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Ormet Corp. (ORMTQ)
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4/22/2016 11:50:01 AM
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The Ormet Corporation
Ormet Corporation engages in the production and sale of primary aluminum and related products in the United States. It offers aluminum/sows and alumina primarily to commodity traders. The company was founded in 1956 and is headquartered in Hannibal, Ohio.
Current Status of Company: At this time, the Company is currently in Chapter 11 bankruptcy as it continue to reorganize its assets and liabilities. The plant is in full curtailment, but has been shutdown in a manner which allows each of the 6 potlines to be restarted immediately. The shutter was executed beginning in the middle of October 2013.
Sequential Summary of Recent Events--
At this time, Ormet Corporation is shutdown due to extraordinary operating costs and fallen LME exchange aluminum prices.
POWER/ELECTRIC: In 2009, Ormet drew up a Power agreement with American Electric Power. The power agreement was intended to help subsidize the rate at which the Company was paying per Megawatt. At the time of this agreement, the Company was paying less that $40/mwh. Before curtailment of the plant, that rate had risen to over $60 repsenting a full 50% increase.
LME ALUMINUM PRICES: Compounding these tough deficit situation, the LME prices on aluminum had fallen below the $2000/per tonne to as low as the $1600 range. That figure represented a significant decrease from the pre-Recession mark of $3200/tonnne and the most recent high of $2700 in 2011. As of this summary (3/21/2014), the current level has flucauated from $1600-1700.
STALKING HORSE PURCHASER with active offer as of 3/21/2014
ORMTQ Detailed Quote
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My Stocks (7)
Q might drop any day
04/22/16 11:50:01 AM
Any updates? could ORMTQ get delisted soon?
01/21/16 03:15:18 PM
$ORMTQ ~ Ormet Corp. due diligence report
01/06/16 06:10:09 PM
ORMTQ 50 millions as 18 millions os
12/31/15 02:07:52 PM
ORMTQ where do you see 69 mill os
12/28/15 02:20:09 PM
I'm showing 69m o/s. It was 18. One
12/15/15 10:31:26 AM
ORMTQ agreed this can be locked with very
12/14/15 11:12:33 AM
ORMTQ, $0.0012, O/S: 18 m (Tiny). BK at $1.23.
12/14/15 10:58:57 AM
Damn......that's some cold shit.....lol.....Wonder if they're gonna terminate
12/06/15 12:55:05 PM
Just 1 MIL
12/05/15 10:58:19 AM
Yeah.......Plus Al is down a lot also........ Solar
12/04/15 11:35:19 AM
It was energy costs that led to the
12/04/15 10:17:01 AM
Btw....you know how to store energy from Solar.
12/04/15 10:13:00 AM
Too bad.....well, Aluminum is in the toilet.... I
12/04/15 10:11:31 AM
Everything is gone. The property is owned by
12/04/15 09:30:53 AM
good merger candidate almost a million shorted yesterday
12/04/15 09:30:11 AM
shell buyout only 32 thousand dollars market cap,
12/04/15 09:27:06 AM
What's happening with the BK? Are Commons gonna
12/03/15 10:30:12 PM
There's nothing to merge here. I'm not sure
12/03/15 08:09:44 PM
ORMTQ it will be interesting for the sec
12/03/15 04:00:52 PM
market cap 32.000 today that alone make it
12/03/15 03:46:39 PM
32.400 market cap as of today, is a
12/03/15 03:08:04 PM
Any new development"s with ORMTQ? The ask is
11/23/15 02:43:42 PM
It doesn't exist. It's a shell with nothing
08/04/15 07:52:50 PM
Could ORMTQ PPS reaches $1+ in near future?
08/04/15 06:52:51 PM
Keeping up on the old Ormet Aluminum Plant
08/03/15 10:01:24 PM
Not sure.. Magnum Hunter has several gas wells
05/20/15 09:28:22 AM
What is the future for ORMTQ stock?
05/19/15 09:34:58 AM
Not sure if this has moved forward. Possible
04/26/15 02:52:23 PM
04/15/15 08:18:44 PM
It's going nowhere unless someone buys the shell
01/05/15 10:41:08 AM
Bankruptcy Cases Dismissed on Dec 18 2014, Is
01/05/15 10:05:12 AM
It has no assets or business so it
12/21/14 08:42:18 PM
Any news, is ORMTQ will delisted? Any thought's?
12/02/14 11:15:50 AM
as far as we know the news says
10/28/14 10:22:19 AM
Are they going to drop the Q?
10/26/14 11:47:27 AM
Fundraise a dinner party, million dollars a plate
09/26/14 08:13:42 AM
Wow!! Aluminium prices have been on a steady
09/26/14 07:50:29 AM
There was an article in American Metal Market
09/25/14 08:25:14 PM
No one really knows thats on this board.
09/25/14 01:17:36 AM
Is ORMTQ finsh for good? Is
09/22/14 10:01:59 PM
Any thought's on ORMTQ?
07/29/14 05:50:59 PM
Sounded like some hope of reopening. If
07/25/14 04:05:52 PM
Is ORMTQ going to be delisted? Or there
07/24/14 05:58:28 PM
Read the article about the sale and it
07/08/14 02:40:37 PM
Any news from ORMTQ?
07/08/14 12:17:52 PM
Ormet is sold to Niagara Worldwide for over
06/28/14 09:06:22 PM
ORMET will be auctioned JUN 26, any thoughts?
06/22/14 04:10:32 PM
Unknown at this time
06/11/14 09:50:50 PM
Is CCP going to reopen Ormet after the
06/11/14 07:41:15 PM
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