Ortac Resources

Published : July 11th, 2016

Update - Slovakia

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Keywords :   Jersey | Slovakia |

Update - Slovakia

Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration

ORTAC RESOURCES LTD

('ORTAC' OR THE 'COMPANY')

Update - Slovakia

Ortac Resources Ltd, the AIM listed exploration and mine development company, is pleased to report the positive conclusion to a judicial proceeding brought against the District Environmental Office ('DEO') in Ziar nad Hronom for a decision made in favour of the Company.

Vassilios Carellas, Ortac's CEO, commented:'It is sometimes necessary for exploration and development companies to navigate local opposition to new projects. With such a backdrop, it is extremely promising to see the regional court rule in favour of the environmental office, but it is even more encouraging to see that the application submitted by the Company has passed such rigorous scrutiny by both the environmental office and the regional courts.'

Background

These judicial proceedings relate to an underground mining application submitted in 2014 for which the DEO approved the application. Following this, an appeal was lodged in the regional court in Banska Bystrica by a local NGO group and the local municipality against the DEO. The Company has been informed that the regional court dismissed the appeal. Further judicial proceedings with respect to a decision made by the Central Mining Bureau for the same application are currently underway and a decision is expected in due course.

The Company has also been advised by its lawyers that it has recently been cleared to proceed with a surface mining application which had been held up by the actions of local opposition groups.

**ENDS**

Contacts

Ortac Resources Ltd

Vassilios Carellas (CEO)

+44 (0) 20 7389 9050

SP Angel (Nominated Adviser & Broker)

Ewan Leggat / Tercel Moore

+44 (0) 20 3470 0470 / +44 (0) 20 7382 8300

Beaufort Securities (Joint Broker)

Jon Belliss / Elliot Hance

+44 (0) 20 7382 8300

Yellow Jersey (Media Relations)

Dominic Barretto

+44 (0) 7768 537 739

For additional information please visit - www.ortacresources.com

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Jersey | Slovakia | All
Gold and Silver Prices for these countries : Jersey | Slovakia | All

Ortac Resources

EXPLORATION STAGE
CODE : OTC.L
ISIN : VGG6829M1005
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Ortac Resources is a gold development stage company based in United kingdom.

Its main exploration properties are RUSKÁ BYSTRÁ, PORUBSKY POTOK, CINOBANA, CEJKOV, ZLATÁ BANA, SMOLNIK, BYŠTA SKÁROŠ and KREMNICA MINE in Slovakia and RIO PARANAIBA in Brazil.

Ortac Resources is listed in United Kingdom. Its market capitalisation is GBX 781.3 millions as of today (US$ 884.6 millions, € 724.0 millions).

Its stock quote reached its highest recent level on September 07, 2007 at GBX 7.25, and its lowest recent point on February 27, 2017 at GBX 0.02.

Ortac Resources has 318 888 193 shares outstanding.

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Corporate news of Ortac Resources
7/11/2016Update - Slovakia
6/29/2016Update on investment into Casa Mining Limited, DRC
5/12/2016Grant of Share Options
1/28/2016Director Shareholding
1/28/2016Director Dealing
12/30/2015Interim Results
10/29/2015Trench Results from the Kalaba Open Pit, Zambia
10/22/2015Result of AGM
10/22/2015Directorate Change
10/21/2015Placing & Issue of Equity
10/1/2015Zambia Update
9/24/2015Annual Financial Report
9/24/2015Final Results
8/25/2015Investment into Zamsort Limited
8/14/2015Corporate Presentation
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