Business
Seeking to Raise Approximatel
Seeking to Raise Approximatel.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n Ortac Resources Limited 07 February 2011 \n \n\nOrtac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration\n7 February 2011\nOrtac Resources Limited ('Ortac' or 'the Company')\nSeeking to Raise Approximately £8 Million\n \nOrtac Resources Limited (AIM: OTC), the AIM listed exploration and development company focussed on precious metal projects in Europe, announces that, further to recent press speculation, it is seeking to raise approximately £8 million at 1.5p per ordinary share in order to accelerate development of the Kremnica Gold Project in Slovakia. The Company hopes to be in a position to announce full details of the placing shortly. \n \n**ENDS**\n \nFor further information please visit www.ortacresources.com or contact:\n \n\n\n\n\nVassilios Carellas\n\n\nOrtac Resources Ltd\n\n\n+44 (0) 20 7440 0646\n\n\n\n\nCharles Wood\n\n\nOrtac Resources Ltd\n\n\n+44 (0) 20 7440 0646\n\n\n\n\nRoland Cornish\n\n\nBeaumont Cornish Limited\n\n\n+44 (0) 20 7628 3396\n\n\n\n\nRosalind Hill Abrahams\n\n\nBeaumont Cornish Limited\n\n\n+44 (0) 20 7628 3396\n\n\n\n\nJeremy Stephenson\n\n\nSeymour Pierce Limited\n\n\n+44 (0) 20 7107 8072\n\n\n\n\nStewart Dickson\n\n\nSeymour Pierce Limited\n\n\n+44 (0) 20 7107 8335\n\n\n\n\nJeremy King\n\n\nOptiva Securities Ltd\n\n\n+44 (0) 20 3137 1904\n\n\n\n\nJason Robertson\n\n\nOptiva Securities Ltd\n\n\n+44 (0) 20 3137 1906\n\n\n\n\nSusie Geliher\n\n\nSt Brides Media & Finance Ltd\n\n\n+44 (0) 20 7236 1177\n\n\n\n\nLottie Brocklehurst\n\n\nSt Brides Media & Finance Ltd\n\n\n+44 (0) 20 7236 1177\n\n\n\n\n \nNotes:\nOrtac Resources Limited is an AIM listed exploration and development company focussed on the development of precious metal projects in Europe. Its focus is on the Carpatho-Balkan Metallogenic Belt, initially the Central Slovakian Volcanic Field, where its Kremnica gold deposit forms part of a large low-sulphidation quartz-sericite-adularia epithermal-hydrothermal system hosted in Tertiary andesite volcanic flows, tuffs, lesser diorites and rhyolite dikes. The Company has produced an interim JORC compliant resource statement of 1.1 million ounces of gold equivalent and has appointed Snowden Mining Industry Consultants Pty to prepare a preliminary scoping study which is expected during the course of the y...