Business
Further investment in Andiamo Exploration
Further investment in Andiamo Exploration.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n \n Ortac Resources Limited 18 March 2014 \n\nOrtac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration\n \n18 March 2014\n \n \nOrtac Resources Limited ('Ortac' or 'the Company')\nOrtac increases its stake in Andiamo Exploration Ltd to over 18%\n \nOrtac Resources Limited ('AIM: OTC) today announces it has completed payment of the second tranche of the conditional subscription agreement, entered into with Andiamo Exploration Ltd. ('Andiamo') as per the Company's announcement 13 January 2014. As a result of a further US$500,000 investment into Andiamo, Ortac's stake now stands at 18.85% (6.66 million shares) and puts the Company's total investment into Andiamo at US$1million.\n \nVassilios Carellas, Ortac CEO, commented: \n\"The investment of the second tranche into Andiamo, follows a recent site visit by the Company. The drill program, targeting the copper and gold mineralization, is now well underway and we look forward to seeing the results.\"\n \n**ENDS**\n For further information please visit www.ortacresources.com or contact:\n \n \n\n\n\n\nOrtac Resources Ltd \nVassilios Carellas (CEO)\n \n\n\n+44 (0) 20 7389 9050\n\n\n\n\n\n\n\n\n\n\n\n\nCantor Fitzgerald Europe (Nominated Adviser & Broker)\nStewart Dickson/ Catherine Leftley / Jeremy Stephenson \n \n\n\n+44 (0) 20 7894 7000\n\n\n\n\nRFC Ambrian Limited (Broker)\nJonathan Williams \n\n\n+44 (0) 20 3440 6800\n\n\n\n\n\n\n\n\n\n\n\n\nBlytheweigh \nTim Blythe / Halimah Hussain / Camilla Horsfall\n\n\n+44 (0) 20 7138 3204\n\n\n\n\n \n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCJPMFTMBIBMMI\n\n","length":3951,"tagName":"div"}]