ORSU Builds Kyrgyzstan Asset

Orsu Metals (TSXV:OSU) announced results from a 43-101 compliant scoping study for the Tadybulak Gold-Copper-Molybdenum Porphyry Deposit in Kyrgyzstan.

The numbers are interesting:

• Average annual production of more than 240,000 oz gold, 26,000 t copper and 900 t molybdenum;
• US$516 million initial CAPEX;
• US$815 million pre-tax NPV7.5;
• 24.7% pre-tax IRR (using US$1,150/oz Au, US$3.00/lb Cu, US$15/lb Mo);
• 17 years life of mine;
• 6 years payback from start of construction.

The stock surged 20% to $.30 on the news, and has since pulled back along with other copper and gold exploration companies amid rumours of a cooling Chinese economy.

Orsu has 40% interest in this open pit mine project which is located 250km west of the Kyrgyz capital of Bishek.

Orsu specialises in extracting metals from remote central Asian countries. Its Executive Chairman, Dr. Sergey Kurzin built Urasia Energy into a $3 billion uranium producer.

Judging from Orsu's modest market cap of $41 million, there is significant doubt that Kurzin can operate in a politically volatile country rife with ethnic tensions. But Orsu has a technical team on the ground in Kyrgyzstan who are currently advancing the project with no operational set-backs.

In fact, according to the 2009 World Bank Report, Kyrgyzstan is the most conducive country in Central Asia for doing business.

Last summer's cultural tensions between the Kyrgyz and the Uzbeks have now subsided. The dictatorial former President, Kurmanbek Bakiyev has left the country and moderate President Roza Otunbayeva oversaw a peaceful democratic election.

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