Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Ormonde Mining progressing to plan

Chief among the landmarks was the receipt of the declaration of urgent occupation, paving the way for the compulsory purchase of land around the mine.
Ormonde Mining progressing to plan
Drilling work is underway to assess the potential for an underground mine.

Ormonde Mining plc (LON:ORM) has confirmed that its Barruecopardo tungsten mine remains on track to go into production at the end of next year.

The update was provided in the firm’s interim results, which charted six months of significant progress.

Chief among the landmarks was the receipt of the declaration of urgent occupation, paving the way for the compulsory purchase of land around the mine.

The construction schedule has been agreed, while the engineering design and awarding of processing plant equipment supply contracts is “proceeding in line with budget”.

The company has also launched a drilling campaign to assess the potential for a longer-term underground operation.

Barruecopardo mine is permitted and fully financed to the tune of just under US$100mln.

"We look forward to the full construction stage of the Project once the remaining land access procedural steps have been completed,” said chairman Michael Donoghue.

The company made an operating profit of €120,000 for the six months ended June 30.

View full ORM profile View Profile

Ormonde Mining plc Timeline

Related Articles

galileo resources team at Concordia copper project
May 15 2017
“We consider the drill programme a success and consider our in-house model for Concordia is developing favourably towards a major copper resource”
Impact’ Dr Mike Jones details technical review of Pilbara conglomerate-hosted gold in Proactive Q&A
October 22 2017
We are joined exclusively by Dr Mike Jones to discuss conglomerate-hosted gold.
1506662375_emmerson-resources_rob-bills-1-highres-757.jpg
September 29 2017
Rob Bills, managing director, talks exclusively with Proactive Investors.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use