Ormonde in talks to fund headline asset

Irish exploration company, Ormonde Mining is in advanced talks regarding the funding of its headline asset — the Barruecopardo tungsten project in Spain.

It expects to complete the process in the coming months. During the first half of this year, the Meath-headquartered firm completed the final feasibility study of the asset — which it jointly holds with Chilean mining group, Antofagasta — as well as submission of final permitting. The feasibility study allowed Ormonde to start the funding process for the project.

Ormonde’s chairman, Michael Donoghue said: “Throughout 2012, we have been putting in place the essential building blocks to enable the transformation of the company to take place next year, with development of our flagship Barruecopardo tungsten project.