Ormonde Mining plc plans to cancel its AIM and Euronext Growth Market listings as part of its proposed investment via a subscription in a Canadian gold-copper explorer. RULES The company became an AIM Rule 15 cash shell in October 2022 and was required to make an acquisition or acquisitions constituting a reverse takeover (RTO) on, […]
Tag: Ormonde Mining plc
Ormonde plans majority share in Golden Rose
Ormonde Mining plc plans a 36.2% controlling investment, with an option for a further 10%, in a Canadian explorer of a gold-copper asset with “world-class” potential in Newfoundland. CAPITAL The company said that the acquisition, subject to Ormonde shareholder approval, is via a private subscription for 60 million new common shares of TRU Precious Metals […]
Ormonde acquires 20% stake in Peak Nickel
Ormonde Mining plc has acquired a 20% interest in Sheffield-based Peak Nickel Ltd which has interests in “battery metal” mining prospects. PROGRAMME The company said its investment would enable a “fast-track initial work programme” aimed at identifying modern, code-compliant resources. Ormonde will pay £450,000 and is granted exclusive option either to invest up to a […]
Ormonde completes €2.3m La Zarza assets sale
Ormonde Mining plc has completed the €2.3 million sale of its land, data and drillcore assets at La Zarza copper-gold-zinc project in Spain. The company has now received an initial €800,000 from the purchaser La Zarza Mineria Metalica S.L.U., a subsidiary of Tharsis Mining S.L. The balance will be paid in three equal payments of […]
Shareholders back Ormonde’s €2.3m sale of La Zarza
Ormonde Mining plc has received 99.77% shareholder approval for the €2.3 million sale of its La Zarza copper-gold-zinc project in Spain. ACQUISITIONS The vote was held in the company’s extraordinary general meeting earlier today. Following completion of the sale, Ormonde will become an AIM Rule 15 cash shell and have to make an acquisition or acquisitions constituting […]
Ormonde cuts losses and considers next projects
Ormonde Mining plc’s “significant reductions” in management salaries resulted in more than halving losses from its base and precious metal operations in Spain. FINANCES For the six months ended 30 June 2022 the company’s results showed post-tax losses of €363,000 (2021: €630,000 loss). Ormonde held €3.4m in cash (€3.7m at 31 Dec 2021). OPERATIONS The company conditionally sold La Zarza for €2.3 […]