Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Ortac Resources Ltd raises £350,000 with share placing

"It is pleasing to note the continued confidence in our projects,” said chief executive Vassilios Carellas.
Ortac Resources Ltd raises £350,000 with share placing
The new shares are priced at 0.025p each.

Ortac Resources Ltd (LON:OTC) has raised £350,000 through the issue of new shares in a placing.

The new shares, 1.4bn have been issue, are priced at 0.025p each.

Cash raised in the placing will be used for working capital purposes and to support the group’s expanding portfolio of mineral projects, Ortac said.

It comes as Ortac has moved into Africa, via its joint venture with Zamsort in Zambia and other newly added interests.

Directors including chief executive Vassilios Carellas participated in the placing, taking a total of 200mln new shares.

"It is pleasing to note the continued confidence in our projects, which stands alongside the demonstration of the directors our own commitment to the company,” Carellas said in a statement.

“Shareholders will be pleased to hear that Zamsort continues to move forward towards production and I shall be following up our investment in Casa Mining with a site visit over the next couple of weeks and look forward to reporting more news on my return."

View full OTC profile View Profile

Ortac Resources Ltd Timeline

Newswire
November 06 2017

Related Articles

1510602466_uranium.jpg
November 13 2017
The group would clearly like to see higher uranium prices, but does have other revenue generating streams
Lithium_381225958.jpg
January 27 2017
Rainmaker Resources may have been conspicuous by its absence from news feeds for a few months and its shares may be towards the bottom of its historical range, but investments are made of far more than that
Uranium
May 15 2017
Kazakhstan's decision to curtail uranium output by 10% from its mines gave a shot in the arm to the sector

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use