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."

Jamie_55a91591db06b.jpg
Why Invest In Ortac Resources Ltd? Read More Here

Register here to be notified of future OTC Company articles
View full OTC profile

Ortac Resources Ltd Timeline

Big Picture
October 29 2015

Related Articles

Loharano_5652c6a17bef4.jpg
November 23 2015
"Subject to follow up testing confirming mineralisation we hope to have sufficient graphitic ore in the existing operational area to support a significant expansion programme," the CEO said.
shutterstock_249210421-(1).jpg
February 15 2016
Exploration upside will be supported by cashflow in future says chairman
Rolled-copper.jpg
May 31 2016
Galileo Resources has a sizeable footprint on a copper-rich region of South Africa, and is now pressing ahead towards a resource

© Proactive Investors 2016

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.