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 […]
Tag: Ormonde Mining plc
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 […]
Ormonde enters conditional €2.3m sale of La Zarza interests
Ormonde Mining plc has signed a conditional framework agreement for the €2.3 million sale of its interests in the La Zarza copper-gold project in Spain. TRANSACTION The transaction is with La Zarza Mineria Metalica S.L.U, a subsidiary of Spanish company Tharsis Mining S.L, which controls the mining rights to La Zarza. The sale comprises Ormonde’s […]
Ormonde looks to Africa-Europe projects
Ormonde Mining plc said it was reviewing a range of new opportunities for base and precious metals, battery metals and precious stones in Africa and Europe. TRANSITION The company made the announcement in its final results for the year ended 31 December 2021 which showed a total comprehensive loss of €1.6 million, including €400,000 asset […]