The misery of the junior mining markets has caused pain for many but it also gives an opportunity to those with cash…step forward Ortac Resources (OTC) which has today announced a very interesting little deal which could be a real winner.
At 0.24p Ortac is capitalised at just £5.4 million. Its main focus was and – having chatted to Ortac boss Vassilios Carellas over the weekend - still is Slovakia. In that country it has – at Sturec- a JORC compliant gold resource of 873,000 oz. and has completed a PFS. Progress on developing a clearly commercial mine has been delayed by bearded eco-loons who prefer trees to jobs but I am led to believe that progress is being made on that front and we will have news in 2014.
But Carellas is an opportunist.