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.

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'."