Ortac Res. Share Discussion Threads

[2pablo] 05/1/2016 09:44

TeaBiscuit - well you're right we don't yet have any equity in Zamsort just our Secured Loan notes :
"the total invested by Ortac in Zamsort to $1.2 million and, upon conversion of the loan notes, Ortac's potential shareholding in Zamsort would be 19.35% of the issued share capital of Zamsort." Not sure if previously stated 2015 production but now mid-2016 I believe.

Surely the plan is to convert the loan notes to stock sooner rather than later (not sure of exact length of loan notes. We always have said this was a quick project to earn money from and VC in latest interview intimated he thought a possible Major buyout was possible - that'd give us cash cause we'd convert just before takeover in that instance.

Anyway, it's moving, which is more than can be said for Slovakia. I'm here as a long-term (disaster) holder of several years and I must say I'm glad they diversified or we'd be looking at liquidation IMO soon. As it is, Zamsort with Andiamo provide some action and promise for the company going forward.

[teabiscuit] 04/1/2016 23:04

2 Pablo, thanks for the clarification. Wasn't the Zambian project supposed to be producing by the end of 2015? Given that OTC doesn't have any equity in Zamsort, will there ever be any cash coming into the company apart from the coupon payment on the loan note?

[2pablo] 04/1/2016 14:06

TeaBiscuit - well spotted should have read £182,000 as of 30 Sep 2015. The Sep 2014 figure read £1,131,000

Interims and VC interview by Share Prophets seems to have gone down well though.

[teabiscuit] 04/1/2016 12:27

@s_e you mention in your post: "At 30th September 2014, Ortac reports a cash balance of £182,000." Do you/ SPAngel mean 2015 or are you all living in a dim and distant past?

[s_e] 04/1/2016 11:20

Today's Market View Including KEFI Minerals, Ortac Resources, SolGold and Vast Resources
Share
11:53 04 Jan 2016

Ortac Resources* (LON:OTC) 0.045p, mkt cap £1.9m – Interim Results and Operational Update
• Ortac Resources reports a sharp fall in the level of losses for the 6 months period ending 30th September 2015. The company reports a total loss for the period of £251,000 compared to £1,177,000 for the six months ending 30th September 2014.
• The result reflects a 44% decline in administrative expenses to £432,000 from £774,000 as a result of cost rationalisation in Slovakia and in London plus a reversal of currency translation differences from a loss of £386,000 in 2014 to a gain of £91,000 in 2015.
• The company has raised £1m gross during the period as a result of two private placings in July and October respectively. In July, Ortac raised £600,000 at 0.085p/share to finance its initial investment in the private Zambian company, Zamsort. The £400,000 funding in October “to maintain liquidity and further develop our existing portfolio of mineral projects” was completed at 0.05p/share. At 30th September 2014, Ortac reports a cash balance of £182,000.
• Operations in Slovakia have now been temporarily suspended as a result of “recent judicial challenges made against the Slovak Mining Bureau in connection with earlier decisions made in Ortac’s favour” although the company stresses that the “reserve remains viable at current metal prices using standard and EU compliant extraction technology.” The company continues, however, “to operate the mining museum where visitors are taken underground to appreciate the rich mining heritage of Kremnica.”
• The company is now focussing its efforts on its investments in Zambia and Eritrea where there is the prospect of near term production.
• In Eritrea, the company holds a 25.37% interest in Andiamo Exploration which is drilling a volcanigenic massive sulphide target (VMS) at Hoba in the northern part of the Haykota licence area. The company also expects “that Andiamo will release a Maiden JORC Code compliant resource estimate and results from other technical studies at the Yacob Dewar gold deposit shortly.”
• In Zambia, Zamsort has renewed its Small Mining Licence for a further 10 years and has commenced construction of “a commercial scale demonstration plant” at it Kalaba copper/cobalt property which covers a prospective copper/cobalt mining and exploration licence in north-west Zambia located some 40 km from First Quantum Minerals’ Trident project. Zamsort expects to commission the plant in Q2 2016 and “Zamsort expects that this plant will generate sufficient revenue to fund exploration at its Large Prospecting Licence” .
Conclusion: Ortac is working to contain its costs while refocussing its efforts on near term production opportunities in Africa. The possibility of sufficient production to fund a continuing exploration programme of a highly prospective licence in Zambia by mid-2016 and the release of an initial resource estimate from Eritrea suggests that the market may receive positive news flow from Ortac Resources during the first half of 2016.
*SP Angel acts as Nomad and broker to Ortac Resources

[peterz] 31/12/2015 12:06

up 28%. A good start.

[parsons] 31/12/2015 09:18

richgit is quite right it is all down to timing. I have this week increased all my GOLD holdings by averaging down !!!! but this just could be the time we have all been waiting for. Remember we should have 10% of our assets in GOLD as an insurance policy. If it happens sorry WHEN it happens 10% will be enough IMHO

[jim200] 21/12/2015 18:28

Love that report richgit

[richgit] 21/12/2015 11:05

Whilst it has been well hidden,in Fraud & Manipulation,from Joe Bloggs-which includes the blinkered Slovaks (yet probably not Government ).


The only true Money that can support assetless and debt encumbered currencies- is GOLD ,which all the Central Planners know,but don`t want you to know.

A reminder that had you converted $Dollars into Gold at $250oz circa 1998/99
your Gold would still buy 4 times the amount of $Dollars you converted.

In time that will reach 10 times and longer term possibly 80 Times !!

Imagine how much sub prime property you will be able to buy with Gold when the
next property crash comes.


That`s longer term after the consequences of deflation then leading to inflation
and the Central Planners losing control of their hapless 2% inflation.



Meanwhile Gold has to travel in its now Supercycle from $1000/$1100 to its first base.

Once it hits a firm $1200 Joe Bloggs will wake up,so it will not require $1900.


Remember- Paper Gold is NOT Gold and now with a 300-1 leverage there virtually isn`t any fraction of Gold backing left- paper Gold is "PAPER"and no truly shrewd investor wants paper- No Gold.

OTC have some interesting situations and no doubt sufficient to fire up buying
when Gold finally makes a "firm" move- yet if Turec comes good at that time then
the stock will run faster than the shorts can close,or PI`s can buy.

A very interesting risk/reward for an affordable stake to just tick away



IMHO.

[greenrichard] 20/12/2015 19:14

Administration

[peterz] 20/12/2015 09:56

So what do we have to look forward to with Ortac ??

[richgit] 19/12/2015 19:39

2016 is looking like the year Physical Gold finally dictates to Paper Gold Fraud.

Could OTC rise beyond belief in 2016 ?

I daresay it will only require $1200 Gold to discover whether naked shorts
are back.

[teabiscuit] 17/12/2015 15:53

0.03p bid. It needs someone special to sort out this company. Jose Mourinho is available.

[lawrence23] 04/12/2015 07:08

With all the bad weather it seems that ortec has no office.it has either blown away or washed away ,it's a little like our investment.

[jim200] 17/11/2015 12:11

Few decent buys going through though

[wooster4] 17/11/2015 11:39

V difficult to determine current trading - with the recent placing, these shares being traded is simply churn.

[peterz] 17/11/2015 11:19

Some one just bought a few!!

[greenrichard] 16/11/2015 17:33

Director's buys vs Director's salaries? How much does OTC spend on salaries each year.

[wooster4] 15/11/2015 18:30

Directors buying in every placing - they can't be excused of not having confidence. Unfortunately, this is the biggest mining depression in living history so everything gets hammered. Given the paltry mkt cap, this could be a huge performer when the markets change ... Whenever that may be.

[overdale123] 05/11/2015 15:26

F....d. Thanks Ortac for, now literally, nothing!

[dicko80] 25/10/2015 20:33

You trust someone until proven otherwise

Unfortunately that lasted a couple of weeks in this case and the worst bit, the placing was prob in progress at the time

What a crock of ....