Barruecopardo Permitting Update

RNS Number : 2819M

Ormonde Mining PLC

15 July 2014

 

15 July 2014

Ormonde Mining plc

("Ormonde" or "the Company")

Barruecopardo Permitting Update

The Board of Ormonde provides the following update on progress in connection with permitting of its flagship Barruecopardo Tungsten Project in Salamanca, Spain ("Barruecopardo" or "the Project"). 

In its press release of 29 April, 2014, Ormonde advised that the Authorities in Castilla y Leon had indicated that while the processing of the documentation for the mining concession was in its final stages, a legal review of the historic mining concessions (Barruecopardo was last operated in the 1980's) was required to be completed, with the conclusion of the permitting process anticipated in late June-July.

Ormonde has now been advised that in the legal review to-date, the Authorities have not identified any concerns in relation to the cancellation of the historic mining concessions and it understands that the review has now been largely completed.  However, a final formal request has been made by the Authorities to obtain comment from the owners of the historic cancelled concessions in relation to the cancellation process, no response having been received in relation to its initial request.  A short additional time is required for this step before the review can be completed and the new mining concession issued to Ormonde.

Kerr Anderson, Ormonde's Managing Director, commented:

"Although this additional procedural step has been required to be completed prior to finalisation of the permitting process and the issuance of the new Mining Concession, we recognise, through communication with the Authorities, the importance which they place on the correct legal issuance of the new mining permit and of the continued support for the Project at all levels of the local, provincial and regional governments in Spain."

Enquiries to:

Ormonde Mining plc

Kerr Anderson, Managing Director  Tel: [phone]

Bankside Consultants

Simon Rothschild  Mob: [phone]

Murray Consultants

Mark Brennock  Tel: [phone]  Mob: [phone]

Davy (Nomad / ESM Adviser)

Eugenée Mulhern / Roland French  Tel: [phone]

SP Angel Corporate Finance LLP(Joint Broker)

Ewan Leggat / Katy Birkin  Tel: [phone]

A glossary explaining technical terms contained in this announcement can be found at www.ormondemining.com/en/investors/technical_glossary.

For more information please visit www.ormondemining.com or follow Ormonde on Twitter https://twitter.com/ormondemining or Linkedin http://www.linkedin.com/company/ormonde-mining-plc

ENDS

About Ormonde

Ormonde Mining Plc is admitted to trading on the AIM market in London and the ESM market in Dublin. Ormonde is a mineral development and exploration company focused on Spain (Ticker: ORM).

Ormonde's key activities include:

Barruecopardo Tungsten- Ormonde is developing a low cost mining operation at Barruecopardo to become a major, secure European supply of tungsten. Following the completion of a Definitive Feasibility Study, the Environmental Permit for the Project was received in early 2014, followed shortly thereafter by the  signing of a 5 year offtake agreement with Noble Group, with Noble committing to purchase 100% of the tungsten produced at the Project during its initial five years of operation.

Gold Projects in several highly prospective areas of western Spain which includes its joint venture agreement with Aurum Mining plc (AIM: AUR).

La Zarza Copper - polymetallic massive sulphide deposit in the prolific Iberian Pyrite Belt of southern Spain.

 

END

 

 

MSCEAKXLFFELEFF