Proactive investorsLogo Proactive Investors UK Website

Search field
Additional information
Additional Information
Market: AIM, TSX
Sector: Gold Mining
Epic: OSU
News: Latest news
Web Site: Orsu Metals
Other Articles: 08-01-2009

RSS - Subscribe to the News Today on Proactive UK ▼

Wednesday March 17, 09:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

Wednesday March 17, 09:25Wise-Owl puts speculative buy on Magma Metals

In the "Small-Cap Spotlight", as featured in the Australian, by Wise-Owl.com’s Tim Morris, runs the ruler over Magma Metals.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Monday March 15, 09:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

FULL ARTICLE ►
Orsu Metals

Orsu Metals

Orsu Metals Corporation is a new, dual listed (AIM & TSX), London-based base and precious metal mining, production, exploration and development company which is operating the Varvarinskoye open pit copper-gold mine in northern Kazakhstan and exploring advanced staged gold deposits in the Tien Shan gold belt in the Kyrgyz Republic, one of the largest and most prolific gold belts in the world and the Rudny Altai copper belt in the Republic of Kazakhstan.

Orsu was formed in June 2008 after the acquisition of Lero Gold Corporation by European Minerals Corporation.
Thursday, January 08, 2009

Orsu Metals gets 3-months extension for debt repayment deadline

Orsu Metals said its existing lending syndicate, comprised of Investec Bank Ltd, Nedbank Ltd and Natixis Bank, has conditionally approved a three months extension of the deadline for its principal debt payment of US$16.65 million to March 31 2009.


The extension is conditional upon Export Credit Insurance Corporation, South Africa (ECIC"), agreeing to this extension which is expected shortly.


This extension is expected to provide Orsu sufficient time to finalise its ongoing funding arrangements. As at September 30 2008, a total of US$61.0 million long-term debt had been drawn down under the Varvarinskoye limited recourse project finance debt facility with the lenders, of which US$36.1 million is due within one year, including a first tranche of US$16.65 million which was due December 31 2008.


As partial consideration for the extension, Orsu will issue to the lenders an aggregate of 5,000,000 common share purchase warrants. Each warrant will entitle the holder to purchase one common share of the company at a price of CDN$0.1 for a period of 24 months.

AddThis Feed Button
Register here to be notified of future Orsu Metals articles.

Other Orsu Metals news

More news ►

Investors interested in Orsu Metals recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.