This is looking a bit better this morning and proving hard to buy in.
3 Nov '12
Orsu Metals, the base and precious metals exploration and development company, has entered into an exclusivity agreement with David-Invest LLP , a Kyrgyz registered company, with a view to the potential sale of its wholly owned subsidiary Tournon Finance for $4.5m. The asset was valued at $5.88m in the company's most recent accounts. Tournon indirectly owns the Akdjol-Tokhtazan gold exploration licences in Kyrgyzstan. In return for being granted exclusivity David-Invest will fund the exploration programme for the licences on a non-refundable basis for the remainder of this year, and, if the licences are renewed, during the remainder of the exclusivity agreement period.
2 Nov '12
Orsu Metals Corporation: Update on Sale of Akdjol-Tokhtazan LONDON, UNITED KINGDOM--(Marketwire - Nov. 1, 2012) - Orsu Metals Corporation ("Orsu" or the "Company"), the dual listed (TSX:OSU)(AIM:OSU) London-based base and precious metals exploration and development company today announces that it has entered into an exclusivity agreement with David-Invest LLP ("David Invest"), a Kyrgyz registered company,, with a view to the potential sale of its wholly owned subsidiary Tournon Finance Limited ("Tournon"), which indirectly owns the Akdjol-Tokhtazan gold exploration licences in Kyrgyzstan ("Licences") through its 100% subsidiary, Oriel In Kyrgyzstan LLC ("Exclusivity Agreement"). The Company's interest in the Licences was classified as held for sale in 2011 following the board's decision to actively market the asset and focus on developing its Karchiga Project, the Company's principal copper asset in north-eastern Kazakhstan. The key terms of the Exclusivity Agreement are -- David Invest has been granted the exclusive right to purchase Tournon until 1 September 2013, subject to the renewal of the Licences which are due to expire on 31 December 2012 ("Exclusivity Period") -- in return for being granted exclusivity David-Invest will fund the exploration programme for the Licences on a non-refundable basis for the remainder of this year, and, if the Licences are renewed, during the remainder of the Exclusivity Period -- David-Invest has the option to purchase the entire share capital of Tournon at any time on or before the expiry of the Exclusivity Period for a consideration of US$4.5 million. The carrying value in the financial statements as at 30 June 2012 was US$5.88 million, and the losses attributable to the asset in the six months then ended were US$0.29 million (year ended 31 December 2011: US$0.58 million). The Company has re-measured the estimated fair value less cost to sell of the disposal group at approximately US$4.5 million, resulting in an impairment loss of US$1.3 million. The Company will apply any proceeds from a sale to working capital and identification of other early stage exploration opportunities consistent with the Company's strategy.
this has alot of potential totally over looked , brokers forecasting over 200p plus
26 Aug '12
Orsu Metals Corporation Com Npv stands out among shares of UK FTSE All Share index as it closes session with +11.11% increase. The stock opened stable against the previous close, then gradually improved during the session, finishing near its best level of 9. In the weekly comparison, Orsu Metals Corporation Com Npv's trend is more pronounced than the UK FTSE All Share trend line, revealing a greater performance when compared to the index. --------------- Have a sniff of KLG with some profits the results of 50 massive drill holes are due to start. Join the Wanchope.
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