Proactive Investors - Run By Investors For Investors

Ortac’s stake in Casa Mining increases, offer still open

Ortac's offer for Casa Mining remains open and acceptances are now coming in on a daily basis
gold bars
Ortac is slowly consolidating its control of Casa's sizeable gold resource

Ortac Resources Ltd's(LON:OTC) stake in Casa Mining has increased from 84.7% to 87.4%, as the company continues with its offer to acquire all the issued shares of Casa.

Casa Mining holds potentially lucrative gold ground in the Democratic Republic of Congo which already boasts a significant resource.

READ: Ortac Resources focused on gold potential in DRC

If Ortac’s offer is accepted by all shareholders of Casa, then a total of 100 mln new ordinary shares will be issued to Casa shareholders.

On 10 November 2017, Ortac made an application for a block admission of 100,000,000 New Ordinary Shares to trade on the AIM market of the London Stock Exchange plc and these shares were admitted to trading on AIM on 15 November 2017.

To date, Ortac has issued 77,597,646 New Ordinary Shares pursuant to the acquisition of Casa and the Offer, so up to 22,402,354 New Ordinary Shares potentially remain to be issued under the Block Admission.

READ: Ortac moving closer to full ownership of Casa Mining

The offer remains open until 10 May 2018 and acceptances continue to be received daily.

View full OTC profile View Profile

Ortac Resources Ltd Timeline

November 06 2017

Related Articles

picture of copper kettle
August 31 2017
Junior might have three mines in operation by the end of 2017
Impact’ Dr Mike Jones details technical review of Pilbara conglomerate-hosted gold in Proactive Q&A
October 22 2017
We are joined exclusively by Dr Mike Jones to discuss conglomerate-hosted gold.
Intermin Resources: Access latest PPT from Proactive's CEO Sessions
April 13 2017
Jon Price talked funding drilling program in world-class region with investors.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use