Ortac confirms tighter focus as it reports half year results

Ortac Resources incurred a £304,000 loss (2016: £253,000) in the six months to 30 September 2017.

It raised £2m in May 2017 to help fund growth plans which are now focused on African mining exploration assets, specifically in the DRC and Zambia.

Ortac increased its investment in Casa Mining with the purchase of a $2m convertible loan note in May 2017. Since the half year period end, Ortac has acquired control of Casa and made an offer for the remaining shares.

The company remains in talks with various parties about the future of its Slovakian exploration property, Sturec.

At 8:07am: (LON:OTC) Ortac Resources Ltd share price was +0.38p at 2.75p