Funding goal for mining company

Ormonde Mining is confident of finalising funding for the development of its headline asset — the Barruecopardo tungsten mine in western Spain — “over the coming months”.

On the back of a positive set of full-year financial results yesterday, the Dublin-headquartered exploration company’s chairman, Mike Donoghue, said a study of the project “demonstrated the technical feasibility and exceptional economics of this world-class tungsten asset”.

“Its completion has enabled us to advance earlier discussions with interested parties, in relation to funding the project to a stage whereby we anticipate finalisation of funding arrangements over the coming months,” he said.