Approach from Almonty Industries

11 March, 2015

Ormonde Mining plc

("Ormonde" or "the Company")

Approach from Almonty Industries

The Board of Ormonde Mining plc ("Ormonde") confirms, as announced by Almonty Industries Inc. ("Almonty"), that it last night received an unsolicited indicative non-binding proposal with respect to a potential offer for Ormonde.

The proposal from Almonty, which does not include any material detail as to how the necessary project financing for the Barruecopardo Project would be secured, is conditional, inter alia, upon due diligence and the recommendation of the Board of Ormonde.

The Board of Ormonde will respond to Almonty and provide a further update to Shareholders in relation to this approach in due course. In the meantime, Ormonde Shareholders are strongly advised to take no action with respect to the approach from Almonty.

This announcement is made in accordance with the requirements of Rule 2.2 of the Irish Takeover Rules.

Enquiries: 

Ormonde Mining plc

Kerr Anderson, Managing Director Tel: +353 (0)1 8253570

Davy Corporate Finance (Nomad / ESM Adviser and Financial Adviser to Ormonde)

Eugenée Mulhern / Roland French Tel: +353 (0)1 6796363

SP Angel Corporate Finance LLP (Joint Broker)

Ewan Leggat / Katy Birkin Tel: +44 (0)20 3 470 0470

Capital M Consultants

Simon Rothschild Mob: +44 (0)7703 167065

Murray Consultants

Mark Brennock Tel: +353 (0)1 4980300 Mob: +353 (0)87 2335923

The Directors of Ormonde accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors of Ormonde (having taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

Any holder of 1% or more of any class of relevant securities of Ormonde or of Almonty may have disclosure obligations under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules 2013. 

No statement in this announcement is intended to be an asset valuation or a profit forecast and profits and earnings per share will not necessarily be changed.

Davy and Davy Corporate Finance each of which are regulated in Ireland by the Central Bank of Ireland, are acting for Ormonde and no one else in relation to the matters referred to herein. In connection with such matters, Davy and Davy Corporate Finance, its affiliates and their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to anyone other than Ormonde for providing the protections afforded to their clients or for providing advice in connection with the matters described in this announcement or any matter referred to herein