Ormonde Mining PLC

Published : April 15th, 2015

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Placing

Placing Announcement 2015 v6

15 April 2015

AURUM MINING PLC (AIM: AUR)

Issue of New Equity

Directorate change

Aurum plc ('Aurum plc' or the 'Company'), the Spanish focused gold and tungsten explorer, is pleased to announce that it has completed a subscription of 25,758,356 New Ordinary Shares to new and existing Shareholders at a price of 1 pence per share to raise approximately £257,500 before expenses ('the Subscription').
David Williams, a long term shareholder in the Company is acquiring 14,000,000 of New Ordinary Shares taking his total holding up to 50,083,994 shares representing 29.14 per cent. of the enlarged share capital. David's participation in the Subscription constitutes a related party transaction in accordance with AIM Rule 13. The Directors, having consulted with the Company's nominated adviser WH Ireland, consider the terms of the transaction with David Williams to be fair and reasonable insofar as its shareholders are concerned.
The Subscription will be used to fund working capital requirements to enable the business to advance its transformation as set out in its most recent Annual Report.
To facilitate the transformation process and to further reduce costs, the Company also announces further Directorate changes. In addition to the recent departure of Chris Eadie from the Board, Mark Jones will also be stepping down form the Board with effect from the Admission of the New Ordinary Shares to trading on AIM at which point David Williams will be appointed to the Board as Chairman. Sean Finlay will be stepping down as Chairman but will remain on the Board as a Non-Executive Director. Haresh Kanabar will also be remaining on the Board as a Non-Executive Director.

Sean Finlay, Aurum's Chairman commented: 'The Company's is currently seeking ways to best exploit its existing assets and as previously indicated the Board is also seeking a transformational deal for the Company that may be outside the natural resources sector. With this in mind I am delighted to welcome David to the Board. Over recent years, David has been a highly supportive major shareholder and I believe his experience will play a very significant role in the transformation of the Company and I look forward to keeping the market updated on progress. I would also like to take the opportunity to thank Mark for his very significant efforts and commitment on Aurum's behalf over a number years.'

In accordance with the Disclosure and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission its issued share capital will consist of
171,850,286 Ordinary Shares of 1p each. The Company does not hold any shares in treasury. Shareholders may use these figures as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules. Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. It is expected that Admission will become effective at 8.00 a.m. on 20 April 2015.
The following details in relation the appointment of David Jeffreys Williams (aged 62) are disclosed in accordance with in accordance with Schedule 2(g) of the AIM Rules

Current directorships Past directorships held within last five years

Breedon Aggregates Limited
Dunnings Limited
DW Pension Fund Limited
Grissan Limited
Jersey Royal Land Holdings Limited Marwyn 11 Buckingham Street LLP Marwyn Managing Partners LP Peclet Limited
Tessera Investment Partners
DTR Investments Limited Marwyn Investment Limited Marwyn Partners LP
Zetar plc

TAPT Property Limited
TOPP Property Limited
Mr Williams will hold 50,083,994 shares in Aurum following Admission of the New Ordinary Shares, representing 29.14 per cent. of the Company's issued share capital.
There are no other disclosures required in accordance with Schedule 2(g) of the AIM Rules
Contacts:
Aurum Mining plcwww.aurummining.net
Sean Finlay +44 (0) 207 499 4000

WH Ireland Limited Nominated Adviser & Broker

Mike Coe, Ed Allsopp +44 (0) 117 945 3470
Notes to Editors:
Aurum Mining is an AIM listed exploration and development company focused on its highly prospective portfolio of gold and tungsten assets in North West Spain.

Gold

Through its joint venture agreement with Ormonde Mining plc (AIM: ORM), Aurum currently has a majority interest in the Pino de Oro project in Zamora Province and the Peralonso and Cabeza projects in Salamanca Province.

Tungsten

Aurum's 20% owned Morille Tungsten project is located approximately 15km south west of
Salamanca in North West Spain and covers an area of 5,796 hectares. The permit area is a
'brownfield' site with historical data indicating production from the site of high quality tungsten concentrates.

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Ireland | Jersey | Spain | All
Gold and Silver Prices for these countries : Ireland | Jersey | Spain | All

Ormonde Mining PLC

DEVELOPMENT STAGE
CODE : ORM.L
ISIN : IE0006627891
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Ormonde Mining is a zinc and lead exploration company based in Ireland.

Ormonde Mining develops zinc, lead, copper, gold, silver and tungsten in Spain, and holds various exploration projects in Spain.

Its main assets in development are LA ZARZA and BARRUECOPARDO in Spain and its main exploration property is SALAMANCA & ZAMORA in Spain.

Ormonde Mining is listed in United Kingdom. Its market capitalisation is GBX 359.1 millions as of today (US$ 429.6 millions, € 376.3 millions).

Its stock quote reached its highest recent level on September 10, 2004 at GBX 9.97, and its lowest recent point on March 13, 2020 at GBX 0.42.

Ormonde Mining has 472 507 482 shares outstanding.

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Project news of Ormonde Mining PLC
3/16/2011(Salamanca & Zamora)Salamanca-Zamora Gold Exploration Update
3/2/2011(Barruecopardo)Barruecopardo Drilling Progress
5/27/2010(Barruecopardo)Doubling and major upgrade of tungsten Mineral Resource
10/27/2009(La Zarza)JV with Antofagasta on La Zarza
2/19/2010(La Zarza)Update on activities in Joint Venture with Antofagasta on La...
7/13/2009(La Zarza)Exploration deal with Major on La Zarza
7/15/2008(Barruecopardo)Issue of equity to fund Barruecopardo Tungsten Project
6/17/2008(Barruecopardo)New resource estimate trebles the size of the Barruecopardo ...
4/1/2008(Barruecopardo) Best drilling intersection to-date from the Barruecopardo T...
2/26/2008(Barruecopardo)Further drilling success at Salamanca Tungsten ProjectConten...
1/24/2008(Barruecopardo) Tungsten Resource & Preliminary Economic Evaluation
12/6/2007 Tungsten Drilling ResultsContent-class: urn:content-classes...
11/8/2007(La Zarza) Reports Thick zinc intersections from La Zarza drilling
9/27/2007Tungsten Drilling Results
8/7/2007Reports high grade gold drilling intercepts at its Salamanca...
5/10/2007reports high-grade tungsten in Salamanca drilling
5/2/2006(Salamanca & Zamora)extends new Salamanca gold zone to 2,5 km
Corporate news of Ormonde Mining PLC
9/16/2016Notification of Interest
6/28/2016Declaration of Urgent Occupation - Approved
6/28/2016Publication of Annual Report
6/17/2016Aurum Mining PLC - Convertible Loan and Trading Update
6/16/2016Final Results 2015
6/15/2016Barruecopardo Update
6/7/2016Barruecopardo Drilling Results
5/25/2016Drilling Update
4/15/2015Placing
3/24/2015Directorate Change
11/23/2014Barruecopardo - Granting of Mining Concession
4/10/2013Hemscott News Alert - Ormonde Mining PLC
2/22/2013Hemscott News Alert - Ormonde Mining PLC
2/4/2013Hemscott News Alert - Ormonde Mining PLC
1/23/2013Hemscott News Alert - Ormonde Mining PLC
11/9/2012Hemscott News Alert - Ormonde Mining PLC
10/15/2012Hemscott News Alert - Ormonde Mining PLC
9/17/2012Hemscott News Alert - Ormonde Mining PLC
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6/6/2012Hemscott News Alert - Ormonde Mining PLC
3/28/2012Hemscott News Alert - Ormonde Mining PLC
3/12/2012Hemscott News Alert - Ormonde Mining PLC
2/28/2012Hemscott News Alert - Ormonde Mining PLC
2/13/2012Hemscott News Alert - Ormonde Mining PLC
12/6/2011Hemscott News Alert - Ormonde Mining PLC
9/29/2011Hemscott News Alert - Ormonde Mining PLC
5/16/2011Hemscott News Alert - Ormonde Mining PLC
4/14/2011Hemscott News Alert - Ormonde Mining PLC
6/30/2010Issue of Equity
4/12/2010Signs Option Agreement over Tharsis Project, Spain
9/28/2009Interim Results
7/20/2009Issue of Equity
5/26/2009Preliminary Results 2008
9/22/2008Interim Results
6/12/2008AGM operational update
5/13/2008Final results for the year ending 31 December 2007
5/12/2008 Related tungsten news
5/9/2008Ormonde Mining Announcement
4/16/2008 Steve Nicol joins Ormonde BoardContent-class: urn:content-c...
11/13/2007Multi-vein nature of Spanish tungsten project
11/1/2007 Wide gold intersection in Salamanca
7/12/2007Consolidates 100% interest in La Zarza Copper-Gold Project
7/4/2007Upgrades Barruecopardo Tungsten Prospec
5/16/2007Final Results for the year ended 31 December 2006
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