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News Article | May 3, 2017
Site: www.accesswire.com

WHITE ROCK, BC / ACCESSWIRE / May 3, 2017 / Orsu Metals Corporation (TSX-V: OSU) ("Orsu" or the "Company") announces that it filed its annual audited financial statements for the fiscal year ended December 31, 2016 and the related management's discussion and analysis and annual information form on www.sedar.com on April 28, 2017. The provincial securities commissions revoked the cease trade order that was imposed on April 6, 2017 and the TSX Venture Exchange will reinstate the Company's shares to trade at the opening of trading on Thursday, May 4, 2017. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. For further information, please contact:


Lobanov K.V.,Orsu Metals Corporation | Gaskov I.V.,RAS Institute of Geology and Mineralogy
Russian Geology and Geophysics | Year: 2012

The Karchiga copper massive sulfide deposit is located in the Kurchum block of high-grade metamorphosed rocks. This block is part of the Irtysh shear zone, which belongs to the largest transregional fault in Central Asia. The deposit is associated with the gneiss-amphibolite middle unit of the metamorphic complex, which is distinct in the geochemical fields. The mineralization is spatially and paragenetically related to the amphibolite beds, which are ore-bearing together with terrigenous rocks.The deposit contains two spatially isolated lodes, in which all the discovered commercial reserves concentrate. They conformably overlie the host rocks and are tabular or ribbonlike. The mineralization has a close spatial relationship with Mg-rich anthophyllite-containing rocks. The sulfide ores are disseminated or massive and comprise pyrite, chalcopyrite, pyrrhotite, sphalerite, and magnetite. The ore is of Zn-Cu composition, in which Cu dominates considerably over Zn (average contents 2 and 0.4%, respectively; Cu/(Cu + Zn) = 0.83). The ores are rich in Co (up to 0.16%, averaging 0.02%), poor in Au and Ag (0.3 and 7.2 ppm, respectively), and almost free of Pb and Ba.All the rocks and ores experienced epidote-amphibolitic metamorphism. Meanwhile, the ores experienced a recrystallization and partial regeneration, but the initial shape of the lodes remained unchanged.The essentially chalcopyritic ores, the volcaniclastic ore-bearing rocks, and the spatial and genetic relationship of the mineralization with undifferentiated mafic and siliciclastic rocks suggest that this deposit belongs to the Besshi type, formed in a back-arc environment, near large rises.The studies show that Besshi-type Cu-Zn massive sulfide deposits differ from most of the polymetallic (Kuroko-type) deposits in Rudny Altai in the composition of volcanics and geodynamic settings, but belong to the same evolutionary series in this VMS province. Both types of deposits might have formed in the Paleozoic, during the main peak of VMS generation in the Earth's history. © 2011.


Lobanov K.,Orsu Metals Corporation | Yakubchuk A.,Orsu Metals Corporation | Creaser R.A.,University of Alberta
Economic Geology | Year: 2014

For the first time in the Rudny Altai, we propose to distinguish Besshi- and Kuroko-type deposits, previously considered as members of a single massive sulfide-polymetallic group. The ores of the two deposit types differ in mineral composition, with pyrite-pyrrhotite-chalcopyrite ± sphalerite mineralization in the Besshi-type deposits versus pyrite-sphalerite-galena- chalcopyrite-gold mineralization in the Kuroko-type deposits. The Besshi-type deposits are restricted to the Irtysh terrane and associated with deformed and metamorphosed (greenschist to mid-amphibolite facies) mafic-siliciclastic rock sequences. This contrasts with the well-preserved Kuroko-type deposits, hosted in bimodal volcanic sequences in the Devonian-Carboniferous Rudny Altai magmatic arc. Our U-Pb, 40Ar/39Ar, and Re-Os isotope dating of sulfides and host rocks of the Besshi-type deposits suggests that they were probably formed during the early Paleozoic in a back-arc rift setting. They were then metamorphosed during Devonian times within the accretionary wedge in front of the Rudny Altai arc, synchronously with formation of the Kuroko-type deposits. © 2013 Society of Economic Geologists, Inc.


Yakubchuk A.,Orsu Metals Corporation | Stein H.,Colorado State University | Wilde A.,Paladin Energy
Ore Geology Reviews | Year: 2014

The pilot study with Re-Os dating of sulfides from Sukhoi Log and Olympiada gold deposits revealed early Paleozoic ages of the auriferous sulfides from the two largest orogenic gold systems in the Neoproterozoic orogens of the Baikalides framing the Siberian craton. The age-dating results indicate that gold mineralization is therefore epigenetic. The formation of the dated orogenic gold deposits is synchronous with some regional metamorphic events in the Baikalides, at least in case of the Sukhoi Log deposit. The metamorphic events occurred in the rear parts of the early Paleozoic magmatic arcs, where coeval subduction-related magmatism produced porphyry copper-(molybdenum) mineralization. © 2013 Elsevier B.V.


News Article | February 21, 2017
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 21, 2017) - Orsu Metals Corporation (TSX VENTURE:OSU) ("Orsu" or the "Company") announced on January 26, 2017, the conditional transfer (the "Transfer") of its 94.75% participation interest ("the "Interest") in GRK MLD LLP ("MLD") to Karasat Trading FZE ("Karasat"). The Transfer took place in Almaty, Kazakhstan on January 25, 2017. Orsu transferred the Interest to Karasat and the Transfer was duly registered with the Kazakhstan authorities. The purchase price for the Interest was to be paid by Karasat after the registration of the Transfer with the Kazakhstan authorities and upon release of funds from Karasat's bank financier. The assignment deed evidencing the assignment of the USD 7,740,770 inter-company debt will only become effective upon Orsu's receipt of the USD 7,650,000 purchase price. Receipt was expected not later than February 15, 2017 and Karasat has now informed Orsu that it needs additional time. Orsu is in discussion with Karasat regarding the terms and consideration for any additional time Orsu may grant and Orsu will assess that proposal against its legal options of recourse available to it. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement: This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the receipt of, and the timing of, the balance of the USD 7,650,000 proceeds from the sale of Karchiga. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.


LONDON, UNITED KINGDOM--(Marketwired - Nov. 11, 2016) - Orsu Metals Corporation ("Orsu" or the "Company") a London-based base and precious metals exploration and development company, listed on TSX (TSX:OSU), today reports its unaudited results for the nine months ended September 30, 2016 ("Q3 2016"). A full Management's Discussion and Analysis of the results ("MD&A") and Consolidated Financial Statements (Unaudited) for Q3 2016 (the "Financials") will soon be available on the Company's profile on SEDAR (www.sedar.com) or on the Company's website (www.orsumetals.com). Copies of the MD&A and Financials can also be obtained upon request from the Company Secretary. The Financials have been prepared in accordance with applicable International Financial Reporting Standards ("IFRS"). All amounts are reported in United States Dollars ($) unless otherwise indicated. Canadian Dollars are referred to herein as CAD$ and British Pounds Sterling are referred to as GBP£. The following information has been extracted from the MD&A and the Financials. Reference should be made to the complete text of the MD&A and the Financials. The Company is currently in the process of disposing its two most advanced projects in the Republic of Kazakhstan (or "Kazakhstan"), as described below. In addition, in September 2016, the Company completed the disposal of its Akdjol and Tokhtazan exploration licenses (the "Akdjol-Tokhtazan Project") within the Kyrgyz Republic (or "Kyrgyzstan"), as described below. The Company plans to utilise the sale proceeds from the successful disposal of its Kazakh projects for the potential acquisition of an exploration license situated in the Mogocha District of the Zabaikal'skiy region of the Russian Federation (the "Sergeevskoe Project"). In April 2016, the Company entered into two separate agreements with Karasat Trading FZE ("Karasat"), a company registered in the United Arab Emirates, for the sale of the Company's two projects in Kazakhstan consisting of the Karchiga Project and the Kogodai Project (both defined below). The Company's principal and most advanced project comprises a license area in eastern Kazakhstan containing the copper bearing Karchiga volcanogenic massive sulphide ("VMS") deposit which is part of the Rudny Altai polymetallic belt (the "Karchiga Project"). Since 2012, the Company has been seeking to secure the funding required for the construction of a mine and processing facilities at the project. However, due to the continuing adverse economic environment during this period the Company was unable to secure the necessary funding required. As a result, the Company considered alternative solutions which resulted in the Company entering an agreement to sell its 94.75% interest in GRK MLD ("MLD"), which owns the Karchiga Project, to Karasat for a consideration of $7.75 million (the "Karchiga Transaction") subject to various conditions (as set out in the MD&A). The Kogodai Project comprises the exploration project for a prospect 70 km north west of the Karchiga Project identified as a VMS copper mineralization within the Kurchum-Kalzhir metamorphic terrain, the same tectonic unit that hosts the Karchiga deposit (the "Kogodai Project"). The Company entered a separate agreement with Karasat to sell its effective 51% interest in the Kogodai Project for $10,000 (the "Kogodai Transaction") subject to certain conditions (as set out in the MD&A). For Q3 2016 the Company reported a net comprehensive loss of $1.3 million, compared to a net loss of $2.6 million for the nine months ended September 30, 2015. In April, the Company announced the sale of both the Karchiga Project and the Kogodai Project and thus the net assets and liabilities in relation to both projects as at September 30, 2016 have been classified as "Assets held for sale" and separately the combined net losses of the Karchiga Project and Kogodai Project disclosed as "Disposal group assets held for sale" for the nine months ended September 30, 2016 and 2015 (see below). In August, the Company completed the disposal of the Akdjol-Tokhtazan Project and recorded a net gain on disposal of $0.5 million for the nine months ended September 30, 2016. In September 2016, the Company entered the Sergeevskoe Agreement for the potential acquisition of the Sergeevskoe Project and incurred initial exploration expenditures of $26,000 for Q3 2016. As at September 30, 2016 the Company had net assets of $10.9 million ($12.2 million as at December 31, 2015) of which $3.1 million was held in cash and cash equivalents ($4.7 million as at December 31, 2015). As at September 30, 2016 the Company's main source of liquidity was unrestricted cash and cash equivalents of $3.1 million, compared with $4.7 million as at December 31, 2015. During the nine months ended September 30, 2016 the net cash used by the Company's operating expenditures was $1.5 million, compared to $2.1 million for the nine months ended September 30, 2015. The minimum working capital the Company estimates for 2016 is set out below: This press release and the Company's MD&A contains or refers to forward-looking information. All information, other than information regarding historical fact that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future is forward-looking information. Such forward-looking information includes, without limitation, statements relating to: the estimate, use and sufficiency of the Company's working capital and the Company's ability to fund its working capital requirements; the potential disposition of one or more of the Company's exploration interests or exploration projects as well as the seeking of business opportunities other than such exploration projects; the potential raising of additional funding through the Sale and Purchase Agreement for the disposition of the Karchiga Transaction and the Kogodai Transaction and the proposed uses and allocation thereof; the Company's determination that the Kogodai Project is in good standing and not at risk from default; the proposed terms and conditions of the Sergeevskoe Acquisition; the anticipated trend of decreasing administration expenditures; and the Company's future growth (including new opportunities and acquisitions) and its ability to raise or secure new funding. The forward-looking information in this press release and the Company's MD&A reflects the current expectations, assumptions or beliefs of the Company based on information currently available to the Company. With respect to forward-looking information contained in this MD&A, the Company has made assumptions regarding, among other things, the Company's ability to generate sufficient funds from debt sources and/or capital markets and the sale of properties to meet its future expected obligations and planned activities, the economy and the mineral exploration and extraction industry in general, available historical information will be useful to the Company's evaluation of the geological and metallurgical risks for the Sergeevskoe Project; the political environments and the regulatory frameworks in Kazakhstan and Kyrgyzstan with respect to, among other things, the mining industry generally, royalties, taxes, environmental matters and the Company's ability to obtain, maintain, renew and/or extend required permits, licenses, authorisations and/or approvals from the appropriate regulatory authorities, including the previous waiver granted by the relevant ministry in Kazakhstan, currently the Competent Authority, which covers any pre-emptive right that the Competent Authority or State has in respect of any past placements, future capital, operating and production costs and cash flow discounts, anticipated mining and processing rates, assumptions relating to the Company's critical accounting policies, and has also assumed that no unusual geological or technical problems occur, no material adverse change in the price of copper, gold or molybdenum occurs and no significant events occur outside of the Company's normal course of business. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realised or substantially realised, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: completion of the Karchiga Transaction and the Kogodai Transaction; uncertainty of capital and operating costs, adverse changes in commodity prices; the inability of the Company to obtain required financing for its planned activities; the inability of the Company to obtain required financing on favourable terms at all or arrange for the disposition of, and find potential buyers for, the Company's exploration interests or exploration projects; the negotiation and execution of the Sergeevskoe Agreement before the expiry of the exclusivity period; unsatisfactory due diligence results, the failure to obtain the necessary approval of the Russian Federation for the transfer of ownership of the Sergeevskoe Project, the failure to obtain approval of the Sergeevskoe Acquisition by Orsu shareholders, the failure to obtain the required authorizations and/or approvals from the TSX; the Company's inability to obtain, maintain, renew and/or extend required licenses, permits, authorizations and/or approvals from the appropriate regulatory authorities, adverse changes in the political environments in Kazakhstan and Kyrgyzstan and the laws governing the Company, its subsidiaries and their respective business activities; inflation; changes in exchange and interest rates; adverse general market conditions; lack of availability, at a reasonable cost or at all, of equipment or labour; the inability to attract and retain key management and personnel; the possibility of non-resident class members commencing individual claims in connection with the Claim; the possibility of non-compliance with environmental or other applicable laws and regulations; the Company's inability to delineate additional mineral resources and mineral reserves; and future unforeseen liabilities and other factors including, but not limited to, those listed under the "Risk and Uncertainties" section of the Company's annual MD&A. Any Russian style A, B, C1, C2 and P category figures referred to herein are historical estimates and no assurances can be given that the indicated levels of minerals will be verified and/or produced. Such estimates made at a given time may significantly change when new information becomes available. By their nature such estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. Due to the uncertainty that may be attached to such estimates, it cannot be assumed that all or any part of such estimates will be upgraded to mineral resource because of continued exploration. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether because of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.


News Article | December 21, 2016
Site: marketersmedia.com

WHITE ROCK, BC / ACCESSWIRE / December 21, 2016 / Orsu Metals Corporation ("Orsu") (TSX:OSU) announces that, in its continuing efforts to reduce its general and administrative overhead, it has moved the financial and corporate office from the UK to Canada given that it is no longer listed on the AIM marketplace in London and is only listed on the Toronto Stock Exchange in Canada. Orsu has engaged Golden Oak Corporate Services Ltd., a consulting company controlled by Doris Meyer, the recently appointed Corporate Secretary of the Company. Effective December 30, 2016, Golden Oak will now also provide the services of Dan O'Brien, appointed by Orsu to the role of Chief Financial Officer. Dan O'Brien is a member of the Chartered Professional Accountants of British Columbia. He is also Chief Financial Officer for a number of publicly listed exploration companies trading on the TSX and TSX Venture exchanges. Mr. O'Brien was previously a senior manager at a leading Canadian accounting firm where he specialized in the audit of public companies in the mining and resource sector. Orsu also announces the retirement of Massimo Carello as a director to take effect on December 30, 2016. Mr. Carello has been with Orsu since 2008 and the Board of Orsu takes this opportunity to thank him for his many years of service and guidance to Orsu during his time. Orsu also takes the opportunity to thank the two UK based employees, Kevin Denham, the former Chief Financial Officer, and Sailesh Mistry, the former Controller of Orsu, for their years of service and commitment to Orsu. For further information, please contact: WHITE ROCK, BC / ACCESSWIRE / December 21, 2016 / Orsu Metals Corporation ("Orsu") (TSX:OSU) announces that, in its continuing efforts to reduce its general and administrative overhead, it has moved the financial and corporate office from the UK to Canada given that it is no longer listed on the AIM marketplace in London and is only listed on the Toronto Stock Exchange in Canada. Orsu has engaged Golden Oak Corporate Services Ltd., a consulting company controlled by Doris Meyer, the recently appointed Corporate Secretary of the Company. Effective December 30, 2016, Golden Oak will now also provide the services of Dan O'Brien, appointed by Orsu to the role of Chief Financial Officer. Dan O'Brien is a member of the Chartered Professional Accountants of British Columbia. He is also Chief Financial Officer for a number of publicly listed exploration companies trading on the TSX and TSX Venture exchanges. Mr. O'Brien was previously a senior manager at a leading Canadian accounting firm where he specialized in the audit of public companies in the mining and resource sector. Orsu also announces the retirement of Massimo Carello as a director to take effect on December 30, 2016. Mr. Carello has been with Orsu since 2008 and the Board of Orsu takes this opportunity to thank him for his many years of service and guidance to Orsu during his time. Orsu also takes the opportunity to thank the two UK based employees, Kevin Denham, the former Chief Financial Officer, and Sailesh Mistry, the former Controller of Orsu, for their years of service and commitment to Orsu. For further information, please contact:


News Article | December 21, 2016
Site: www.accesswire.com

WHITE ROCK, BC / ACCESSWIRE / December 21, 2016 / Orsu Metals Corporation ("Orsu") (TSX:OSU) announces that, in its continuing efforts to reduce its general and administrative overhead, it has moved the financial and corporate office from the UK to Canada given that it is no longer listed on the AIM marketplace in London and is only listed on the Toronto Stock Exchange in Canada. Orsu has engaged Golden Oak Corporate Services Ltd., a consulting company controlled by Doris Meyer, the recently appointed Corporate Secretary of the Company. Effective December 30, 2016, Golden Oak will now also provide the services of Dan O'Brien, appointed by Orsu to the role of Chief Financial Officer. Dan O'Brien is a member of the Chartered Professional Accountants of British Columbia. He is also Chief Financial Officer for a number of publicly listed exploration companies trading on the TSX and TSX Venture exchanges. Mr. O'Brien was previously a senior manager at a leading Canadian accounting firm where he specialized in the audit of public companies in the mining and resource sector. Orsu also announces the retirement of Massimo Carello as a director to take effect on December 30, 2016. Mr. Carello has been with Orsu since 2008 and the Board of Orsu takes this opportunity to thank him for his many years of service and guidance to Orsu during his time. Orsu also takes the opportunity to thank the two UK based employees, Kevin Denham, the former Chief Financial Officer, and Sailesh Mistry, the former Controller of Orsu, for their years of service and commitment to Orsu. For further information, please contact:

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