Anybody tracks this company - The Orissa Minerals Development Company?

It's mainly into iron ore mining, but also has some manganese ore mines.

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The company was being touted as the next NMDC, however none of its mines (total of 6) are currently operational as the mining licenses got lapsed.

The company is trying to get back on its feet again but there is delay in mining lease renewal and environmental clearances,with the current Govt. in a state of limbo it is very difficult to ascertain when things will move.

The estimated reserves are 206 MT of Iron Ore & 44 MT of Manganese Ore, I have no idea on the quality of the ore, no idea on the capex outlays either since that would also depend on their production targets.

The company has also deferred its board meeting twice for sub-division of face value of shares in the past one month.

Stock split looming, OMDC eyes Thakurani mine nod - Money - DNA.

I cant understand why they are delaying bonus and split issues.

There is only 2 lakh shares out in open market out of that more than a lakh is with FII and MF and hardly 50000 with public.

With the price of the share and news coming out the share makes good jump.

But of late all split and bonus shares later trade on heavy discount rather than again going high like TITAN, ONGC, BHEL.