Ormonde Mining plc has received shareholder approval to invest an initial 36.2% controlling interest in TRU Precious Metals Corp, exploring for gold and copper in Newfoundland.
AQSE
The Dublin-based company will focus on TRU’s Golden Rose project as well as evaluation of other mineral property opportunities.
Ormonde retains its 20% interest in Peak Nickel Ltd focused on a battery metals project, as yet with no details published.
The €1.5 million expected over three years from the sale of La Zarza assets will go towards further investment and working capital.
Ormonde also received support to cancel its shares on AIM on the London Stock Exchange and EuroNext Growth on or around 5 September 2023.
The company has applied to trade on the Access segment of the AQSE Growth Market (AQSE), with admission expected on 4 September 2023.
Shareholders agreed to the investment and AQSE listing today at Ormonde’s extraordinary general meeting and general meeting.
As at November 2021, Empire Cinemas owner Thomas Anderson held a total of 24.41% of Ormonde’s shares.