Ortac Zambia Investment is Paying Off. New Investment into Zamsort, set to edge the Kalaba Copper stockpile project into production

Cash is king on AIM and the news out this morning by Ortac Resources is a welcome development for investors as the Kalaba copper stockpile project under the development by local copper company Zamsort which Ortac are a major investor in, receive a vote of confidence in the project as the latex investor Kopara, is seeing what I have seen all along. Kalaba is a great project. The mining risk has been taken away, its simple stockpile processing and with the cash this will bring, will help open up what is a huge copper asset, just waiting for decent exploration attention. With Ortac's strong geological team there to support Zamsort, Ortac is one of the few AIM plays that has a real opportunity to secure cash earnings in the near term. Shares in Ortac rose 88% on this news.

RNS is below

Ortac Resources Ltd., the AIM listed exploration and mine development company, is pleased to announce that Zamsort Limited ("Zamsort"), a company in which Ortac has acquired secured convertible loan notes, has raised a further US$2 million from Kopara Investments Limited ('Kopara'). 

This investment into Zamsort takes Kopara's interest in the share capital of Zamsort to 20% and extends the right for Kopara to appoint a director to the board of Zamsort, to represent its interests. 

Vassilios Carellas, Ortac CEO, commented: "Kopara's investment is an endorsement of the quality and potential of Zamsort's licenses and stands in stark contrast to the prevailing market. It provides further support for Ortac's US$1.2 million investment into Zamsort loan notes, which if converted will provide Ortac with a 19.35% interest in the share capital of that company. 

"Over the last six months, Zamsort has raised US$3.2 million in order to develop its licenses located in the copper belt. Zamsort is now better positioned to rapidly proceed with the development of a mining operation at its Kalaba deposit and commence initial exploration activities in the rest of its exploration license."