22nd Jun 2015 08:30
LONDON (Alliance News) - Ormonde Mining PLC on Monday said it has closed the financing package for the Barruecopardo tungsten project in Salamanca in Spain.
Ormonde said it has received the initial USD25 million in equity funds from the financing and said work has started on the initial key activities required at the project.
The company added it is in final talks on the stage-three construction management contract and said commissioning of the site is being targeted for the end of 2016.
Shares in Ormonde were up 1.4% to 1.8 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
ORM.L