BigBobby20
19 Sep 2017
Re: AGM Hi Bizana:Many thanks for the prompt and informative feed back from the AGM. So, commissioning in September of next year and production in December. After all the years of frustrating delays, we now have a firm start date and an and already funded mining operation to look forward to. Your calculation of profits at a price of $300 per mtu, based on 260k output pa, could inflate to a profit of $15million (attributable to ORM) if proposals for a seven day week and an output of 360k mtu pa are realised. Tungsten prices continue to soar and analysts remain bullish about the next few years. We may in time find ourselves with an SP back in double figures....BB20
bizana
18 Sep 2017
AGM A very upbeat meeting.If the present positive momentum continues, IF, IF, IF,[i.e. rising Tungsten prices, falling world production (down 4% in 2016), and increased demand] the following scenario will unfold:Commissioning to commence on time and within budget Sept 2018 with ramping-up lasting 2 to 3 months, and production starting in Dec 2018.The revised investment thesis and growth strategy, incorporating accelerated mine development and based on maximising shareholder value, envisages :1.using spare capacity once production commences. The original plan was for a five-day week producing 260k mtu of WO3 p.a. A seven-day week would increase capacity to 360k mtu.2.The earlier development of an underground mine - expected to be in production by mid-2022.At $300 per mtu and production of just 260k mtu the resulting profit attributible to Ormonde would be approx $10 million pa. It is now envisaged that initial profits will be used to develop the underground mine rather than repaying debt.Saloro's OPEX will be the region of $180/mtuA production rate of 360k mtu p.a. would rank Barruecopardo in the World's top three Tungsten mines outside China ( the biggest being in Vietnam and producing 500k mtu of ATP. Next will be Barruecopardo and Wolfe if/when they sort out their problems, Note Barruecopardo's product is WO3 and it's price has to be discounted 20% against ATP, the end product which involves an awful lot of nasty products and byproducts to produce ATP from WO3The sense at the AGM was that a milestone has been reached, and that the company is now in a position where it's directors can, with confidence, present to institutions a compelling investment..
bizana
13 Sep 2017
AGM BB20 Thanks BB20.Will revert next week.Biz
BigBobby20
12 Sep 2017
AGM (Bizana) Hi again Bizana.I regret to say that it now looks very unlikely that I shall be able to attend the AGM next week. It would have been good to meet up with you. Perhaps you would be kind enough to offer some feedback here to those of us who are unable to make it to Dublin. Today's jump in the SP to 2.89p means that we have now reached a price where those bold souls who went bottom fishing in the first half of this year will have doubled the value of whatever they invested. I think we shall see 3p in the next few weeks and quite possibly 4p before the end of the year. I hope you find the AGM to be full of positives and with evidence of a clear route map to commercial success at Barruecopardo in the not too distant future. BB20
bizana
11 Sep 2017
lifted from Advfn BB "Steelwatch" This is well worth reading[link]
BigBobby20
09 Sep 2017
Further rise in APT prices The dizzying climb in APT prices has continued over the last week:Tungsten APT (Europe free market) on Friday 8th September: $310-335 per mtu (up from $285-300). Roll on Q3 of 2018. BB20
BigBobby20
06 Sep 2017
Re: RNS (Phil Reid) Hi Phil.Glad to see you posting again. I think we must now be past the price you paid last year for a very big tranche of ORM. Today's good news, which you have copied here, will obviously please all investors. Commissioning of the mine in Q3, thanks to project acceleration, means that we have at most 12 (perhaps only 10) months to go before we start pulling tungsten out of the ground. We are now in count down mode!!I have done quite a bit of bottom fishing in the last two or three months, my best purchase price being 1.4p and near enough doubled my stake. I don't think we'll see that kind of SP again, but never say never. The tungsten price is soaring, which is good news for all of the stalwarts who managed to keep the faith over the last couple of years. The SP is close to doubling, vis a vis its low point, and should tick up as tungsten prices improve and as we get closer to production. My guess is that we should see 4p--perhaps even 5p--before next September. I'll be watching for that as an SP of 4p will put me at break even (despite my earliest buys at 10p and 11p).I believe you are back in the UK now. I hope this message finds you in good health and enjoying life.BB20
Phillip Reid
05 Sep 2017
RNS RNS Number : 7863POrmonde Mining PLC05 September 2017Ormonde Mining ("Ormonde" or "the Company"
Barruecopardo Tungsten ProjectConstruction UpdateThe Board of Ormonde is pleased to provide an update on construction activities at the Barruecopardo Tungsten Project in Salamanca, Spain ("Barruecopardo" or the "Project".Following the Company announcing, on 2nd June 2017, that the Project had moved into an accelerated construction and implementation phase, the ramp-up of site activities has advanced rapidly and is on track with the Project schedule, which anticipates mine commissioning in the third quarter of 2018. Progress at the Project has been made against a backdrop of strengthening tungsten demand and rising ammonium paratungstate ("APT" prices.Key developments include:· Priority 1 and Priority 2 equipment at manufacture stage; Priority 3 equipment order placement underway· Construction of workshop, offices and other infrastructure continues· Multiple construction contracts awarded, including dams and civil works, with main dam construction work underway· Some 50 persons now working on the Project, including a majority from Barruecopardo and immediately adjacent towns· APT prices continue to perform strongly, with significant price rises seen over recent months to a current level of US$285-300/mtu. This represents an increase of 30% on the prevailing price when the decision was taken to move to accelerated construction, and an 80% increase from its January 2016 lowSteve Nicol, Ormonde's Managing Director, commented:"With the very positive decision, taken in early June this year, to advance the Project into an accelerated construction and implementation phase, the intervening period has been exceptionally busy at the Project. The speed and scale of the works progressed over this period has only been possible as a result of the meticulous preparation activities performed by the Project team over the past months.With the APT price continuing to climb steadily, indications are that the decision to accelerate construction at the Project has been a timely and appropriate one, with the stage now set for the Project to commence commissioning in Q3 2018 against a backdrop of a much improved tungsten price environment."About OrmondeOrmonde has a 30% interest in the Barruecopardo Tungsten Project, located in northwest Spain. Barruecopardo is a fully permitted and fully funded mining project currently being developed through a US$99.7 million funding package agreed with Oaktree Capital Management (70% interest) in 2015.A picture gallery illustrating recent site activities can be viewed at [link] DetailConstruction ActivitiesWith the extensions to the Project timeline announced during 2016, the manufacturing of the ordered Priority 1 and Priority 2 equipment was necessarily deferred. This deferral has now been lifted and all ordered equipment is now being manufactured. In addition, new orders have been placed for the remainder of the outstanding Priority 2 equipment (including spirals, tables, main plant feed screen, and thickeners, etc), with Priority 3 (low criticality and/or short lead time) equipment orders also now being prepared for placement.The dams' construction contract was recently awarded to Cerezo, a Spanish company with wide experience in the construction of dams and other mining infrastructure, including the execution of entire open pit mining operations for several international mining companies. Cerezo immediately mobilised to site with construction works having commenced in early July.Meanwhile the civils works contract for the construction of all the foundations required for the Process Plant and associated infrastructure has been awarded to Copisa, a Spanish company active in Europe, Africa, Central America and South America. Copisa has particular experience in t
BigBobby20
03 Sep 2017
Re: APT price (Bizana) Sorry for the typo: Saloro (not Salorio). BB20
BigBobby20
03 Sep 2017
Re: APT price Hi Bizana:I was indeed hoping to attend the AGM on 18th September but I discovered on Friday that my passport is out of date. I'm not sure how long it takes to have a new one issued. I will post an O/T note to you here if I can renew in time and find a flight to Dublin at a reasonable price. Re expediting: I recall asking Kerr Anderson a couple of years ago whether the mine development at Barruecopardo could be put into overdrive if the tungsten price were to improve dramatically. His response was that this would doubtless be the case but that there was a limit to how much time could actually be saved. HIs estimate, he told me, was that we would be talking in terms of a maximum of a few weeks shaved off the ETA but not months. The AGM should certainly be an interesting and upbeat affair. Perhaps an amended date for commissioning will be announced. Who knows? We may even discover that a 12 month countdown to first output has already begun. A price of $300 per mtu APT is now within touch and this has to be hugely energising for the Salorio/Oaktree team and a strong incentive to speed things up. BB20
bizana
03 Sep 2017
APT price This rapid rise should make for an even more interesting AGM.What scope, I wonder, for expediting mine commissioning?BB20 will you be attending?
BigBobby20
02 Sep 2017
APT rises Tungsten APT prices continued their rise on September 1st. On Friday, the price of APT on the European free market $/mtu was $285-300 (up from $269-275). BB20.
BigBobby20
30 Aug 2017
A word of cheer. And today's good news?It has to be that the ORM SP is trading this morning at a 25 month high (2.25p), buoyed without doubt by evidence of the steadily improving price of tungsten and signs of renewed buying interest in these shares. When Joe Public spots that tungsten APT is now more than $100 per mtu up from February 2016 ($160), expect strong investment here. We should see plenty of new arrivals climbing aboard before the commissioning of Barruecopardo in Q4 of next year. BB20
bizana
25 Aug 2017
Tungsten Price European APT 269 - 275 August 25
BigBobby20
17 Aug 2017
Cheering news More cheering news for the long suffering ormondistas::Metal Bulletin has reported European APT prices rallying last week to their highest level since April 2015 due to tightness in the raw material.Ammonium paratungstate prices jumped to a 28-month high as sellers priced in the effects of tighter supplies and recent operational disruption in China’s tungsten production hubs. Metal Bulletin reported APT prices at $248-256 per mtu, cif Rotterdam, on Friday August 11, up 3.3% from the previous week’s assessment.BB20
