Excellent prospect under the management of Andiamo. Very tightly run private outfit that struggled for funding during the mining rout. Great to see its back up and running - even better to see OTC has a solid equity share!
Pablo, Ortac Resources will definetly be going to an EPIC run! A confirmed joint venture in Slovakia is all it will take to set the motion to unlock all the assets starting from Slovakia to the other three mining assets in Congo, Zambia & Eriteria. Reaching 30m cap is a achievable goalpost once the Slovakian mining commences.
They have accumulated gold mining assets with a combined revenue potential of +4.0 billion. (Excluding Zambia & Eriteria)
(Slovakia : 100% of 900000 gold ounce, DRC : 23 % of a 1.3 million gold ounce to be soon upgraded to 3 million ounce by last quarter of next financial year.)
Great work and love that article on cyanide free extraction. With the ban in Slovakia so we have to go for something like demonstrated by Sir Fraser Stoddart.
To me Ortac was always going to sink or swim by Sturec and everything else was a sideshow. Perhaps those sideshows could make us something and they've certainly kept interest up while the blockades have stayed erected at Kremnica.
This local JV is surely a big part in unlocking the door - if that goes, we will be in !
Ortac Resources Ltd, the AIM listed mineral exploration company operating in Europe and Africa today announces that Andiamo Exploration Limited ('Andiamo'), a company in which Ortac holds an 18.48% equity interest, is about to commence a reverse circulation ("RC") drill program at its wholly owned Haykota Exploration License Area in Eritrea.
Vassilios Carellas, Ortac's CEO, commented: "We are very pleased that Andiamo has secured the funds to re-commence drilling these highly prospective targets in their Haykota license area and we look forward to reporting further progress in due course."
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