RNS

RNS Number : 1418Y
Ortac Resources Limited
01 December 2017
 

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

 

1 December 2017

ORTAC RESOURCES LTD 

("ORTAC" OR THE "COMPANY")

 

Board Appointment

 

Ortac Resources Ltd is pleased to announce the appointment of Michael Foster to its Board of Directors as a Non-Executive Director, as of 01 December 2017.

 

Michael is the Founder and Executive Chairman of CASA Mining Limited.  Before this he was the non-executive Chairman of Copperbelt Minerals Limited, a private company that discovered a copper-cobalt deposit in the Democratic Republic of Congo and was sold in 2012 for $191 million. He has also held senior roles at a number of businesses on AIM and was Managing Director of Reunion Mining PLC, a Main Market listed Africa focused mining and exploration company, with assets in Namibia and Zimbabwe. Michael holds an MBA in in Business Studies from the London Business School and has a B.Sc (Hons) in Geology from the University of St Andrews, Scotland.

 

Nick von Schirnding, Chairman of Ortac, commented:

 

"I welcome Michael to the Board of Ortac.  He brings significant mining experience to Ortac and has extensive knowledge of operating in the DRC as one of the founders of CASA Mining, which Ortac is acquiring, and has an intricate understanding of the business and the geology.  I look forward to working with Michael as we develop the CASA project."

 

Contacts

Ortac Resources Ltd

Nick von Schirnding (Chairman)

 

+44 (0) 20 3874 8664

SP Angel (Nominated Adviser & Broker)

Ewan Leggat / Lindsay Mair / Soltan Tagiev

 

Celicourt Communications (PR)

Mark Antelme / Jimmy Lea

+44 (0) 20 3470 0470

 

 

+44 (0) 20 7520 9261

 

 

 

About Ortac

 

Ortac Resources Limited is an AIM listed exploration and mine development company focused on a diversified portfolio of mining projects with interests in Slovakia, Eritrea, the Democratic Republic of the Congo and Zambia. 

 

Ortac's current holdings include:

·     A recently announced, and in the process of completion, offer to acquire all the outstanding shares in CASA Mining Limited;

·     A 14 percent equity interest in Zamsort Limited, a private company focused on a prospective copper and cobalt licence in Zambia, with the c. 6 percent balance and interest (convertible note) being rolled forward to the end of 2018;

·     100 percent ownership of the Kremnica Mining Licence Area in Slovakia;

·     An 18.48 percent interest in Andiamo Exploration Limited, a private company exploring for resources in Eritrea.

 

For more information visit www.ortacresources.com

 

Appendix:

 

Michael James Elliot Foster, aged 66, currently holds or has held the following directorships and partnerships in the last five years:

 

Current Directorships

Past Directorships

Casa Mining Ltd

Copperbelt Minerals Ltd

Premier African Minerals Limited

 

F2D Minerals Limited

 

 

This announcement sets out all of the disclosures required pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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