JOHANNESBURG (miningweekly.com) – In a new chapter for Aim-listed Ortac Minerals, the company is changing its name to Arc Minerals and will start trading under the new name on January 22.
The renaming follows a number of material changes that have been implemented, including executing a strategy to focus on its African exploration assets, executive chairperson Nick von Shirnding explained on Friday.
“Having made major strides in consolidating and advancing our highly attractive gold prospect at Casa, we are now actively pursuing discussions with fellow stakeholders at Zamsort, which is an attractive Zambian copper/cobalt asset,” he said.
The company in November announced an offer to buy an additional 33.82% of the issued share capital of Casa, taking its shareholding to 70.09%, and also stated its intention of making an offer for the balance of the issued share capital of Casa. Casa owns the Misisi gold project, in the Democratic Republic of Congo.
Besides its African portfolio, Ortac also owns the Kremnica mining licence area, in Slovakia.