Spanish gold project back under Ormonde control

ISEQ-listed Ormonde Mining has announced that it has resumed its 100% ownership of the Tracia Gold Project in the north-west of Spain.

A first-phase drilling programme is in progress. Trenching results include grades of 34.7, 23.9, 11.3 and 8.9 grams per tonne of gold.

Swedish company International Gold Exploration got a 50% interest in the project through an earn-in agreement with Ormonde, and then sold it on to MinMet, also listed on the Dublin stock exchange.

Ormonde has subsequently acquired MinMet’s interest for a 2,667,235 Ormonde shares.

Ormonde began its day’s trading on the ISEQ at €0.13. MinMet started at €0.04.