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Ormonde Mining PLC

Publié le 12 mars 2012

Hemscott News Alert - Ormonde Mining PLC

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Mots clés associés :   Copper | Ormonde  mining |
RNS Number : 0901Z
Ormonde Mining PLC
12 March 2012
 

???

12 March, 2012

 

 

Ormonde Mining plc

 

("Ormonde" or "the Company")

 

 

Placing raising Stg?3.39 Million (?4.04 Million)

 

DUBLIN & LONDON: 12 March, 2012 - Ormonde Mining plc announces that it has procured placing commitments in respect of 33,910,896 new ordinary shares of nominal value ?0.025 each in the capital of the Company.  The Placing, conducted by Davy and Fairfax, was oversubscribed with shares placed with new and existing institutional and private investors, at a price of Stg10p per share (the "Placing") raising in aggregate Stg?3.39 million (approximately ?4.04 million) (before expenses).

 

The net proceeds from the Placing will enable Ormonde to continue with its preparations for development of its flagship Barruecopardo Tungsten Project in Salamanca Province, western Spain.

 

Approximately ?1.6 million will be used to fund initial engineering design work at Barruecopardo ahead of completion of capital funding, and approximately ?0.5 million will be paid to SIEMCALSA as consideration due in connection with Ormonde's 2011 acquisition of the final 10% interest in the Barruecopardo Tungsten Project, thereby consolidating Ormonde's 100% interest in both the Project and the surrounding tungsten and gold exploration permits.  The balance of the net proceeds of the Placing will be used for general working capital purposes.

 

As part of the Placing, Mike Donoghue, a Director and the Chairman of Ormonde, participated in respect of 500,000 ordinary shares. Following completion of the Placing his interest in the share capital of the Company will be 3,244,994 ordinary shares, representing 0.87% of the enlarged issued share capital of the Company.

 

Commenting on the Placing, Kerr Anderson, Managing Director, said:

 

"The completion of this Placing, together with the recent release of the very positive results of the Definitive Feasibility Study for our Barruecopardo Tungsten Project, which confirmed the Project's low capital cost and exceptional economics, places the Company in a strong position to move forward with a number of critical activities over the coming months, including finalisation of off-take and capital funding arrangements. The Company welcomes the strong support from both existing and new shareholders and looks forward to informing them on successful progress atBarruecopardo and on our other Spanish projects"

 

The number of new ordinary shares the subject of the Placing is within the existing share capital and allotment authorities of the Company and is within the available headroom in respect of which pre-emption rights have been dis-applied. Accordingly no new shareholder approvals are required in connection with the completion of the Placing.. Following the Placing, the Company will have 373,019,855 ordinary shares in issue. The new ordinary shares, which represent approximately 9.09% of the enlarged issued share capital, will on issue rank pari passu in all respects with the existing ordinary shares in the Company. Application has been made for the new ordinary shares to be admitted to trading on the AIM market of the London Stock Exchange and the ESM market of the Irish Stock Exchange and it is expected that the Placing will complete and dealings in the new ordinary shares will commence on 14 March, 2012.

 

 

For more information please visit www.ormondemining.com.

 

 

 

For further information:

 

Ormonde Mining plc

Kerr Anderson, Managing Director  Tel: +353 (0) 1 8253570

 

Bankside Consultants

Simon Rothschild  Tel: +44 (0)20 7367 8888   Mob: +44 (0)7703 167065

 

Murray Consultants

Ed Micheau  Tel: +353 (0)1 4980300  Mob: +353 (0)86 803 7155

 

Davy (Nomad / ESM Adviser)

Eugen?e Mulhern / Roland French  Tel: +353 (0)1 6796363

 

Fairfax I.S. PLC (Joint Broker)

Ewan Leggat / Katy Birkin  Tel: +44 (0)207 598 5368

 

 

 

About Ormonde

Ormonde Mining Plc is admitted to trading on the AIM market in London and the ESM market in

Dublin. Ormonde is a mineral development and exploration company focused on Spain (Ticker

ORM).

 

Ormonde's key activities include:

The Barruecopardo Tungsten Project - Ormonde is developing a low cost mining operation at Barruecopardo to produce ~12% of non-Chinese annual global mine production.

 

The La Zarza Copper Project - a large "massive sulphide" deposit with significant copper resources; exploration for an enlargement to the current copper resource is being funded through a joint venture with Antofagasta Minerals.

 

Gold Exploration in several highly prospective areas of western Spain.

 

 

 

Forward Looking Statements

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur.  Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. 

 

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein.  Except as required by applicable law or regulation, Ormonde does not intend to update any forward-looking statements to conform these statements to actual results.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Ormonde Mining PLC

EN DÉVELOPPEMENT
CODE : ORM.L
ISIN : IE0006627891
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Ormonde Mining est une société d’exploration minière de zinc et de plomb basée en Irlande.

Ormonde Mining est en développement de projets de zinc, de plomb, d'argent, de cuivre, d'or et de tungsten en Espagne, et détient divers projets d'exploration en Espagne.

Ses principaux projets en développement sont LA ZARZA et BARRUECOPARDO en Espagne et son principal projet en exploration est SALAMANCA & ZAMORA en Espagne.

Ormonde Mining est cotée au Royaume-Uni. Sa capitalisation boursière aujourd'hui est 267,0 millions GBX (319,4 millions US$, 279,8 millions €).

La valeur de son action a atteint son plus haut niveau récent le 10 septembre 2004 à 9,97 GBX, et son plus bas niveau récent le 13 mars 2020 à 0,42 GBX.

Ormonde Mining possède 472 507 482 actions en circulation.

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Projets de Ormonde Mining PLC
16/03/2011(Salamanca & Zamora)Salamanca-Zamora Gold Exploration Update
02/03/2011(Barruecopardo)Barruecopardo Drilling Progress
27/05/2010(Barruecopardo)Doubling and major upgrade of tungsten Mineral Resource
27/10/2009(La Zarza)JV with Antofagasta on La Zarza
19/02/2010(La Zarza)Update on activities in Joint Venture with Antofagasta on La...
13/07/2009(La Zarza)Exploration deal with Major on La Zarza
15/07/2008(Barruecopardo)Issue of equity to fund Barruecopardo Tungsten Project
17/06/2008(Barruecopardo)New resource estimate trebles the size of the Barruecopardo ...
01/04/2008(Barruecopardo) Best drilling intersection to-date from the Barruecopardo T...
26/02/2008(Barruecopardo)Further drilling success at Salamanca Tungsten ProjectConten...
24/01/2008(Barruecopardo) Tungsten Resource & Preliminary Economic Evaluation
06/12/2007 Tungsten Drilling ResultsContent-class: urn:content-classes...
08/11/2007(La Zarza) Reports Thick zinc intersections from La Zarza drilling
27/09/2007Tungsten Drilling Results
07/08/2007Reports high grade gold drilling intercepts at its Salamanca...
10/05/2007reports high-grade tungsten in Salamanca drilling
02/05/2006(Salamanca & Zamora)extends new Salamanca gold zone to 2,5 km
Communiqués de Presse de Ormonde Mining PLC
16/09/2016Notification of Interest
28/06/2016Declaration of Urgent Occupation - Approved
28/06/2016Publication of Annual Report
17/06/2016Aurum Mining PLC - Convertible Loan and Trading Update
16/06/2016Final Results 2015
15/06/2016Barruecopardo Update
07/06/2016Barruecopardo Drilling Results
25/05/2016Drilling Update
15/04/2015Placing
24/03/2015Directorate Change
23/11/2014Barruecopardo - Granting of Mining Concession
10/04/2013Hemscott News Alert - Ormonde Mining PLC
22/02/2013Hemscott News Alert - Ormonde Mining PLC
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09/11/2012Hemscott News Alert - Ormonde Mining PLC
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30/06/2010Issue of Equity
12/04/2010Signs Option Agreement over Tharsis Project, Spain
28/09/2009Interim Results
20/07/2009Issue of Equity
26/05/2009Preliminary Results 2008
22/09/2008Interim Results
12/06/2008AGM operational update
13/05/2008Final results for the year ending 31 December 2007
12/05/2008 Related tungsten news
09/05/2008Ormonde Mining Announcement
16/04/2008 Steve Nicol joins Ormonde BoardContent-class: urn:content-c...
13/11/2007Multi-vein nature of Spanish tungsten project
01/11/2007 Wide gold intersection in Salamanca
12/07/2007Consolidates 100% interest in La Zarza Copper-Gold Project
04/07/2007Upgrades Barruecopardo Tungsten Prospec
16/05/2007Final Results for the year ended 31 December 2006
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