Sign up
Mining Capital
EPIC: OTC
Market: AIM
52-week High/Low: 5.25p / 2.18p
Sector: Mining
Market Cap: 4.84M

Ortac Resources Ltd’s flagship asset is its 1.32 million ounce gold project in Slovakia. It has also diversified its portfolio through its investments in:

  • Andiamo Exploration Limited, a private company with high-grade gold-copper exploration projects in Eritrea.
  • Zamsort Limited, a private company with copper licences in Zambia.
  • Casa Mining Limited, a private company with gold assets in the DRC

Ortac Resources Ltd

www.ortacresources.com

Interactive graph

col 3
col 4
col 5
col 6

Big picture - Why invest in Ortac Resources Ltd

Ortac Resources Ltd Snapshot

The Company is focused on financing and developing projects in the natural resource sector. Using industry knowledge, and project development and technology expertise, we identify new business opportunities and develop sustainable solutions to mobilise the economic and human potential of resource assets. In partnership with local communities, we co-create projects that deliver robust investment returns while respecting the criteria of socially responsible investment.  We create value by implementing innovative and sustainable solutions for the development of natural resources.

Licences in Slovakia
In addition to the Kremnica Mining Licence Area, located in central Slovakia close to the town of Kremnica and 17km west of central Slovakia's largest city, Banská Bystrica, Ortac holds the Lutila Exploration licence, affording it the rights to explore an area to the south of Kremnica Mining Licence Area.

Kremnica Mining License Area
Mining Re-established: In June 2014, and after a gap of nearly 20 years, Ortac was successful in re-establishing mining operations on the Kremnica Mining License area. Ortac now has the right to operate a small scale underground mining operation on the Mining License area.
Šturec Project - Ortac’s 100% owned vision for the future development of the Kremnica Mining License Area.

 Andiamo Alliance

Andiamo Exploration Limited is a private company based in London, exploring for resources in Eritrea, East Africa and can be found here: http://andiamoexploration.co.uk/. Andiamo is focused on Volcanogenic Massive Sulphide (VMS) and gold deposits in Eritrea, East Africa and in 2014, Ortac Resources invested US$1.5 million for a 26.7% holding. Owing to take up of subscription rights by existing shareholders Ortac’s stake was reduced to 25.37%

Between 2009 and January 2014, Andiamo raised approximately US$10.6MM to fund its exploration program in the highly prospective Bisha Belt and drilling results have revealed high grade copper and gold at its flagship Yacob Dewar Gold Project.
Andiamo holds the Haykota Licence which is 252km2 and has several prospects for Volcanogenic Massive Sulphide (VMS) and copper-rich disseminated sulphide mineralisation, with near surface gold enrichment.

Zamsort Limited


In March 2015, Ortac entered into a Secured Convertible Loan Note and a Call Option Agreement with Zamsort Limited, a private company located in Zambia. Under the terms of these agreements, an initial subscription by Ortac of US$600,000 Secured Convertible 8% Loan Notes will provide Ortac with a non-dilutable 10.71% stake in Zamsort. Subject to further due diligence by Ortac, under the terms of its one year Call Option Agreement, Ortac may subscribe a further US$600,000 in 8% loan notes to Zamsort, increasing its stake in Zamsort to a non-dilutable 19.35%.


Project
The Zamsort licenses are located in north west Zambia, 800km from Lusaka and 200km from Solwezi. The Small-Scale Mining Licence (SML) has estimated oxide resource of 16.59Mt @ 0.94% copper equivalent (non-JORC). The large prospecting license (LPL) covers an area of approximately 995km2 and is owned 100% by Zamsort. The current LPL encompasses 7 of the top 10 high priority exploration targets identified through the JV prior to Anglo American exiting the country in 2001.


The license area is prospective for copper and cobalt. In addition, nickel and molybdenum have been reported in the historical work conducted in this area. On the east side of the Kabompo Dome lies the Kalumbila prospect (First Quantum’s Enterprise and Sentinal mine development projects) and further to the east are Barricks’s Lumwana mine and First Quantum’s Kansanshi mine, which together contribute more than 80% of Zambia’s copper production.


Location
The licenses are located on the north western trending arm of the Lufilian arc, an orogenic belt stretching from Angola through DRC and Zambia. All known copper and cobalt deposits in Zambia and DRC lie within this belt.
The large prospecting license (LPL) covers an area of approximately 995km2 and is owned 100% by Zamsort.

 

The license comprises prospective Upper and Lower Roan series sedimentary rocks that overlie the older basement rocks on the west side of the Kabompo Dome.

Background
Contained within the larger LPL is the 4km2 Kalaba small-scale mining licence (SML) area. This prospect contains non-compliant oxide mineral resources of 16.59Mt @ 0.94% copper ('Cu') equivalent. These non-JORC compliant resources were estimated based on limited exploration drilling carried out during the late 1990's by Equinox Minerals Limited ('Equinox') and Anglo American Prospecting Services ('AAPS') by way of the Zambezi Joint Venture ('JV') through AAPS's affiliate Zamanglo Prospecting Ltd ('Anglo American') during the late 1990s as part of the Kabompo Property.

Anthony Balme
Executive Chairman

Anthony Balme is Chairman of Carter Capital Ltd and AMC Ltd, both private UK investment companies, and Forum Uranium Corp, a TSX quoted exploration company. He has extensive European and North American finance experience linked to the resource sector.

Paul David Heber
Non-Executive Director

Mr Heber was formerly an investment manager and stockbroker with over 25 years’ experience in global equity markets, Paul managed over £120m for an international but predominantly Southern African clientele at bespoke boutique Savoy, SG Hambro's, Nat West and W.I.Carr, registered in both London and Johannesburg.

Vassilios Carellas
Chief Executive Officer

Vassilios Carellas is a geologist by profession with extensive experience gained in the mining and exploration industry in Central Asia. Prior to joining Ortac Resources (UK), Vassilios held the post of Managing Director of Kryso Resources plc, an AIM listed company that he co-founded and listed in 2004.

Senior Managment

Owen Mihalop
Technical Consultant

Mr. Mihalop has over 15 years broad based experience in the mining industry both in Europe and internationally.

 

Hugo Green
In-Country Advisor

Hugo Green is based full-time in Slovakia and has extensive experience working in Central Europe, having spent more than 15 years living in the region working with major financial and accounting firms.

Shareholders
Shareholder No. of Shares % holding
JIM NOMINEES LIMITED 1,309,028,540 15.94%
FISKE NOMINEES LIMITED 858,500,000 10.45%
BARCLAYSHARE NOMINEES LIMITED 792,223,580 7.65%
HARGREAVES LANSDOWN (NOMINEES) LIMITED 660,072,967 8.04%
TD DIRECT INVESTING NOMINEES (EUROPE) LIMITED 657,458,280 8.00%
HSDL NOMINEES LIMITED 453,548,874 5.52%
SVS (NOMINEES) LIMITED 333,976,000 4.07%
INVESTOR NOMINEES LIMITED 317,122,066 3.86%
BEAUFORT NOMINEES LIMITED 290,014,656 3.53%
WINTERFLOOD SECURITIES LIMITED 255,663,846 3.11%

 

Directors Shareholdings
Directors Name Number of Shares %
Anthony Balme 828,890,249 10.09
Vassilios Carellas 77,000,000 0.94
Paul Heber 45,000,000 0.55


  

Ortac Resources Ltd.

Craigmuir Chambers

Road Town

Tortola

British Virgin Islands

VG 1110

 

Bratislava Representative Office

C/o St. Stephan Gold s.r.o.

Konventna 9

Bratislava 81103

Slovak Republic

 

Ortac Resources Plc.

Level 3,

97 Jermyn Street

St James's

London

SW1Y 6JE

Nominated Advisor & Joint Broker
SP Angel Corporate Finance LLP
Prince Frederick House
35-39 Maddox Street
London
W1S 2PP
spangel.co.uk

Tel: 0203 470 0470
Fax: 0207 493 0250

Joint Broker
Beaufort Securities Ltd
63 St Mary Axe
London
EC3A 8AA
beaufortsecurities.com

Tel: 020 7382 8300
Fax: 020 7382 8400

Joint Broker
Peterhouse Corporate Finance Limited
15 Eldon Street
London
EC2M 7LD
www.pcorpfin.com/

Solicitors (English Law)
Kerman & Co LLP
200 Strand
London WC2R 1DJ
www.kermanco.com

Legal Counsel (British Virgin Islands)
Harneys
Criagmuir Chambers
PO Box 71
Road Town
Tortula VG1 110
Bristish Virgin Islands
www.harneys.com

Legal Counsel (Slovakia)
Majernik & Mihalikova
Cukrova 14
811 08 Bratislava
Slovak Republic
www.mmlaw.sk/

JUDr. Lubomir Ivan
Dukelskych hrdinov 22
960 01 Zvolen
Slovak Republic

Reporting Accountants (UK)
PKF Littlejohn
1 Westferry Circus
Canary Warf
London E14 4HD
www.littlejohnllp.com/

Reporting Accountants (Slovakia)
L’udovit Petras
Moyzesova 38
040 01 Košice
Slovakia
www.ludovitpetras.sk

Principal Bankers
Bank of Scotland
33 Old Broad Street
The City
London, EC2N 1HW
www.bankofscotland.co.uk

Registrars
Computershare Investor Services (Jersey) Ltd.
PO Box 329, Queensway House,
Hilgrove Street, St Helier,
Jersey JE4 9XY
www.computershare.com

Depositary
Computershare Investor Services PLC
The Pavilions
Bridgwater Road
Bristol
BS99 6XJ
www.computershare.com

 

Ortac Resources Ltd Timeline

View All

Market Reports Including OTC

VIEW ALL

Executive video interviews

VIEW ALL VIDEOS

© mining Capital 2017

Mining Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed mining companies to interact with institutional and highly capitalised investors.
Headquartered in London, Mining Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.