logo-loader

Ortac Resources raises £600,000 to increase stake in Zamsort

Published: 00:50 03 Jul 2015 AEST

The CEO of Ortac Resources (LON:OTC), Vassili Carellas,  tells Proactive Investors that, despite challenging conditions in the market,their placing of £600,000 was oversubscribed. And he believes that the recent difficult market conditions have, paradoxically, created unprecedented opportunities for small companies like Ortac.

The placing now means that Ortac can take up its call options to increase its stake in the Zambian E&P company, Zamsort. Carellas believes that this licence has huge potential.Mining permits have already been granted and limited production of copper is already taking place. The next stage is to finalise some more technical studies.

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