1st Oct 2015 07:24
LONDON (Alliance News) - AIM-listed miner Ortac Resources Ltd saw its shares rise early Thursday after it said Zamsort Ltd has raised a further USD2.0 million from Kopara Investments Ltd.
Ortac has acquired secured convertible notes in Zamsort.
The investment made by Kopara takes its stake in Zamsort up to 20% and will mean it can appoint someone to Zamsort's board. Ortac itself owns 19% of Zamsort.
"Kopara's investment is an endorsement of the quality and potential of Zamsort's licences and stands in stark contrast to the prevailing market," said Vassilios Carellas, Ortac's chief executive.
Shares in Ortac were up 18% to 0.053 pence on Thursday morning, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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