Ormonde Mining - FY 2018 results reflect mine construction and commissioning phase

Davy Research
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With historic numbers reflecting the construction and build-up phase of the Barruecopardo tungsten mine, the focus should be on the current year and onwards. To this end, the group reports that the mill is achieving design output rates and is also beginning to achieve the correct concentrate specifications. Ore feed grades are too low at present (as previously reported) and a push to access the main orebody by the end of this year is currently underway. With design ore grades scheduled for a mill already operating well with lower grades, the group expects an improved performance in 2020.