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Ormonde Mining plc

Ormonde Mining hails significant advancements in the development of the Barruecopardo mine

The average site headcount at the tungsten project in the first half of the year was 127, including 32 from Barruecopardo and surrounding towns

The processing plant at Barruecopardo
The processing plant at Barruecopardo

Ormonde Mining plc (LON:ORM) is now focused on the completion of construction and commissioning of the plant at the Barruecopardo tungsten project.

In an interim results statement covering the first half of 2018, the company hailed a number of significant advancements in the development of the mine (see Proactive Investors news item, below).

READ: Ormonde Mining achieves “major milestone” in development of Barruecopardo tungsten project

Half-year turnover was unchanged at €375,000 while the loss for the period widened to €73,000 from €12,000 the year before.

"The year to date has seen significant advancements for Ormonde, as the Barruecopardo Tungsten Project has progressed through its construction phase and into the important commissioning phase, which commenced in August 2018. This key milestone was achieved on budget and materially in line with the Project's construction schedule,” said Mike Donoghue, Ormonde’s chairman and interim managing director.

"The focus over the coming period will be on the completion of construction and commissioning of the plant, in tandem with work surrounding updates to the mining schedule and operational budgets for the initial year of mining ahead of the project entering its production phase in the first quarter of 2019," he added.

Quick facts: Ormonde Mining plc

Price: £0.02

Market: AIM
Market Cap: £9.92 m
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Watch

Ormonde Mining's Steve Nicol upbeat as Barruecopardo tungsten mine continues...

Ormonde Mining managing director Steve Nicol sat down with Proactive Investors to talk us through the busy phase of work currently underway as the development of the Barruecopardo tungsten mine progresses towards completion. Fully funded, fully permitted and on track for a 2017 start up,...

on 26/7/16

2 min read