Ormonde losses narrow

Mining group Ormonde made a loss in 2004 of €376,140 for 2004, a narrowing of losses over the 2003 figure of €449,383, which included the write-off of investments in projects in Tanzania.

In 2004, the group bought Spain's La Zarza gold-copper project and the Salamanca gold project, upgraded and reconsolidated the Tracia Gold Project into 100% Ormonde ownership, and completed drilling programmes on the Salamón and Trives gold projects.