Ortac Resources Ltd (LON:OTC) has increased its holding in DRC–focused gold explorer Casa Mining to 21.7% through a private placement.

Vassilios Carellas, Ortac’s chief executive, said: "The recently announced placing covers CASA's short term working capital requirements and will enable it to complete an updated resource statement at its Akyanga project." 

CASA owns 71.25% of the Misisi gold project in South Kivu, eastern DRC, approximately 350km south of Bukavu and 180km north of Kalemie and that includes the Akyanga deposit along with the Lubitchako, Tulongwe, Kilombwe and Mutshobwe targets.

Ortac acquired 69,444 shares at US$0.72 per share.