Irish-based Ormonde Mining plc announced today, September 22, that operating losses in the first six months to June amounted to €379,000, due to corporate costs.
By Ellie Duncan
The Spain-focused exploration and development company said that its activities have concentrated on fast-tracking the Barruecopardo Tungsten Project and reviewing the La Zarza development options.
Michael Donoghue, Chairman, said: “In particular, progress on our Barruecopardo Tungsten Project has greatly exceeded our expectations in terms of both the technical results and the increasing size and economic potential of this project.
“We will now focus on finalising the technical evaluation to advance the Barruecopardo Project to the permitting and funding stage with a view to development.”
The company’s current assets at June 30, comprised €619,000 in cash and trade and other receivables of €373,000.