logo-loader

Ortac Resources' Vasillios Carellas sees huge potential with their African assets

Last updated: 19:10 09 Oct 2017 AEDT, First published: 06:16 07 Oct 2017 AEDT

Vassilios Carellas, chief executive of Ortac Resources Ltd (LON:OTC), talks Proactive through the “extremely encouraging” results reported from Casa Mining Ltd's first two diamond core drill hole assays at the Akyanga gold deposit in the Democratic Republic of Congo.

The AIM-listed exploration and mine development company said the initial results support the existing geological and structural understanding of the gold deposit and further confirm Akyanga as an open-pit resource of over 2mln ounces.

Carellas also discusses the company's new focus on their African assets as well as the recent additions of Chairman Nick von Schirnding and non-exec Brian McMaster.

Glencore mine shutdown could prompt a near-term price hike in Cobalt

Mining Capital's Alastair Ford says the closure of Glencore’s Mutanda mine in the DRC comes in response to the collapse in the cobalt price over the last year or so. ''The price went very high in 2017 and then came back down and now it's at the $15/lb level which is where it started its rise...

on 16/8/19