Last checked at 12 Mar 2012 07:00
Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration
12 March 2012
Ortac Resources Ltd ('Ortac' or 'the Company')
Holdings in Company
Ortac Resources Ltd the AIM listed exploration and development company focussed on precious metal projects in Europe, received notification on 8 March 2012 that following an acquisition of ordinary shares in the Company on 7 March 2012, Henderson Global Investors is now interested in 245,841,095 shares, representing 10.61% of the issued share capital and voting rights of the Company.
Ortac CEO Vassilios Carellas said, "We are delighted that Henderson Global Investors, our major institutional shareholder, has increased its holding from 4.5% to 10.61% indicating its confidence in our company as we continue to build value across our portfolio of precious metals assets in Slovakia. 2012 is set to be an exciting time for Ortac, having already had the highly positive results from the Scoping Study on our Šturec gold-silver deposit in Slovakia we are now progressing the project towards the Bankable Feasibility stage."
**ENDS**
Notes: Ortac Resources Limited is an AIM listed exploration and development company focussed on natural resource projects in Europe. Its primary focus is on precious metals exploration and development within the Carpatho-Balkan Metallogenic Belt, primarily the Central Slovakian Volcanic Field.
The Company has a current JORC compliant resource of 1.1Moz of gold equivalent from its Šturec Project in Slovakia, and a scoping study on the project was completed in January 2012. The Company's objective is to complete a bankable feasibility study (BFS) and environmental and social impact assessment (ESIA) of the project, with a view to bringing the Šturec Project into production for the benefit of all stakeholders.
The Company's strategy is to utilise its highly experienced board and management team and its solid foothold in Central Europe to consolidate additional natural resource development opportunities to build shareholder value.
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