Last checked at 20 Dec 2013 07:00
20 December 2013
Ortac Resources Limited ('Ortac' or 'the Company')
Approval of Preliminary Environmental Report ('PER')
Ortac Resources Ltd, the AIM listed exploration and development company focussed on natural resource based projects, is pleased to announce the approval of a Preliminary Environmental Report in support of its proposed application for trial underground mining at the Šturec deposit near Kremnica- the application was submitted to the Slovak Regional Environmental Office in Banská Štiavnica, as per the announcement made on 21 October 2013.
This approval clears the way for the Slovak District Mining Bureau to review the company's application to mine 1,000 tonnes per year of high-grade gold and silver ores from the existing underground development.
As part of its commitment to adhere to the fullest and most transparent dialogue with stakeholders, Ortac is now fully engaged with the Mining Bureau and other relevant authorities, as well as the wider public in respect of both its surface and its underground applications.
Based upon experience elsewhere, the Directors believe that opposition to the approval process may arise as a result of the above mentioned decision. This is a strategy commonly deployed by non-governmental organisations and other groups with the intention of forcing more transparent and hence more sustainable decisions.
Ortac Resources CEO Vassilios Carellas said, "Ortac is pleased at the progress made with this application and welcomes actions that might lead to greater transparency and clarification of issues in public. Moreover, Ortac will do everything it can to ensure that the discussions and the findings arising from such actions are made freely available".
For further information please visit www.ortacresources.com or contact:
Vassilios Carellas Ortac Resources Ltd Tel: +44 (0) 20 7389 9050
Charles Wood Ortac Resources Ltd Tel: +44 (0) 20 7389 9050
Stewart Dickson Cantor Fitzgerald Europe Tel: +44 (0) 20 7894 7000
Catherine Leftley Cantor Fitzgerald Europe Tel: +44 (0) 20 7894 7000
Jeremy Stephenson Cantor Fitzgerald Europe Tel: +44 (0) 20 7894 7000
Caspar Shand-Kydd RFC Ambrian Limited Tel: +44 (0) 20 3440 6800
Jen Boorer RFC Ambrian Limited Tel: +44 (0) 20 3440 6800