Ormonde Was Undervalued by the Market

 London brokers RFC Ambrian said Ormonde was undervalued by the market. It believes the project would get full permission before the end of this year and is confident of local support in the area, as it is very much in need of employment.

"Local infrastructure is excellent, as one would expect within the EU. The area is a historical mining area and well linked by road and power. There is a local supply of water for processing and a local supply of labour. Tungsten is viewed as a strategic metal with no substitute available," said the broker.

Ormonde is currently trying to secure funding for the development. Chairman Michael Donoghue said discussions with a range of banks for loans as well as with parties who might provide finance in return for equity have advanced.

Its feasibility study on the mine said that over a nine-year span, the mine would generate cash flows of €29m per year.As well as its tungsten operation, Ormonde mines copper and gold in Spain.
 

More molybdenum product: http://www.molybdenum.com.cn
Tel: 0592-5129696 Fax：0592-5129797
E-mail: sales@chinatungsten.com
Tungsten Picture Center: http://picture.chinatungsten.com
Tungsten Video Center: http://v.chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com

• < Prev
• Next >