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.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

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