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.

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