BigBobby20
02 Oct 2016
Re: Interims (FAO Broomfield) Hi Broomfielder.Your note of caution re business plans, which we should indeed view as projections and calculations rather than absolute truths etched in stone, is a useful reminder not to let optimism carry us away (whatever the company). Even some of the great and the too big to fail have shown that they can falter or tumble and have to shut up shop. Some of my smaller companies have gone belly up when it turned out that their novel, world beating product cannot be properly managed or efficiently produced and marketed. That said, there is a good case--particularly where investors do due diligence and follow day by day the large and the small events, weigh up the niceties of all company reports and operational statements, keep a weather eye out for favourable breezes (e.g. here, the gradually improving price of tungsten) and gauge any threatening headwinds--to let ourselves go with the flow and allow hopes to flourish. The old rules will still need to be in place: not investing even in a dead cert what one cannot afford to lose, letting profits ruin and cutting losses, seeking safety in diversification. But when the odds stack up hugely in favour of success, it is not always good to sit on the fence or watch a promising beanstalk grow out of reach. Your mention of Wolf--an interesting comparator in tungsten mining, which got well ahead of us in the journey to shovels in the ground--proves your point about the unforeseen risks that can emerge from the woodwork. After fund raising and a massive dilution of shareholder value, the company is currently breaching the covenants of its loan funding and having to suspend itself from the ASX while it puts things right. As Kerr would have observed, with some due pride and pleasure, all the signs are that Ormonde struck a very sound and supportive deal with Oaktree (and at a time when finance for mining start-ups was virtually non-existent) with the result that we now find ourselves in a 'happier place' with much to be confident about. BB20
dyfiman
30 Sep 2016
Re: Recent buys/sells (Dyfi, Broomfield) And a very good morning to you Bobby.................and may I thank you for steering me into what's what re.. those sharesrelating to Anderson.As for ORM generally, I'm very pleased with what's been going on for thefuture and it's a vindication of the decision to dig in an wait for the bigprize. Hope you are hale, hearty......... and going to do big things with QFI. I might well tap you for a few quid when your QFI boat comes in !!!!!!Best regards, Dyfi.END END
Phillip Reid
30 Sep 2016
Interim Report - Chairman's statement Many years ago. when I was in business, I had a customer who had also been in the same business and we often use to talk stock-market. He was a bit of a mentor to me if I ever had one, but the main point he made was ''always read the Chairman's statement before you invest in a company. CHAIRMAN'S STATEMENT Following the successful completion of permitting and capital financing in 2015 and a restructuring of the Board and Management later that same year, the first half of 2016 was a period of consolidation, with the emphasis on working with our Barruecopardo Project ("Project"
partner to advance engineering and land acquisition, pre-construction site investigations, dam earthworks trials and site establishment works to facilitate the Project moving forward into the full development phase. The promotion of Steve Nicol from the position of COO to CEO and the appointment of Paul Carroll as CFO was a timely and appropriate step as the Project moved forward from the feasibility study, permitting and capital funding stages into the more focussed activity of mine development and preparations for operations. As a first step, a comprehensive project management and capital expenditure reporting system was put in place and linked to a new reporting system to satisfy joint venture requirements. Fairport Engineering, who has worked with Saloro on the engineering and procurement support for the Project since the commencement of the basic engineering phase in early 2014, was awarded the construction management contract. The engineering design works completed by Fairport enabled, by early 2016, the placing of orders for all of the priority-1, longer lead-time, capital items for the processing plant, and 60% of the priority-2 plant. This work is ongoing. Activity at site during 2016 largely revolved around preparatory site formation works, including the laying of main feed service pipelines and the development of access roads and lay-down areas in preparation for the main construction stage. In addition, site investigation work was completed to verify geotechnical design parameters and earthwork compaction trials were organised for the water dams construction works.The second area of focus, land acquisition, advanced well during 2016, with virtually all of the land blocks that were under option to purchase being acquired by the Project company. The final phase of land acquisition, the compulsory acquisition of the remaining land blocks, was also advanced, although an appeal by a third party against an administrative step in this process led to a change in the expected timelines to completion of the process. Following detailed legal advice, the Project company agreed an optimised construction schedule which balances the most likely scenarios with regard to possible compulsory acquisition timelines, whilst also aligning the Project targeted first production date with independent expectations for a more favourable tungsten price environment. The Project commissioning phase is currently scheduled for late 2017. Since agreeing this new schedule, we have received the final major approval relating to the land acquisition process, the Declaration of Urgent Occupation. This step required a vote of the regional parliament and the fact that this approval has been delivered promptly, ahead of the date expected, reflects the support the Project has, both publicly and politically, in Castilla y Leon. A few procedural steps remain during the coming months prior to access to the lands being achieved and the optimised construction schedule, significantly de-risked by the receipt of this important Declaration, remains valid. While the current focus remains on project development, the Project partners are also looking to increase the value of the Barruecopardo asset through both extensions to the mine life and/or increases in the eventual production rate. With this in mind, the Proj
Phillip Reid
30 Sep 2016
Interim result - Highlights Ormonde Mining plc("Ormonde" or "the Company" Interim Results for the Six Months Ended 30 June 2016Ormonde Mining plc, the mine development and exploration company operating in Spain, is pleased to announce its unaudited interim results for the six months ended 30 June 2016. Highlights:Barruecopardo · Declaration of Urgent Occupation received, representing the final major step in the compulsory land acquisition process;· Optimised construction schedule agreed for Barruecopardo, which sees commissioning in late 2017; · Engineering design and awarding of processing plant equipment supply contracts proceeding in line with budget;· Initial drilling campaign, investigating the potential for a longer term underground mine operation at Barruecopardo, yields encouraging results. Michael Donoghue, Chairman of Ormonde, commented, "With permitting and financing in place we have been in a position during 2016 to advance the development stage of our Barruecopardo Tungsten Project and it is encouraging to see that capital commitments to date are within budget. It has also been reassuring to see the Regional Parliament of Castilla y Leon vote in favour of the Declaration of Urgent Occupation for lands under compulsory acquisition. We look forward to the full construction stage of the Project once the remaining land access procedural steps have been completed". Ormonde Mining plcSteve Nicol, Managing Director Tel: +353 (0)1 8253570Regards
broomfielder
30 Sep 2016
Interims Nothing of surprise here and nothing we didn't already know (which for an AIM mining share at this stage of its project development is a welcome bonus IMO).Provided the news flow to Investors continues, we can be satisfied with our waiting game until commissioning gets closer in late 2017.Any drilling supported news on increased Resource reserves will of course be a major accelerant to the SP. And the hoped-for transformation in this Project's returns etc. from very good to potentially exceptional.Now I concede that there are a lot of differences with the likes of Atalaya, Wolf etc but these rather go to show in theIr own different ways just how many issues can detract from a great Business Plan before their shareholders see any returns whatsoever.Hopefully that wont occur with Orm but I find these days investment in any AIM shares to be getting so risky and subject to volatility even it's likening by many to a casino is increasingly understated.Good luck all.B
BigBobby20
29 Sep 2016
Recent buys/sells (Dyfi, Broomfield) Hi Dyfi.I share your positive sentiments ("ORM BOSS plunges in" of 17.09.16) but would point out that Mr Thomas Anderson is not one of the management team nor, to my knowledge, part of the company in any way other than as a shareholder. He may have very deep pockets with 39,575,000 shares (an 8.38% stake) but I think you will find that he manages these shares for others. Be this as it may, his buys are nonetheless a big vote of confidence in the company. You ask why some investors have opted to cash in at this time and what became of patience and I would think that Broomfield has given a plausible view of why these shares were unloaded. Most of us here will hang in now until first sales of tungsten just over a year from now.The SP is back above 2p as I write, which is pleasing. I had no spare cash over recent weeks, due to stake building elsewhere, but I was very tempted to generate some funds to top up while the SP was depressed. I do not expect to see huge swings either way over the next 12 months but would guess that any significant rise in the price of tungsten is likely to find itself reflected in the SP, while a trickle of positive news about project development at Barruecopardo will doubtless cause some movement upwards. A year from now things will be humming and the old metaphors about funicular railways and the unfurling of sails will be back in vogue. BB20
dyfiman
17 Sep 2016
ORM BOSS plunges in... to ORM shares A massive show of faith in ORM's future and one that the markets shouldpay attention to.Anderson's shares buying RN'sd well after markets closed yesterday.**** Holding(s) in CompanyRNSRNS Number : 1263KOrmonde Mining PLC16 September 2016 Ormonde Mining plc("Ormonde" or the "Company" Notification of InterestOrmonde has received notification on 16 September 2016 from Mr. Thomas Anderson that, as at 16 September 2016, Mr. Anderson held 39,575,000 ordinary shares in the Company, representing 8.38% of the issued share capital of Ormonde.ENDS Regards all from Dyfiman.END END
broomfielder
17 Sep 2016
Re: massive share deal showing iiiiiii Well from yesterday's RNS, we know the seller wasn't T Anderson who appears to have significantly increased his holding (according to the Co website info).Makes the recent sales perhaps larger than I had thought. No doubt some Investor has simply hit their Return on Equity/profit target etc and wants to cash in. They may well return later (as investors tend not to forget where they made profits if that's the case).B
dyfiman
16 Sep 2016
Re: massive share deal showing iiiiiii Thanks for the insight Mr B.Observation........................... with everything on track at Orm's mine site I'm surprisedthat some folk are selling. What happened to patience !!!!!!!!.Best regards all 'Ormers.END
broomfielder
16 Sep 2016
Re: massive share deal showing iiiiiii Dyfiman - Can only surmise it was some kind of roll-over as it had no effect on SP. And no RNS etc.Also, our seller(s) has re-appeared this morning with a 600k sale so the quantum of disposals are certainly increasing. Impossible (for me at least) to tell if these are in any way connected.Rgds.B
dyfiman
15 Sep 2016
massive share deal showing iiiiiii Am looking at i i i screen which shows that 10,224,615 shares have been traded.Does anybody know what's going on ????????Or is it just a glitch.?????????END
broomfielder
10 Sep 2016
SP/Seller The recent positive movement in the SP (albeit way short of historic highs), appears to have unearthed a persistent seller(s) certainly since we crested the 2p mark.Trading volumes are not great on Ormonde's shares so the regular 200k - 500k disposals stand out rather and while I cannot fault anyone banking a profit, the frequency of such trades suggest it could be a larger holder.I think most remaining PI's are into Ormonde until at least production is well underway and hopefully the Co is in profit aided by a strengthening Tungsten price etc if not simply to recover/reduce our past investment losses. So again selling now points to one of our larger shareholders perhaps reducing their holding ahead of an RNS one day. Whilst that to some will provide a buying opportunity, continued selling into any future rise in SP will be a bit of a dampener on things.I know it's likely only to be short term and does not impact on the longer term fundamentals/prospects etc but it spoiled such a nice run with the SP. And that positive growth was such a welcome change in my portfolio!B
BigBobby20
29 Aug 2016
Re: AGM Many thanks, Bizana, for providing this feedback--much appreciated, I am sure, by all. As (in principle) a low cost producer of tungsten, we should be able to hold our own, even with market prices still somewhat depressed. Viewing things positively: all the signs are that there will be a growing demand for tungsten over the next few years and, we presume, an improved price. However, this, as you infer, is the factor that Ormonde and Oaktree cannot control. We are much safer than most other tungsten operators but a good or very good return on our money depends, as ever, on market demand...and supply. BB20
bizana
29 Aug 2016
AGM The AGM went very smoothly.1. What emerged very clearly is that our Board are supremely confident that we will be ready for production end-2017.2. The great unknown is what the price of Tungsten will be at that time.In a best case scenario, if it has recovered dramatically, production can be ramped up to much higher levels than previously indicated. Result: happy shareholders.In a worst case scenario, if Tungsten cannot be profitably mined, then the project will have to be mothballed.3. Not stated at the AGM, but I infer, that the pushback to end-2017 is not unrelated to current tungsten price.4. Ormonde is now, in effect, a pure play on the price of Tungsten.All other mining activity/interest is on the backburner until such time as Barruecopardo starts generating cash. 5. Oaktree's financing equated to an entry level at 3p
scholomo
28 Aug 2016
Re: Building a stake (FAO Scholomo) HI Thank you very much for your detailed and lengthy reply.I only asked you because i have always followed your posts as they seem very informative.Thanks once againbest regardsSchlomo
