Interim Results

Ormonde Mining PLC
19 April 2001


ORMONDE MINING PLC ('Ormonde')

UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER, 2001
CHAIRMAN'S STATEMENT


During the six month period covered by this report, the Board of Ormonde
focused its efforts on fulfilling the objective of raising funds to provide
working capital for the Company and preliminary financing in respect of the
longer term objective of identifying a suitable resource project. This
followed the implementation of the previously announced strategy of reducing
the Company's exploration interests to core holdings and identification of
joint-venture partners to finance ongoing exploration expenditure.

Of the remaining interests of the Company, exploration on the Siga Hills
Project was advanced by Axmin Limited while the Marangi P.L. has now reverted
to Ormonde following the dissolution of the joint venture arrangement with
Mincor Resources N.L.. No exploration expenditure was incurred by Ormonde in
respect of either of these interests over the period.

An initial fundraising attempt, preliminary details in relation to which were
announced in September, 2000, was unsuccessful and in December, 2000 the Board
was required to request that the Irish Stock Exchange suspend the dealing
facility in the shares of the Company pending clarification of the working
capital position of the Company. The underwritten placing and open offer also
announced today represents the culmination of renewed fundraising efforts and
will facilitate the readmission of shares in Ormonde to dealing on the ESM,
while also addressing the working capital position of the Company and
providing funds for the examination of potential investment opportunities and
performance of due diligence thereon.
 
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE 6 MONTHS ENDED 31 DECEMBER 2000

                           6 months ended     Year ended     6 months ended
                        31 December, 2000  30 June, 2000  31 December, 1999
                                      IR£            IR£                IR£
                                Unaudited        Audited          Unaudited

Administrative expenses           (2,992)       (18,335)                 -
Write-down of exploration costs        -     (1,484,854)                 -
                              ---------------------------------------------
OPERATING LOSS                    (2,992)     (1,503,189)                 -
Other income                       2,000              -                  -
                              ---------------------------------------------
LOSS ON ORDINARY ACTIVITIES 
BEFORE TAXATION                     (992)    (1,503,189)                 -
Taxation                               -              -                  -
                              ---------------------------------------------
LOSS ON ORDINARY ACTIVITIES 
AFTER TAXATION                      (992)    (1,503,189)                 -
Profit and loss account 
brought forward - (deficit)   (6,077,609)    (4,574,420)        (4,574,420) 
                              ---------------------------------------------
Profit and loss account 
carried forward - (deficit)   (6,078,601)    (6,077,609)        (4,574,420) 
                              =============================================
Loss per share                (IR£0.0001)    (IR£0.0342)                 -
                              =============================================

The group has no recognised gains or losses other than those reflected in the
profit and loss accounts above.
 
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2000


                           6 months ended     Year ended     6 months ended
                        31 December, 2000  30 June, 2000  31 December, 1999
                                      IR£            IR£                IR£
                                Unaudited        Audited          Unaudited


FIXED ASSETS
Tangible assets                    7,952         11,379             20,458
Intangible assets                789,430        781,842          2,204,325
                              ---------------------------------------------
                                 797,382        793,221           2,224,783
                              ---------------------------------------------

CURRENT ASSETS
Debtors                            7,311          7,487              5,286
                              ---------------------------------------------
                                   7,311          7,487              5,286

CREDITORS : (Amounts falling due
within one year)                (283,024)      (278,047)          (175,054)
Bank overdraft                         -              -            (29,165) 
                              ---------------------------------------------
NET CURRENT (LIABILITIES)/
ASSETS                          (275,713)      (270,560)          (198,933) 
                              ---------------------------------------------
NET ASSETS                       521,669        522,661          2,025,850
                              =============================================


CAPITAL AND RESERVES

Called-up share capital        2,195,890      2,195,890          2,195,890
Share premium account          4,398,673      4,398,673          4,398,673
Capital reserve                    5,707          5,707              5,707
Profit and loss account 
- (deficit)                   (6,078,601)    (6,077,609)        (4,574,420) 
                              ---------------------------------------------
EQUITY SHAREHOLDERS' FUNDS       521,669        522,661          2,025,850
                              =============================================


 
SUPPLEMENTARY INFORMATION

(1)  In the six months to 31 December, 2000 no exploration expenditures were
incurred by Ormonde and no Directors' fees or other emoluments were incurred
or paid.

There were no payments made to parties not at arms length from the issuer.

(2)  (a)  No options have been granted in the period under review.

     (b)  No additional shares have been issued in the period under review.

(3)  (a)  Authorised share capital:    100,000,000 Ordinary IR5p Shares
          Issued share capital:         43,917,841 Ordinary IR5p Shares

     (b)  No options, warrants or convertible securities are outstanding.

     (c)   Directors:  Michael J. Donoghue
                       Hugh W. McCormack
                       David O'Beirne


For further information please contact:

Michael Donoghue             00-353-56-28351
Chairman, Ormonde Mining plc