Ortac Resources shakes mining market

Ortac Resources shares soared as investors turned their eyes on the potential of gold production in Solvakia.

The AIM-listed gold explorer lifted 22.82% to a mid of 0.635p, showing a trend of major gold companies, according to broker Seymour Pierce.

Traders are expecting good results from the 1.3m ounce turec Gold Deposit in Slovakia where the results of the pre-feasibility are due this quarter.

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The company will thereafter begin work on an environmental and social impact assessment which will enable a definitive feasibility study.

Last month the firm unveiled interim results, reporting a loss of £0.79m and a cash position of £6.7m as of September 30th.

RD