TIDMORM 
 
RNS Number : 5540T 
Ormonde Mining PLC 
30 September 2010 
 
30 September, 2010 
 
                               Ormonde Mining plc 
                          ("Ormonde" or "the Company") 
 
 
                                Issue of Equity 
 
DUBLIN & LONDON: 30 September, 2010 - Ormonde Mining plc announces that it has 
procured placing commitments in respect of 45,454,544 new ordinary shares of 
nominal value EUR0.025 each in the Company.  The shares were placed by Davy and 
Fairfax with new and existing institutional and private investors, at a price of 
Stg5.5p per share (the "Placing") to raise in aggregate StgGBP2.5 million 
(approximately EUR2.94 million) (before expenses). 
 
The proceeds from the Placing will be used predominantly to advance Ormonde's 
flagship Barruecopardo Tungsten Project in Salamanca Province, Spain following 
the recently announced Independent Technical and Economic Review and 
Optimisation Study carried out by Scott Wilson Mining. 
 
Specifically, the Placing will be used to: 
·     Complete infill drilling to upgrade remaining Inferred Resources at 
Barruecopardo to Indicated Resources; 
·     Finalise the open pit mine designs for the first 10 years of the mine 
life; 
·     Advance the processing plant and infrastructure design work; 
·     Continue to progress the environmental and mine permitting process; and 
·     General working capital purposes. 
 
During this time it is also proposed to continue discussions with relevant 
parties on product off-take arrangements and capital funding. 
 
Commenting on the Placing, Kerr Anderson, Managing Director, said: 
 
"Following the Scott Wilson Study and this Placing, we can now rapidly progress 
our flagship tungsten project into the final evaluation and design stage which 
will form the basis for project development.  Market demands and pricing trends 
for tungsten continue to be very positive and our clear focus remains delivering 
initial tungsten production from Barruecopardo by the end of 2012. 
 
The Board is particularly pleased to broaden its institutional shareholder base 
at this time". 
 
Mike Donoghue, Kerr Anderson and Steven Nicol, Directors of the Company, have 
subscribed for 154,545, 77,273 and 77,273 new ordinary shares respectively in 
the Placing, bringing their interest in the Company to 9,610,103 or 3.26%, 
918,052 or 0.31% and 127,273 and 0.04% respectively of the issued share capital 
as enlarged by the Placing. 
 
The number of new ordinary shares the subject of the Placing is within the 
existing share allotment authorities of the Company and is within the available 
headroom in respect of which pre-emption rights have been dis-applied. 
Accordingly no new shareholder approvals are required in connection with the 
completion of the Placing. Following the Placing, the Company will have 
294,759,248 ordinary shares in issue. The new ordinary shares, which represent 
approximately 15.4% of the enlarged issued share capital, will on issue rank 
pari passu in all respects with the existing ordinary shares in the Company. 
Application will be made for the new ordinary shares to be admitted to trading 
on the AIM market of the London Stock Exchange and the ESM market of the Irish 
Stock Exchange and it is expected that the Placing will complete and dealings in 
the new ordinary shares will commence on 6 October, 2010. 
 
For further information: 
 
Ormonde Mining plc 
Kerr Anderson, Managing Director Tel: +353 (0)46 9073623 
 
Bankside Consultants 
Simon Rothschild / Louise Mason Tel: +44 (0)20 7367 8888 Mob: +44 (0)7703 167065 
 
Davy (Nomad / ESM Adviser) 
Fergal Meegan/Roland French  Tel: +353 (0)1 6796363 
 
Fairfax I.S. PLC (Joint Broker) 
Ewan Leggat/Katy Birkin  Tel: +44 (0)207 598 5368 
 
 
Additional Information 
 
Ormonde Mining plc is quoted on the AIM in London and the ESM in Dublin. Ormonde 
is a mineral development and exploration company focused on Spain, with the 
objective of developing the Barruecopardo Tungsten Project to be a major western 
tungsten mine by late 2012. 
 
 
For more information please visit www.ormondemining.com. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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