Ormonde losses reduced to €242k

ORMONDE Mining, the Co Meath-based mineral exploration company, has reported a loss of €242,000 for the six months to the end of June – significantly down on a loss of €379,000 for the first half of last year.

The Navan-headquartered company said that it has continued to make “significant technical progress” at both of its main assets in Spain; the Barruecopardo tungsten mine in the Salamanca region and the La Zarza copper, gold and zinc mine in southern Spain.

“During the period, significant effort has been directed towards moving both our main projects forward,” said chairman Michael Donoghue. “Technical evaluation work at Barruecopardo continues to lend support to our objective of becoming a major European tungsten provider, while investment by a major mining company will enable us to advance La Zarza through exploration directed towards finding a major enlargement of the copper resource,” he said.