bizana
14 Apr 2017
APT price Euro APT Price:14/01/2017 USD 191-19914/04/2017 USD 205-215
Phillip Reid
31 Mar 2017
Re: Update Don't like what the SP is saying - last trade 1.32.Seems like a drip,drip, drip decline.Really grateful for my GFM to be balancing things out.
halfpenny2
30 Mar 2017
Re: Update Good to see it all spelled out with helpful colour illustrations though, very encouraging, and we're at a positive place on the pricing graph as it starts to lift up. As you say though - it may be a while!
BigBobby20
25 Mar 2017
Update Posted by Telemarker on LSE discussion board for ORM:[link] useful update in one or two respects and some helpful time scales showing the journey to production but the bulk of what is here will be known to old hand aficionados on this board. Patience, compadres...BB20
BigBobby20
23 Mar 2017
OT: Senior moment... (FAO Bizana) Hi Bizana.While looking back through recent posts, I spotted that in response (03.02.17) to one of your posts (01.01.17 "Tungsten market"
, I happened to mention in a brief aside that I was building a position with Cluff Natural Resources (CLNR) and "Versilian" [sic], producer of graphene, the new wonder material. The story was exact but unfortunately I mistyped the name of the company that is producing graphene, which should have read "Versarien" (VRS). I am not quailifed to give advice on shares and can only say that in my own universe VRS (currently c. 20p) looks to be a winner, with sub-10 layer graphene (referred to by VRS as Nanene) causing excitement among engineers from a range of different activities. BB20
BigBobby20
22 Mar 2017
Re: Stupid question Hi KB:On Sunday 189th March you write: "Stupid Question:Just wondering about the debt financing.....is this taken on by Ormonde or by the holding company Saloro? Will profits from Saloro be used to pay down debt, then remainder distributed 30:70 to ORM and OAK respectively......or are gross profits split and then ORM pays down debt from its reduced share?"---------- ---------- ---------- -----Not a stupid question at all. Unfortunately, as Broomfielder pointed out here recently, what we have been allowed to see of the project agreement with Oaktree does not provide the level of detail that investors might have liked to pore over the fine workings. In most areas, our knowledge operates at a level of generality. I am not sure, therefore, that I can arrive at reliable answers for what you ask.Oaktree's joint project with Ormonde is, of course, via Saloro on a 70:30 ownership basis, though in practice what happens to Saloro, whether for better or worse, directly impacts on Ormonde and thus on ourselves as shareholders. The Barruecopardo mine is clearly some way from production, sales and profits but it is logical to assume, when we get that far, that 30% of whatever is available after mining and marketing expenditure will flow to Ormonde and be used to pay down the loan element. I seem to recall that there is some flexibility in the deal, which might allow, say, a dividend of sorts while we repay the loan but investors will not be surprised to find that what you refer to as profit is bundled off to shrink the interest and capital owed rather than diverted to generate sweeteners for shareholders. Many shareholders will think that approach sensible.It is worth saying that the interest to be repaid did not start building up from the moment when Ormonde reached agreement with Oaktree but features only as available finance is drawn down. I am not sure that at present there will be much funding that has been drawn down to cause large amounts of interest to be building up, though sooner or later work on preparing the site and buying in equipment and expertise will make that process significant. There are other posters here who may be able to throw more light on the financial workings of the deal struck. You may also wish to consider emailing the Ormonde HQ to see what the CEO or finance director can offer. BB20
Kinyara Bill
19 Mar 2017
Stupid question Just wondering about the debt financing.....is this taken on by Ormonde or by the holding company Saloro? Will profits from Saloro be used to pay down debt, then remainder distributed 30:70 to ORM and OAK respectively......or are gross profits split and then ORM pays down debt from its reduced share?Sorry for my ignorance.
greatpotential
06 Mar 2017
Tungsten up 5% Tungsten up 5% is it finally joining the commodities party? Tungsten heavy industries such as Oil drilling and fracking continues to rise , improvements in China, and also infrastructure spending in the world largest economy starting to kick in, could this be the long awaited turning point for Tungsten?
BigBobby20
03 Feb 2017
Re: Wolf update A good find, Bizana. CAGR of 4.25% during 2016-21 for tungsten echoes one or two other authoritative forecasts that have appeared over the last year and give us hope that bunnies in the hat may not yet have gone out of fashion. Certainly, we can see this happening impressively to zinc with prices climbing and warehouse stock levels dropping to eye catching lows (and at a time where finance for new start ups is conspicuous only by its absence). There are now also forecasts that the sharp decline in exploratory work globally in the oil industry will, a year or two from now, start to pose significant supply problems and thus trigger higher prices. Yes, you are right. It was none other than dear old Almonty, to give credit where it is due, who know how to talk the talk but, it appears, are able also to walk the walk. ORM, as I have suggested in recent posts, appears to be a classic waiting game. I'm watching the SP and will weigh in again to reduce my average if the SP moves further in the direction of 1p. In the meantime, I'm excited by Algy Cluff's new(ish) venture in the south of the North Sea and even more so by the shrewd activities of Versilian in upping the stakes in the production of graphene, whose properties promise a dramatic impact in almost every sphere of life. BB20
bizana
01 Feb 2017
Re: Wolf update Interesting post BB and, as you see, it prompted me to do a little work.You did not mention that the producer that secured 1 year fixed price take-offagreement was our old friend Almonty.
bizana
01 Feb 2017
Tungsten Market This is a more complete follow-up to a post on Advfn 30/1 by "Steelwatch"Tungsten Market Estimated to grow at a CAGR of 4.25% by 2016-2021New Study “Global Tungsten Market Applications,Industries,Regions,Country): Trends, Opportunities & Forecasts 2016-2021" available with OrbisResearch.com.Global Tungsten Market (End-Use Application, End-User Industries, Region, Country): Trends, Opportunities and Forecasts (2016-2021)”— market is projected to exhibit a CAGR of 4.25% during 2016 - 2021DALLAS, TEXAS, UNITED STATES, January 30, 2017 /EINPresswire.com/ -- A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of global tungsten market on the basis of End-Use Application (Hard Metals, Mill Products, Steel and Alloys, Chemicals & Others), End-User Industries (Automotive, Mining, Construction, Oil & Gas, Aerospace & Defense and Medical), Region (North America, Europe, APAC and ROW) and Country (U.S., Canada, U.K., Germany, China, India, Japan, Brazil and Saudi Arabia). Global Tungsten Market is forecasted to grow at a CAGR of 4.25% during 2016 – 2021. Strong growth in tungsten market is driven by the surging demand for downstream tungsten products in varied end-user sectors including automotive, industrial engineering, energy, and aviation. Apart from that, the uncovering of the wide range of applications in allied industries like medical, defense and electric and electronic, has been impelling growth in the tungsten market. Although, hard metals hold the major percentage share in the total tungsten market in the present, consumption of tungsten for mill products is projected to display a faster growth in the future owing to the increasing application in high growth electronic and construction industries. Regionally, tungsten demand growth is likely to be the fastest in the Asia Pacific region against the backdrop of economic growth in emerging markets. Developed regions of North America and Europe are expected to display a steady paced growth, mainly due to high expenditure in automotive and engineering sectors. According to Azoth Analytics research report, Global Tungsten Market (End-Use Application, End-User Industries, Region, Country): Trends, Opportunities and Forecasts (2016-2021), market is projected to exhibit a CAGR of 4.25% during 2016 - 2021. Global Tungsten Market has been segmented on basis of End-Use Application (Hard Metals, Mill Products, Steel and Alloys, Chemicals & Others), End-User Industries (Automotive, Mining, Construction, Oil & Gas, Aerospace & Defense and Medical), Region (North America, Europe, APAC and ROW) and Country (U.S., Canada, U.K., Germany, China, India, Japan, Brazil and Saudi Arabia). Request a sample of this report at [link] . Scope of the Report: The report provides coverage by End-Use Application, End-User Industries, Region and Country: End-Use Application: Hard Metals, Steel and Other Alloys, Mill Products, Chemical, Other End-User Industries: Automotive, Mining, Construction, Oil & Gas, Aerospace and Defense, and Medical Region: North America, Europe, APAC, and ROW North America Tungsten Market Hard Metals, Finished Product Type Hard Metals, End-User Industries Country: U.S, Canada, Germany, U.K, China, India, Japan, Brazil, and Saudi Arabia Customization of the Report: The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research. Purchase a single user copy f the report at [link] . Major Points from Table of Contents: 1. Research Methodology 2. Executive Summary 3. Strategic Recommendation
BigBobby20
31 Jan 2017
Wolf update Wolf (WLFE), the UK tungsten company, gave an update report yesterday, with generally positive news. Good to see that they are managing to keep nose above water after their recent discomfort. One point in MD Russell Clark's overview that caught my eye was the suggestion (at the end of his market summary reproduced below) that prices of tungsten concentrate are appearing to be not as tightly bound to APT prices as investors and commentators have tended to think."The demand for tungsten concentrate during the Quarter was similar to the September 2016 quarter with firm interest in Japan and Europe as a result of steady output from the automotive sector and aerospace sectors. Demand from other regions remained low as a result of soft conditions in the mining, oil and fracking industries and the economic slowdown in China. Current market conditions have resulted in some supply being withdrawn from the market and are also increasing the difficulties for new projects to get the necessary debt or equity funding to commence construction. Prices for tungsten concentrates have historically tended to follow the same trend as prices for ammonium paratungstate (APT), which is the key intermediary product in the tungsten supply chain. APT prices for spot market transactions are published by several data providers including Metal Bulletin and Metal Pages with prices established through surveys of buyers, sellers and other industry participants. The average APT Price published by Metal Bulletin for the Quarter was US$194/mtu (FOB Europe). During the Quarter, a European tungsten concentrate producer announced that it had entered into several one year fixed price off-take agreements with a net price to be received of US$210/mtu, equating to an effective APT price of US$269/mtu (assuming an industry average discount factor). At the time of the announcement the average spot market price APT was approximately US$200/mtu. The announcement of these agreements is consistent with Wolf's view that the historic methodology of determining tungsten concentrate prices relative to the APT price is not fully representative of the current market."BB20
BigBobby20
27 Dec 2016
Re: RNS A happy, healthy and prosperous New Year to all ormondistas. I agree with most of what has been said by fellow investors re the RNS announcement. Always helpful to know where we stand, though hardly the news we wanted to read. I remember that we were given a clear hint concerning possible postponement of the date for shovels in the ground in Bizana's very useful feedback (29.08.16) on the AGM. On the positive side, this is only a six month delay (and might, of course, have been more), though whether commissioning is brought forward or subject to a further postponement will depend on the price of tungsten. Analysts are positive in the medium term, and some metals (see zinc and copper) have already taken off in spectacular fashion. Tungsten has been much slower off the mark, reflecting in particular, as the RNS explains, the fall off in demand for drill bits by oil and mining. I do not think the adjustment to the fee is much to worry about, and the RNS does state that the reduced income will suffice. More importantly, as I understand it, no debt has been/will be drawn down for the time being, so we are not saddling ourselves in the interim with worrying amounts of interest. I think it is Important to remember, also, that Oaktree is a partner in this venture, rather than a mere banker, and will have somewhat different expectations from the project--and commitment to it--than would be the case with a lender pure and simple. Our look-alike, WLFE, has funded itself in a more orthodox manner and has been having (along with its investors) a hard time of late, so perhaps we should consider ourselves still in Kerr's "happier place" and not get too pessimistic just yet. If I sound accepting and more than a touch philosophical about this, it is because I have been investing since my late twenties (some decades ago, I must add) and know only too well how slowly some things come to fruition. After a long waiting game, a handful of companies (e.g. ARM, Autonomy, Advanced Medical) rewarded me handsomely, more than making up for my fair share of basket cases and belly up failures. Like others here, I am planning to be seriously rich in time to be able to enjoy that blissful state of being but I find that three of my four potential big hitters are at the moment relegated to the sidelines. For now, I have to sit and wait. In the case of Ormonde, I am content to watch this space, remaining convinced that the odds are still very much in our favour. I would guess that the SP will go nowhere fast, unless tungsten prices improve noticeably. But new money invested at this time is, in my view, likely to show a very good return given a year or two to grow.Hope springs eternal .... BB20
broomfielder
22 Dec 2016
Re: RNS Absolutely agree Phillip.I perhaps understated it when I posted earlier that in light of the delayed commissionjng, the adjustments to the Management fees made sense but it certainly didn't benefit Ormonde.Oaktree (to use one of their American expressions) may look to get the Project 'shovel ready' and then simply make their final decision on Barruecopardo on the strength of existing / projected Tungsten prices early in 2018 well ahead of the indicative commissioning date provided today.They look to be giving themselves an option with this second deferral in start-up but until major Capex begins could make the project increasingly vulnerable without further sustained hardening of Tungsten prices IMO.Rgds.B
Phillip Reid
22 Dec 2016
Re: RNS bromfielderI am also concerned that the management fee has been reduced on a temp basis (€1 million to €750k with reinstatement of the full fee and the accrued amounts being made upon the Project achieving two consecutive quarters of positive cash flow.)See:Ormonde Mining plc ("Ormonde" or "the Company"Barruecopardo Tungsten Project - Full land access achieved, Project timelines reoptimisedThe Board of Ormonde is pleased to provide the following update on the Barruecopardo Project in Salamanca, Spain ("Barruecopardo" or the "Project". This update follows recent announcements regarding the compulsory land acquisition process and Project construction schedule which the Project company, Saloro SLU ("Saloro", has been advancing. HIGHLIGHTS· Following receipt, in June 2016, of the Declaration of Urgent Occupation ("Declaration" relating to all land blocks which Saloro had requested to be included in a compulsory purchase process, and which are necessary for Saloro to develop the Project, the subsequent procedural steps required to complete the process have now been finalised.· As a result, Saloro is now the legal owner of these land blocks, and as such now has full rights to access and utilise all of the lands necessary to develop the Project. Ownership of these remaining lands has been achieved well ahead of forecast.· In response to the current subdued tungsten market and revised assessments as to the optimum timing of first production, the Project JV partners have agreed to readjust the construction schedule for the Project such that commissioning now commences in mid-2018.· Saloro has agreed amendments to the Project's debt facility agreement (which remains undrawn) to reflect the new schedule, ensuring continued compliance with the agreement, and continued availability of the requisite capital.· The Project JV partners have also agreed to defer an equal portion of their respective management and monitoring Fees. As a result the annual management fee payable to Ormonde will reduce from €1 million to €750k with reinstatement of the full fee and the accrued amounts being made upon the Project achieving two consecutive quarters of positive cash flow.Steve Nicol, Ormonde's Managing Director, commented:"The completion of the final procedural steps required to obtain ownership of the remaining lands required to enable development of the Project is a significant milestone for the Project and removes land risk from the development schedule.The Company, together with its Project JV partner, recognizes the importance to the Company's shareholders, and to Project stakeholders, of ensuring that the Project comes online into a strengthening tungsten price environment, thus not exposing the Project to undue risk during the important commissioning and start-up phase. Therefore, whilst on the ground the implementation of the construction schedule continues, this schedule has been adjusted to see commencement of commissioning of the mine now occurring in mid-2018. We will continue to assess this during Project build as conditions dictate."DetailDeclaration of Urgent OccupationAs reported by the Company in late June 2016, Saloro received notice of a positive vote in favour of the Declaration by the Regional Government of Castilla y Leon. This Declaration allows for access to and use of the remaining lands which Saloro had requested to compulsorily purchase, before a final determination is made in relation to the sale value.As announced at that time, three procedural steps remained to be completed prior to ownership of the land blocks passing to Saloro. These included a public meeting with parties interested in the process, the placement, by Saloro, of financial bonds equal to the estimated value of the lands to be compulsory purchased, and the subsequent issue of the Final Acts of Occupation for the lands concerned by the Salamanca Provincial Indust
