Ormonde Mining Plc is an AIM & ESM listed mineral resource company which is developing mining projects and carrying out exploration in Spain.
Ormonde’s key activities:
- The Barruecopardo Tungsten Project – Ormonde (as Manager), together with its partner Oaktree Capital Management (30%:70% respective interests), is currently developing this world class tungsten project. Once in full production the project will deliver ~12% of current non-Chinese world tungsten concentrate supply; operations to be expanded post start-up to become a major long-life mine.
- Gold exploration in several highly prospective areas of western Spain.
- La Zarza Copper-Gold Project – “Massive sulphide” style deposit with significant associated copper, gold and zinc resources.
Barruecopardo Tungsten Project
The Barruecopardo Project is a low cost, simple mining and simple metallurgy tungsten project, located in the safe and stable location of Western Spain. Ormonde optioned Barruecopardo in 2006 and since then has successfully defined, designed, permitted and funded the Project. The funding for the Project was agreed with Oaktree Capital Management in 2015 and consists of a robust package of equity – US$44.4 million and debt – $55.5 million. Ormonde retains 30% of the Project with Oaktree holding 70%.
The Project has now entered the development stage of a mining and processing operation which, after commissioning, will produce ~260,000 metric tome units of WO3 of steady state production, scheduled for end Q2 2018.
Tungsten
Tungsten is an industrial metal with critical properties which include having the highest melting point, lowest vapour pressure and highest tensile strength of all metals. These and other properties result in there being limited or no substitutes available for most of its key applications, which include its use in the high speed cutting, drilling, pressing and moulding of materials of all types and strengths.
Our Management Team
Steve Nicol
Managing Director
Steve is a mining engineer with some 25 years experience in the mining industry, initially in operations and subsequently in mine evaluation and development projects. He has held production supervisory roles in various underground and open pit mines in Australia and Europe, culminating in a two year period as Managing Director of an Italian based gold mining and exploration operation. Prior to joining Ormonde, Steve had been operating as an independent consultant working on gold and base metal mine evaluation projects in Romania, Greece, Italy, Guinea, Kazakhstan, Canada and the Congo. Steve was appointed to the Board as Chief Operating Officer in April 2008 and has managed Spanish operations since that time, including the successful completion of a definitive feasibility study, permitting and financing for the Barruecopardo Project. Steve was appointed to the role of Managing Director in September 2015.
Paul Carroll
CFO
Paul is an experienced Chartered Certified Accountant with ~7 years experience in the mining sector in the areas of corporate development, finance and investor relations. In his initial role as Ormonde’s Corporate Development Manager, Paul played a lead role in discussions and negotiations in relation to the financing of the Barruecopardo Project and was subsequently appointed to the role of CFO in 2015. Prior to joining Ormonde, he gained wide ranging corporate experience in CFO/Financial Controller roles including within the digital media and financial services sectors.
Board of Directors
Steve Nicol
Managing DirectorSteve is a mining engineer with some 25 years’ experience in the mining industry, initially in
Mike Donoghue
Non-Executive ChairmanA mining engineer by profession, Mike has wide experience in the evaluation, funding, development
John Carroll
Company Secretary & Non-Executive DirectorJohn is a chartered secretary with over 30 years experience including seven years as a manager with
Jonathan Henry
Non-Executive DirectorJonathan is currently President and Chief Executive Officer of TSX-listed Gabriel Resources Ltd.