Ortac increases investment in DRC-focused miner

Aim-listed exploration and mine development company Ortac Resources has increased its investment in Casa Mining, the owner of the Akyanga gold resource, in the Democratic Republic of Congo (DRC), to 13%. Ortac subscribed for 166 667 shares at a price of $0.30 apiece, for a total consideration of $50 000. In addition, for a period of two months, Ortac has the right to subscribe for a further 233 333 shares in Casa at $0.30 a share and to subscribe for any unallocated placing shares from Casa’s current placing. Meanwhile, a recent review of the Akyanga resource returned a potential resource increase to over 2.3-million ounces, at a 0.5 g/t cut-off grade – up from 1.2-million ounces from the maiden estimation.