We have now gone from the 'Company that dilutes' to the 'company that dilutes and invests in companies that dilute'. It's a new Kafka-esque meta-economic model!
Alexcooper, I agree with Spoonhead on this. OTC is a serious punt. We have resources that have been in limbo for at least 8 years. and multiple other investments that are behind or about which we hear nothing.
Others here such as Futures74 seem more optimistic. They are right in that if all the investments across Africa and Eastern Europe come good with will be a multibagger. The risk is the company has an absence of any track record of bringing its own resources to fruition or successful investment in other resources. So it is a very big 'if'.
If you have a few hundred pounds burning a hole in your pocket have a punt. Just don't count on getting it back anytime soon; or even at all.
Alexcooper .your answer is quite clear ,don't bother investing here,you will wait an eternity to get a return .could not believe what I read today. All this company does is dilute ,dilute and dilute. OTC is a joke of a company .poorest performing company .still no sign of anything of substance,no news of any progress .slovakia forget it.and now with another big mouth to feed (nick Von shirnding)where's the money going to come from to feed him,oh yes I know more dilution.todays trading was farcical but typical.
I've got 55 million Ortac share that might as well be used for wiping something.needs a total miracle.
So the BOD are playing down the fact that OTC's holdings in Andiamo have just been dilutted by around 8.5%. This was always destined to happen and for sure, OTC will not have the funds currently to maintain their holdings in Andiamo. A better deal would have been to enter into a JV with Andiamo on one of its prospective areas and gain an interest that way. In that way, the investment may have been more likely to add value. Now all we see is the >US$1.5 million spent on Andiamo being diluted with relatively little to show for it AND, other parties getting in on the act!
This is my take on it, based on info from RNSs and VC's presentation on 3rd November:
Slovakia: News about the mining permit - details about this in the RNSs. This could come out tomorrow, or could drag on for ages.
Casa - Akyanga: per VC presentation 3rd November: Complete scoping study over 5,000 meters by mid 2017 (phase 1).
Andiamo, Eritrea: per RNS Interim Results 16 December: Expect an update on their plans for "an active 2017 exploration season".
Zamsort: Still waiting for confirmation that Ortac have received the share certificates for conversion of the loan. Seems to have been dragging on for a long time now.
Also confirmation that construction of the plant at Kalaba has been completed. This has been held up during the rainy season which finishes in March, so probably no news on this until April at the earliest, probably May.
I'm standing at a loss at the moment, but I believe that this company has potential if things get moving. It seems there are several log-jams at the moment (i.e. Slovakia & Zamsort) but hopefully these will be cleared throughout 2017.
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