Business
Half Yearly Report
Half Yearly Report.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n \n Ortac Resources Limited 23 December 2013 \n \n\nOrtac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration\n23 December 2013\nOrtac Resources Limited \n('Ortac' or 'the Company')\nUnaudited Interim Results\nOrtac Resources Limited, the AIM listed exploration and development company currently engaged on the advancement of the Šturec precious metal deposit in Slovakia (\"Šturec\"), is pleased to announce its unaudited financial results for the six months ended 30 September 2013.\nChairman's Statement\nOver the past six months, Ortac has continued to focus on three previously highlighted areas: the technical advancement of its Šturec deposit, the evolution of the associated Šturecland investment concept, and the rationalisation and development of our portfolio of projects. \nSince the completion of the Pre-Feasibility Study in April 2013, our main technical focus has been on two milestones: the first the preparation and submission of an underground trial mining application that would also satisfy the terms of our mining license, and the second a Biodiversity Baseline Study (\"BBS\") covering an area of 50 km2 surrounding the Šturec deposit. \nAs regards the trial underground mining application, the Preliminary Environmental Report connected to this application has just recently been approved by the Slovak Environmental Office, paving the way to the final stage of this particular permit application, which will be dealt with by the Slovak Mining Bureau. At the same time, a decision from the Slovak Environmental Office is pending in connection with our earlier application for trial surface mining, and we expect this to be made during the coming period. It should be noted however, and for the avoidance of any doubt, that the Slovak Mining authorities have confirmed to us in writing, that Ortac's surface and underground rights to the Kremnica Mining area are still in place. \nAs to the BBS, this study was commissioned so to establish environmental benchmarks against which the impact of any potential investment may be assessed. The BBS has been conducted by a team of renowned Slovak specialists and contains both qualitative and quantitative surveys of flora and fauna in the study area, and we expect to be in a position to announce the results from it soon. \nBB...