Interim Results - 6 Months to 31 December 1999

Ormonde Mining PLC
1 March 2000


INTERIM REPORT FOR ORMONDE MINING PLC FOR 
THE SIX MONTHS ENDED 31 DECEMBER 1999


During the six month period covered by this report Ormonde continued to
experience difficulties in equity raising and keeping exploration in Tanzania
at a satisfactory level.  The Company has dropped its option to earn a 50%
interest in the Mgusu property in the Geita region of the Lake Victoria
Goldfield.  Almost all targets in the area had been tested without success. 

The company has joint ventured out its Siga Hills, Karumwa and Magamba
licences to Axmin Ltd.  The Company is actively seeking partners to progress
exploration on its other licences in the Lake Victoria Goldfield.  The
objective is to reduce the expenditure by the Company on its licences in
Tanzania, while retaining a significant interest in the licences. 

Over the next quarter it is expected that there will be results from the joint
venture with Mincorp NL of Australia on the Mrangi property as well as results
from the Axmin joint ventures.

The company continues to seek financing and is also seeking new opportunities
to progress the assets of the Company.




CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE 6 MONTHS ENDED 31 DECEMBER 1999


                               6 Mths Ended     Year Ended     6 Mths Ended
                                31 Dec 1999   30 June 1999      31 Dec 1998
                                        IR£            IR£              IR£
                                  Unaudited        Audited        Unaudited

Administrative expenses                  -        (27,036)               -
                                 ------------------------------------------

Write-down of exploration costs          -        (26,477)               -
                                 ------------------------------------------

OPERATING LOSS                           -        (53,513)               -

Other income                             -          2,410            2,155
                                 ------------------------------------------

(LOSS)/GAIN ON ORDINARY ACTIVITIES 
  BEFORE TAXATION                        -        (51,103)           2,155

Taxation                                 -              -                -
                                 ------------------------------------------

(LOSS)/GAIN ON ORDINARY ACTIVITIES 
  AFTER TAXATION                         -        (51,103)           2,155
                                 ------------------------------------------

Profit & loss account brought 
  forward - (deficit)           (4,574,420)    (4,523,317)      (4,523,317) 
                                 ------------------------------------------

Profit & loss account carried 
  forward - (deficit)           (4,574,420)    (4,574,420)      (4,521,162) 
                                 ------------------------------------------

(Loss)/Gain per share                    -       (0.0013p)          0.006p


The Group has no recognised gains or losses other than those reflected in the
profit and loss account above.






CONSOLIDATED BALANCE SHEET
AS AT 31 December 1999


                               6 Mths Ended     Year Ended     6 Mths Ended
                                31 Dec 1999   30 June 1999      31 Dec 1998
                                        IR£            IR£              IR£
                                  Unaudited        Audited        Unaudited


FIXED ASSETS
Tangible assets                     20,458         20,458           26,966
Intangible assets                2,204,325      2,038,596        1,682,416
                                 ------------------------------------------
                                 2,224,783      2,059,054        1,709,382
                                 ------------------------------------------

CURRENT  ASSETS
Debtors                              5,286         10,804           45,749
Cash at bank and in hand                 -         69,385          107,241
                                 ------------------------------------------
                                     5,286         80,189          152,990
                                 ------------------------------------------

CREDITORS : (Amounts falling due
  within one year)                (175,054)      (113,393)         (76,120)
Bank overdraft                     (29,165)             -                -
                                 ------------------------------------------

NET CURRENT ASSETS/LIABILITIES    (198,933)       (33,204)          76,870
                                 ------------------------------------------

NET ASSETS                       2,025,850      2,025,850        1,786,252
                                 ------------------------------------------

CAPITAL AND RESERVES
Called-up share capital          2,195,890      2,195,890        1,996,390
Share premium account            4,398,673      4,398,673        4,305,317
Capital reserve                      5,707          5,707            5,707
Profit and loss account         (4,574,420)    (4,574,420)      (4,521,162) 
                                 ------------------------------------------
                                 2,025,850      2,025,850        1,786,252
                                 ------------------------------------------




SUPPLEMENTARY INFORMATION



(1) Break down of expenditures for the 6 months to 31 December 1999

                                             6 months ended      Year ended
                                                31 Dec 1999    30 June 1999
                                                        IR£             IR£
                                                  Unaudited         Audited

DESCRIPTION
Field Exploration                                   52,010         345,562
Field Supplies                                           0          50,491
Field Geology                                          325          28,297
Option and Government Fees                          39,981         144,444
Travel and Accommodation                             5,879          34,744
Legal Fees                                          (3,200)         16,015
Telephone, fax and postage                           3,321          16,601
General                                             67,413          76,877
                                                 --------------------------
                                                   165,729         713,061
                                                 ==========================
Directors' fees and other emoluments                41,250          77,235

There were no other payments made to parties not at arm's length from the
issuer


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

    (b) No additional shares issued.


(3)  (a) Authorised share capital:    100,000,000 ordinary 5p shares
        Issued share capital:         43,917,841 ordinary 5p shares 
                                                 are on issue

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

    (c) Total number of shares in escrow:  8,435,691

    (d) Directors:       Desmond J Burke
                         Michael J Donoghue
                         Hugh W Mc Cormack
                         David O'Beirne