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orsu metals corp (OSU) Snapshot

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Market Cap
4.6M
Average Volume 10 Days
30.3K
EPS TTM
C$-0.04
Shares Outstanding
182.7M
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orsu metals corp (OSU) Details

Orsu Metals Corporation explores for and develops base and precious metal deposits. The company primarily explores for copper and gold deposits. It principally holds interest in the Karchiga project consisting of the Karchiga volcanogenic massive sulphide deposit, located in eastern Kazakhstan. The company was formerly known as European Minerals Corporation and changed its name to Orsu Metals Corporation in June 2008. Orsu Metals Corporation is headquartered in London, the United Kingdom.

38 Employees
Last Reported Date: 03/24/14

orsu metals corp (OSU) Top Compensated Officers

Executive Chairman
Total Annual Compensation: $234.7K
Chief Financial Officer and Company Secretary
Total Annual Compensation: $195.6K
Chief Operating Officer and Director
Total Annual Compensation: $234.7K
Technical Director
Total Annual Compensation: $208.7K
Compensation as of Fiscal Year 2013.

orsu metals corp (OSU) Key Developments

Orsu Metals Corporation Receives All Final Assay Results for the 2014 Scout Drilling Programme at its Kogodai Volcanogenic Massive Sulphide Copper Prospect in Northeast Kazakhstan

Orsu Metals Corporation announced that the company has received all final assay results for the 2014 scout drilling programme at its Kogodai volcanogenic massive sulphide copper prospect in northeast Kazakhstan (the "Kogodai Prospect"). The Kogodai Prospect is located approximately 70 km north west of the company's Karchiga Project in Kazakhstan. It shares similar geological characteristics with Karchiga, including similar metamorphic stratigraphy, consisting of sandwiched amphibolite and gneiss. In October to early November 2014, Orsu drilled five scout diamond drillholes totaling 457 m. The main objective of this drilling programme was to assess the style and quality of mineralisation. The metamorphosed volcanogenic disseminated to semi-massive sulphide mineralisation at the Kogodai Prospect is controlled by the lithological contacts between gneiss and amphibolite layers at several stratigraphic levels within the metamorphic sequence. Near surface, sulphides are oxidised to a depth of approximately 30 m. The mineralised zone was traced during Soviet times in the greater than 0.1% Cu geochemical anomaly for 2,000 m and remains open to the east and west. No work has been conducted by Orsu to confirm this geochemical anomaly. The Soviet drillholes C-89 and C-75 traced the sulphide mineralisation for 500 m downdip at a variable angle of 45 to 70 degrees. The best mineralisation intercepted by the Soviet drilling was contained in drill hole C-91, with two mineralised intervals within a package of 27 meters from 39.5 to 66.5 meters: 7 meters grading 0.86% Cu (from 39.5 to 46.5 meters), and 11 meters grading 0.77% Cu (from 54.5 to 65.5 meters), including 4 meters grading 1.1% Cu (from 61.5 to 65.5 meters). Orsu drilled Hole KDDD14-1 approximately 50 m east and along strike from Hole C-91 and intercepted eight mineralized intervals, varying in drilled width from 0.6 to 6.5 m (0.3% Cu cutoff) within a wider mineralized envelope of sulphides. From Hole KDDD14-2 in the west to Hole KDDD14-5 in the east there is a documented increase in grade, thickness and number of mineralised intervals. The company has interpreted that mineralisation was confirmed by Soviet and company's drilling over a strike length of 700 m from drill holes C- 75 and C-89 in the west to drill hole KDDD14-5 in the east. It is further interpreted that all drilling to date was performed on the western flank of the mineralised system, which remains open to the east and downdip. The drillcore logged by Orsu revealed that sulphide mineralisation consists primarily of chalcopyrite and pyrite, with malachite, chrysocolla and sometimes native copper identified within the oxide mineralisation. The mineralisation appears to dip at 60 to 70 degrees to the north. Although in Orsu holes it was intercepted at shallow depth, in Soviet drill hole C-75, 2.8 m of mineralisation grading 0.64% Cu from 287.7 to 290.5 meters, confirmed a downdip continuation of mineralisation for approximately 500 meters. Two hundred and fifty three samples, including 20 standards and 10 duplicates, were prepared from the intervals hosting semimassive and disseminated sulphide mineralisation. All samples were submitted to the ALS Kazakhstan laboratory in Auezov, Zharma district, East-Kazakhstan, and assayed in the ALS laboratory in Chita, Russian Federation. The laboratories are part of ALS Minerals Division, a certified international laboratory, which specialises in assays for base and precious metals and is independent of Orsu. Copper was assayed using the standard ME-ICP technique with a detection limit of 1 ppm. Gold and silver were analysed using the standard atomic absorption technique with detection limit of 0.01 ppm Au and 0.5 ppm Ag. All sampling procedures and drill core logging were reviewed by Alexander Yakubchuk, a qualified person from Orsu (under guidelines set out in NI43-101) ensuring samples are taken and results from the laboratory are checked in line with NI43-101 guidelines. A stringent QA/QC programme has been put in place to satisfy NI43-101 and JORC requirements. Core samples have been collected continuously from the visually identifiable intervals mineralised with massive and/or disseminated sulphides, including at least 5 meters of host rock above and below such intervals. Blank samples have been inserted every 9th to 19th sample depending of the sampled width, but before standards. Standards have been inserted, on average, every 10th and 11th or 19th and 20th sample within the sample number sequence for the drill core. Assay duplicate samples were selected from quarter core on a random basis from both mineralised and unmineralised intervals, and usually inserted after the standards. The results of duplicate assays were confirmatory.

Orsu Metals Corporation Announces New Exclusivity Agreement for Potential Sale of Akdjol-Tokhtazan Project

Orsu Metals Corporation announced that it has entered into a new conditional exclusivity agreement with David-Invest LLP and a related company, David Way Limited with a view to the potential sale of its Akdjol and Tokhtazan gold exploration licences in Kyrgyzstan. The company has re-negotiated the terms of the Exclusivity Agreement previously agreed with the Potential Buyers and, in particular, the purchase price of the Akdjol-Tokhtazan Project has been increased to USD 5 million (from USD 4.5 million). The key terms of the Exclusivity Agreement are: the Potential Buyers have been granted an exclusive right to purchase the Akdjol-Tokhtazan Project until April 7, 2015 (the "Exclusivity Period") conditional upon the Potential Buyers continuing to fund the costs of maintaining the licence; the Potential Buyers have the option to purchase the Akdjol-Tokhtazan Project at any time on or before the expiry of the Exclusivity Period for a consideration of USD 5.0 million. The previous non-refundable deposits of USD 400,000 received by the Company during 2014, will be applied against the consideration in the event of any sale.

Orsu Metals Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Orsu Metals Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net loss attributable to owners of the parent of $1,038,000 or $0.01 per basic and diluted share against $2,401,000 or $0.01 per basic and diluted share a year ago. For the nine months, the company reported net loss attributable to owners of the parent of $3,269,000 or $0.02 per basic and diluted share against $4,313,000 or $0.03 per basic and diluted share a year ago. Net cash used by operating activities was $2,663,000 against $5,261,000 a year ago. Expenditures on property, plant and equipment was $124,000 against $1,358,000 a year ago.

 

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