Ortac raises its gold estimates

AIM-listed gold explorer Ortac Resources said yesterday its reserves in a Slovakian mine are over 40 per cent more than thought. The Kremnica gold mine is now thought to contain around 1.1m ounces and Ortac said it will now ramp up work to bring the project into full production. But the shares plunged 21 per cent to 2.2p as the update disappointed investors hoping for a more lucrative find.