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Ormonde Mining plc is an AIM and ESM quoted mineral resource company which is developing mining projects and carrying out exploration in Spain.
Ormonde is developing the world class Barruecopardo Tungsten Mine (30% interest) with partner Oaktree Capital Management (70%), where mine commissioning is scheduled to commence in Q3 2018. Once it reaches full production, Barruecopardo will deliver ~12% of current non-Chinese world tungsten concentrate supply with operations to be expanded post start-up to become a major long-life mine.
The company’s interests also include copper and gold exploration in several highly prospective areas of western Spain.
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 is now in the development stage of a mining and processing operation which, post-commissioning, will produce ~260,000 metric tome units of WO3 of steady state production.
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
Mike Donoghue
Non-Executive Chairman and Interim Managing Director
A mining engineer by profession, Mike has wide experience in the evaluation, funding, development and operation of mines in Europe, Africa, South-East Asia, Australia and the Americas. His executive management experience includes an eight-year period as General Manager – Operations for Delta Gold NL, Australia. Mike was appointed Chairman of Ormonde in April 2004 and is also Chairman of the Remuneration Committee and a member of Audit Committee.
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.
Fraser Gardiner
COO
Fraser is a geologist with 20 years of experience in the mineral exploration and mining industry. After starting his career on gold discovery programmes and resource delineation projects in Bulgaria, Fraser worked for Ormonde from 2002-2010 on all the Company’s projects including the Barruecopardo Tungsten Project, and was a director of the Company from 2005-2010. Fraser then spent three years as Exploration Manager in Saudi Arabia for Barrick Gold Corporation and two years as Exploration Manager in Laos for a private mining business, prior to re-joining Ormonde as Chief Operating Officer in August 2017.
Board of Directors
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.