Checking in18 Nov 2018 15:19
Well, Orsu still sit under the radar which, from a UK perspective, is hardly surprising since the company delisted from AIM. However, things have moved on significantly with the drilling campaign and I confess that it has surpassed what I was anticipating. They have drilled more than anticipated and some of the results are excellent. It will be good to see the resource statement that is being produced for part of the property and, significantly, how much will be in the measured and indicated categories (I am not expecting a great deal but indications are that the 40m spacing of some of the drilling will be sufficient for some).
The market capitalisation here is still very low for what looks like a decent property with good infrastructure and other mines (suspended or otherwise) literally sitting next door. As such, this can hardly be described as a 'wild cat' operation and should be rated more highly even considering investors aversion for Russian assets.
Still holding and expect this to come good once the gold price starts moving ahead in anger (I am expecting a 'wash out' low at some point in the not too distant future but I expect 2019 and onwards to be very good for gold prices).