Capex Required comparison with BMV/SAU

Just thought I would drop a quick note on another AIM listed gold company to highlight their huge Capex costs compared to BMV / SAU

Company is Ortac Resources & they hold 2 Gold licences.

Absolutely amazing of how high their Capex is on the Sturec deposit, $123m for a $145m NPV value & they have a 100% wi

Even their Casa Mining Ltd 45% wi has a $87m Capex with a $171m Npv value equals a NPV for them of just $77m ($39m Capex cost for them)

Assuming thery farmed out 50% of the Sturec Deposit, they will still need to raise approx $100m Capex to cover both these 2 licences ( $61.5M + $39m)

Although their Copper mine with Zamsort at 19.35% wi is worth something at 17Mt @ 0.94% Cu works out at roughly £80m NPV or 54p Npv/share (they have a capex of $2500 p/t)


What's SAU/BMV Capex $10m to place 1 MoZ Au plus into production in stage development - even if we required another $5m for anything unexpected - $15m is tiny compared to the Gold explorers.

http://www.ortacresources.com/Ortac Factsheet.pdf