Proactive Investors - Run By Investors For Investors

Ortac Resources focused on gold potential in DRC

Subsidiary Casa is exploring the Akyanga gold project in the Democratic Republic of the Congo
picture of mine hats
Akyanga is in the Democratic Republic of Congo

Mining junior Ortac Resources Ltd (LON:OTC) expects to take 100% control of Casa Mining within a matter of weeks.

Already more than 87% owned by Ortac, Casa is exploring the Akyanga gold project in the Democratic Republic of Congo and recently announced it wants to expand the project to incorporate structures that run parallel to the prospect.

READ: Ortac Resources says Casa to start new phase of work at Akyanga gold project

Last month, Ortac raised US$2.2m to fund an ongoing 5,000m drill programme. 

Elsewhere, talks are ongoing with partners about further exploration at Zamsort, a copper/cobalt property in Zambia. 

Ortac is also in talks over the future of the Slovakian exploration property, Sturec. 

READ: Ortac moving closer to full ownership of Casa Mining

“We believe that while the future potential of the asset is significant, it requires an owner with a longer timeframe to work through the various issues in respect of developing Sturec,” the group said. 

Losses for the six months ended September 30 were (£304,000) (2016: £253 000).   

View full OTC profile View Profile

Arc Minerals Limited Timeline

Related Articles

Robert Thomson, managing director, Stonewall Resources
May 19 2017
Robert Thomson talked pathway to gold production with investors.
Picture of high-grade manganese sample
April 12 2018
Mineral Resources' proposed takeover of Atlas Iron indicates that the market for manganese assets is on the rise.
February 06 2018
Coro Mining is on the move in Chile, with feasibility work nearing completion and new ground to work on

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 2018

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