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.

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??