http://www.ortacresources.com/


The Companys strategy is to utilise Ortacs highly experienced board and management team, together with its solid foothold in the Central European region, to consolidate additional exploration and development opportunities in the precious metal sector.
Having already acquired the necessary capital, the Company plans to update the resource, complete a scoping study and preliminary environmental and social impact assessments, and bring into production its initial asset, the Kremnica Gold Project in Slovakia.
The Company has identified several regional consolidation opportunities at various stages of development which are currently being evaluated to significantly increase Ortacs resource inventory and maximise shareholder value. Third party companies with advanced staged projects in the region which can be fast-tracked to achieve near term production are also being actively sought and evaluated.

Must admit my old TMC sp of 1.75p isn't far away so hope they continue.

I don't hold these share's just been asked to start this thread

ask? who

I've noticed over the past few days, you have started plenty of threads

>>>>>>>>>>>>>>>>>>

Another day of moving higher

This one and @UK [ATUK ] are the only two i started for someone else. This one for moneyplus and the other because he didn't know how to paste a chart to the thread.

TST and PAL are my new thread's small amount in TST and half a shed load in PAL

I am not holding.

They have served me well and I think there is more gold in them thar hills

The guys at T1ps are keen on Ortac. At 0.775p in September and again just 3 days ago they think 2.5p is a realistic target. I'm a novice at all this so wont quote figures I dont understand but 'the vibes' seem good and hopefully "there is more gold in them thar hills" !! :)

bought in this morning...bit late to the party but if we get to 2.5p, for starters, I'll be happy !

I'm also in RRR & RGM and have made some good gains on these!

good luck sky.

from otc www company website "estimate before the end of the year in excess of 1 million ounces gold equivalent."

The Company's initial project is the Kremnica Gold Project in Slovakia which has been reported to contain in excess of 1.5 million ounces gold equivalent.

+ the" additional precious metal development opportunities" et al

more kerrrrchinnnnnnggggggg!! imo

Sounds good.... RRR climbing ...rns released

good progress towards 2p+ this morning

The Bees have certainly been busy around this little hive,we may have a small dip with funds being trousered but as I said earlier spring is a fine time for Bees!!

The trousering has began in earnest but I am watching and buying.The next surge will take it through the 2p mark.

buys going through as sells.

Superb.

I'm up 3k today on OTC, have a shed full in my Sipp, I retire when they hit 5p.
up today 10.88% on 'no news' DYOR...

Well, it's now half way to 5p....so it's looking good for you chartish2004! well done and GL.

I'm up 60% from when I went in a few weks ago so very happy with current progress and there's plenty more to come! (imho)

Earlier news on the Daily EXPRESS .........

SMALL COMPANIES ROUNDUP: RARE EARTH MINERALS GETS CHINA BOOST

China said it would cut export quotas on rare earth minerals

Thursday December 30,2010 -- By Daily Express reporter

Precious metals explorer Ortac Resources struck it 0.33p richer at 2.17p in anticipation of a positive resource statement on its Kremnica gold project in Slovakia,

cielo,
thanks for posting the above....this is shaping up nicely!

chartist will be lying on his sun drenched island 2011,as I said there is gold in them thar hills!!

Up she goes again 2.75p now , best for some time if I can say with only 21 M shares traded on 90 minites of trading

Beebusy - Yes things looking very good, up over 33k since OCT, I was sitting on a 10k paper loss for a few weeks, but all looking fine so far.

Just 3 weeks longer at work then I finish. OTC will I hope see me into retierment.

I'm tempted to sell but I'll hang on for 5/6p! me thinks....

Lots of info on http://www.lse.co.uk/SharePrice.asp?SharePrice=otc

Happy Trading.....

funny day yesterday, but off again this morning. At this rate I will be joining chartist!!

from another bb:-
'On 12 Nov 10,Edison issued an Arian Silver update giving silver values of $13.7/oz Measured,$6.16/Oz Indicated, $0.88/Oz Inferred based on a silver price of $27.19/oz.

HOWEVER, the value of silver has now increased to $29.14/Oz, an increase of 7.2%. This gives up to date values of:

Measured....1,780,700..$14.68/Oz...$26,140,676.....16.74m...0.97p/share

Indicated...2,742,100..$6.60/Oz...$18,097,860.....11.59m....0.67p/share

Inferred....880,400....$0.94/Oz...$827,576......529,971...0.03p/share

In other words, OTCs silver "in ground" alone is currently worth 28.86m or 1.67p/share...and we haven't had the upgrade yet!

But it doesn't stop there.

OTCs current "in ground" gold/silver resources are worth 119m (6.84p/share)...but they are based on only 1.2km of their 6.5km strike length at Kreminica. This is hugely important. Assuming they achieve a similar resource to the first 1.2km (and there is no reason why they couldn't)then this could result in a potential 500% increase to the Kremnica resource alone, ie 595m or 34.2p/share.

But it doesn't stop there.

In the Optiva Research Note,dated 05 Jan 11, they gave a 6 month target of 3.45p....but this was based on the CURRENT known resource at Kremnica alone.

This target did NOT include:

1.....The imminent resource upgrade.

2.....The Brazilian iron ore project

3.....The 9 gold exploration licences in eastern Slovakia.

They said that the imminent resource upgrade (expected to be "in excess of 1Moz" in "early January) would "lead to a re-rating".

But it doesn't stop there.

Optiva went on to say:

The Kremnica resource has "a high 80.9% is in the Measured and Indicated categories".

"the current resource statement includes only 1.2km of the known 6.5km strike length"

"Furthermore the management reckon that the exploration licence areas immediately to the south of the Kreminca mining licence area holds potential to host further significant resources."

Thats fantastic news. Not only are OTC expecting further significant resource upgrades from the remaining part of the 6.5km strike length as mentioned in 2 above, but OTC expect "further significant resource upgrades" from south Kremnica !

Zlata Bana, one of their 9 Slovakian exploration licenses "could be quickly converted from a Slovak to JORC code compliant resource of 360,000 to 500,000 ounces of gold equivalent in the Indicated and Inferred categories." It says they think this is "low grade" but advise progressing the project further to learn more about the mineralisation and project area".

"Ortac may look to add new interests in Slovakia and possibly elsewhere in Europe. Potential project additions are likely to made within the Carpatho‐Balkan metallogenic belt, that runs from Slovakia through eastern Euro'

i wouldnt wan to be out of otc over the weekend.............!!!!!

example of what next rns should might look like lol lol...

Measured 252,700

Indicated 364,500

Inferred 145,900

This is current situation in Kremnica project.

In this case we SP should be

252700 x 450= 113.715.000

364,500 x 122 = 44.469.000

145900 x 45 = 6.565.500

In total about $165mil

Then SP is 5.5p

In this context Ortac is undervalued 2.28times.

What can we expect for Jorc res. upgrade. Using a ratio of 40: 35:25, we can expect 400koz measured

350koz indicated

250koz inferred

In this case SP should be 180+42.7+11.25= $233.95 mil,

Or SP = 7.79p

ATB

Would be very nice if it comes through easter come early.,.

agreed bb - looking fwd to next week

found this from a respected poster - of interest....

DATE...............................13.01.11

OTC SHARE SHARE PRICE.....2.21p

OTC SHARES IN ISSUE........1,734,275,487

OTC MKT CAP....................38.3m

OTC CASH.........................approx. 4.2m

(Cash based on results for the year ending 30 September 2010 of 3.296m and OTCs 500,000 VGM shares worth around 0.9m at 180.75p/share.)

OPTIVA RESEARCH NOTE, dated 05 Jan 11:

http://www.ortacresources.com/documents/OptivaNote05.01.11.pdf



The recent Optiva note, has the heading "ORTAC The next European Goldfields Ltd?".

European Goldfields (EGU)is an AIM listed company, and is a developer/producer with 10Moz gold in Europe. (http://www.egoldfields.com).

EGU has a current Mkt Cap of 1.7 billion (191,838,979 shares X 890p)

(http://www.egoldfields.com/egoldfields/en/investors/aim).

A 1Moz gold resource is a significant psychological barrier. This is the number that makes others sit up and take notice of explorers like OTC.

OTC have said they expect to announce "in excess of 1Moz" in "early January".

As a direct comparison, 1Moz is 10% of EGUs 10Moz therefore valuing 1Moz at a potential 170m. OTC has a current mkt cap of 38.3m (1,724,137,931 shares x 2.21p).This means that when OTC announce a 1Moz resource they could be potentially worth as much as 170m, or 9.86p per share.

Obviously this is not a fair comparison as EGU are already a developer/producer while OTC is still just an explorer so EGU thoroughly deserves their premium. However, it does give an idea of the potential value of a 1Moz gold resource.

There are many other "goldies" with a 1Moz gold resource, many of which are valued at around 130m - 150m thus further emphasising the potential value of a 1Moz gold resource.

Currently, using the Jan 10 "Edison" valuation for a LONDON listed company, (and updated for a gold price of $1415) then this values the gold at $502.80/Oz Measured,$107.08/Oz Indicated and $4.71/Oz Inferred.

Using this basis, then OTCs current gold "in ground" JORC of 665,800 Oz Au (220,600 Oz Measured,315,200 Oz Indicated,130,000 Oz Inferred) is worth 90.22m or 5.2p/share...and we haven't had the upgrade yet!

By definition:

MEASURED - The locations are spaced closely enough to confirm geological and grade continuity

INDICATED - The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed.

INFERRED - Of limited or uncertain quality and reliability.

As can be seen from the above Edison valuation, anything in the INDICATED category is worth 22.73x more than Inferred and a MEASURED resource is worth a staggering 106.75x more than the "limited or uncertain quality and reliability" INFERRED !

OTC has 80.9% of their resource in the all important MEASURED & INDICATED categories. This is what makes OTC stand out from most of the other explorers. The importance of this cannot be stressed enough.

For example, CNR were a stellar performer ahead of their widely anticipated maiden JORC announcement recently, racing from around 0.4p to around 10.25p. They finally announced their maiden JORC of 868,000 Oz gold. This is more than OTCs 665,800 Oz gold. However, and most importantly, 100% of the CNR JORC was in the INFERRED (of limited or uncertain quality and reliability) and only worth 2.62m or 0.53p/share. On the day of the RNS, they had a mkt cap of 50.5m at 10.25p/share but only had gold worth 2.62m or 0.53p/share. The only reason the sp didn't completely collapse to around 1p was because, in the same RNS they said they were expecting to upgrade some of that INFERRED resource to the INDICATED category within the next 3 months without any further work. If it wasn't for this single comment it would have been disastrous. Even if one assumes they could transfer 50% of their INFERRED to the INDICATED category (and thats being generous) then, when they announce the upgrade in around 3 months time, the new Edison valuation would value CNR at around 32.79m or 6.3p/share:

CNR (assuming a generous 50/50 split):

INDICATED...434,000 Oz at $107.08/Oz...$48.49m (30.8m)...6.26p/share

INFERRED....434,000 Oz at $4.71/Oz.....$20.44m (1.99m)...0.04p/share

Another example is HUM. HUM have a current Canadian NI 43-101 resource of 812koz gold. This is directly comparable to a JORC according to Wiki.

http://en.wikipedia.org/wiki/National_Instrument_43-101

"The National Instrument 43-101 is broadly comparable to the Joint Ore Reserves Committee Code (JORC Code)"

"In many cases, NI 43-101 and JORC Code technical reports are considered inter-changeable"

Again, their gold of 812Koz sounds like its better than OTC's 665.8Koz gold. But because HUM do NOT have anything at all in the all important MEASURED category, then OTC actually has a far bigger value with less gold, ie OTC gold is worth 90.22m (mkt cap 38.3m at 2.21p) while HUMs gold is worth 31.58m (mkt cap of 87m). You do the maths.

Don't forget OTC also have a 5,403,200 Oz silver JORC. Again, the vast majority of OTCs silver is in the all important "Measured" & "Indicated" category.

On 12 Nov 10,Edison issued an Arian Silver update giving silver values of $13.7/oz Measured,$6.16/Oz Indicated, $0.88/Oz Inferred based on a silver price of $27.19/oz.

HOWEVER, the value of silver has now increased to $29.14/Oz, an increase of 7.2%. This gives up to date values of:

Measured....1,780,700..$14.68/Oz...$26,140,676.....16.74m...0.97p/share

Indicated...2,742,100..$6.60/Oz...$18,097,860.....11.59m....0.67p/share

Inferred....880,400....$0.94/Oz...$827,576......529,971

SUMMARY:

Mkt cap of 38.4m at 2,21p.

Cash of approx. 4.2m (including 500k VGM shares).

Current gold "in ground" is worth 90.22m or 5.2p/share.

Current silver "in ground" is worth 28.86m or 1.67p/share

Imminent upgrade to "in excess of 1moz" in "early January"

80.9% of the current resource is in the all important Measured and Indicated categories.

The current gold/silver and upgrade is only for 1.2km of their 6.5km strike this giving a potential 500% increase in resources to around 595m or 34.2p/share for just the 6.5km strike length alone.

The current gold/silver and upgrade does not include the south of the Kreminca mining licence area which "holds potential to host further significant resources".

The current gold/silver and upgrade does not include the 9 Slovakian licenses.

The current gold/silver and upgrade does not include the 77% owned Brazilian Iron Ore project.

There will be a "low cost ground magnetic survey" in early 2011 at the 77% owned Brazilian Iron Ore project.

The current gold/silver and upgrade does not include "Potential project additions" in an area of "world class deposits" in the "prolific gold region including Beregovo, Ukraine (4.5m oz), Rosia Montana, Romania (10.0m oz) and Chelopech, Bulgaria (5.0moz)"


These are my own personal opinions of course. You need to do your own research and reach your own conclusions. They may well be very different from mine."


In other words, OTCs silver "in ground" alone is currently worth 28.86m or 1.67p/share...and we haven't had the upgrade yet!

OTCs current "in ground" gold/silver resources are worth 119m (6.84p/share)...but they are based on only 1.2km of their 6.5km strike length at Kreminica. This is hugely important. Assuming they achieve a similar resource to the first 1.2km (and there is no reason why they couldn't)then this could result in a potential 500% increase to the Kremnica resource alone, ie 595m or 34.2p/share.

In the Optiva Research Note,dated 05 Jan 11, they gave a 6 month target of 3.45p....but this was based on the CURRENT known resource at Kremnica alone.

This target did NOT include:

1.....The imminent resource upgrade.

2.....The Brazilian iron ore project

3.....The 9 gold exploration licences in eastern Slovakia.

They said that the imminent resource upgrade (expected to be "in excess of 1Moz" in "early January) would "lead to a re-rating".

Optiva went on to say:

The Kremnica resource has "a high 80.9% is in the Measured and Indicated categories".

"the current resource statement includes only 1.2km of the known 6.5km strike length"

"Furthermore the management reckon that the exploration licence areas immediately to the south of the Kreminca mining licence area holds potential to host further significant resources."

Thats fantastic news. Not only are OTC expecting further significant resource upgrades from the remaining part of the 6.5km strike length as mentioned in 2 above, but OTC expect "further significant resource upgrades" from south Kremnica !

Zlata Bana, one of their 9 Slovakian exploration licenses "could be quickly converted from a Slovak to JORC code compliant resource of 360,000 to 500,000 ounces of gold equivalent in the Indicated and Inferred categories." It says they think this is "low grade" but advise progressing the project further to learn more about the mineralisation and project area".

"Ortac may look to add new interests in Slovakia and possibly elsewhere in Europe. Potential project additions are likely to made within the Carpatho‐Balkan metallogenic belt, that runs from Slovakia through eastern Europe to Turkey. As illustrated below, a number of world class deposits have been identified within this prolific gold region including Beregovo, Ukraine (4.5m oz), Rosia Montana, Romania (10.0m oz) and Chelopech, Bulgaria (5.0moz)." FANTASTIC !

The Brazilian iron ore project - "plans to conduct a low cost ground magnetic survey over the project area to identify potential areas for future drilling work in the early part of this year."

-----------------------------------------------------------

Certainly a good read, have held tmc for some time. would great if all comes true. cheers Gibby.

you are welcome bb

nice buys recently......

Date Time TradePrc Volume Trade PrcBuy/SellBidAskValue (approx)
17-Jan-11 16:31:52 2.30 2,500,000 Buy* 2.20 2.24 57.50k Trade Type:
Delayed publication
Historical (date is not today)

14-Jan-1113:01:52 2.32 10,000,000Buy* 2.20 2.24 232.00kTrade Type:
Delayed publication
Historical (date is not today)
Late reported

14-Jan-1110:01:11 2.33 8,000,000Buy* 2.20 2.24 186.40k


kerrrrrrrrchinnnnnnnggggggggggggggggg!! soon!

Time to buy ...........

Fibonacci retracement 61.8% @ 2.07p
The Fibonacci retracement has been reached at 2.07p, and the strong bounce should be now on. 61.8% Fibonacci retracement is a powerfull point in charting

The calculations for that are 2.98p intraday high and 1.50p intrady low ( before rising)

Chart done on the 6th January

Is motoring now already 2.24p above yesterday's close

a more recent Fibonacci of today >>>>>>>>>

was strong at the start and now moving higher once again

spread 2.50 / 2.55p +0.325p

yep a satisfactory day - more to come imo
gl

Yep, held up well today! tomorrow?

rns would be nice - lol!! have a good evening

Saturday, The Times, "Tiddler to watch":
"Canny punters were keeping a close eye on Ortac Resources, which rose 5 per cent, or 0.14p to 2.5p on AIM. The speculation is that the junior miner, which is looking for gold in Slovakia, would reveal on Monday that reserves are as much as 50 per cent greater than previous estimates of just shy of one million ounces of the precious metal."
Monday should be interesting.......

Well very good news, + 50% more Gold, Can't wait untill Mon, what sp can we exept 4-5-6-7-8p? Was very happy to read this in the Sat Times, made my weekend!

Now must dig out the wheel barrow ready to transport my winnings on Monday!!!

Up up and away Monday....

Yes, good news.
Been in since 1.6p so already in 50% profit...wished I'd bought a lot more!

Monday will be interesting... who knows what sp it'll be ... could even pull back on good news!,,,more likely to spike at 5-6pish i reckon (imho, DYOR)

good start to the day and no RNS. what price with an RNS?

Going places with volume 45M already

Last chance to get these at 2.85p!!
Hopefully RNS tomorrow!!

DJ Ortac Resources Limited Raises JORC Resource to 1.1Moz Au Eqv.

TIDMOTC

RNS Number : 0190A

Ortac Resources Limited

25 January 2011

Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration

25 January 2011

Ortac Resources Limited ('Ortac' or 'the Company')

Increases JORC Code Compliant Resource to 1.1 Moz Au Equivalent

Ortac Resources Limited (AIM: OTC), the AIM listed exploration and development company focussed on precious metal projects in Europe, is pleased to announce that Snowden Mining Industry Consultants (Pty) Ltd ('Snowden') has completed an updated mineral resource estimate for its wholly owned flagship Kremnica Gold Project in Slovakia ('Kremnica' or 'the Project'), which has increased the total JORC Code compliant resource to 1.1 Moz of gold equivalent ('Au Eq').

Highlights

-- Total gold equivalent resource increased by 323,000oz to 1.1 Moz Au at a 0.75 g/t Au cut-off;

-- Resource upgrade and remodelling provides the Company with a clearer understanding of the mineralisation of the Project ahead of the publication of a preliminary scoping study during the second half of 2011; and

-- Exploratory drilling to commence on wider Kremnica Mining Licence area focusing on existing and additional Au targets.

Ortac Resources Limited CEO Vassilios Carellas said, "This resource upgrade, which increases the total gold equivalent resource at Kremnica by over 40%, is a key milestone for Ortac as we move into our development phase on this highly prospective project. The Company can now focus on delineating further resources through its planned drilling campaign targeting 2 million ounces of gold equivalent ('Au Eq'), and commence the preliminary scoping study that should provide an outline for bringing the project into production."

A summary for the updated resource estimate for the Kremnica Gold project is tabulated below.

Table 1. Mineral Resource Estimate for the Kremnica Gold

project - 0.75 g/t Au cut-off grade

Quantity Grade Contained Metal
Au Au_Eq
Resource Tonne Au Ag Au_Eq (k Ag (k (k
Category (kT) Density (g/t) (g/t) (g/t) oz) oz) oz)
Measured 1,600 2.11 1.84 15.1 2.14 96 790 111
----------- ------- -------- ------ ------ ------- ----- ------ ------
Indicated 6,700 2.21 1.86 15.6 2.17 400 3,353 467
----------- ------- -------- ------ ------ ------- ----- ------ ------
Meas. +
Indic. 8,300 2.19 1.85 15.5 2.16 495 4,143 579
----------- ------- -------- ------ ------ ------- ----- ------ ------
Inferred 9,100 2.29 1.51 11.2 1.74 443 3,284 508
----------- ------- -------- ------ ------ ------- ----- ------ ------
Total 17,400 2.24 1.68 13.3 1.94 938 7,427 1,086
----------- ------- -------- ------ ------ ------- ----- ------ ------

1. Tonnes rounded to 2 significant figures. Ounces rounded

to 3 significant figures

2. Rounding of numbers can result in small discrepancies

in the table

3. Au Eq. (Gold Equivalent) has been calculated for each

block with Au Eq. Ratio of 50 parts Ag for every 1 part

Au. This is based on LME values: Au $1344 per ounce, Ag

$27.14 per ounce (24/01/2011)

4. The figures in the table above are gross and net, ie

100% attributable to the holder

5. The holder/ operator of this asset is Kremnica Gold

Mining, ie a 100% subsidiary of Ortac Resources Limited

Further Information

The Kremnica Mineral Resource estimate is in accordance with the widely accepted international reporting standard as defined using the December 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, prepared by the Joint Ore Reserves Committee of the Australian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia ('JORC Code').

The resource has been estimated by Snowden Mining Industry Consultants ('Snowden'), and been tabulated above block model cut-offs of 0.5 g/t Au 0.75 g/t Au and 1.0 g/t Au. The Mineral Resource has been classified by Snowden as Measured, Indicated and Inferred according to the JORC Code and is based on interpretations and data supplied by Ortac.

Table 2. Grade-tonnage reports - 0.5 g/t Au, 0.75 g/t Au and 1.0 Au g/t cut-off grades

Au Au
Tonnes Au Ag Eq. Au Ag Eq.
Cut-off Category (kT) (g/t) (g/t) (g/t) (koz) (koz) (koz)
--------- ---------- ------- ------ ------ ------ ------ ------ ------
0.5
g/t Meas. &
Au Ind. 9,000 1.76 14.8 2.05 510 4,296 596
--------- ---------- ------- ------ ------ ------ ------ ------ ------
Inf. 13,500 1.22 9.0 1.40 529 3,902 607
-------------------- ------- ------ ------ ------ ------ ------ ------
Total 22,500 1.44 11.3 1.66 1,039 8,198 1,203
-------------------- ------- ------ ------ ------ ------ ------ ------

Au Au
Tonnes Au Ag Eq. Au Ag Eq.
Cut-off Category (kT) (g/t) (g/t) (g/t) (koz) (koz) (koz)
--------- ---------- ------- ------ ------ ------ ------ ------ ------
0.75
g/t Meas. &
Au Ind. 8,300 1.85 15.5 2.16 495 4,143 579
--------- ---------- ------- ------ ------ ------ ------ ------ ------
Inf. 9,100 1.51 11.2 1.74 443 3,284 508
-------------------- ------- ------ ------ ------ ------ ------ ------
Total 17,400 1.68 13.3 1.94 938 7,427 1,086
-------------------- ------- ------ ------ ------ ------ ------ ------

Au Au
Tonnes Au Ag Eq. Au Ag Eq.
Cut-off Category (kT) (g/t) (g/t) (g/t) (koz) (koz) (koz)
--------- ---------- ------- ------ ------ ------ ------ ------ ------
1.0
g/t Meas. &
Au Ind. 7,400 1.98 16.4 2.30 469 3,893 547
--------- ---------- ------- ------ ------ ------ ------ ------ ------
Inf. 6,600 1.75 13.0 2.01 375 2,791 431
-------------------- ------- ------ ------ ------ ------ ------ ------
Total 14,000 1.87 14.8 2.17 845 6,684 978
-------------------- ------- ------ ------ ------ ------ ------ ------

1. Tonnes rounded to 2 significant figures. Ounces to 3 significant figures

2. Rounding of numbers can result in small discrepancies in the table

3. Au Eq. (Gold Equivalent) has been calculated for each block with an Au Eq. ratio of 50 parts Ag for every 1 part Au. This is based on LME values: Au $1344 per ounce, Ag $27.14 per ounce (24/1/2011)

4. The figures above are gross and net, i.e. 100% attributable to the holder, Kremnica Gold Mining s.r.o., a 100% subsidiary of Ortac Resources Limited.

5. The holder/ operator of this asset is Kremnica Gold Mining, ie a 100% subsidiary of Ortac Resources Limited.

Snowden's grade-tonnage estimate used data from the sampling of adits, surface and underground diamond drill core, surface reverse circulation and trench samples. The database was compiled and verified by Ortac. Snowden's checks indicate that the data is of sufficient quality to support the resource classifications applied.

Multiple Indicator Kriging was used to estimate the gold and silver grades into a block model constrained by the Ortac geological interpretation. This model reflects the interpreted structure and geology. Search ellipse and ranges used in estimation reflect the spatial continuity and trends of the mineralisation in each of the mineralised domains.

Snowden based the classification of the Mineral Resource upon a number of criteria, including the confidence in the geological interpretation, the integrity of the data, the spacing between the data, the grade continuity as demonstrated by the variography. The resource estimate has been classified using the guidelines of the JORC Code (2004).

The information in this report that relates to Mineral Resources as defined under the JORC Code is based on information compiled by Mr Vassilios Carellas (who takes responsibility for the data and geological interpretation) and Mr Ivor Jones (who takes responsibility for the estimation).

Mr Ivor Jones, (BSc (Hons), MSc, FAusIMM, CPgeo), is the Group General Manager of Geosciences at Snowden and produced the resource estimate based upon the data and interpretations provided by Ortac. Mr Jones has sufficient experience relevant to the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined under the JORC Code. Mr Jones consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

Mr Vassilios Carellas (BSc (Hons), MAusIMM) is the Chief Executive Officer of Ortac Resources Limited and provided the sample database as well as geological interpretations for the Mineral Resource estimation. Mr Carellas has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined under the JORC Code. Mr Carellas consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

**ENDS**

(MORE TO FOLLOW) Dow Jones Newswires

25-01-11 0700GMT

For further information please visit www.ortacresources.com or contact:

Vassilios Carellas Ortac Resources Ltd +44 (0) 20 7440
0646
Charles Wood Ortac Resources Ltd +44 (0) 20 7440
0646
Roland Cornish Beaumont Cornish Limited +44 (0) 20 7628
3396
Rosalind Hill Abrahams Beaumont Cornish Limited +44 (0) 20 7628
3396
Jeremy Stephenson Seymour Pierce Limited +44 (0) 20 7107
8072
Stewart Dickson Seymour Pierce Limited +44 (0) 20 7107
8335
Jeremy King Optiva Securities Ltd +44 (0) 20 3137
1904
Jason Robertson Optiva Securities Ltd +44 (0) 20 3137
1906
Susie Geliher St Brides Media & Finance +44 (0) 20 7236
Ltd 1177
Lottie Brocklehurst St Brides Media & Finance +44 (0) 20 7236
Ltd 1177

Notes:

Ortac Resources Limited is an AIM listed exploration and development company focussed on the development of precious metal projects in Europe. Its focus is on the Carpatho-Balkan Metallogenic Belt, initially the Central Slovakian Volcanic Field, where its Kremnica gold deposit forms part of a large low-sulphidation quartz-sericite-adularia epithermal-hydrothermal system hosted in Tertiary andesite volcanic flows, tuffs, lesser diorites and rhyolite dikes. The Company has produced an interim JORC compliant resource statement of 1.1 million ounces of gold equivalent and has appointed Snowden Mining Industry Consultants Pty to prepare a preliminary scoping study which is expected during the course of the year.

The Company's objective is to complete a definitive feasibility study and environmental impact assessment with a view of bringing the Kremnica Gold Project into production. The Company's strategy is to utilise its highly experienced board and management team and its solid foothold in Central Europe to consolidate additional precious metal development opportunities to build shareholder value.

Glossary

"adit" a nearly horizontal passage from the surface by which a mine is entered, dewatered or mined;

"Ag" the chemical symbol for the element silver;

"andesite" a volcanic rock of intermediate composition characteristic of the basalt-andesite-dacite-rhyolite association and the extrusive equivalent of a diorite;

"Au" the chemical symbol for the element gold;

"Au Eq" gold equivalent;

"core drilling" the process of obtaining cylindrical rock samples by means of annular-shaped rock-cutting bits rotated by a borehole-drilling machine;

"cut-off grade" the lowest grade of mineralized material considered economic; used in the calculation of the ore reserves in a given deposit;

"diorite" intermediate, coarse-grained igneous rock with up to 10% quartz;

"epithermal" vein deposit formed at shallow depths from unstable hot solutions;

"grade" the relative quantity or the percentage of ore-mineral or metal content in an orebody;

"hydrothermal" the name given to any processes associated with igneous activity which involve heated or superheated water;

"Indicated (Mineral) Resource" that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed;

"Inferred (Mineral) Resource" that part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be limited or of uncertain quality and reliability;

"JORC" the code for reporting of the Australasian Joint Ore Reserves Committee, which is sponsored by the Australian mining industry and its professional organisations. The code is widely accepted as a standard for professional reporting purposes for reporting of mineral resources and ore reserves;

"Kriging" a method of interpolation which predicts unknown values from data observed at known locations. It uses the variogram to express spatial variation, and minimizes the error of predicted values that are estimated by spatial distribution of the predicted values;

"low sulphidation" a type of epithermal mineral deposit formed from low temperature magmatic fluids;

"Measured (Mineral) Resource" that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a high level of confidence. It is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are spaced closely enough to confirm geological and grade continuity;

"orebody" continuous, well-defined mass of material of sufficient ore content to make extraction economically feasible;

"oz(s) ounce" Troy ounce - 1 ounce is equal to 31.1034807 grammes;

"resource (mineral)" a concentration or occurrence of material of intrinsic economic interest in or on the Earth's crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories;

"rhyolite" a fine-grained acidic volcanic rock compositionally equivalent of a granite;

"specific gravity" the ratio of the weight of a substance to the weight of an equal volume of water;

"trench" a long, narrow excavation dug through overburden, or blasted out of rock, to expose a vein or ore structure;

"tuff" a general term for all consolidated pyroclastic rocks;

"vein" a tabular deposit of minerals occupying a fracture, in which particles may grow away from the walls toward the middle;

"wireframe" a visual model of an electronic representation of a three-dimensional object;

This information is provided by RNS

The company news service from the London Stock Exchange

END
DRLFMGZMVKRGMZG

(END) Dow Jones Newswires

25-01-11 0700GMT


ntd909 - 25 Jan'11 - 07:04 - 1720 of 1721


Get in!!!!! What a result! =)

silverfern - 25 Jan'11 - 07:05 - 1721 of 1721


A 40% upgrade and a tad over what most expected. NOte they are looking to find 2million ounces in total. it is the scoping study by the way that management said would be completed in Q1 so we can look soon to understand how the gold will be obtained though open pit will do for most of

Fantastic.....this is what we have been waiting for!!
Where will the price end up today.........4p anybody??

lol kerrrchinnnnnnnnnnnnnggggggggggggggggg!!

not quite the response i was hoping for. hopefully a few people locking in profit before another rise. topped up twice this morning the first time a little too expensive @3.05p and again @2.81p

DYOR GLA

Alex

This is your last chance to buy before we go through 3p for the last time!!

sp not impressive so far.,.

Ouch!!!

if it drops 18% on good news, what will it do on bad news?
in again at 2.28p but now heavily overweight in these. Question is was that a good move??
as always DYOR and GLA

Alex

2.27 / 2.30p -0.50p

signs of the profit taking and marked down could be at the end by the sign on the chart of a intraday double bottom

Buyers are paying a large premium 2.48p and 2.45p for large trades

The bounce is on now 2.37 / 2.40p - 0.40p

imo will bounce tomorrow - this is way over done - a lot of panic and auto sells triggered also - thankfully i'm in for the long haul so not concerned - any bought 3p + today - dont worry - just needs a little patience - gl

good time to buy more I reckon!

ditto that skyhigh - i did today also! today was typical aim share - no matter how good the stock will suffer the dips like any other - but can recover easily as quickly

to use the ant and dec phrase,you didnt expect that did you? despite great expectations this holding has taken the route of so many of my previous ones.Chartist is now looking at being tied to his desk for at least another decade,while I take up another occupation possibly gurning as my facial expressions have had plenty of practice.

Aren't you a BUSY BEE?

Taking the P!SS and something else
I do hope you are choosing the right flowers cos I do want the right taste for my honey.

-----------

shares
Up and down like a whore's knickers once again today or this morning, punters and investors reading again and again yesterday's news.

slap my wrist! I just cant help myself.just bought another wedge at .0195

lol
lots of shares down at the moment
this drop defies logic - topped up again this morning

honest advice is buy while you can
this will bounce if not today - next few days
typical aim trading - not worried one bit

anyone with sense and experience imo would buy now - but hey ho that is an individuals choice gla

i think you are right. i have been buying in at a steady rate.time will tell.

its worth noting that CENTARMIN was upgraded by 13% in2006 7.7moz, look at the values and results.1.1moz may not set the world on fire but it is under valued at .020,this is only a single mine with more in the pipe line.

You could buy them at 1.81p just now, 7% cheaper

i know - i always smile when AIM causes so much panic - never mind - gl

note mms are buying shares here - they do not collect shares but sell at a profit - plenty of buyers :-)

trades look 50/50 lot of volume.

The bounce is on now 1.90 / 1.97p -02.29p
but will it last if it does it would be good to pause around 2p later

Moving on the right direction now offer at 2p

good stuff cielo

also from the other side...

Just spent 2 hours writing a new post based on the latest figs showing just how huge the potential still is. Just as i was about to submit it my computer crashed !

I am now going to resort to a couple of "1 liners" from memory and go out for lunch.

OTC Mkt Cap 34.7m at 2p with 1.1Moz.

EGU has 10Moz and has a Mkt Cap of 1.7 billion, showing that OTC's 1moz is potentially worth around 170m, 4x current Mkt Cap.

HUM have 812,000 Oz only, ALL of which is in the Inferred category and has a Mkt Cap of 90m. Thats 3x current OTC mkt cap and OTC actually has Measured & Indicated,albeit lower.

Many other "goldies" with 1Moz have a mkt cap of circa 130m - 150m, 3-4x OTC mkt cap.

OTC current gold worth around 3.4p/share.(on only 1.2km)

OTC current silver worth around 1.34p/share.(on only 1.2km)

OTC current resource based on only 1.2km of 6.5km strike length of Kremnica.

Full 6.5km expected to produce 2Moz.

Current figs and 2Moz based on current drilling depth/width and Optiva stress that this will be "much larger" as it extends in both width & depth.

One of their Slovakian exploration licenses has a current resource of 360,000 - 500,000 Oz that Optiva say can be quickly converted to JORC standards.

the Kremnica Mining Licence has an area of 11.79 km2, the Lutila Exploration Licence has an area of 63.2 km2 and the Vyhne Exploration Licence of 36.90km2.

The Lutila Exploration Licence of 63.2 km2 is adjoining the current Kremnica license which expects to produce a MINIMUM of 2Moz in just 11.79 km2. So Lutilla could easily produce ober 10Moz which is why Optiva have compared them to the 10Moz 1.7 billion Eiropean Goldfields.

They also have the Vyhne Exploration Licence of 36.90km2 and 9 other Slovakian licenses.

OTC also plan to expand into other "World Class" mining areas according to the Optiva note.

still way undervalued and STILL the next European Goldfields imho.

When you do something remember why! I am remembering why I bought OTC and if anything its got better so I will stick with it.

All the signs of an INVERTED Head and Shouders on the Intraday chart
only needs tomorrow go to 2.22p and then follow the 5 day chart up

next few days should be interesting - link to optiva rating - many would have seen this - target 3.45p within 6 months http://www.ortacresources.com/documents/OptivaNote05.01.11.pdf

but just one point to keep in mind - there will be a steady news flow - and we all know where an sp heads on expectation of news!! extract of optiva report here : 'Publication of a revised JORC statement anticipated in
January/February 2011, could be the first of many newsflow enhancing price catalysts
during 2011. Against the background of a continuing strong gold price environment,
anticipated project developments should be positively received by investors.'
et cetera

spent a very early morning mulling over the facts and figures and my buy finger is poised,

Am I missing something here?Just bought at .01789 which in my opinion is the markets equivilent of buy one get one free!! But it seems to have all the bounce of a wet sock!!

bb - yep - but not that surprised - i would expect a little bounce tomorrow now - my finger on the top up button but today i was not convinced the bounce would happen - your price is a good one whether bounce tomorrow or next week - i am just greedy and want lower lol! either way 6 months time neither of us will be worrying about a point here and there with otc - you watch it go - the real big winners are the mms and larger investors who watch the small pi's panic and mop up the shares on the cheap - same old same old - otc prospects are excellent - real reserves expected 2m + no problem some talking 5m + et cetera, then silver et al

just topped up with a few at 1.73p but logged as a sell.,.

spread 1.65 / 1.72p

still down on the day but signs now by the way the Intraday is going ( higher highs and high lows ) that the bottom could be earlier on at 1.555p

A few things have gone the other way since the news on Tuesday

The news were good but not enough for some so deramping and as the share price drops the large amount of punters with T+ have sold to protect their money so a roller coaster has originated, then GOLD price has come down so much that MMs did not mind to move higher but then much lower again, the same was happening today earlier.

At the moment there are 2 signals saying is most likely the bottom for the moment being....
1 - share price at below Bollinger lower Band ( buy signal ) and
2- Williams -100 at lowest for some time like on the 19th 9 days ago before bouncing

lol fantastic day - topped up on the low i was seeking and as i hoped & mentioned above we got the little bounce on top!!!! this post is for fellow investors in otc and those a bit down worrying about the sp when there is no need to:..

http://www.iii.co.uk/articles/14072/exclusive-ortac-moves-ease-investors-fears

Fri, 28/01/2011 - 16:14 | Fiona Bond

It's been a harsh 48 hours for European gold miner Ortac Resources (OTC), which has seen its share price slump by 50% in the wake of a disappointing resources report for its flagship Kremnica Gold project in Slovakia.

The AIM-listed group was trading at a high of 3.3p on Tuesday but has since fallen to 1.7p as investors continue to grow spooked by the company's reduction in the Measured category of gold at Kremnica.

However, a spokesperson for the company told Interactive Investor on Friday that the steep drop was unwarranted and stressed that the figures supplied were as a result of remodelling historic data rather than the findings of a drilling campaign.

Shareholders flocked the stock after the company reduced its Measured Resource category by over half, with numbers sliding to 112,000 ounces from the earlier 2009 estimates of 252,700 ounces.

The results did, however, reveal a 40% upgrade in inferred resource to 1.1 million ounces of gold equivalent at a 0.75 gram per tonne cut-off.

The spokesperson told Interactive Investor: "The recent resource update, which increased the total JORC Resource by 40% to 1.1Moz, represents the first stage of development for Ortac since acquiring the asset, putting in place a more robust model ahead of the publication of a preliminary scoping study in the second half of 2011."

Europe-focused Ortac said the resource update provided it with a clear understanding of the mineralisation of the project and it would now focus on delineating further resources going forward.

"A drilling campaign, which has been planned to infill drill and quickly increase the total resource size in addition to upgrading more ounces into the higher confidence categories, is due to commence imminently as the Company targets a total resource of circa two million ounces in the medium term," the spokesperson added.

bring on monday - kerrrchinnnnnnnngggggggggggggggggggggggggggggggggg!!

just take advantage of the low as much as you can - not forgetting do not put too many eggs in one basket rule - otc had a dip due to hysteria, mm usual market manipulation, panic, auto stops triggered et cetera - dont think the gold price too much of a concern with global currencies struggling - and take a look at sres - last i saw a bargain checking after this post

good stuff again cielo & bb 1.789 - you wont regret that!!

have a good weekend all

In Saturday's Times Business Section

'It was a steadier day for Ortac Resourses. Shares that changed hands for barely 1.5p in December, that fetched as much as 3.3p on Tuesday ahead of a 40 per cent increase in the estimated amount of gold at its Kremnica project in Slovakia, then fell sharply on nerves about reduction in the amount of precious metal measured with 'high confidence' rallied 3.7 per cent to 1.815p. The word was that this measured figure would also be upgraded after the current drilling campaign.

January 28, 2011
Eric Sprott - Expect $50 Silver, Gold Possibly $2,150 by Spring

With gold and silver rallying off the lows today, King World News interviewed Eric Sprott, Chairman of Sprott Asset Management which has $8 billion under management. When asked about the Sprott physical silver trust acquiring silver Eric stated, We had to go into the market and buy about 15 million net ounces from third parties and it took us about ten weeks. It was a very, very long process and the one thing we can read out of it is obviously there werent 15 million ounces sitting around somewhere.

I havent had time to study where the bars came from, but I can tell you by looking at the pictures of the bars they look like they came right out of the refineries. So I suspect its a hand to mouth situation in silver.

I think if we went in to by twenty million ounces of silver it would take a long time. I know we had an order to buy a million ounces about five weeks ago for a different account and the delivery was going to be two months. So I think silver is as tight as a drum.

When asked about price targets for both gold and silver Eric responded, Our best technical advisor, he thinks (gold) its going to $2,150, and he thinks it is going to $2,150 this spring.

I think silver is a little easier to predict because I think its going to change relative to gold which is a more predictable event and more timely. Ive always thought that silver should touch $50, and Im not going to be surprised if it touches it by the middle of this year as people realize there is an absolute shortage.

Eric Sprott discussed the gold and silver markets in great detail as well as other critical monetary events. The complete in-depth King World News interview with Sprott will be available later today.


Who is Sprott?

- He's a Canadian billionaire and manages $5bn in funds.
- He is a major shareholder in AGQ (think security of supply for his trust)
- A first class track record of calling it right - which is why he's wealthy.

The blurb:

'Eric Sprott: Chairman, Chief Executive Officer & Portfolio Manager of Sprott Asset Management - Eric has over 35 years of experience in the investment industry and manages roughly $5 billion. Eric has been stunningly accurate in his writings for over a decade, and is one of the highly respected industry professionals who was able to foresee the current crisis. He chronicled the dangers of excessive leverage as well as the bubbles the Fed was creating, while correctly forecasting the tragic collapse we are all enduring. Sprott Asset Management is one of the top firms in the world. The firm has become well known not only for its performance, but also for creating a gold and now silver trust.'

bought a wedge below 1.6 Friday then mulled it over and jumped in on the fall this am at 1.87 I still have confidence but watching the sales its like a Mexican wave.Still its very active which is more than I can say of my ATL which is like watching a dead tortoise for signs of life!!

still buying but it does feel as if i am a voice in the wilderness,a little blue in a sea of red!! taking a 6-12 month view on it and unless the information we glean is spoken with a fork tongue still stacks up.Time will indeed tell.

When is next placing soon i expect running out of money more ords to add to present high amount

Odd - not heard anything about otc running out of cash - quite the opposite - if & when they need to raise cash would not see that as a major hurdle

bb - i am in 12 mths + not looking short term these dips are just ideal - you will reap the profits, i remember rrr - i was in suc 3p last year now look at it - if ab is correct about he will be disppointed if rrr not a 500m company i'll be even happier as that equate to around 80p share - kerrrrrrrrrchhhhhhhinnnnnnnnnnnnnnnggggggggggggggggaroooooooooooooooooo!!!

gl

and ab ref rrr meant disappointed if not 500m company at the end of 2011!! the chairmans words not mine - all recorded and available to general public - lol

Lot of sales start this a.m, eyeing up the ladies diamond earrings i am sure she would appreciate a good investment rather than those baubels!!lol

lol bb!

& talking of sales of a different kind....

Below is a post from mulledwine which might explain why mine and many aim stocks are performing like they are.:

For those who are not aware - not all sells in AIM just now are becuase PI's have no faith in a Company!

On 21 Jan 11, CMC Markets, one of the worlds leading online CFD providers and financial spread betting companies, has de-listed ALL AIM stocks and all AIM share bets that remain open will be closed out at the closing price on 11th February 2011.

This has been causing some excessive selling in many AIM listed stocks and is worth noting if any of your AIM stocks are being hit by an unexplained sell-off as it could last until 11 Feb 11.

kerrrrrrrrchinnnnnnnnnnnnnggggggggggggggggarooooooooooooooooooooooooooo :-))

from the other side..............

'Independent on Sunday................. An article today reaveals that OTC has raised 15.5m in an oversubscribed Placing.' This is great news and provides the cash required & firepower for the company to deliver on its strategy.

kerrrrrrrchinnnnnnnnnnggggaroooooooooooooo!

lol..................... gold in them thar over subscribed hills!!!....

http://www.independent.co.uk/news/business/news/ortac-raises-16315m-to-redig-mine-2205567.html

Ortac raises 15m to re-dig mine

By Mark Leftly


Sunday, 6 February 2011
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Ortac Resources, an AIM-listed precious metals group, has secretly raised 15.5m to redevelop a mine that first produced gold more than 1,200 years ago.


The company's lead broker, Seymour Pearce, approached institutional investors for 8m, but demand to fund the Slovakian development has been greater than anticipated. The money will be used to drill its Kremnica site, where mining began in the 8th century, as management tries to establish that there is nearly double the recoverable gold in the area than is currently accounted for in its books. The study is expected to take place in the second half of this year.

Although Kremnica is Ortac's main focus, the company also owns an iron ore project in Brazil, called Rio Paranaiba.

A spokesman for Ortac declined to comment. Ortac shares closed at 1.66p on Friday, down 3.48 per cent on the start of the day's trading. This values Ortac at nearly 30m.

yep roll on tomorrow - lol

it would appear that the market does not agree?

i am not that surprised - can often take a day or two for this type of news to bed in - great to have the iis on board and over subscribed i noticed a bit of a peak this afternoon until the profit taking again - onwards and upwards

gibby

Is it just 8m or additional to, i.e. 24m

driver - we really need an rns to clear this up - otc had a leak imo now with the latest rns playing rns catch up - see rns below - additionally market cap pre ii funding below was give or take 30M - city chatter is the new ii money will be 15M but otc state below 8M - next rns should clear this up nicely - very interesting times ahead...

Monday 07 February, 2011Ortac Resources Ltd
Seeking to Raise Approximatel
RNS Number : 8158A
Ortac Resources Limited
07 February 2011



Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration

7 February 2011

Ortac Resources Limited ('Ortac' or 'the Company')

Seeking to Raise Approximately 8 Million



Ortac Resources Limited (AIM: OTC), the AIM listed exploration and development company focussed on precious metal projects in Europe, announces that, further to recent press speculation, it is seeking to raise approximately 8 million at 1.5p per ordinary share in order to accelerate development of the Kremnica Gold Project in Slovakia. The Company hopes to be in a position to announce full details of the placing shortly.



**ENDS**



For further information please visit www.ortacresources.com or contact:

will this dilute the stock and hence the SP or should it bolster the SP because it will accelerate the project and thus be beneficial to the co and thence us shareholders?

I'd like to think the 2nd outcome but it may take a little longer to come to fruition now?

i think sar has deflected a lot of people from here today (myself included!) and poss pyc & sar tomorrow - anyhow back to otc - imo this shows great confidence by the iis, it was over subscribed (tbc officially), the ii investment underpins otc, there will be no need to borrow now, it will add value and allow the fast tracking of the projects and the money has not gone but adding value to it - it will work for otc - great move by the bod here

gla

excellent - will enable fast tracking etc etc - onwards & upwards....


Ortac Resources Ltd
GBP8.4m Raised to Advance Kre
RNS Number : 9050A
Ortac Resources Limited
09 February 2011



Ortac Resources Limited / Epic: OTC / Market: AIM / Sector: Mining & Exploration

9 February 2011

Ortac Resources Limited ('Ortac' or 'the Company')

8.4 Million Raised to Advance the Development of the

Kremnica Gold Project in Slovakia



Ortac Resources Limited (AIM: OTC), the AIM listed exploration and development company focussed on precious metal projects in Europe, announces that it has raised 8,421,053 before expenses via a placing ('the Placing'), which was oversubscribed, of 561,403,533 new ordinary shares ('the Placing Shares') at a price of 1.5 pence per ordinary share. The money raised will be mainly used to advance the development of the Kremnica Gold Project ('Kremnica' or 'the Project') in Slovakia.



Anthony Balme, Ortac's Chairman, has participated in the Placing through the acquisition of 3,333,333 shares and now holds 157,373,463 shares representing 6.9% of the Company.



Background to the Fundraising



The Company's strategy is to delineate further resources into JORC categories, whilst at the same time advancing the Company's flagship asset, Kremnica, towards production. In line with this, the Company recently announced the completion of the updated JORC Code compliant resource estimate for the Project of 1.1 million ounces of gold equivalent of which over half is in the measured and indicated categories. Ortac now intends to carry out additional drilling to target areas of the Project that have been estimated but not classified and to convert further ounces into the higher confidence categories.



Simultaneously, the Company intends to advance the various studies required for the satisfactory completion of a bankable feasibility study that would lead to project finance and re-starting of mining at Kremnica.



Additionally, some funds will be made available to unlocking value in the Company's extensive portfolio of exploration license areas as well as for assessing other advanced stage projects in the region.



Ortac CEO Vassilios Carellas said, "We are delighted with the strong appetite that this Placing has received, particularly the support from some of the larger institutions in the City. This round of funding will enable the Company to further expand and upgrade the existing resource at Kremnica and unlock further value in some of our other exploration license areas."



The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company. Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8 a.m. on 15 February 2011.



After the issue of the Placing Shares, the Company's total issued capital, with voting rights, will be 2,295,679,020 Ordinary Shares of no par value. This figure may be used by the shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in or a change to their interest in the Company.



**ENDS**



For further information please visit www.ortacresources.com or contact:



Vassilios Carellas
Ortac Resources Ltd
+44 (0) 20 7440 0646

Charles Wood
Ortac Resources Ltd
+44 (0) 20 7440 0646

Roland Cornish
Beaumont Cornish Limited
+44 (0) 20 7628 3396

Rosalind Hill Abrahams
Beaumont Cornish Limited
+44 (0) 20 7628 3396

Jeremy Stephenson
Seymour Pierce Limited
+44 (0) 20 7107 8072

Stewart Dickson
Seymour Pierce Limited
+44 (0) 20 7107 8335

Jeremy King
Optiva Securities Ltd
+44 (0) 20 3137 1904

Jason Robertson
Optiva Securities Ltd
+44 (0) 20 3137 1906

Susie Geliher
St Brides Media & Finance Ltd
+44 (0) 20 7236 1177

Lottie Brocklehurst
St Brides Media & Finance Ltd
+44 (0) 20 7236 1177

All this mutual back slapping is all very well. The stark reality is that they are taking on an old redundant mine and trying to convince the investors that it is a worth while project. They seem to have convinced the large investment houses but small investors are running around like a flock of frightened sheep. I am in for the long haul, which doesnt mean I will not get caught, I have been before, subsea being a glaring example. Looking at the level of commitment from the B.O.D and the city, who have far wiser heads than me, it seems a reasonable risk. So I am still snapping up when the price is low. If the survey reports are all kosher,and we have no reason to think otherwise, its a waiting game. With spring around the corner and work pushing on post 3pence by april is not unreasonable and for the future, look around at the other producing mines and do the sums.

bb indeed - imo any long term investment here will do well - the money for the mms is most often made from impatient frieghtened inexperienced pi's

the guy who bought 6.8M of these this morning at full of ask must also be full of confidence here

i see this heading in a northerly direction most of the time now - minus usual dips of any share

gl

Good! now the 8.4 Million Raised is out of the way perhaps the sp will bounce from here! time to buy a few more methinks!

lot of sells this am, somebody just parted with 12,000.000 @ 1.61 not the direction we would like to see!!

big sells,but just bought in @.0158 but buy shown as not known!!

bb - dont believe all buys and sells as published - one of the favourite mm tricks is if you get a buy under the mid price 9 times out of 10 - scratch that probably 10 times out of 10 it will show as a sell - unknown another favourite - they have this and many other tricks - need l2 to assist in this - also you may want to read this

i have 101% confidence in otc

If you have a spare minute, a glass of wine and a hot mince pie to hand then have a read. Not suggesting anything here only trying to provide the other (possible) side of the coin. Read, digest or excreet as you see fit.

TDT

In every profession, there are probably a dozen or two major rules. Knowing them cold is what separates the professional from the amateur. Not knowing them at all? Well, let's put it this way: How safe would you feel if you suddenly found yourself piloting (solo) a Boeing 747 as it were landing on an airstrip?

Unless you are a professional pilot, you would probably be frightened out of your wits and would soil your underwear. Hold that thought as you read this essay because I will explain to you how market manipulation works. What the professionals and the securities regulators know and understand, which the rest of us may not, is this.

"RULE NUMBER ONE: ALL SHARP PRICE MOVEMENTS -- WHETHER UP OR DOWN -- ARE THE RESULT OF ONE OR MORE (USUALLY A GROUP OF) PROFESSIONALS MANIPULATING THE SHARE PRICE."

This should explain why a mining company finds something good and "nothing happens" or the stock goes down. At the same time, for NO apparent reason, a stock suddenly takes off for the sky! On little volume! Someone is manipulating that stock, often with an unfounded rumour. In order to make these market manipulations work, the professionals assume: (a) The Public is STUPID and (b) The Public will mainly buy at the HIGH and (c) The Public will sell at the LOW.

Therefore, as long as the market manipulator can run crowd control, he can be successful. Let's face it: The reason you speculate in such markets is that you are greedy AND optimistic. You believe in a better tomorrow and NEED to make money quickly. It is this sentiment which is exploited by the market manipulator. He controls YOUR greed and fear about a particular stock. If he wants you to buy, the company's prospects look like the next Microsoft. If the manipulator wants you to desert the sinking ship, he suddenly becomes very guarded in his remarks about the company, isn't around to glowingly answer questions about the company and/or GETS issued very bad news about the company. Which brings us to the next important rule.

"RULE NUMBER TWO: IF THE MARKET MANIPULATOR WANTS TO DISTRIBUTE (DUMP) HIS SHARES, HE WILL START A GOOD NEWS PROMOTIONAL CAMPAIGN."

Ever wonder why a particular company is made to look like the greatest thing since sliced bread? That sentiment is manufactured. Newsletter writers are hired -- either secretly or not -- to cheerlead a stock. PR firms are hired and let loose upon an unsuspecting public. Contracts to appear on radio talk shows are signed and implemented. Stockbrokers get "cheap" stock to recommend the company to their "book" (that means YOU, the client in his book).

An advertising campaign is rolled out (television ads, newspaper ads, card deck mailings). The company signs up to exhibit at "investment conferences" and "gold shows" mainly so they can get a little "podium time" to hype you on their stock and tell you how "their company is really different" and "not a stock promotion.") Funny little "hype" messages are posted on Internet newsgroups by the same cast of usual suspects. The more, the merrier. And a little "juice" can go a long way toward running up the stock price.

The HYPE is on. The more clever a stock promoter, the better his knowledge of the advertising business. Little gimmicks like "positioning" are used. Example: Make a completely unknown company look warm and fuzzy and appealing to you by comparing it to a recent success story, Diamond Fields or Bre-X Minerals. That is the POSITIONING gospel, authored by Ries and Trout (famous for "Avis: We Want To Be #1" and "We Try Harder" and other such slogans). These advertising/PR executives must have stumbled onto this formula after losing their shirts speculating in a few Canadian stock promotions! The only reason you have been invited to this seemingly incredible banquet is that YOU are the main course. After the market manipulator has suckered you into "his investment," exchanging HIS paper for YOUR cash, the walls begin to close in on you. Why is that?

"RULE NUMBER THREE: AS SOON AS THE MARKET MANIPULATOR HAS COMPLETED HIS DISTRIBUTION (DUMPING) OF SHARES, HE WILL START A BAD NEWS OR NO NEWS CAMPAIGN."

Your favourite home-run stock has just stalled or retreated a bit from its high. Suddenly, there is a news VACUUM. Either NO news or BAD rumours. I discovered this with quite a few stocks. I would get LOADS of information and "hot tips." All of a sudden, my pipeline was shut-off. Some companies would even issue a news release CONDEMNING me ("We don't need 'that kind of hype' referring to me!). Cute, huh? When the company wanted fantastic hype circulated hither and yon, there would be someone there to spoon-feed me. The second the distribution phase was DONE....ooops! Sorry, no more news. Or, "I'm sorry. He's not in the office." Or, "He won't be back until Monday."

The really slick market manipulators would even seed the Internet news groups or other journalists to plant negative stories about that company. Or start a propaganda campaign of negative rumours on all available communication vehicles. Even hiring a "contrarian" or "special PR firm" to drive down the price.

Even hiring someone to attack the guy who had earlier written glowingly about the company. (This is not a game for the faint-hearted!)

You'll also see the stock drifting endlessly. You may even experience a helpless feeling, as if you were floating in outer space without a lifeline. That is exactly HOW the market manipulator wants you to feel.

See Rule Number Five below. He may also be doing this to avoid the severe disappointment of a "dry hole" or a "failed deal." You'll hear that oft-cried refrain, "Oh well, that's the junior minerals exploration business... very risky!" Or the oft-quoted statistic, "Nine out of 10 businesses fail each year and this IS a Venture Capital Start-up stock exchange." Don't think it wasn't contrived. If a geologist at a junior mining company wasn't optimistic and rosy in his promise of exploration success, he would be replaced by someone who was! Ditto for the high-tech deal, in a world awash with PhD's.

So, how do you know when you are being taken? Look again at Rule #1. Inside that rule, a few other rules unfold which explain how a stock price is manipulated.

"RULE NUMBER FOUR: ANY STOCK THAT TRADES HUGE VOLUME AT HIGHER PRICES SIGNALS THE DISTRIBUTION PHASE."

When there was less volume, the price was lower. Professionals were accumulating. After the price runs, the volume increases. The professionals bought low and sold high. The amateurs bought high (and will soon enough sell low). In older books about market manipulation and stock promotion, which I've recently studied, the mark-up price referred to THREE times higher than the floor. The floor is the launchpad for the stock. For example, if one looks at the stock price and finds a steady flat-line on the stock's chart of around 10 cents, then that range is the FLOOR.

Basically, the mark-up phase can go as high as the market manipulator is capable of taking it. From my observations, a good mark-up should be able to run about five to ten times higher than the floor, with six to seven being common. The market manipulator will do everything in his power to keep you OUT OF THE STOCK until the share price has been marked up by at least two-three times, sometimes resorting to "shaking you out" until after he has accumulated enough shares. Once the mark-up has begun, the stock chart will show you one or more spikes in the volume -- all at much higher prices (marked up by the manipulator, of course). That is DISTRIBUTION and nothing else.

Example: Look at Software Control Systems (Alberta:XVN), in which I purchased shares after it had been marked up five times. There were eight days of 500,000 (plus) shares trading hands, with one day of 750,000 shares trading hands. Market manipulator(s) dumping shares into the volume at higher prices.

WHENEVER you see HUGE volume after the stock has risen on a 75 degree angle, the distribution phase has started and you are likely to be buying in -- at or near the stock's peak price.

Example: Look at Diamond Fields (TSEFR), which never increased at a 75 degree angle and did not have abnormal volume spikes, yet in less than two years ran from C$4 to C$160/share. Example: Look at Bre-X Minerals (Alberta:BXM), which did not experience its first 75 degree angle, with huge volume until July 14th, 1995. The next two trading days, BXM went down and stayed around C$12/share for two weeks. The volume had been 60% higher nearly a month earlier, with only a slight price increase. Each high volume and spectacular increase in BXM's share price was met with a price retreat and levelling off. "Suddenly," BXM wasn't trading at C$2/share; it was at C$170/share.... up 8500% in less than a year!

In both of the above cases, major Canadian newspapers ran extremely negative stories about both companies, at one time or another. In each instance, just before another share price run up, retail investors fled the stock! Just before both began yet another run up! Successful short-term speculators generally exit any stock run up when the volume soars; amateurs get greedy and buy at those points.

"RULE NUMBER FIVE: THE MARKET MANIPULATOR WILL ALWAYS TRY TO GET YOU TO BUY AT THE HIGHEST, AND SELL AT THE LOWEST PRICE POSSIBLE."

Just as the manipulator will use every available means to invite you to "the party," he will savagely and brutally drive you away from "his stock" when he has fleeced you. The first falsehood you assume is that the stock promoter WANTS you to make a bundle by investing in his company. So begins a string of lies that run for as long as your stomach can take it.

You will get the first clue that "you have been had" when the stock stalls at the higher level. Somehow, it ran out of steam and you are not sure why. Well, it ran out of steam because the market manipulator stopped running it up. It's over inflated and he can't convince more people to buy. The volume dries up while the share price seems to stall. LOOK AT THE TRADING VOLUME, NOT THE SHARE PRICE! When earlier, there may have been 500,000 shares trading each day for eight out of 12 trading days (as in the case of Software Control Systems), now the volume has slipped to 100,000 shares (or so) daily. There are some buyers there, enough for the manipulator to continue dumping his paper, but only so long as he can enlist one or more individuals/services to bang his drum.

He may continue feeding the promo guys a string of "promises" and "good news down the road."

(Believe me, this HAS happened to me!) But, when the news finally arrives, the stock price goes THUD! This is entirely orchestrated.

"RULE NUMBER SIX: IF THIS IS A REAL DEAL, THEN YOU ARE LIKELY TO BE THE LAST PERSON TO BE NOTIFIED OR WILL BE DRIVEN OUT AT THE LOWER PRICES."

Like Jesse Livermore wrote, "If there's some easy money lying around, no one is going to force it into your pocket." The same concept can be more clearly understood by watching the tape. When a market manipulator wants you into his stock, you will hear LOUD noises of stock promotion and hype. If you are "in the loop," you will be bombarded from many directions. Similarly, if he wants you out of the stock, then there will be orchestrated rumours being circulated, rapid-fired at you again from many directions. Just as good news may come to you in waves, so will bad news.

You will see evidence of a VERY sharp drop in the share price with HUGE volume. That is you and your buddies running for the exits. If the deal is really for real, the market manipulator wants to get ALL OF YOUR SHARES or as many as he can... and at the lowest price he can. Whereas before, he wanted you IN his market, so he could dump his shares to you at a higher price, NOW when he sees that this deal IS for real, he wants to pay as little as possible for those same shares... YOUR shares which he wants to you part with, as quickly as possible.

The market manipulator will shake you out by DRIVING the price as low as he can. Just as in the "accumulation" stage, he wants to keep everything as quiet as possible so he can snap up as many of the shares for himself, he will NOW turn down, or even turn off, the volume so he can repeat the accumulation phase.

In the mining business, there seems to always be other "area play" around the corner. Just as Voisey's Bay drifted into oblivion, during the fourth quarter of 1995 and early into 1996, the same Voisey Bay "wannabees" began striking deals in Indonesia. Some even used new corporate entities. Same crooks, different shingles. The accumulation phase was TOP SECRET. The noise level was deadingly silent. As soon as the insiders accumulated all their shares, they let YOU in on the secret.

"RULE NUMBER SEVEN: CONVERSELY, YOU WILL OFTEN BE THE LAST TO KNOW WHEN THIS DEAL SHOWS SIGNS OF FAILURE."

Twenty-twenty hindsight will often show you that there was a "little stumble" in the share price, just as the "assays were delayed" or the "deal didn't go through." Manipulators were peeling off their paper to START the downslide. And ACCELERATE it. The quick slide down makes it improbable for your getting out at more than what you originally paid for the stock... and gives you a better reason for holding onto it "a little longer" in case the price rebounds. Then, the drifting stage begins and fear takes over. And unless you have serves of steel and can afford to wait out the manipulator, you will more than likely end up selling out at a cheap price.

For the insider, market-maker or underwriter is obliged to buy back all of your paper in order to keep his company alive and maintain control of it. The less he has to pay for your paper, the lower his cost will be to commence his stock promotion again... at some future date. Even if his company has no prospects AT ALL, his "shell" of a company has some value (only in that others might want to use that structure so they can run their own stock promotion). So, the manipulator WILL buy back his paper. He just wants to make sure that he pays as little for those shares as possible.

"RULE NUMBER EIGHT: THE MARKET MANIPULATOR WILL COMPEL YOU INTO THE STOCK SO THAT YOU DRIVE UP ITS PRICE SHARES."

Placing a Market Order or Pre-Market Order is an amateur's mistake, typifying the US investor -- one who assumes that thinly traded issues are the same as blue chip stocks, to which they are accustomed. A market manipulator (traders included here) can jack up the share price during your market order and bring you back a confirmation at some preposterous level. The Market Manipulator will use the "tape" against you. He will keep buying up his own paper to keep you reaching for a higher price. He will get in line ahead of you to buy all the shares at the current price and force you to pay MORE for those shares. He will tease you and MAKE you reach for the higher price so you "won't miss out." Miss out on what? Getting your head chopped off, that's what!

One can avoid market manipulation by not buying during the huge price spikes and abnormal trading volumes, also known as chasing the stock to a higher price.

"RULE NUMBER NINE: THE MARKET MANIPULATOR IS WELL AWARE OF THE EMOTIONS YOU ARE EXPERIENCING DURING A RUN UP AND A COLLAPSE AND WILL PLAY YOUR EMOTIONS LIKE A PIANO."

During the run up, you WILL have a rush of greed which compels you to run into the stock. During the collapse, you WILL have a fear that you will lose everything... so you will rush to exit. See how simple it is and how clear a bell it strikes? Don't think this formula isn't tattooed inside the mind of every manipulator. The market manipulator will play you on the way up and play you on the way down. If he does it very well, he will make it look like someone else's fault that you lost money! Promise to fill up your wallet? You'll rush into the stock. Scare you into losing every penny you have in that stock? You'll run away screaming with horror! And vow to NEVER, ever speculate in such stocks again. But many of you still do.... The manipulator even knows how to bring you back for yet another play.

What actors! No wonder Vancouver is sometimes called "Hollywood North."

"FINAL RULE: A NEW BATCH OF SUCKERS ARE BORN WITH EVERY NEW PLAY."

The Financial Markets are a Cruel, Unkind and Dangerous Playing Field, one place where the newest amateurs are generally fleeced the most brutally.... usually by those who KNOW the above rules. Just as I have a duty to ensure that each of you understand how this game is played, YOU now have that same duty to guarantee that your fellow speculator understands these rules. Just as I would be a criminal for not making this data known to you, YOU would be just as criminal to keep it a secret. There will always be an unsuspecting, trusting fool whom the rabid dogs will tear to shreds, but it does NOT have to be this way.

IF every subscriber made this essay broadly known to his friends, acquaintances and family, and they passed it on to their friends, word of mouth could cause many of these market manipulators to pause. IF this effort were done strenuously by many, then perhaps the financial markets could weed out the crooked manipulators and the promoters could bring us more legitimate plays.

The stock markets are a financing tool. The companies BORROW money from you, when you invest or speculate in their companies. They want their share price going higher so they can finance their deal with less dilution of their shares... if they are good guys. But, how would you feel about a friend or family member who kept borrowing money from you and never repaid it? That would be theft, plain and simple.

So, a market manipulator is STEALING your money

And what exactly does a MM have to do with how a SEAQ stock is reported?
I accept trades of certain sizes can be delayed and the publication of which will possibly be misinterpreted because of the delay; however, for the average buy or sell it is the software used by websites that determine in which column they fall, not the MMs.

Those nasty MMs always getting the blame when a chosen stock fails to rise or even has the temerity to fall. Funny old thing, but you never see a post blaming the manipulative bastards when a stock goes up! I guess it's human nature to blame someone else rather than accepting responsibility for buying at the wrong time or buying a shit company in the first place.

evening pth - i was passing on information that is all - you mention the software which is interesting but you must have noticed how buys often show as sells and vv - ref seaq surely a simple sw fix can correct this this, many pis actually believe that every sell and buy is correct which it isnt - and yes it works the same way when a stock rises - at the end of the day it is a persons own decision when to buy and not to buy - bad timing can cost very much - l2 is a must - the best most reliable information are rns - and solid research & real news - i for one often contact companies but obviously they are restricted to what they can divulge

but i know you are experienced, the idea was to share that info to assist newbies

ref last sentence - there's nowt wrong with otc! - great prospects ahead - gl

Gibby, I wasn't having a go at you or otc, just a general comment.

There are quite a few reasons why the trades are misreported by the software. If the advertised spread is wide, most trades will be executed within the yellow strip dependent on what price the broker can deal. If the spread is tight and the SP moving quickly, by the time it is reported the bid/offer may have moved. There is no way the software can manage the first aspect without constantly placing dummy trades at different sizes continuously to determine the real spread. The second aspect is impossible to calculate.

pth - cheers - i always appreciate constructive information and criticism - so thanks

have a good evening and profitable day tomorrow - gl

Thanks to you both for the info. I find the most galling thing is the lack of news. I look at company websites also the investment houses to glean anything I can, but it is woefully little. I found otc sometime ago when I noticed large investment houses buying stock so I jumped in at .080p. That was probably a glaring error in trading terms but it paid off. Many have not, HTT is one, I have sat on that a while, even encouraged my grandchildren to buy beach dude wear !!! GPN well Clive Palmer took it over and my money with it !! Subsea sunk without trace!! RAB Still in living in hope!! POL still have high hopes for that!! OXS well what can I say?? And so it goes on. On the other hand if you look at the list of shares I got out of, they are doing very well (with one or two exceptions!!). So boys as you can see I am not one of these "I am doing ever so well" merchants, I am a truthful realist who never puts in what I cannot afford to lose and often do!! But enjoys the game, yea verily!!

Thank goodness there's others like me out there, bb....even got the same handle lol regards bb

i too have similar luck there must be something in the water.!!!!
Alex

hope that 23million trade is a buy@1.6p per share at 1633
Alex

lol dudes - not everything i buy comes right either - but to be honest being doing quite well especially last few months

having 2 bbs is gonna make me head explode!! lol - i can see i will get confused!! but beebusy sounds like you been pulling many short straws the kind of guy who can fall into a bucket of tits and come out sucking his thumb!! lol i am sure you must have had some success but as you say never put in what you cant afford to lose

otc - i have topped up several times here now - and although a lack of news can be annoying i see that as chance - fundementals no different here - just a game of patience really at this stage - mega boost that fund raising - real good news

a real shocker today was rnvo - never expected that! potentially i could have lost big time there but because of newspaper coverage sending it skying i didnt bother - what a fluke that was for me! i must of fell into a bucket of turds that day and come out smelling of roses!! as it was saw a great opportunity there but only made beer money - did better on ocdo - obviously me long termers (other than otc, sres so far) did well today

anyhow gl

what a week? waiting for the otc bounce that never came! eygpt good luck to them, when you hear some of the horror stories re police, I think there will be a period of readjustment which will include some retribution, hopefully the people will find themselves a leader who will return the countries resources to the common good, but it will take a while, councils taking the goverment to court and winning!! hurrah! and eastenders still havent given that bloody baby back!!?? the times we live in eh! anyway boys heres to a better week next week (on that note forget valentines day at your peril) you have been warned, adios

certainly was a week! ref egypt i sincerely hope it is not out of the frying pan and into the fire - lets hope for the best - eastenders hardly watch it - but heard the storyline - dragging on a bit isnt it?! roll on next week - cheers

just back from 4 days without computer and a i-phone that refused to connect to the stream!! strangely I felt somewhat refreshed??? Then this morning its back to the fray, a quick glance at otc !!!!!!!!!!!!!!!?????????????????? now where did I put those bad boy pills???

lol &

note out.... seymour pierce start their broker coverage of otc with a price target of 3p.

well I have hung in there and even bought yesterday .0156p which seemed like a bargain to me, RAB seems to be heavily engaged in a buy back action, but OTC is going places. I am so confident that I am off to Cyprus March 2nd to view my retirement villa, keep it quiet though, ere in doors still thinks she is going to Provence !!!???

1.58p +0.70p
New broker note from Optiva Securities out with a share price target of 3.39p representing a substantial potential upside of doubling the price from the current price of 1.58p >>>>>>>>>

" A number of significant price enhancing newsflow catalysts could be announced within the next 12 months including details of the scoping study, exploration drilling results and resource upgrades. There is also potential for new project acquisitions to be added within the highly prolific gold belt that runs from Ortacs Kremnica gold project in Slovakia through central and south eastern Europe. With Ortacs 11.74m cash deducted from its market cap, the market is essentially valuing the Group at only US$35.6 per ounce of gold equivalent JORC resource. Considering the potential close time frame to production and amount of resource in the mine ready Measured and Indicated JORC categories this valuation is simply too low. Any positive short term newsflow event within the next two months could therefore lead to an immediate bounce in the stock."

lol!!

BRIEF-RESEARCH ALERT-Seymour Pierce starts Ortac Resources with buy

Published: Friday, 18 Feb 2011 | 1:29 AM



Feb 18 (Reuters) -

Ortac Resources Ltd: * Seymour pierce starts Ortac Resources Ltd with buy rating;

target price 3P For a summary of rating actions and price target changes on FTSEurofirst 300 companies

--------------------------------------------------------------------------------

and gibby rating 10p + - strong buy!!

lol

kerrrrchinnnnngggggggggggggggggggggggggggggggggggggg

Took a nice profit from DAN today and got into OTC, looks v/promising in the nearish term.
2517

paranoid today, do you ever get the feeling that there are forces at work behind the scenes??

2517george - well done on profit - and agreed - also i seem to remember more news here not that far away here - gl

bb - always - lol

good read here: http://www.ortacresources.com/documents/SeymourPierceInitiationofCoverage18.02.11.pdf

the good news keeps rolling in here dudes - another ii stake building

kerrrrrrrrrrrrrrrrrrrchinnnnnnnnnnnnnnnnnnnnnnnnnngggggggggggggggggggggggggggggggggggggarooooooooooooooooooooooooooooooooooooooooooo

dont forget sres while still cheap - wont be that cheap forever!!


Ortac Resources Ltd
Holding(s) in Company
RNS Number : 6095B
Ortac Resources Limited
22 February 2011



Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration

22 February 2011

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 18 February 2011 that following an acquisition of ordinary shares in the Company on 17 February 2011, Gartmore Investment Limited is now interested in 162,166,667 shares, representing 7.03% of the issued share capital and voting rights of the Company.



**ENDS**



For further information please visit www.ortacresources.com or contact:

Vassilios Carellas
Ortac Resources Ltd
Tel: +44 (0) 20 7440 0646

Charles Wood
Ortac Resources Ltd
Tel: +44 (0) 20 7440 0646

Roland Cornish
Beaumont Cornish Limited
Tel: +44 (0) 20 7628 3396

Rosalind Hill Abrahams
Beaumont Cornish Limited
Tel: +44 (0) 20 7628 3396

Jeremy Stephenson
Seymour Pierce Limited
Tel: +44 (0) 20 7107 8000

Stewart Dickson
Seymour Pierce Limited
Tel: +44 (0) 20 7107 8000

Jeremy King
Optiva Securities Ltd
Tel: +44 (0) 20 3137 1904

Jason Robertson
Optiva Securities Ltd
Tel: +44 (0) 20 3137 1906

Hugo de Salis
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177

Lottie Brocklehurst
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177

hmmmmmmmmmmm! Have Gartmore has part of an ISA with Fidelity.

My durn mule is getting hungry!!

bb - it must be skeletal by now!! hope you are well..... & from the other side.....an overview which i think is a little on the low side....value wise...

'Summary

- "We are looking to grow within Slovakia, as well as look to the wider Eastern European region. We have a growth strategy of building up a couple of assets and then move them up the curve towards production"

Main current project - Kremnica Project

- Gold and Silver resource located at Kremnica.
- Raised 8.4m in Feb 2011 to take to next stages
- "the Company recently announced the completion of the updated JORC
Code compliant resource estimate for the Project of 1.1 million ounces of gold equivalent of which over half is in the measured and indicated categories."
-"Ortac now intends to carry out additional drilling to target areas of the Project that have been estimated but not classified and to convert further ounces into the higher confidence categories."
- "planned drilling campaign targeting 2 million ounces of gold equivalent (Au Eq)"
- "publication of a preliminary scoping study during the second half of 2011", "preliminary scoping study that should provide an outline for bringing the project into production"
- Ortac benefits from being located in a geo-politically low risk country and within the confines of the European Union.

Other Licences

- 9 other licences in Slovakia
- of this Zlata Bana has an existing non-JORC compliant assessment, that could potentially be converted to a JORC compliant version.
- the Lutilla licence adjoins the Kremnica Licence and is of interest due to proximity and potential for further gold/silver finds.
- In addition there is the Rio Paranaiba Iron Ore Project. In February 2011, the Company announced positive results from a ground magnetic processing, interpretation and modelling exercise. http://tinyurl.com/6bnon8l "intention to fund this independently through a farm-in or joint venture arrangement as the development the Kremnica Gold Project in Slovakia remains the principal focus of the Company.
- OTC own 500,000 shares in VGM

iii interview with CEO...http://tinyurl.com/649okab
Seymour Pierce Note.. http://tinyurl.com/65lj8ru
Optiva Note 2............. http://tinyurl.com/5tv7bv2
Optive Note 1..............http://tinyurl.com/48hpeb5

Kremnica Project.........http://www.ortacresources.com/kremnica.aspx
Latest JORC...............http://tinyurl.com/4jrc2b9

Map of other Licences..http://tinyurl.com/6dpwmxz
Latest Accounts..........http://tinyurl.com/66amgae / http://tinyurl.com/4aufw6j


Some speculative reasons to hope for a future increase in shareprice include:

- ii's already heavily invested so good sign
- claim of oversubscribed placing means possibly more ii's want to buy
- increase in data from drilling offers potential for increases in measured and indicated category
- potential for actual new oz's established from the drilling to materialize
- flight of money to safe locations
- Possibility for VGM or other to buy-out OTC - note that this is not based on announcement or rumours, but instead on a speculative assessment of company goals/aims/style, (and VGM and OTC directors cross-over)
- potential for permit to build mine to be easier to obtain now due to getting rid of cyanide in processing and goal of smaller footprint mine
- unknown factor of possible deep drilling finding deposits and relative use of underground mining vs open pit mining
- mine is also a Silver mine, if this is noticed more widely then possibility of more interest in OTC in future
- presence of Kremnica Mint adding to intangible PR assets if used well
- along with historical connection as main mining town of the Austro-Hungarian empire !

A current valuation using Edison like method

GOLD.........Oz.........worth, m
Measured...96000........30m.....1.2 p
Indicated....400000......26m.....1.1 p
Inferred......443000......1m.......0.1 p
TOTAL........939000......57m....2.30 p

SILVER .......Oz.........worth, m
Measured....790000......8m......0.3 p
Indicated....3353000.....21......0.9 p
Inferred......3284000.....2m.....0.1 p
TOTAL........7427000....32m....1.29 p

GRAND TOTAL = 3.6 p
After a 34% discount = 2.4p

at 50:1, Ag:Au, total ounces = 1.1 moz Au eq

The drilling campaign aims to increase total ounces and convert more ounces into higher classifications (measured, indicated). Hence potential for increased valuation.

(using fully diluted value for no. of shares as 2,471,979,020; $: 0.6177, Au $1410/oz, Ag $33.47/oz, giving edison values $500.86/oz, $106.67/oz, $4.69/oz for Au and $16.86/oz, $7.58/oz, $1.08/oz for Ag)


as always do your own research applies before investing.'
'

just returned from that hugh building site which is now Cyprus!! now shares in a Cypriot concrete firm would do well ?? otc continues to disappoint !! any rays of sunshine on the horizon??

At this mornings price now there is gold in them thar hills!!!!!!

Friday had a large buy volume, this morning seems to have started well +.06. I supect we may wobble a bit as profit taking kicks in but can see no reason for S.P not to regain its 2p status and of course barring nature, politicians, wars, labour unrest!!!! onwards and upwards.

it all seems very static?? and as you know, no news is not good news in this game!! This mornings price is in my buy zone but I feel reticent. I think its a hold. Any arguements?? for or against.

Had a change of heart and bought,fickle i know but it seems to have reversed the trend!! Did the sums and they do seem to be very cheap???

hi bb - cyprus nice place
otc not so nice - i had high hopes and still do - just going to sit it out now
gl

heard not much in q2
more like june time
but good stuff ahead
if i could sus bottom sp would buy more but thzt is hard
i expect 4p 12 months or less

The old crystal ball playing up again??

lol

Bought in today.

Nice update today sp should be flying may be tomorrow.

http://moneyam.uk-wire.com/cgi-bin/articles/201104071000014909E.html

Now it's flying 12% up that will do for one day.

No it won't! I'm only at break even!

HC

Plenty to come here you will soon be in profit. I bought in @ .1 36

While down in Saint Emilion cruising the wine grottos, I decided to severe all communications and concentrate on the job in hand.What folly!! It would appear that I missed a great occasion when Ortac rose from its slumber, alas it was short lived, like my visit to France. Would somebody please go out and give my mule a good kick in the arse to get some form of life out of it ??

Hmmm!! There are stirrings in them thar hills?? Leave my mule alone i may need it.

Ortac Resources Ltd
Kremnica Gold Project Progress Report
RNS Number : 0516F
Ortac Resources Limited
18 April 2011


http://moneyam.uk-wire.com/cgi-bin/articles/201104180700060516F.html

Thanks Driver. Thats a move in the right direction.

will be buying some more here about middle next month - result rns due before end h2 2011 - expected solid reserve increase

topped up some today - some more mid this month - be rude not too! lol

roll on 100% profit min by end may!!

That must be your half mil buy this morning then gib, the only buy....2.9mil sells otherwise......not sure about this one.,.

lol - some news from the other side - slightly dated but desperate times = desperate measures!! joking aside otc will come good - news due soon..................

Vassilios Carellas Sets His Sights On Gold In Slovakia With Ortac Resources

By Stockopedia on March 18, 2011 | More Posts By Stockopedia | Author's Website

Subscribe by RSSEmail/Share Page Buzz When Vassilios Carellas resigned his position as managing director of Kryso Resources (LON:KYS) in May 2009, he jetted off to enjoy his first summer holiday for 15 years. However, shortly before he left, David Paxton, the chief executive of Vatukoula Gold Mines (LON:VGM) had a word in his ear about a potential new project. On his return, Carellas had barely unpacked his suitcase before finding himself back on a flight, this time to the historically rich volcanic gold fields of central Slovakia. When he got there, he liked what he saw.

By September 2010 the stage was set for a series of deals that involved private company Ortac Resources acquiring the Slovakian gold assets of TSX-listed Tournigan Energy (TSX:TVC). The company then completed a reverse takeover of AIM cash shell Templar Minerals. Ortac Resources (LON:OTC) , which kept its name, took on Templars modest iron ore assets in Brazil but, more importantly, secured the highly prospective Kremnica gold deposit in Slovakia.

Within days, Carellas brought in Snowden Mining Industry Consultants to re-work all the old data and launch a scoping study at Kremnica, where a resource of around 760,000 ounces of gold was already in place. In January, that assessment confirmed a JORC Code compliant resource of 1.1 million ounces of gold equivalent but Carellas remains keen to boost the resource even further. With 8.4m raised from investors in February, further drilling is planned this year and the company is looking closer at how production from the project will eventually work. In the mean time, Carellas has his eye on building out Ortacs presence in Slovakia, perhaps with acquisitions, and taking the companys resource base towards 2 million ounces.

Vassilios, how did events unfold in the lead up to bringing Ortac to AIM?

Ortac had been in Slovakia for six years prior to the reverse takeover. It had a number of exploration properties in the east of the country and it was basically in the right place at the right time in terms of Kremnica. Tournigan were seeking to cut back on the number of projects they had and sold off a uranium exploration project in the States, a gold project in Ireland and the Kremnica gold project. They have renamed themselves from Tournigan Gold to Tournigan Energy and are now focused purely on their uranium assets in the east of Slovakia. Ortac then made the move from a private company to a PLC through the reversal into Templar Minerals. Templar still has iron ore rights in Brazil and we have done a bit of work on that now. But we are looking to farm that out and we have got someone who is quite willing to run with it, so probably within the next three to six months that should be a separate entity with Ortac retaining a holding.

What is the attraction of Slovakia and the Kremnica project?

This region of Slovakia has been mining gold for 2000 years. Back in the 14th and 15th centuries the central Slovakian volcanic field was considered to be one of the leading gold producing areas in the world. Mining at Kremnica dates back 1000 years. You had old timers there chipping away at the high grade veins but what you have is a huge vein system which is up to 100 metres in width. Obviously some of the high grade bits have been taken out in places but the drill holes have shown there are a lot of sweet spots in the ore body. You are sitting with a 1.5 to 2 gram resource, outcropping on surface that is amenable to open pit mining. There are not many deposits like that these days and a lot of them are underground, so from that point of view we are quite fortunate. The infrastructure is very good, the main road between Poland and Hungary runs through the project area, there are power lines running overhead, there is water and there is an aluminium processing plant 13km to the south of us. So all the infrastructure is there, all the engineering workshops and fabrication and services, all the services that you need to run and operate a mine are there.

What has been happening at the project in recent years?

Historically there was a small processing plant there but after the split of Czechoslovakia there was a privatisation programme and a local businessman privatised the asset and stripped the plant and sold everything. The last mining activity took place on surface in 1991 and that was very small scale. Between 1991 and 2007 there were two companies before us and between them they spent about 17m exploring the project. Prior to that the Czechoslovakian State probably spent easily $10m on exploration, so you can say quite comfortably that $25m-$30m has been spent on this project to date getting it to where it is today.

What are you immediate plans for the project?

Well weve got the money now. We came out of with a resource update in January and what it has shown is that there are areas in the resource that have been estimated, so in other words you have blocks with grades in it, but for whatever reasons Snowden felt that there wasnt enough data so they havent classified it. So the programme is now to drill about 5000 metres, which is basically an in-fill and exploration drill programme. What we anticipate ending up with is a resource of about 1.5 million ounces, which is what Tournigan had in the past and it is what we are seeing in the model, it is just that the model hasnt been classified. We hope to have that drilling completed by the end of this year and then come out with another update and then we should have further ounces in the higher confidence categories as well as a larger resource. So thats the immediate plan for this year.

We are also in the process of completing a scoping study on the back of the current resource Is this a project that Ortac is fully prepared to take into production?

Ideally but obviously along the way if an Eldorado Gold (EGO: 16.78 -1.39 -7.65%) or a European Goldfields (LON:EGU) likes what we are doing and thinks that there is value in it for them and they can make an offer to shareholders that we cant refuse, then well do it. But we have got a project director who has brought mines into production before and he is driving the scoping study. If it does get to the point where we need to raise finance and get into production ourselves, we can certainly do it. Its not complicated; you dont have any infrastructure challenges.

Are there other mining operators close to where you are in Slovakia?

There is a little underground mine about 15-20km to the south-west of us. Emed Mining (LON:EMED) have their Biely Vrch project about 30km to the south of us. In the east of the country you have got metal works, U.S. Steel (X: 47.48 +0.69 +1.47%) are in there, Tournigan have got their uranium projects. There is a Canadian company called Global Minerals (TSXV: CTG), and they have got quite an interesting antimony project there as well. There is also quite a big coal industry. So there is activity but not a huge amount of activity in terms of real mining in the precious metals sector, the reason being that prices were so deflated. When Czechoslovakia split back in the 1990s metal prices were quite low. The State was continually funding these operations but some of them were just not making ends meet and then they started privatising them just to reduce the burden. So now other companies have come and picked them up and developed them and are moving them forward.

What sort of response did you get from the market when you raised funds in February? Was it a challenging deal?

No, we were over subscribed, there was a lot of interest. I think the market is looking for the next European Goldfields, looking for a company that is picking up assets and that is the sort of story that we would like to emulate. We want to use this asset to grow within the region, use it as a stepping stone to other assets, bolt on another one or two advanced stage projects and then have various projects moving up that curve towards production. Hopefully then youll get the attraction in the market.

Have you seen many potential targets or future opportunities?

There are a couple out there that are quite interesting. Generally speaking, certainly in Europe there is a lot and not just in gold or precious metals. There are areas in Europe now that are only just opening up that have been closed to exploration companies because the governments didnt see it as something that was necessary. Now the EU has got a minerals directive to encourage countries to actually start using their own resources. They are obviously realising that the Chinese are squeezing the market in terms of likes of rare earths and antimony. It is going to take a while for some of these countries, particularly the likes of France and Germany and countries where they have gone through that cycle already and have populations that are very comfortable with the environment. Countries like that will find it quite challenging to actually go back and start drilling holes. It is going to take time but we are seeing a much more positive sentiment towards the resource sector in Europe.

In the mean time, Ortac does have other exploration licences to keep it busy. Among those licences, which are the most significant?

Yes, we have got projects in eastern Slovakia. The most advanced is a project called ZlatBaňa which again lies in volcanic fields and that has a historic resource of somewhere between 300,000 to 500,000 ounces, depending which cut off you use. I suppose 5-10 years ago that would have been considered a marginal project but today, with prices the way they are, it is potentially of value. Once weve got our Kremnica project under way we will start focusing on this. The data is there, it is just a matter of putting the data into a computer database and generating a model on that. We might drill a few holes just to verify the interpretations and on the back of that we could then have a potential resource of 500,000 ounces equivalent for that project. All things going well, by the end of this year, early next year potentially we could have 2 million ounces under our belt, 1.5 million ounces at Kremnica and another 500,000 ounces here, so we could potentially double our resource base.

Finally, how costly is this going to be for Ortac to develop and what factors will ease the transition towards production?

It will be no different to anywhere else in the world. In terms of shipping it will probably be cheaper and in terms of speed it will probably be quicker because you dont have to set up huge workshops, everything is outsourced. So it is just a matter of building the plant, you dont have to worry about building power lines and roads and water. Plus, a major asset is the skilled workforce. Youve got skilled labour, good infrastructure, the services are there, there is no exploration risk and the deposits are explored. It is not a matter of if, it is just a matter of when.

Vassilios, thank you for your time.

Topped up at this mornings starting price and was rewarded with a modest rise but have one eye on the banks at the moment so my mule may have to rough it for a while!!

Don't think you'll get anyone excited here with a chart heading south.,.

Still holding here no worries

no worries here dudes - mms usual tricks buys showing as sells yet again - i just had a little top up @ 1.22p - shows as a sell - details below - its buy one get one free and that is understating the true value - if you can spare the cash buy imo - gla

Buy
ORTAC RESOURCES LT ORD NPV
1.22p
120000
1,458.00
7.29
09/05/11 10:25:57

this will kerrrrrrrrrrrrchinnnnnnnnnnnnnnnnnnnnnnnggggggggggggggg soon

yeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

sitting on millions of these gold tickets!!! will be one of my easiest profits ever although also one of the most tedious!! LOL

Better hurry up my mule is getting painfully thin!!

lol - mine is skeletal!

hope driver took profit at 2.60.,.

yes i will ditto that - good to see people making profits - tough at the moment - but lots of bargains too as i am sure you are aware (excusing my xel this morning!) but that will come good too imo just tied up some cash unless a bounce later today - i like pace at the moment - should bounce if it dont my crystal ball will be heading out the window - bet it wont see that coming - lol! gl

Balerboy

Wasn't in at 2.6 I bought at 1.36 and still happy to hold.

These first appeared on my radar at 0.80p and a lot of big boys were buying in, so I jumped in then took a profit at 2.4p then as they fell I have been buying back in but probably should have waited as they are showing my biggest book loss at the moment. That crappy cyrstal ball that Gibby sold me just doesnt work, and further more if you shake it snow flakes appear!! Anyhow am holding as er indoors would die if she knew how much of her holiday fund is firmly planted in central europe!!!!

bb

Never let on to er indoors!!!

bb - i have a special offer at the moment on some water damaged umbrellas if interested!

ditto that ref er indoors!

Its so nice to know that there are still some good honest crystal ball and water damaged umbrella salesmen out there, restores ones faith in the human race lol

bb thanks - we aim to please! lol
have a good evening

Wonder if they'v left a few 0s of that 10 trade??? otherwise 1.26p LOL..

from the other side today:

As outlined in the RNS announcement of 18 April, the Company has commenced an exploration programme on its Kremnica Gold Project in Slovakia. This drilling campaign is targeting areas of the deposit where there is currently little or no information. Results from this, along with the additional geological and geotechnical data, should allow for an increase in the current JORC compliant resource of 1.1 million ounces of gold equivalent, in addition to upgrading additional ounces into higher confidence Indicated and Measured categories.

This exploration campaign is advancing and the Company will announce an update and preliminary results from this drilling when appropriate.

In addition to this drilling campaign, the Company's Scoping Study at Kremnica is also progressing well, and the Company expects to be able to announce the publication of this report in H2 2011.

If you require any additional information, please do not hesitate to contact me.

Best regards,

Susie

Susie Geliher

St Brides Media & Finance Ltd

Chaucer House

38 Bow Lane

London EC4M 9AY

T: +44 (0) 207 236 1177 | M: +44 (0) 7976 749 561 | F: +44 (0) 207 236 1188 | www.stbridesmedia.co.uk

ok I have topped up again!! now incase I have to send the boys around its Gibby, 2 Railway cutting Villas East Cheam ???

Well here we are another day in paradise,watching waiting, avoiding ere indoors. Which reminds me of poor quasimodo stood in Notre Dame lamenting his deformed shape and his inability to woo Esmerelda. In his despair he raised his eyes to heaven and wailed " Oh Lord, give me a d-ck that touches the floor" A ray of light shone down on him and both his legs dropped off!!! I know just how he felt??

Any of you boys with well tuned antennas heard anything about this bunch?

Nope. A drilling update from it's Slovakian project would be nice and would put investors at ease, but perhaps no news is good news?

beebusy - just seen your 172 - glad to see no hard feelings! lol - hope you are well apart from the otc sp currently!! i may top up again today - the only thing that is pretty certain is that news is due h2 as per last rns which should produce an upgrade -it better not be an xel repeat!!! had to take high risks when it tanked that day to recover my losses then trade to end up in profit again! that was pretty tough! but h2 news is due so could literally be anytime between now and end of june - and if the whisphers are correct i really would not want to be outta of otc when that rns arrives - could double or more in the blink of an eye

p.s. i had to move ref 172! lol

hc - news h2 is the only cerainty - today / next week week after but we are getting near hence my thoughts to topping up should fly off this sp level

keep an eye on sres too - yesterdays rns not the one wanted but a bonus - i dont think people realise the scope of that rns fully and it was unexpected - that stuff sells for avg 225t / tonne

gla

keep an eye on sea - not far away there - buy on the rumour definitely there and move when news comes out soon imo

Hi Gibby, thought you had moved as the boys spent their time with sweet nellie at no3 instead!! Took another punt today @ 0.0184. Sres looks good but thought i was the only one to read the rns as there was very little response? but as always you have to make % reduction to allow for red herrings and plain untruths!! I would love to say that er indoors is going back to Greece this summer but the way its shaping up the nearest she will get is cypriot joes kebab shop down the road!!Mind you he does have an interesting slant on british politicians?? lol!

Thats more like it, a little rally after I bought more in, usually the other way around!!

Topped up on the rise.

bb - yes nellie did mention it to me - she likes them!! a lot!!! lolgood to see your punt paid off already much more to come imo - added some more myself at these near give away prices with news so near at last - sres - i was surprised the temporary rise was that much and not a reverse! i left what i had didnt add or sell there - er indoors - you sure know how to treat a woman - lol!! cypriot joes kebab shop - lol - no expense at all spared there then!! what do you do when you leave there after getting your grub - wipe your shoes on the way out?!!! politicians - yep i am sure she does - have a very good evening

i am sticking with otc - you know it makes sense!! yeeeeehaaaaaaaa

driver - good man i am sure you will not regret that - gl

would have been better on the drop though of course - have a good un

Her indoors cottoned on just how much of the family fortune is riding on gold in them thar hills and we have now booked a trip on the Queen Mary 2 in July to keep the happy household on an even keel and to ensure I do not find foreign bodies in my tucker. Poverty will not sit lightly on her shoulders so if the Otc report does not hit the spot don the black armbands for me!!!!

Could need inflateable arm bands come july.,.

I will be paying close attention to the lifeboat drill and have already placed an order for neoprene underwear!!!

beeb lol 183 - oh dear ref her indoors - i would not want to get on the wrong side of her!! and neither would you i imagine!! lol - enjoy the QM trip - mind you if otc report bad i have a feeling you maybe chucked over board head first!! does she have good insurance on you?! lol either that or you'll be washing the dishes - how many thousand passengers on that liner now?!

baler - lol 184 - hope you havent made the same mistake as beeb with his misses! lol - i'll bring you both grapes in the 'ossi!!

seriously i have every confidence in otc - couldnt help me self today and had another little top up at 1.18 - not much more but expect it to multibag along with the rest

gla

Gibby i must point out.....I don't know busyB 's mrs....though I'm sure she's a lovely person but making a mistake with her....defo not....but my phone number is 0034868646766899 and am always available :)

lol - i hear she has tracked down the address that matches that #! beeb is your mrs on the way to spain?!

some nice 1M buys just drifted through

roll on 3p or so spike in the not too distant - yeeeeeeeeeeeeehaaaaaaaaaaaaaaaaa!!

The niggle for me is, with the sp at rock bottom why isnt there more director buying??? Er indoors is off to Chelsea Flower Show today leaving me a small salad to relieve my ample waistline so I can get into my D/J.

hope she put a lock on the food cupboard too then.,.

no need with the portfolio looking as it does cannot afford food lol

beeb - enjoy the rabbit food! lol

at least you are not wearing someone elses old coat tied together with a dirty bit of old string swigging out of a bottle of meths watered down with a bit of tennants super & super strength cider which is cunningly disguised as something else in a brown paper, bag rummaging through dustbins for your food yet - hear a better class of bin outside tescos but watch there security cameras dont clock you grabbing the soiled out of date food!!! lol

seriously though - dont worry about the pf - that will get its fatness back soon enough

shame to say it but none of us know whats coming. Its also true to say that a lot of miners have toiled over this ground in the past and if there is great riches there I would have thought one of them would have twigged? I have come to the conclusion that these companies are set up on a wing and a prayer,not forgetting fine words, to get silly sods like me to part with our hard earned pennies. I would of course like to be proved wrong this time. Surveying the wreckage that was Falkland Gold, The shambles that is Oxus I very much doubt the Kerrrcccchhhhhiiiiiinnnnng but wait stoicly for the Keeerrrppplluuunnnkkk!!!!!!!!!!!!!

bb u r not wrong!

beeb - your enthusiasm is clearly not over flowing!! halifax you are not helping!! lol dont do anything silly - no i dont mean rope and chair but sell up - if you can afford to hang on and wait do it - remember no pain no gain - especially with otc!! remember the fundamentals - otc has already been over subscribed and under pinned by iis at more than today's sp - it is just AIM - never will be like the main markets - talking of which do you remember the banks, and branded names like woolworths, hmv, jjb et cetera - otc will do better than all of them and will multibag off this sp level - dont get shaken out would not want to see you lose your money - failing all that pop down the pub and get mullered!! lol

cheers you have got her indoors - and i am sure she is nice if a tad fiery!! lol

have a good evening

by do better than all of them - i mean % increase from current sp - and will not go bust like woolies et cetera imo

I have no thought of pulling out but even I have to admit the last 5 years has been pretty grim. Ere indoors came back from Chelsea with a 9 crt gold bee!!! and very smart keyring for my yacht. I love Fridays as 1630 I can turn off my screen and forget it all while I go sailing. I think its time to retire??? Had a little punt on ECR early week ?? Ere indoors has her gander up as I gave the gardener who cuts our hedge a good stiff brandy to steady his nerves and the hedge looks like he cut it from the deck of a rolling boat!!!

Are you sure it's not a copy of your mrs laying on the grass behind him getting a sun tan all over...............just a thought.,.

You been at the lady chatterly again havent you?? Mind you she is over 20 years younger than I and a tad frisky at times!! Hence the brandy!! But I am sorry to say the lusty gardener is in this case not, he has one tooth in the middle of his mouth and less hair than me!! and the brandy I gave him was to enable him to climb the giddy height of two foot off the ground?? And if ere indoors walked by starkers with a garden rake protruding from you know where he wouldnt notice.But Damn it I like the fellow, what ever subject you dwell on his response is much the same " Durn, Gwan, Naw" which simplifies life amazingly.

beeb - i like the idea of sailing - nothing better peace and calming unless you sail into a typhoon!! lol - dont worry ref err indoors passion for buying gold - she can buy some made from otc gold soon!! gardener - lol - perhaps not a good idea to give him/her a brandy if at the top of a ladder lol! so it looks like it was cut from the deck of a rolling boat this time - so an improvement on his last effort then?!

baler - so she managed to contact you then!!! ref the tan!

beeb your gardener - not like the character in 2 ronnies sketch at the opticians who is as blind as a bat and has a conversation with a coat stand? might explain the hedge - or maybe the he's the guy in specsavers advert who cut down all of the telegraph poles instead of the trees! still nothing wrong with simplyfying things sounds ok to me

btw got me some more otc this morning at 1.12 which was the same as the sell price!! used profits from rrl day trade - yeeeeeeeeeehaaaaaaaaaaaaaa

was not a huge amount but when otc multibags...........

turn off and went down to the boat put on her smart new dodgers,arrived back to find somebody up there had got fed up with my whinge and otc has had a little rise which should please you gibby??

Blue water boat then beebusy? You don't own a premiership football club by any chance? ;o)
None of us are going to get rich with OTC atm. Drilling news will be the only motivator, imo.

yep always happy to see a rise even if small...lol

this is understated imv:

Kremnica is a picture postcard town around 100 miles north-east of the Slovakian capital Bratislava.

It is home to one of Europes oldest mints, dating back to 1328, which hints at its illustrious past. However its secret is buried in the tree-lined hills that form a stunning backdrop to 5,700-strong settlement.

For Kremnica is the golden heart of Europe the source of 4 million ounces of the precious metal.

The mining industry there dates back to the 9th century, and the quality of the gold unearthed made it the ideal material to be fashioned into ducats and florins produced by the towns mint and used by the ancient Austro-Hungarian empire.

Hoping to revive the Kremincas former glories is AIM-listed Ortac Resources (LON:OTC), which is currently developing a mine near the town.

Its gold project there is well advanced, so there is little or no exploration risk, and it has a 1.1 million ounce resource which will in all likelihood double in size after a period of exploration.

And analysts say initial gold production could be underway as early as 2013. Not just that, the company has around 10 million in the bank, which means it is fully-funded through to the bankable feasibility in the next two years.

With this in mind, it is puzzling to see the shares have drifted down almost 50 percent since the start of the year.

The sharpest fall came in January when the company posted a revised resource estimated compiled by the independent consultants Snowden Mining Industry Consultants.

While the overall size of the resource increased by over 40 per cent, the amount in the measured and indicated category fell by 6.5 per cent. This seemed to spook the market.

The company announced in April that it had commenced with a 5,000metre drill program to expand and improve on the existing Snowden resource with a view of publishing an updated resource statement post completion of this drill program.

This will supplement the estimated US$24 million that has already been poured into a drilling programme by Tournigan,the projects previous owners.

Once we do the drilling we should see a restatement of resource, probably at a lower cut-off grade, which should increase the ounces, Ortac chief executive VassiliosCarellas told Proactive Investors.

And then you will see more ounces back into measured and indicated category. The important thing here is you will be able to take this resource to a bank if you need to and not have it thrown back to you.

In the meantime there will be regular updates on progress. And there is plenty to go for as current 1.1 million ounces is based on little over a kilometre of a 6.5 kilometre known strike.

Hence the companys two-million ounce target looks achievable, saidAsa Bridle, analyst at City broker Seymour Pierce in a recent research note.

The company is in the process of compiling a scoping study on the project which is expected to be published by late summer or early autumn, which will be followed by the commencement of the bankable feasibility study.

Toronto-listed Tournigan was planning an open-pit operation with annual output of around 80,000 ounces a year, and a capital cost of around US$120 million.

Carellas seems keen to carry the community with him, and he is clear that no decisions have been made by Ortac on the scale of the mining operation at Kremica and neither will there be without close consultation with all the relevant stakeholders.

The location, meanwhile, brings with it a number of big advantages such as Slovakia has a skilled workforce, low taxes and a backdrop of political stability, which is more than can be said for some of the more fashionable new gold addresses in Africa.

The current share price values Kremnica at around US$30 an ounce in the ground, which is a significant discount to its peer group.

Seymour Pierce reckons Ortac is worth closer to $126 ounce of gold in the ground. Including the cash on the balance sheet and stake in fellow AIM listed gold play, Vatakoula, this adds up to a 3 pence a share price tag (current price 1.2 pence).

A promising play like Kremnica in a stable EU and NATO member state has strong appeal in our view, analyst Bridle adds.

Optiva Securities, meanwhile, values Ortac at 3.39 pence based on a net asset value for the project of US$90.9 million.

The company also owns in the Rio Paranaiba iron ore project in Brazil, which it is in the process of divesting, though it is also looking at acquisition opportunities in the region.

So these are exciting times for Ortac, which makes a mockery of the recent share price movement, particularly with a series of potentially value-enhancing catalysts in the next 12 months.

Optiva analyst Jason Robertson concludes: Considering the potential close time-frame to production and the amount of resource in the mine-ready measured and indicated JORC categories, this valuation is simply too low."

BOTTOM HAVE BEEN REACHED FOR THE MOMENT BEING

Large trades are going on as the share price is rising

1.19p is a good price to move in

yep we are getting near to news - another small step north today - roll on somwhere between 2.5 to 3p not too distant!! then beyond thay 7 to 10p within 12 to 18 mths multi bag!! do the maths & dont forget the iron - no wonder the recent placing was over sold!!! kerrrrrrrrrrrchinnnnnnnnnnnnnggggggggggggggggggggggggggggg

The new appointment went down like a lead balloon, I feel duty bound to buy a few more but the patience is wearing a bit thin. Gibby is busy fiddling away as Rome burns. If a reversal does not appear I think I will banish it from my stock list and peep again in August.

Very apt way of descibing gibby lol. Like him wasn't by comp, when I should have got out of SEA so not listening to him any more.....yyyeeehhaaa.,.

Commencement of Geophysical Survey at Lutila Gold Licence
Ortac Resources Ltd, the AIM listed exploration and development company focussed on precious metal projects in Europe, is pleased to announce the commencement of a ground based geophysical survey over the northern section of its 63 km sq Lutila Exploration Licence Area ('Lutila') to generate gold mineralised targets for follow up drilling. Lutila is part of the Company's flagship Kremnica Gold Project in Central Slovakia and is contiguous to the Kremnica Mining Licence Area, which has a current JORC resource of 1.1 million ounces of gold equivalent, and is being fast-tracked towards production.

The Titan 24 ground based geophysical survey will be conducted by Quantec Geoscience Ltd ('Quantec') and will consist initially of three survey lines, totalling 7.2km each, of direct current, induced polarisation and magnetotelluric resistivity data acquisition. Each Titan 24 line will be approximately 2.4km long with each survey line having the ability to acquire data over a 100m wide zone. All field data will be compiled, processed and interpreted by experienced professionals at Quantec's Interpretation Centre in Toronto, Ontario.

UPDATED 14 JUN 2011

OTC website - http://www.ortacresources.com

Current JORC: 1.1 Moz of gold equivalent,'Au Eq'. (938k Au + 7,427k Ag)

http://www.investegate.co.uk/Article.aspx?id=201101250700090190A

Au measured..0,096,000 Oz

Au indicated...0,400,000 Oz

Au inferred..0,443,000 Oz.

Ag measured..0,790,000 Oz

Ag indicated...3,353,000 Oz

Ag inferred..3,284,000 Oz.

Shares In issue....2,315,679,020

Share Price........1.12p (1.11p-1.13p)

Mkt Cap............25.94m

05.01.11.....OPTIVA SECURITIES Buy Note. Current sp 2.68p. 6 month target sp 3.45p

http://www.ortacresources.com/documents/OptivaNote05.01.11.pdf

17.02.11.....OPTIVA SECURITIES Buy Note. Current sp 1.55p. 12 month target 3.39p.

12 month target sp 3.39p at average gold price of US$1,060

12 month target sp 6.40p at average gold price of US$1,400

http://www.ortacresources.com/documents/OptivaNote17.02.11.pdf

18.02.11.....SEYMOUR PIERCE Buy Note. Current sp 1.55p, target 3.00p using US$126/Adj. Au oz Equiv to our adjusted Kremnica resource 724koz Au Equiv. + 0.5m VGM shares + 11.0m (0.48p/share) cash.

"At present we ascribe no value to the companys other exploration licences in Slovakia or Brazil and work on these projects could add significant value if resources are outlined."

http://www.ortacresources.com/documents/SeymourPierceInitiationofCoverage18.02.11.pdf

14.06.11.....OPTIVA SECURITIES - Target 3.39p.

New Geophysical Survey Work Ortac Resources has this morning announced the start of ground based geophysical survey work on its Lutila exploration licence in Slovakia. Lutila (63 sq km) lies immediately to the south of the main Kremnica gold project area (11.8 sq km), where the Group has already defined a resource of 1.1m ounces of gold equivalent. The results of the work will assist in identifying future drill targets and establish the potential for Lutila to host similar gold mineralisation to the Kremnica discovery. The management objective is to move the Groups resource base beyond 2m ounces of gold. The stock has drifted over the last few months, but could soon rebound given the near term potential newsflow opportunities ahead such as scoping study results, drilling data and resource upgrade. The Group remains cash rich (est 10m) with a high quality asset that is near to production and yet the market is essentially valuing the stock at only $23 per ounce, once cash and investments are deducted from the market cap. Against the background of a consistently high gold price that continues to trend upwards, we believe this figure is simply too low. We therefore continue to recommend Ortac Resources as a BUY with a price target of 3.39p as detailed in our 17 February 2011 research note

14.06.11.....Proactive Investor - broker comments

http://www.proactiveinvestors.com.au/companies/news/17123/update-ortac-resources-starts-survey-on-lutila-licence-in-slovakia-17123.html

As we thought the sp is way under valued even running with the defined resource.

StockMarketWire.com
Ortac Resources has reported encouraging initial results from its geological exploration drilling programme, on the company's 100% owned Kremnica Gold Project in Central Slovakia.

Positive results have been recorded from first two diamond drill ('DD') holes which has the potential to increase the current JORC compliant resource of 1.1m. ounces of gold equivalent.

Best results include 24m @ 3.65 g/t Au from 161m from borehole STOR-3.5 (including 1m @ 21.9 g/t Au from 161m and 1m @ 11.75 g/t Au from 164m) and 11m @ 1.85 g/t Au from 40.6m from borehole STOR-3.1 (includes 1.6m @ 4.06 g/t Au from 40.60m).

Reported grade intervals are generally higher than modelled grades and highlight continuity of the mineralisation. There is increased confidence in conversion of Inferred resource ounces into higher confidence Indicated and Measured categories

Borehole ID STOR-3.5, from which 24m @ 3.65 g/t Au from 161m was intersected, was prematurely terminated while still in mineralisation due to difficult drilling conditions.

Ortac CEO Vassilios Carellas said, "I am delighted to announce the first set of results from our 5,000 metre drilling campaign at our Kremnica project, through which we are gaining a better geological understanding of areas of the deposit where we have limited information.

"The results are extremely encouraging, particularly as the grades reported are generally better than the modelled grades for the same area and clearly demonstrate the continuity of the mineralisation in these areas. This will naturally result in these areas being re-classified into higher confidence categories as part of the next resource update, in line with our stated strategy to expand and upgrade our current JORC Resource of 1.1m. ounces of gold equivalent."

Dont see this new found confidence reflected in the s.p yet! I suppose seeing is believing??

marked lack of confidence in dealing although very cheap?? any of you smart guys know "Whats occuring?"

sat on hands except small punt on RMP.,.

If they were undervalued last week then they are a steal this week,but they still drop ?? why oh why does my crystal ball not respond to a good kicking!!!???

maybe you need someone else to kick them to get the full effect??? :))

.......I'll go and get my Doc Martins!........

thinking more of my steel toecaps......

I am tinking I wuz dun? every time I shake the durn ting I get a cackling hag emerging from a snow storm yelling " All that glitters is nay gold!!" What does it all mean?? Its blue skies outside and the missus is out!!!

Can lend you some jump leads.

bb, i'd be getting worried and start taking my medication i'v been neglecting recently!!!!..LOL

Ask Bb, He has golden balls not crystal

the only thing my balls tell me is.....................your getting old and past it............very depressing.......GB you take the medication think you need it more than me......l..o..l :(

Do they tell you tonights lottery no's

Mind you they have not helped with your guess at the end of month Ftse price. Miles out . lol

Balerboy don't believe I was addressing you!!! unless beebusy is one of your aliases???? or you answer for him/her/YOU... :):):)

GB, soz jumped to wrong bb conclusion and not clever enough to have an alias.,. and DC is your name up there at all.........

Fair enough Balerboy, I should've put full name..

whooaaa boys! If my durn crystal ball was working I would have seen this minor storm coming and sent you all to the naughty corner. Now whats the opinion on Ortec, buy buy buy or weep weep weep?????

Shareprice is a shambles, seems like the only way is down for this share, even when undervalued... Shocking.

The burning question is why?? Is it orcestrated?? More twists than a can of spagetti

Well I have just bought some more,its a bit like backing a rank outsider expecting it to canter home after everybody has gone home but one hell of a buzz if it wins!!!!!!!!!!!!

Perhaps you are the sensible one.

The thing thats killing the buzz for me though, is that it doesn't rise to the the occasion (quite litterally).

Very frustrating, but at this price its also got me thinking, "surely its got to rise now?"

Viagra.......

Its worth a try for OTC, a good rns doesn't seem to help OTC much!

I have been telling myself that since it dropped below 2p and have bought in steadly but it seems confound me every time. As for the viagra suggestion, I feel that a short term stiffening followed by a headache is just not what we are after!!!

Facts are:

1) 10m in the bank + 2m VGM shares
2) Drilling results are better than what was used in the modelled data, some samples were 20g/tonne, it only needs to be 0.5g to be profitable
3) Progress has been very quick so far, drilling results will be frequent over the coming months
4) JORC upgrade is likely to be autumn judging by the speed so far, Kreminca alone could be 2m oz gold and there will be a higher % in measured/indicated that's a fact
5) Lucila exploration has started, this could mean an extra 1moz, very exciting as its not been explored yet, being next door to Kremnica it's very exciting
6) Progress is being made on Brazil iron ore asset
7) Ortac have millions of VGM shares, these are forecast to rise once they sort themselves out (hopefully this year)
8) share price is only 1.03ish p, this is a 31% discount to the oversubscribed placing at 1.50p
9) Production is set to commence in 2013, this is targeted to be 100K oz pa
10) Market cap is c25m (half is cash/shares), on production this is likely to be c100m+
11) It's in Europe, safe political area, the Kremnica locals are behind the project to increase local prosperity
12) The problems in Greece look to be resolved for now
13) Gold is forecast is rise (has done every year)
14) Brokers have targeted this at 3p+ based on where we are now, we've been there before last Xmas so no reason it can't be done again if the above are accurate
15) Good chance of a takeover bid, VGM directors sit on the board at Ortac and vice versa, they will know it inside out..

I think there are enough reasons above to make this a strong buy, fill your boots while you can before the big boys come out and snap these up!!

Hmmm! music to my straining ears, I dont agree with the Greek assessment, but all in all its what has kept me buying in although I felt like the lone voice in the wilderness and became riddled with self doubt. I need some good news as Rab capital are to delist and are offering 10p per share which is about 35% what I paid!! So if a Hedge fund of that magnitude gets it wrong its surprising we still eat??? Thank you for your posting Moneyman hope you live up to your tag!!

Take two then, this will give long term stiffening. lol

better picture this morning!!

yes better picture today, still has some climbing left though...

About your point 12. moneyman, I don't think Greece has had much of an impact on otc anyway, shareprice was dropping before the Greece situation was announced...

yeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa!!!

greece - impact on otc - i think not lol!

greece wont make one jot of a difference to otc, rrr and others - if you can afford to lots of bargains right now and it is holiday season again!!! same old year in year out - most including otc will rally in the coming 8 - 12 weeks - kerrrrrrrrrrrrrrchinnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnngggggggggggggggggggggggggggggg!!!!

theres gold in them there hills (and mines!!!) wheres me shovel, pick and mule!!!!

my mule died from starvation but i am kitting er indoors out with a large rucksack !!!!!!!!!!!!!!!

beebusy have you thought of aquiring a cart, the tackles adjustible, and so long as you don't overload to much the wheels should last a while longer...

Hmm! I supose its a thought but a rucksack is cheaper. Looking at the familar drop this am I might have to forego the sunny holiday walking in the mountains of central europe(thats how i described it to er indoors!!!)I bought some ECR just now so may have to offer her a S American surprise??? I have to say that I think it will take some wild eyed prospector dashing into town and plonking a hugh nugget on the bar to wake up this lot!!?? But time will tell.

Hope bod have been to a public relations training course. Did not seem to address the public investor to the best advantage, when I owned them. Theres gold in them hills.

The large investors are keeping a low profile ??

The other assets have yet to taken into consideration,with money in the bank to exploit them its still looking like a buy to me.

StockMarketWire.com
Ortac Resources Ltd. has received the final Geophysical Survey Interpretation Report conducted in June 2011 over part of its 63 sq km Lutila Exploration Licence Area in Slovakia.

These results have identified 14 anomalous zones for follow-up diamond drilling, with at least six considered to be first priority targets ranging in depths from sub-surface to greater than 650m and a further four classified as second priority targets with similar depth ranges.

just hope that these boys are not on par with the miners in the program Goldrush!!! These starry eyed clowns are worth watching as they pour their own and others money into gold mining for the elusive mother lode!! Hmmm!! sound familiar???

Ortac Resources Ltd. announces its results for the year ended 31 March 2011.

Highlights
Placing in February 2011 raised 8,421,053 before expenses - strong current cash position of 9.6 million

Focussed towards natural resource development in Europe

Initial operations in Slovakia on mining licence and nine exploration licence areas, totalling approximately 200 sq km in the highly prospective Carpathian Mountain Belt

Major focus on revitalising the historic Sturec gold and silver open pit, part of the historic Kremnica Deposit, located in the Central Slovakian Volcanic Field

o Total gold equivalent JORC resource equivalent increased by more than 40% to 1.1 million ounce gold at a 0.75 g/t cut-off

o JORC Resource currently only calculated along 1.1km of the 6.5km known strike length, which understood to be open in both directions and at depth

o 5,000m diamond drill programme underway with encouraging first results

o Scoping Study examining the existing Sturec resource on track to be completed in H2 2011

Evaluating potential of other licences in Eastern Slovakia at various stages of development

Defined strategy to expand via targeted acquisitions and strategic partnerships across Europe

Post year end
Board restructured to drive the Kremnica Gold Project through the Scoping and Feasibility Study stages towards production - appointment of CFO and Group Mining Engineer

Other interests include the Rio Paranaiba iron ore project in Brazil which, as announced on 7 April 2011, is undergoing a restructuring. The Company also retains a holding of 500,000 shares in Vatukoula Gold Mines Plc with a current market value of approximately 450,000

Ortac CEO Vassilios Carellas said, "This has been a transformational year for Ortac having completed the reverse takeover of Ortac Resources plc in September 2010 and the oversubscribed placing in February 2011. The Company is now in a stronger position to enhance shareholder and stakeholder value."

Talk is cheap lets now see some action.

beebusy what other action would you like to see?, besides the obvious rise in the shares!!..

They have money in the bank they should be throwing some of it into the scoping to speed up the process. Release regular bulletins so share holders are not floundering around in the dark with the sunsequent loss of confidence this brings about. I believe in this company and have been in from the start but their share performance has been woeful . I want what every other punter out there wants, a decent return on my money.

OTC are at this time doing the scoping with results due in 2H, look at the RNS's release dates, i think they'r getting more regular as and when they've news to report, as to share price performance the markets in general have been dire, hopefully they'l start turning soon??...

a bit of dynamite!!! LOL

http://www.youtube.com/watch?v=L5YUCygMBiE

just come out of hospital and switched on my beloved machine, Hmmm! Hmmm! for get the losses look at the oportunities!! Just bought in another lot. The whole market has some great chances to aquire stock at knock down prices.

mini bounce first bit of good news in weeks.

more to come
fantstic trading
gl

still plodding up today,I suppose we can expect some profit taking.

buy on weakness imo

conservative estimate 'The Board is confident that Kremnica has the potential to achieve a 2Moz equivalent resource through additional exploratory drilling, with the existing resource at Kremnica only calculated along 1.1km of the 6.5km known strike length which is open in both directions and at depth. '

Valuation
Our analysis shows that Europes gold exploration companies are trading on a
weighted average EV/'oz gold equivalent resource of US$72/oz. In contrast Ortac is
trading on just US$18.6/oz, a 74% discount. Applying the group average to Kremnicas
current gold equivalent resource, values the project at US$79.6m or 2.2p/share. The
companys current 10.3m cash position and shareholding in AIM-listed Vatukoula
Goldmines add a further 0.5p/share. giving a sum of parts value of 2.7p/share which
we round up to 3p as a target.

3p very conservative imo

rest of report

http://www.ortacresources.com/documents/SeymourPierceNewsflash28.06.11_000.pdf

Key to material interests
1 The analyst has a personal holding of the securities issued by the company, or of derivatives
related to such securities.2 Seymour Pierce Limited or an affiliate owns more than 5% of the issued share capital of the
company.3 Seymour Pierce Limited or an affiliate is party to an agreement with the company relating to the
provision of investment banking services, or has been party to such an agreement within the past
12 months. Our corporate broking agreements include a provision that we will prepare and publish
research at such times as we consider appropriate.
4 Seymour Pierce or an affiliate has been lead manager or co-lead manager of a publicly disclosed
offer of securities for the company within the past 12 months.
5 Seymour Pierce is a market maker or liquidity provider in the securities issued by the company.6 Seymour Pierce is party to an agreement with the company relating to the production of research
recommendations.

a few months ago but worth keeping in mind......house broker.....

Comment 14 June 2011
Ortac Resources PLC (OTC.L)# 1.13p (1.11p‐1.15p)
Buy: 12mth Price Target: 3.39p Market Cap:26m
New Geophysical Survey Work
Ortac Resources has this morning announced the start of ground based geophysical survey work on its
Lutila exploration licence in Slovakia. Lutila (63 sq km) lies immediately to the south of the main
Kremnica gold project area (11.8 sq km), where the Group has already defined a resource of 1.1m
ounces of gold equivalent. The results of the work will assist in identifying future drill targets and
establish the potential for Lutila to host similar gold mineralisation to the Kremnica discovery. The
management objective is to move the Groups resource base beyond 2m ounces of gold.
The stock has drifted over the last few months, but could soon rebound given the near term potential
newsflow opportunities ahead such as scoping study results, drilling data and resource upgrade. The
Group remains cash rich (est 10m) with a high quality asset that is near to production and yet the
market is essentially valuing the stock at only $23 per ounce, once cash and investments are deducted
from the market cap. Against the background of a consistently high gold price that continues to trend
upwards, we believe this figure is simply too low. We therefore continue to recommend Ortac
Resources as a BUY with a price target of 3.39p as detailed in our 17 February 2011 research note.
# Optiva Securities act as joint broker to Ortac Resources
Jason Robertson | Analyst/Corporate Broker
D: +44 (0)20 3137 1906 | M: +44 (0)7751

somebody should try telling all this to the share holders!! the s.p does not reflect any of the above just a bad case of the jitters. selling less than 100,000 at 1p?? where is the sense or gain in that??

agreed bb there is no sense to sell at those levels - i am guessing peeps panicing - can not afford to hold any longer and maybe dipped out for quick wins at the likes of pxs then buy back here hoping the price hasnt shot up in the meantime - also usual at's triggered by the mms as usual etc
amzingly we are yet to have a bad rns yet otc barely moves north
it will happen - has to esp. with gold going up and up
gl

extract from the chairman's speech today:

'"Looking ahead, we anticipate a steady flow of news over the coming months, reporting on new results generated from the Kremnica exploration programme and outlining defined plans at our other prospects. I am confident that the Company, with its healthy cash balance, can deliver real value to shareholders and look forward to keeping the market up to speed on our progress."'

glad i am in now and not after these news releases - hope others are too
gla

'

I am looking on this holding to lift my slough of despond. It is without doubt probably the best of the bunch. My grand plan is to get out and sling this computer in the bin and then holding my I-Phone aloft keep going South through France until a local enquires " What is that thing that you are holding?" I will then lob it in the nearest river and settle down. Ha! What dreams!! In the mean time these grandiose schemes will mount to nought unless this bunch starts heading North.

lol bb - i agree this is best of the bunch - your dreams will happen but dare i say that dreaded word - patience - personally looking fwd to the upgrade which should not be that far away - but we are holding steady and with good reason and dont forget the over subscribed placing - we have cash and very good prospects - you maybe at the sof sooner than you think

gl

will buy some more at these levels... only way is up me thinks imo....

good stuff - imo you will not regret it - should easily multi bag from these levels - gl

Good lord these things are going up and down so much its making me quite seasick!! The mule is dead and I am down to eating my boot leather!! But my other half must be worth a few quid to a passing slaver, I simply must have more Ortac??? Darling come here a moment please??????????????????????lol

hi bb - lol!! try a bit of seasoning on your boot leather - makes all the difference you know and dont waste the laces - my mule went last month!! yes up and down - good trading ranges - still have my long not selling till at least 3p - and know what you mean - simply need more ortac!! good buy sp right now ..... AGAIN!!

Further Positive Drill Results from Kremnica Gold Project, Slovakia
Ortac Resources Ltd, the AIM listed exploration and development company focussed on natural resource projects in Europe, is pleased to report additional encouraging drill results from its turec deposit, which is part of its Kremnica precious metals project in Central Slovakia ('Kremnica') further to the promising initial gold and silver assays reported from its geological exploration drilling programme.

Key Points
Best results include 144.6m @ 1.36 g/t Au and 8.85 g/t Ag from 64.4m from borehole STOR-3.9 (including 33m @ 2.46 g/t Au and 17.30 g/t Ag from 147m) and 1m @ 36 g/t Au and 189 g/t Ag from 185m from borehole STOR-3.4

Further confidence for future conversion of Inferred resource ounces into higher Indicated and Measured categories

All holes reached targeted depth with the exception of STOR-3.4 which was prematurely terminated due to difficult drilling conditions - intention to re-drill as significant grades were encountered at the bottom of this drill hole

Ortac CEO Vassilios Carellas said, "These intersections, which show positive grade and widths, further underpin the prospectivity of Kremnica for precious metals, and demonstrate the considerable additional resource potential of this asset. Importantly, these results provide further confidence for the future conversion of the Inferred resource at turec, along with the geological interpretation, which in almost all of the drill holes drilled to date has been remarkably accurate."

another good rns - that should mean the sp should go down again!!! LOL

hope so as i need more of these!!! :-~

3p target - sp

http://investing.thisismoney.co.uk/broker-views/

http://investing.thisismoney.co.uk/quote/OTC

I have been told by er indoors, that being sold off to a slaver would be the prefered option!! such a cutting remark?? I suppose having spent the holiday fund and raided her jewellery box, short of selling body parts I must hunker down and await the great day!!!Although if it was somebody elses body parts????!!!!! Hmmm!! Darling come here a mo!! lol

oops! & lol ref mrs bbs parts - a preferable option to your own i would think!! here kidneys get a good price on ebay!! :-;
gl

when discussing my sheer brilliance she says" He is in there with his dodgy shares" Oh ye of little faith! My day will come just hope I live to see it??? Lol

'dodgy shares' lol i didnt know she knew about otc - how did she find out!!!!

hope she dont tell everyone!!!

She thinks I would be better employed buying gold that is hallmarked???

lol - you are - its just not out the ground yet!! :-0

Ohhh!! Whats occuring????

more red - gonna get me some more!

bought more in at .89p Gibby. will hallmark later!!

yep me too bb - got some more at .88 - yep ditto the hallmark - it is great to buy on weakness when the weakness is for no reason apart from the obvious - as regards otc fundamentals the same and in the right sector

lol looks like i topped up too early here - hope still this sp monday - used my spare funds elsewhere today - also last i looked today sres down again - that will surge on news also in time - gla

story of my life to early this to early that!! To hell with it i am off to Spain for a week see if there is any Spanish gold in them thar mountains if not there is plenty in the bars!!! Hopefully when I return you will have the situation under contoll and back on track Gibby lol Hasta la vista!!

I will give you some gold for now.lol



http://youtu.be/qelvfrVTC50

hi bb - lol yes - have a great week in espana - you can borrow my mule pick axe & shovel for those mountains of you like - and yes if not i am sure there will be plenty in the bars!!! otc despite current sp is not a worry to me just an opportunity - it will imo hit 3p + within 12 months - looking fwd to a poss re-rating - roll on next jorc & rns's

and lol dc ref golden nuggets - i'll try not to reel in the tnt!!! lol

Tuesday 04 October, 2011Ortac Resources Ltd
Exploration Commences at Cejkov Licence, Slovakia
RNS Number : 4615P
Ortac Resources Limited
04 October 2011



Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration

4 October 2011

Ortac Resources Ltd ('Ortac' or 'the Company')

Exploration Commences at Cejkov Licence, Eastern Slovakia



Ortac Resources Ltd, the AIM listed exploration and development company focussed on natural resource projects in Europe, is pleased to announce the commencement of exploration activities at its highly prospective precious and base metals licences in south-eastern Slovakia, which cover a combined area of 200 sq km across nine exploration licences. The Company's initial focus in this region is on the Cejkov Exploration Licence ('Cejkov' or 'the Licence') where an exploration programme has commenced in order to verify the geological interpretation of data collected to date and assess the resource potential of the Licence.



The Licence is located in the southern part of the Trebiov district of Slovakia, approximately 200km east of the Company's most advanced asset, the Kremnica Precious Metals Project which has a current JORC compliant resource of 1.1Moz of gold equivalent from its turec Resource. Cejkov has had several exploration campaigns conducted on it stretching back to 1966, where initial geological mapping and exploration drilling works were performed by the Czechoslovakian state and by RTZ up until the end of communism. Exploration results from the 1990s include 2.5m @ 514.20 g/t silver ('Ag'), 13.37% lead ('Pb') and 8.34% zinc ('Zn') from hole VS-19 and 2.9m @ 156.59 g/t Ag, 13.02% Pb and 14.45% Zn from hole VS-20.



The initial stage of the exploration programme at Cejkov entails the drilling of four diamond drill holes to an average depth of 225m each, which will be completed by Geo-Technic Consulting spol. s r.o., along with some ground based geophysics (2.5km), to be carried out by KORAL, s.r.o.. The focus at this stage is to incorporate the previous exploration results into a credible geological model that determines the potential extents to this mineralisation. It is believed that Cejkov has the potential to host high grade precious and base metal mineralisation in quartz veins hosted by intermediate to acidic volcanic sequences.



Ortac CEO Vassilios Carellas said, "The Cejkov licence has delivered extremely encouraging historical exploration results identifying it as a priority area of focus for Ortac as we commence exploration activities across our Eastern Slovakian portfolio of assets. It is believed that Cejkov has the potential to host high grade precious and base metal mineralisation, and this exploration campaign will provide the Company with a more substantiated reference to confirm the resource potential of this licence.



"In tandem with our exploration activities in Eastern Slovakia, we continue to make progress at our more advanced turec Resource in Kremnica, where we have received consistently encouraging drilling results and where a Scoping Study is due for publication by the end of 2011."

buenos dias hombres. Wot no riches???

lol bb - otc's turn will come - have a great weekend

Worked all weekend now entrenched in front of my computer screen willing the blighters upwards. I hope they dont bring out anymore good news everytime they do the S.P takes a dive!!!??? lol

exactly bb - cant take anymore good news here!!!

good to see more blue here

yeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

another good rns update on a poor market day in general.................

YOU KNOW WHAT THAT MEANS - LOL

Started well up just under 5% a lot of buying going on. Good results from the present surveys should make us very happy bunnies Gibby

hi bb - agreed - we should start heading towards the sp we should be as still way under valued as you know - but heading in the right direction again - cheers

company reporting "High grade intercepts at Sturec" which should lead to a reappraisal upwards upon completion of the survey.

yes i noted that - no reason why not - when otc is sitting somewhere in the 3p to potential 15p range (more hopefully!!) over the next year or two and we are both holding a shed load of these golden tickets we will be laffing at today's sp - gl

http://minesite.com/news/ortac-resources-aims-to-build-a-gold-mining-powerhouse-in-central-europe-with-two-million-ounces-at-kremnica-as-the-cornerstone

Just had a read sounds like they have their heads screwed on,as long as mother earth comes up with the goods!! On the basis of what I read I felt the urge to to top up with another large wedge!! I may even sell the mule and buy a Toyota pick up!! eeeeeeeeeeeeehhhhhhhhhhhhhhaaaaaaaaaaaaaaa!!!!!!!!!!!!!!

yep agreed - and lol the mule to a toyota pick up!!!

It's all good news ...just waiting for the sp to start it's journey upwards!

And waiting!!! Yep still waiting!!!!! The whole world has gone nuts.

bb i think you mean nuttier! lol been nuts for a long while - have a good evening :-))

Very true Gibby, but lets think now. At home or in your small business you find you are in a financial bind you make cut backs, work out what is vital and what is not so important. You dont down tools,riot,hold useless talks?? Talk about a Nero syndrome!!As some know it all once said" Earn a shilling spend sixpence is good managment, Earn a shilling spend two lies ruin!!" Anyway enough of that its depressing.I quite like Red and looking at my share accounts its just as well!!!

way I see it the ecomonies will regenerate on output and commodities, we certainly cannot look to our financial houses . Iron ore,tin, precious metals, oils and gases,will be the power houses and it would pay us to look to the countries that contain those assets closely. There are and will be opportunities for the adventurous and the bold.

hi bb - yep there are some commodities safer than others thats for sure - gold will always have value in good times and bad - but the problem with many countries that have some of the assets you mention are war zones and other problems which makes it a tad more difficult - look at gkp - if it wasnt situated where it is that sp would easily be 20 times what it is currently without breaking into a sweat - but hey ho - have a good evening - no worries here though :-)))

I own a chunk of oxs which is well and truly up the creek. Get into bed with bugs expect to get bitten!!!

KEEP an EYE

0.885p ( 0.87 / 0.90p )

Rising volume today and MMs getting ready to move higher as the spread is narrowing. Level 2 of 2 v 1

Moved to 0.90p as larger buys have pushed a few MMs UP

moneyam charts well delayed only 0.89p when is 0.90p already for the last 26 minutes

My largest holding, I have been topping up weekly on the dips.

I added to my holding on friday, still some way to go to be in profit though.
2517

beebusy, your largest holding is an AIM penny stock? Wish you luck, but that is a very high risk strategy!

yep its true, trouble is I am a gambler at heart

And to put that into perspective I do hold high st brands,you know the good old safe bets Lloyds!!!! Rbs!!!!! I even hold stock in Rab capital the best performing Hedge fund before they caught a cold and have now delisted. So maybe just maybe my dodgy stock are the ones to be in???

Seeing as OTC have 10 mil in bank and the planned spend for the next 18 mths is 3 mil should be safer then a lot of AIM stock...

Hurrah!! Just hope they hurry up and realise their potential.A lot of investment bank money has gone into them.

Those prices at .863 are buys they've been put down as sells!!, i've bought some this morning so i know they're buys..

Yep I complained to mon/am a few months ago that buys were going through as sells. It can be a confusing to say the least.

They were put down as sells on advfn also, yes it's not only confusing it gives PI's the impression that investors are selling out when this is not the case...

should be due some festive news soon??

Something like "Christmas is cancelled" ?

Humbug!!

Mind you, why dont they apply the same strategy to reopening the Welsh mines?? That way at least we can take a day trip and watch our money being p---ed against the wall!!

I know with shares like these its good to take a long view? But you would need the Hubble telescope to see an end to these babies. We hear that cash is in the coffers in abundance? That the scoping is going well and they hope to anounce results soon?? I well remember a holding I had in Subsea Resources which took a dive!! (Excuse pun!) I always had a disagreeable feeling that some longshoreman in a turtle neck jumper and breton cap was stood in a dodgy bar swigging my money away while conjuring up more and more lurid details of recovering lost cargos from the deep. I do wonder if in some back street bar in central Europe a chap wearing a hard hat with light is doing much the same???Merry Christmas to you all, lets hope that there will be light at the end of a central european tunnel in 2012.

well 2012 should be good here imo - i am thinking back to the rns releases this year and i do not remember a bad one??? yet sp still reversed - this is a bargain at this sp imo :-))))
gla

yep.. i'm staying in .. sitting on a 50% loss at the moment....this must get better during 2012....

my largest holding in my high risk fund. stuck at an ave of 2.05p. hope 2012 is better as i too couldn't see anything wrong with the RNSs. GLA

Alex

Have a large holding with a significant book loss at the moment.Although hard at times like this I remember why I bought them and that still holds true. So onwards and upwards!!!

:-))))))))))))))))

Nice rise of over 14% this AM.It is my belief that at this price there are still substantial gains to be made. Like all these shares there is a high risk factor involved but they do seem remarkably under valued??

Seymour Pierce puts a price of 2.7p, there's been some other brokers who've put higher t/p's at up to 3.9p, and that was for Jorc resource's of 1.1mil oz.. If/when they upgrade to nearer 2mil oz then you're looking at a s/p of 4p+, so yes i'd say they looked undervalued!!..

I would not be surprised to see investment in further fields along the guide lines of the company statement this year.Spreading the net so to speak.

Looking strong this afternoon, some bid buys coming in.Getting in ahead of the expected news next week, though s/p only heading where they should've been before the market malaise kicked in!!!..

Watching & Waiting....I'd take 2.7p let alone 3.9p! bought in some while ago @1.56p...so just to get back to break even would be good!

Amen to that. It would be nice to be in the green again on these, although there is some way to go for me.

I bought @ 1.80p and more recently @ 0.89p so looking around 1.38p for breakeven.
2517

it was bb

nice rns today as per tradition mostly sells so far!!!

gl 2517

crikey a sea of red!!

profit takers cleared - sea of blue now - going back uo :-)))

yep otc strikes again - good promising rns - bavk in the red and one would expect sub 1p not far away hey ho

2 views:

http://www.iii.co.uk/articles/22854/ortac-slumps-despite-positive-%C5%A1turec-results

Ortac slumps despite robust Šturec findings
By Sarah Modlock | Tue, 10/01/2012 - 11:31

Slovakian-focused explorer and developer Ortac Resources (OTC) saw its shares tumble on Tuesday, despite unveiling positive findings from the scoping study on its 100%-owned Šturec gold and silver deposit.

Highlights included a pre-tax net present value of $180 million (£116 million) at the base case Scenario-1 of a 1.5 million tonne per annum open-pit operation.

This was double the size of the old estimate of $90.6 million put forward by analysts at Optiva Securities. The broker said that the difference mostly related to scoping study consultant SRK's confidence in the project supporting a larger mining operation that can produce 867,000 ounces of gold equivalent over an 11-year mine life, versus Optiva's projection of 565,000 ounces.

In addition, the broker noted that gold spot prices are some 20% higher than 12 months ago, which allows for a higher gold price of $1,200 per ounce being used in the base case model.

Ortac's chief executive Vassilios Carellas said that the successful completion of the study confirms that the company has a robust and profitable project with excellent leverage to the gold price. "We now look forward to working together with the local communities, authorities and Kremnica Gold s.r.o to evaluate the optimum path toward monetising this asset and how best this project can complement and benefit the local and regional development," he added.

Analyst Jason Robertson at Optiva said of the results: "Overall we are pleased with the findings that demonstrate that the project is both robust and profitable."

He used the study outcomes to rework his number on Ortac and said that if the resource at Šturec can be improved to what the management believe may approach two million ounces of gold equivalent or a JORC resource established in eastern Slovakia, then further value can be added.

"The year ahead is likely to be very active as potential drilling results and resource upgrades are revealed, and project milestones at Šturec pursued. With the share price languishing at around 1p, considerably less than our 3.3p price target, we therefore recommend Ortac Resources as a 'buy'."

&...

http://minesite.com/media/pub/var/release_downloadable_file/35101.pdf

The Joint Ore Reserves Committee compliant Scoping study into their 100% Šturec gold and silver project at Kremnica in Slovakia is very detailed, but at our preferred gold and silver pricing assumptions is ultimately slightly disappointing.

They have modeled four scenarios, ranging from a 0.75 million tonnes per annum (Mtpa) open pit through to a 2 Mtpa one, using a lower cut off grade, and a 1.8 Mtpa underground operation. The base case was a 1.5 Mtpa open pit using a 0.75 g/t gold cut off.

Scenario 3, a 2Mtpa operation, using a cut off grade of 0.44 grammes per tonne (g/t) gold, is preferred, and is set to have a mine life of 11 years, with average annual production of almost 86,000 gold equivalent ounces. With capital costs ranging from US$83-181m, Scenario 3 itself would cost $155m with $13m of sustaining capital. At a gold price of $1,200 per ounce (/oz) and a silver price of $22/oz, post tax Internal Rates of Return (IRR) range from 14% to 24%, with Scenario 3 offering this disappointing top return.

Assuming an 8% discount rate, the post Tax Net Present Value for this scenario amounted to $153m. This falls to $109m if a $1,053/oz gold equivalent price is used. Taking into account refining charges and presumably metallurgical recovery, their base gold and silver price of $1,200/oz and $22/oz respectively adds up to a gold equivalent price of $1,188/oz. We would have preferred to have seen economic numbers estimated at $1,000/oz gold and $15/oz silver, and they will obviously be sub 20% IRR.

More work needs to be done to show economic viability, a combination of larger resources leading to an even larger open pit, with lower capital and operating costs is obviously required. After the recent run, they are capitalised at £22.3m, which appears up with events.



Interesting point about the economics being overvalued at a base gold and silver price of $1,200/oz and $22/oz respectively.

"We would have preferred to have seen economic numbers estimated at $1,000/oz gold and $15/oz silver"

perhaps $1000/oz gold would have been more appropriate for the base which would mean the NPV would fall to below $100m. Despite the figures and somewhat downbeat analysis, OTC aim to increase their JORC compliant resource which will add value to the company's SP.

gla

http://www.proactiveinvestors.co.uk/companies/news/37632/ortac-resources-says-sturec-scoping-study-confirms-a-robust-and-profitable-gold-silver-project-37632.html

wonder if there will be any bounce here today - otc picked a bad day to release yesterday with gkp so rampant and some others.......

How frustrating it all is. I was busy,when with great delight I watched it climbing then not 30 minutes later I checked and it was in the red!!!!! Her indoors can cancel the Queen Mary cruise and book the Isle of Wight ferry, same colour funnel anyway!!!

lol bb at least the funnel is the same colour then - i am sure she wont notice the difference???!! :-))) at least its not a dingy with you rowing in a force 10!!! lol

confession - sold some yesterday near the high as l2 werent looking like it should on the news and shoved it into gkp - only way there is up despite its location couldnt wait any longer for otc news with the level i had tied up here - but still sizable interest - gl

more likely to be Sea France I think.,.

I had just resolved to sell off half my holdings at a small profit and reducing my exposure when the crunch came. From what I see. in a nutshell. There is still a viable venture but with smaller profit margins. Agreed??

lol bb

otc - yep i do see otc as viable - we only have the results of 1 license so far so difficult to say how far otc can go but definitely worth much more than current sp

my only slight concern with otc though is : the qty of shares and the grade of gold - i am also in cnr and others that have much higher gold grades and this is starting to become apparent in the sp i think - keep an eye on sres which like otc has a habit of reversing the sp on an rns - gl

Thanks Gibby, I am in sres(the red!!) and i still have the nightmare oxs, which strangely enough Rab own 23%of and have increased their holdings which in view of the hugh hit they must have taken last year makes one think "What do they know that I dont?? So I will ride that one through for a while as I am looking at a 60% book loss at the moment!! And her indoors will certainly not stoop to a jet ski!!

blimey - i forgot you are in oxs as well - sorry to hear that - and yes i wonder what rab do know? sit tight seems the order of the day there - lol jet ski - i was thinking more inflatable arm bounds, a float and feet paddling very hard to france (only float on way back though as arm bands sold for food on arrival)!! lol :-)))))

sorry arm bands not bounds!! been a long day already!

I think bound is probably right if she doesnt get her cruise this year!! I was just running through the little punts I have had last year and it makes woeful reading!! ATL who? ECB what?? MTV when????????? Line that up with sres, htt, lloy, rab, Surely I must qualify for the golden goose award for bad investments??Dont even go down the Canadian road!!! And to boot I have become hen pecked as I was about to buy in a little more otc a frosty voice from over my shoulder remarked" Surely you not buying more of that ?? I slunk away to do the dishes. Hi! Ho!

lol ref bound bb - maybe that is what my subconscious was trying to tell me!! oh dear mtv too - another rns specialist - problem there is so much dilution however they have said last time was the last one and from now on will be able to run in profit - i am seriously put off by their shares in circulation - i am in there but small and good sp considering so much for the award rns today!! hen pecked lol she may have saved you some cash by making you hold back on further investment on certain shares!! i have sent a wooden spoon in the post to you ref investments!! only joshing of course - any one or all of those can come good just wait and see - if you have a shed in the garden good place to escape the missus for a bit of peace & sollitude!!! lol gl

Can you get my mule back from Senegal Gibby I have had to pawn the 4X4. lol

oh dear bb - i will try for you may have to come by boat though so a few weeks away - you not looking to pawn the mule too by chance :-)))) lol

gl

Naw, I love that mule more than er indoors!! Mind you, Senegal,er indoors, Hmmmmmmmmmm!!!!!

Seems to have reached their nadir again hopefully! Have managed to convince er indoors about the dangers of cruising and the safer option being a nice week in Provence!! Therebye freeing up funds!!!! God I love u-tube!!!!!!!!!!!

it sure do bb - glad you managed to convince er indoors to see sense now :-))))
joking aside i wonder what was going through that iti cruise captains head to be over 5 miles off course just to wave to a friend of his if that is true - does he have no respect for life or his employers? madness - and yes safer in provence!!!

have a good evening

They did it the year before within 500 metres!!! He probably thought he would do it again and cut it to fine. There is a fine line between panache and crash. I should know, I once changed boats quickly and forgot that the one I had changed to had a slightly higher air draft, Slide nicely under a bridge removing all the vhf ariels in doing so!! Whoops!!!I was looking forward to demonstrating to er indoors how nicely her holiday money had grown overnight! But looking at them this morning I think I might slink off down to my boat!! Its safer!! Lol!

sorry to heat about the damage to your new boat!!! a tad unlucky there!! hope all repaired now. yes i think your boat is the best bet the way this one is going - maybe if you sail round the world by the time you return otc may have finally managed to get to 1p and stay there - and mtv might actually release an rns with some revenue on it from a contract win rather than yet more in talks with so and so, or its in development blah blah blah lol - gl and chin up :-))))

typo - hear not heat above!!

Lol There was a bit of heat mainly the ribbing I got!! In for a penny, I grabbed some Polo yesterday, please note which way they are heading this morning!!!**???

evening bb - i was going to say i think otc must have cornered the market for the colour RED lol - then i looked at polo!!! i thought that was a mint with a hole in the middle or a game on horse back!! lol i must give my sincere thanks of your pre warning to me that you are now invested there - will steer clear of that now lol!!! only joshing!! i have to ask - what made you buy on what i can see as no news just after it went up recently?? i am genuinely interested as i do not know much about polo - is news expected there - looks a reasonable company at first glance is there something good heading their way?? i take it you talked over your new investment with mrs bb before taking the plunge LOL! hope that wasnt her much looked forward to holiday!! but seriously sorry it reversed there for you - always tomorrow :-))

OTC trades for today on moneyam, most have been put as sells and the rest i unknown?, when infact it was more or less evens!!!, moneyam need to invest in a better programe...

Yes I have noticed that before, when I bought it was flagged up as a sell.Morning Gibby, To answer your question re polo, I think its called the Lemming syndrome!! Every one and his dog that I know has been squirreling away Polo, maybe in the hope of another dividend??? And to clarify, I had a good holding which I sold (just before dividend??) to buy otc. Now it maybe beginning to dawn on you that there is not a lot of logic going on here!! But in my defence at the time it appears crystal clear!!!But for every winner there has to be a loser and I am proud to say I support you guys albeit in a small way!!! My secret is I never ever place more than I can afford to lose which is maybe just as well Lol.................Kkkkkkkkkkkkerplunk

According to Money am there has not been a single buy today????????????

Half a million just come through. lol

SP just resting... for the next leg up?...looking good!

evening bb - hope all good with you - i like your polo strategy - thats a new one on me - sell before the dividend yes i like it :-)))) seriously sorry to hear that but i am sure you had a good reason for it at the time - i am going to try a new strategy too - i hear it is quite easy to do - buy very high and sell extremely low or if i am real lucky not even sell but watch a company slide into administration never to be seen again and the ceo disappeared to a private island somewhere extremely nice with a massive yacht with 2 helicopter pads rolled in lol!! that thing about buys showing as sells i dont think there is a software package bespoke or cots that can cope with it - not come across it yet but maybe one day?!! i am glad you dont go beyond what you can afford to lose - and seriously i bet most if not all your shares come back and make a profit at some point just bought a bit to early - we all have at some point i am sure

have a good evening

Well it needs to rest higher up, it's done b----- all to warrant resting at this level.

2517

evening skyhigh - yep otc is good at resting - an expert at it lol but it will come good in time imo - i do hope they do not dilute further though i havent checked but i think we have around 2B in circulation - need to check that - gl

2517 sadly otc for the moment is very well rested - its so laid back it is horizontal!!!

Like so many of these stocks they need time, although I just recently bought MAGP @ 0.87p so far doing ok, they have stakes in numerous wells in USA.
2517

2517 - this is true they do - and well done magp seems to be going ok just took a look there also

Thing is have I got the time left that they need????????????

Another week of drifting in the doldrums,at this rate the mule and I will have to part company!!!!!!!!!!!

bb sadly i had to let my mule go!! you too possibly hey? sorry to hear that! :-))

Put the mule on half rations, I still think there is gold in dem thar hills???? The way its going my last words are likely to be " Never mind the wailing hows OTC doing??" Lol

lol good idea bb - if i did the same with my mule would have lasted longer!! still have me pick axe and shovel though - so all is not lost yet!! i can relate to those last words!! thought i clicked on the wrong page for otc by mistake just now - looked at the sp and it was blue!! whats going on - this just isnt on!!! probably correct itself to red tomorrow though!

I have found you two a well looked after Toyota Hi Lux that you can share. :-)http://upload.wikimedia.org/wikipedia/en/0/01/TGHiluxDestroyed.jpg

And its RED, well more a rusty red.

Hell that looks like er indoors last car!!! She never did believe in polish.Lol gibby I noticed they started down their usual route at close. Mind you that sres has done me some good and polo I have actually got green on the screen. although I will keep it low key as er indoors can dispose of it quicker than me.Now wheres my list of dodgy shares and a pin!!!!

very quiet day of trading almost like everybodys taking stock??

0.865p +0.025p

on the move up and now looks like is the third time lucky on trying to move higher twice during the last 2 weeks after forming a bottom around the 0.80p

Not holding my breath, more false starts than her indoors diets!!

Good news from the front today which has triggered a fair bit of interest.

bb yes but only for the daytraders, and sell on news brigade!!..

Agreed, I am in it for the long haul but it does do the heart good to see a little gain now and then!!

bb mate been on hols for a few weeks i am glad you keep your sense of humour
i do remember some of your other investments picked up before i left - good job as you and better half mrs bb would hve been getting hungry!!!
i like otc but the shares in circulation and economic uncertinty have made this high risk for me and the sp always hardly moves
you take care and ATVB

an the sp is heading south

Gibby, welcome back, there was some concern that you had emptied the city coffers and scarpered!! Er indoors has decreed that as my dealing is woefully inadequate to support her lifestyle she would get involved!! And upon her advice I have bought back into FOGL, If anything would make the Falklands slip beneath the waves like a latter day Atlantis it will be the fact that my cash has been splashed!! Just to let you know this is an ongoing situation I checked on one of my old investments KAH which I bought at .17p in 2007 ish,sold the same year for .22p and they are now a princely £2.43. Woe and thrice woe!! Question? This crystal ball I bought cheap from the market has snowflakes in it, is that right???? Lol!! And how come you can afford three weeks off???

bb lol you have a great sense of humour - by chance it tihnk i bought the same crystall ball from a couple of guys trading out of a suit case trying to sell me water damaged umbrellas in peackham high street - you might know them Trotters Independent Traders with offices in New York Paris and London probelm is every thing they sell dont work and as they say no income tax no gurantee no VAT la la lala etc
Glad to see you did not go hungry i just shot off to see relaitves and ski / snow board
Pls past my best to mrs bb - sounds good - take care

Ah yes T.I.T.INC my peckham brokers!! Love em!!

BBB give me your contacts I will smile when my cash goes down the bog lol

It is a dark and murky world in which no sane man would willingly enter, but if go you must ask for Rodney aka Robin!!!! I have just served er indoors her morning fruit tea while listening to her theory that I am way over exposed in OTC!!! if I can find the ruddy book she is getting all this from its going on the fire!! A little knowledge is dangerous and in this case any knowledge is down right lethal she will be wanting to see my book next!!!!!!!!!

bb lol another dismal day here sadly where is mrs bbs book on the fire may need that to heat the trace map GL and at least we can smile

Tomorrow is another day,but I did think that the latest statement would have a more positive reaction. C'est la vie!!

I don't know if anyone else noticed but early last week and the previous week there was a lot of sells going through and strange spreads, there's also been a lot of large sells today?..
Its been suggested that an ii (Henderson) is off-loading their holdings, So its a matter of how many more have they got to dispose of? Lets hope they've finished!!!...

Granny i did notice some off loading and as you say city chatter confirms tomorrow is another day

bb keep well

Good news guys ! I've sold my OTC shares....got fed up with the waiting... so the SP will rise now!

(bought some more FRR.).

Lucky you!! They would have to reach the giddy heights of 1.6p for me to break even!! Had the thought of taking the hit and reinvesting but have not the got any confidence in anything at the moment, so will fiddle away while Rome burns!!

Yes OTC starting to get a very frustrating share to hold!!!, Long over due a re-rating...

Hurrah!!!! Somebody has just bought 2,000.000@.084p have not been this frustrated since they invented tights!!!!!!!!!!!

Boo!Hoo!! in an instant somebody sold 2,500.000@.083. What is going on?????????????????

You deserve to make a fortune beebusy. Lost patience with one of mine today.

The day you throw the towel in , you know what happens.

I have seperate list of previous shares, and guess what its a lovely sea of blue!!!!

Thought you would say that. I think the lord looks down on you when you come to sell
and says right. The lord bit ,I promise Im not gibby. Mind you, you can see that without ten spelling mistakes in these two lines. :-))

As the ancient Greeks would say" We are but a plaything of the gods" And each to his own, its like being gay its alright until they try to convert you,Lol !!!!!!

Why is it that publishing a slightly uplifting statement has little or no reaction to these shares?

The ii (Henderson) seller has put the kebosh on any s/p rise for the time being,lets hope they've nearly/completed their selling, but there should be an RNS from them and one from whoever has bought them, unless with it taking a while to complete the selling then it could've been down to the pi's to take up the slack?..

But considering the large amount being sold the s/p is holding up remarkably well!!!..

Thanks GB I had noticed a stream of large sells 1,000.000+ this last week which was giving me a touch of the vapours!! As per usual in this lark the P.I is the last to know.

Not a buyer in sight today by the look of it.
2517

0.87p ( 0.86 / 0.88p ) +0.035p

Volume and rising from the lows last week, looks like the MMs finally decided to let it go higher as it moves above 50 days MA

I sold off a quarter of my holdings @.9p with a bit of soul searching as I rated them highly, but I have to say their movement,or lack of it in recent months made no sense to me. Hope they start performing back to the 3p level where they should be.

another good day on the way, though low volume. maybe is coz is all buying this afternoon.

Still cannot see any reason for this sudden surge but glad to see it all the same.

Hi! Ho! its down the slide we go!!! No rhyme no reason is there a clever clog out there who can shed light on this accursed share??

"Still cannot see any reason for this sudden surge", How about the share been undervalued and is due a re-rating??...

I would expect a trickle north but these are up and down like a wh--res draws. Every time a large buy comes in it seems to closely followed by a coresponding large sell. You can write what I know about markets on the back of a very small stamp but there is usually a reason for sells and buys albeit rumours, scandal,or maybe a sniff of a profit, but this company that ticks quite a few boxes for a PI like myself, started with quite a robust performance seemed to run out of fuel for no apparent reason that I could see and quite a few false starts to its credit.

Quite an investment by Hendersons to increase their holding from 4% to 10% of the company. Hopefully they are privvy to info that I am not!!

Bit of interest this morning. Gibby have you borrowed the mule again???????

No sign of Gibby and these babies are worth about 45% of my original investment. Are these two events linked?? Maybe i should wander down to Peckham and see if he is hanging out with the Trotters, I hear say that they have a divining rod that will pick out the good uns!! I bet Gibby is there before me durn it.

hi bb - how you doing - i been working my mule hard trying to fond some good news for good old otc lol, the work was too much for the poor mule as mission impossible so on the look out for another one now!!! bumped into the trotters - they have a new offer - with each water damaged umbrella you buy of them they are giving away 1000 otc shares with it lol!! my honest opinion of otc though is good potential but that skyhigh volume of shares is a major factor keeping the sp low and lower!! i am thinking of buying more otc - but not yet - i want real rock bottom price before i buy more - so i have developed a cunning plan - i will only buy after the next very good news rns - price guaranteed to reverse on yet more good news so will be these up even cheaper LOL!!! have a great weekend and my best wishes to mrs bb

Happy Easter Gibby, Have been throwing out holdings and gradually backing out.Most of what I have now are small beer with the exception of Lloyds and OTC both of which are cause for some concern!! So my thoughts run along the lines of not throwing good money after bad. With that in mind I am looking at a gentlemens launch restoration project to keep me poor and out of mischief. Mrs BB loves it as the curtains are very in vogue!!! If I get the pile of wet wood I will sell the sailing boat and spend my remaining years in overalls regreting that I ever laid eyes on the project.Mrs BB will be bored and lonely and will take up with the local rugby club.All because OTC failed to live up to expectations. Adieu mon amie, I must go and dig out my wellies.

Hi BB - hope all good with the restoration project :-)))) Dont sell the sailing boat!! Has Mrs BB taken up with the local rugby club yet lol!! I hope OTC comes good soon - and dont blame you ref throwing good money after bad - if not careful that can be a bottomless pit as I am sure you are aware - I notice OTC continues to be red again today!!! I hope OTC and LLOY both turn it around for you - good things normally come to those who wait - take care

Good size buying and rising, rumours of good news on the way
3er day rising from lows

Hi Gibby just back from sunny Spain hoping that a break from the screen would send OTC into a frenzy!! No such luck!!Mrs BB has just viewed the relaunch of the old tub and has decreed that it is not for sale!! My offer of getting an allotment so I could come home sweating and mud coverered in lieu of the Rugger players was turned down flat!! Her opinion of the shares in general is " Leave the bloody things alone they will come right without your help!!" so I am off to practice my scrummage!! Adieu.

another stagnant month of huff and puff and no action.

Ortac Resources - Highlights from Indaba

click here

Thanks for the post< Not a lot of info from him! My view is that the original mine is all but a dead duck and they are looking to hitch the wagon to somebodies lucrative train to stay in the game?? Bodes ill my investment in the short term, but having seen it fall consistently for the past 3 years and placing it in the written off locker. Will leave it there and wait for Santa!!!!!!!!!!

Who Should Attend?Date:

Wednesday 12th August 2015

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