Ormonde Mining’s Spanish deal may net €5m

Ormonde Mining, the Co Meath-based mineral resource firm, is hoping to sell its La Zarza copper and gold project, in the south of Spain, for €5m in the second quarter of this year.

The company — which also has a gold prospect near its headline asset, the Barruecopardo Tungsten project in Salamanca, in north-western Spain — has signed a binding option agreement with Spanish company, Nueva Tharsis.

This could — pending the successful completion of due diligence by May 15 — result in the Clonee- headquartered firm selling its 100% ownership of the asset, via its Spanish subsidiary, Ormonde Espana, for €5m.