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http://www.proactiveinvestors.co.uk/companies/news/189339/ortac-resources-focused-on-gold-potential-in-drc-189339.html Also an oldie but a goodie https://www.youtube.com/watch?time_continue=11&v=qv5K7ebSPPY
personally i think the new BOD's are focused on bigger prizes, hence the RNS wording. They were pretty quick to go ahead with the 100% owning of CASA which they see as providing bigger rewards.
for fact, Sturec mine is the property of ortac, till they decide to stop the small scale mining operation. The local authorities at the end of three years licence period could change their mind about how to describe mining. Now the ball is in the local authorities camp, since ortac could go for ever with the small scale mining, it is self financed. it is just a technical solution to the NGOs interference. Now ortac spent £13 m on sturec. and it is not going to move away form its property unless some one is willing to pay or relinquish the support for those NGOs and allow every one to benefit.
Poorman - the comment certainly gave me the impression they have no interest in Sturec and have no interest in progressing it.
Interesting view ARahim, I just saw it as dead in the water for whatever reason as far as OTC are concerned, so they are trying to find someone that is prepared to take a gamble on the cheap if poss.
Merry Christmas and happy new year for all. There are two sides fighting to get the mine rewards. 1) locals, using NGOs under the cover of protecting nature to prohibit large scale exploitation, hence pushing ortac to loose its rights, may be after that, the locals will claim it for themselves. 2) ortac started small scale mining project to meet the requirement of local authorities, hence limit the hope, the locals may have to get sturec back for free in the near future. Now the straggle is between those who are going to benefit from large scale exploitation; local work force and supply companies who may get contracts from the mine; these are the forces of the future, the others are local business men who may benefit from ousting ortac from this area. this is the perspective in the short term. In the longer term forces may change hence the need for long term holder to work through these two sides or develop economic ways to mine without using arsenic.
I think I could be missing something, but what is puzzling about the "an owner with a longer timeframe" comment ?
To my knowledge there are no serious commercial operators looking at sturec. It would only suit a company operating a tourist panning business. LOL.
Westie are you serious? Brokera are there to talk up a stock. Fair and balanced broker estimates rarely happen. They are invariably over optimistic
I couldn't get past the first sentence of OTC's new Chairman's statement without wondering if the BOD had been "refreshed" by illiterates. Even if that is the case, don't the highly paid corporate brokers and PR people read these things before they are released? Let's hope the Chairman's business skills are significantly stronger than his grasp of the English language.
Shareinvestment - Yes totally agree with your post. OTC is a different company now. Some appear to not realise that. Remember the broker comment from a couple of months ago when he said the sp should be multiples of its current value. They don't make off the cuff remarks like that for no reason as they have a reputation to keep. The ones who I have on filter will probably disagree though!
DShox - yes i think your comment "very matter of fact re Sturec" is spot on. I have to admit I was puzzled by the "an owner with a longer timeframe" comment with regard to OTC?
We all have our views, but I remain of the idea that the new board has completely changed OTC with a clear strategy already started with the ongoing CASA transaction which will be concluded early next year followed no doubt by other key news during a very exciting 2018.
You guys don't believe this nonsense your posting, any guesses when the next fund raising will be ?
Ok F79 thanks for the reply. It was the following paragraph which caught my eye: "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" So yes i agree we will want to retain a percentage of the future value of Sturec. Eyeguy - I'm with you in that 2018 should be transformational for us.
Westie to my knowledge yes. I get the view that they are not necessarily looking at a sale only as they say they are looking at various options, and also they see the potential value. I suspect they will want to retain some return when/if it becomes profitable but I expect news on this front and final full acquisition of Casa over the next month or so. Imo.
Happy with that. Corporate costs are low. Progression and 2018 will be the year Gla
Happy with what has been said today. Would someone with more knowledge like to comment re Sturec and the fact it's quoted the Company is looking for someone with a longer timeframe. Is this asset on the market for sale/taking a stake?
Net assets 17 million. Mcap about 5.5million.
From an earlier news about Slovakian project: Ortac Resources Ltd told investors it has restarted mining activities in Slovakia after a small-scale underground mining permit was re-issued last month. Now that mining is underway, the company said it has fulfilled the conditions required by the authorities in order for it to preserve the company’s right to exploit the Šturec ore deposit located in the Kremnica Mining License Area for a minimum period of three years. It means Ortac can continue its efforts towards establishing a commercial scale mine on the licence, the company added. Ortac, meanwhile, remains in active talks with a potential local partner for the development of Šturec. The mine could potentially produce some 873,000 oz of gold equivalent from the current mineral resource, at a low (life of mine) cash cost of around US$555 per ounce according to a 2013 prefeasibility study. “The development of a commercial project has the potential to create hundreds of jobs in the area and boost the local economy. “We can now focus on concluding agreements with our potential JV partner and executing a strategy that will ultimately generate long term value for all stakeholders." -------------------------- Slovakia holds game changing surprise for OTC. Any potential royalty/joint venture/local government deal can become the potential trigger point for 50+m market cap of OTC. (850+ au oz project is a $1billion+ life of mine revenue asset)
Not long before the explosive bull market starts for gold miners. Casa director (Michael Foster) sold his last DRC project at $100+ million dollars, and this project at Akangya is on the verge of being truly monster asset of 5m-10m au oz so the valuation would also be 3x-5x of the last flip. Close to $30-35 million spent on DRC, and $10-15m spent on Slovakia. Combined cumulative PFS for both project is upwards of $250m+. Slovakia and DRC are immediate force multiplier.... Epicly undervalued....
Mine just did...
Will be the year in which Casa will translate into driving the share price to 10p+ as it is pretty clear that this asset is key in 2018 as person new clear board strategy. Accumulate and wait patiently is my view.
Keep dreaming....lol