Hi Guys,

Had a look at the above recently, and I think at the moment they offer a tremendous risk to reward ratio.

Sitting just above weekly support on the chart:




Fundamentally speaking:

They have no long standing debt concerns, and as of December last year had around £3.5m cash in hand. They have just used approx. £1m of that to buy a 26.7% stake in Andiamo Exploration (with a further option to buy 21% for $2m - or approx £1.2m).
Andiamo have a very exciting project in Eritrea, East Africa - here's the presentation:

andiamoexploration.co.uk/ESW/Files/Andia...ion_January_2014.pdf

www.shareprophets.advfn.com/views/3465/o...nvestment-considered

As well as investment into Andiamo, OTC also have their own Gold play in Slovakia, with positive Scoping Reports and a Pre-Feasibility Study carried out in 2012 and 2013 respectively.

More info can be found here:

www.ortacresources.com/operations-detail/660443-turec-project

With a wee insert:

"In April 2013 Ortac and SRK completed a PFS of the Šturec Project. The results of the PFS confirm the economic viability of the Šturec Project. Highlights of the study include: a Net Present Value (‘NPV’) at 8% discount rate (pre-tax) of US$195 million (post tax US$145 million) and Internal Rate of Return (‘IRR’) of 30%, at US$1,343/oz Au Eq net price. Cash operating costs of US$555 per oz Au Eq. Projected project life of 11 years with average annual production of 71,000 oz Au Eq and pre-production capital expenditure of US$124 million, including 15% contingency on processing and infrastructure items. In addition, the completion of the PFS enables Ortac to declare maiden JORC Code (2004) compliant ore reserves for the Šturec deposit:"

Technically speaking, once again I believe this to be a very good risk to reward play with plenty of upside and potential catalysts for a re-rating in the shareprice.

By no means a certainty, but again, more than comfortable with the investment and reasoning behind it.