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.

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yet - hear a better class of bin outside tescos but watch there security cameras dont clock you grabbing the soiled out of date food!!!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.