AttilaTheKiller

Ormonde Mining (#ORM $ORM)

AttilaTheKiller Updated   
LSE:ORM   ORMONDE MINING ORD EUR0.01 (CDI)
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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.