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Ormet Corp. (ORMTQ)

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Last Post: 6/26/2017 7:50:19 PM - Followers: 13 - Board type: Free - Posts Today: 0

The Ormet Corporation 
(UPDATED: 3/21/2014)

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
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#955   Who's Shell is it now? Keystoner 06/26/17 07:50:19 PM
#954   That would be nice. My shares would mug2011 11/06/16 08:25:43 PM
#953   Could ORMTQ bounces back to $2.00+ PPS soon? pinetreez 11/06/16 07:55:24 PM
#952   Wanted to bring this Press Release back around Keystoner 11/06/16 02:54:11 PM
#951   Equitrans, L.P. v. 0.05 Acres of Land, More Keystoner 11/06/16 02:50:57 PM
#950   Here's another from www.theintelligencer.net. Keystoner 11/06/16 02:46:30 PM
#949   Where is this article from can't find on esi23 11/06/16 02:34:21 PM
#948   November 4, 2016 Keystoner 11/06/16 01:31:27 PM
#947   pinetreez 11/06/16 12:32:01 PM
#946   nice action DJPennyTrader 11/04/16 02:59:37 PM
#945   Q might drop any day etcetera 04/22/16 11:50:01 AM
#944   Any updates? could ORMTQ get delisted soon? californiasun123 01/21/16 03:15:18 PM
#943   $ORMTQ ~ Ormet Corp. due diligence report $Pistol Pete$ 01/06/16 06:10:09 PM
#942   ORMTQ 50 millions as 18 millions os sultan77 12/31/15 02:07:52 PM
#941   ORMTQ where do you see 69 mill os sultan77 12/28/15 02:20:09 PM
#940   I'm showing 69m o/s. It was 18. One Muk 12/15/15 10:31:26 AM
#939   ORMTQ agreed this can be locked with very sultan77 12/14/15 11:12:33 AM
#938   ORMTQ, $0.0012, O/S: 18 m (Tiny). BK at $1.23. hondaboost 12/14/15 10:58:57 AM
#937   Damn......that's some cold shit.....lol.....Wonder if they're gonna terminate Zardiw 12/06/15 12:55:05 PM
#936   Date: 11/23/2015 Just 1 MIL 12/05/15 10:58:19 AM
#935   Yeah.......Plus Al is down a lot also........ Solar Zardiw 12/04/15 11:35:19 AM
#934   It was energy costs that led to the Muk 12/04/15 10:17:01 AM
#933   Btw....you know how to store energy from Solar. Zardiw 12/04/15 10:13:00 AM
#932   Too bad.....well, Aluminum is in the toilet.... I Zardiw 12/04/15 10:11:31 AM
#931   Everything is gone. The property is owned by Muk 12/04/15 09:30:53 AM
#930   good merger candidate almost a million shorted yesterday sultan77 12/04/15 09:30:11 AM
#929   shell buyout only 32 thousand dollars market cap, sultan77 12/04/15 09:27:06 AM
#928   What's happening with the BK? Are Commons gonna Zardiw 12/03/15 10:30:12 PM
#927   There's nothing to merge here. I'm not sure Muk 12/03/15 08:09:44 PM
#926   ORMTQ it will be interesting for the sec sultan77 12/03/15 04:00:52 PM
#925   market cap 32.000 today that alone make it sultan77 12/03/15 03:46:39 PM
#924   32.400 market cap as of today, is a sultan77 12/03/15 03:08:04 PM
#923   Any new development"s with ORMTQ? The ask is shawnb 11/23/15 02:43:42 PM
#922   It doesn't exist. It's a shell with nothing Muk 08/04/15 07:52:50 PM
#921   Could ORMTQ PPS reaches $1+ in near future? sun123 08/04/15 06:52:51 PM
#920   Keeping up on the old Ormet Aluminum Plant greg13 08/03/15 10:01:24 PM
#919   Not sure.. Magnum Hunter has several gas wells greg13 05/20/15 09:28:22 AM
#918   What is the future for ORMTQ stock? blue234 05/19/15 09:34:58 AM
#917   Not sure if this has moved forward. Possible greg13 04/26/15 02:52:23 PM
#916   http://niagaraworldwide.com/niagaraworldwide/external/WebImages/File/Development greg13 04/15/15 08:18:44 PM
#915   It's going nowhere unless someone buys the shell ErnieBilco 01/05/15 10:41:08 AM
#914   Bankruptcy Cases Dismissed on Dec 18 2014, Is 12345a 01/05/15 10:05:12 AM
#913   It has no assets or business so it ErnieBilco 12/21/14 08:42:18 PM
#912   Any news, is ORMTQ will delisted? Any thought's? 12345a 12/02/14 11:15:50 AM
#911   as far as we know the news says greg13 10/28/14 10:22:19 AM
#910   Are they going to drop the Q? 12345a 10/26/14 11:47:27 AM
#909   Fundraise a dinner party, million dollars a plate greg13 09/26/14 08:13:42 AM
#908   Wow!! Aluminium prices have been on a steady greg13 09/26/14 07:50:29 AM
#907   There was an article in American Metal Market Big Mike27 09/25/14 08:25:14 PM
#906   No one really knows thats on this board. pjfrn 09/25/14 01:17:36 AM
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