Ormonde Mining (#ORM $ORM)

AttilaTheKiller Updated   
Simple oversold play. Lower BB, oversold RSI , lovely capitulation candle and POC higher than current price. On the FA side, c. £5m disposal proceeds coming in and new management. No liabilities and some bagatelle gold licences.Worth riding up to cash levels (1.08p ish ) and more if it captures the herd's attention. Near term placing seems unlikely (except for any new acquisitions later on).
Comment: Sold around 1p in the first run-up and back in around 0.55. Cash position still the same attraction and any rumours/news will get this moving again. Thomas Anderson has increased his stake and has Dunraven Resources which he may be looking to vend in. Makes sense given there is a ready cash pile to save him having to place with the bucketshops.


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