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Last €0.04 EUR
Change Today +0.002 / 5.71%
Volume 17.0K
ORM On Other Exchanges
As of 12:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

ormonde mining plc (ORM) Snapshot

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Day High
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52 Week High
09/9/14 - €0.08
52 Week Low
08/25/14 - €0.02
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ormonde mining plc (ORM) Details

Ormonde Mining Plc, is engaged in the acquisition, exploration, and development of mineral resource projects in Spain. The company primarily owns 100% interest in the Barruecopardo tungsten project comprising 6 investigation permits in the Salamanca province in western Spain totaling approximately 272 square kilometers. It also holds interest in the La Zarza Copper project, a sulphide deposit with copper, gold, and zinc resources in the Iberian Pyrite Belt mining district in southwest Spain, as well as carries out gold exploration in various areas of western Spain. The company was formerly known as Burmin Exploration and Development plc and changed its name to Ormonde Mining Plc in August 1995. Ormonde Mining Plc was incorporated in 1983 and is based in Clonee, Ireland.

20 Employees
Last Reported Date: 06/20/14
Founded in 1983

ormonde mining plc (ORM) Top Compensated Officers

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Executives, Board Directors

ormonde mining plc (ORM) Key Developments

Ormonde Mining plc Finalises Project Financing Arrangements for the Development of its Barruecopardo Tungsten Project in Salamanca

The Board of Ormonde Mining plc advised that it has finalised project financing arrangements for the development of its Barruecopardo Tungsten Project in Salamanca, Spain through the signing of binding agreements with OCM Luxembourg Tungsten Holdings S. A R.L., funds managed by Oaktree Capital Management, L.P. Under the Financing Oaktree has committed to provide a total of USD 99.7 million, which secures the full funding for the development of Barruecopardo, together with a significant budget to conduct the early evaluation of a potential underground mining Stage 2 expansion of the Project. The Financing is split favourably between a large component of project equity of USD 44.2 million and project debt of USD 55.5 million. The debt facility includes flexible repayment terms which would allow for: cash to be retained within the business and applied towards the fast track development of an eventual underground mining Stage 2 expansion. the option of dividends to be distributed to Oaktree and Ormonde during the term of the facility. A shareholder agreement, which governs Barruecopardo JV, details a number of important decisions requiring the consent of both parties, providing a number of minority protections for Ormonde. Ormonde will receive an annual management fee of EUR 1.0 million for services to be provided to the Barruecopardo Project under a management services agreement. This fee will cover Ormonde's current working capital requirements. The Financing also provides funds to allow Ormonde repay the USD 1.5 million working capital loan facility provided by Oaktree under a loan agreement entered into in February 2015. The Financing has been structured in a way that mitigates against the possibility of further dilution for Ormonde Shareholders through: the comprehensive nature of the funding package including a significant cost overrun provision; a debt facility with flexible repayment terms and an ability to retain cash to develop the business and an annual management fee.

Ormonde Mining plc, Special/Extraordinary Shareholders Meeting, May 19, 2015

Ormonde Mining plc, Special/Extraordinary Shareholders Meeting, May 19, 2015. Agenda: To approve Oaktree funding package.

Ormonde Mining plc Signs Loan Agreement Relating to the Provision by Oaktree

Ormonde Mining plc signed a loan agreement relating to the provision, by Oaktree to Ormonde, of $1.5 million, secured on a first priority basis by way of a share pledge of the project holding company. The loan is provided on normal commercial terms and repayable after six months from drawdown, with the repayment date being automatically extended by a period equal to any subsequent extension to the exclusivity period. This loan arrangement provides the company with near term working capital as it finalizes project finance arrangements.


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