shareholders in due course with a notice convening an Extraordinary General Meeting ("EGM") to approve the Subscription and the Cancellation of the Company's shares to trading on AIM and Euronext Growth Market. The Subscription is conditional on shareholder approval and the completion of the Cancellation.

[diamond_mountain] 04/7/2023 09:23

There has been no reference to a Canadian listing.

[cal57] 04/7/2023 08:47

Check with your broker .Many brokers will let you deal in overseas shares including the Canadian markets.

[pol123] 04/7/2023 07:49

How will we access our shares in a Canadian listing

IMO looks like a good play, very impressive gold samples

[alannlane] 03/7/2023 19:26

ORM does not have any relationship with TRU.

[digger jim2] 03/7/2023 11:14

TRU is a very early stage exploration play - there are NO resources.

[gotabsirius] 01/7/2023 15:35

I agree, significant gold and copper resources