|By Marketwired .||
|November 19, 2012 02:00 AM EST||
LONDON, UNITED KINGDOM -- (Marketwire) -- 11/19/12 -- Orsu Metals Corporation, the London-based dual listed (TSX:OSU)(AIM:OSU) base and precious metals exploration and development company, today announces that, further to its press release dated July 31, 2012, it has signed a non-binding term sheet with RK Mine Finance (Master) Fund II LP ("RK Mine Finance"), a part of the Red Kite Group ("Red Kite"). The principal terms include, subject to certain conditions:
a. Provision of sub-ordinated secured debt finance facilities of up to $25 million for the Company's Karchiga Project in Kazakhstan (see below), comprising a $15 million sub-ordinated loan and a sub-ordinated standby facility of up to $10 million, and b. An off-take agreement for 100% of any future annual production of copper concentrate at the Karchiga Project, for the life of the mine.
Dr Sergey V Kurzin, Executive Chairman of Orsu, commented: "Signing of the terms with RK Mine Finance is another significant step towards the Company's goal of starting construction at Karchiga. If completed, the RK Mine Finance debt offering, when added to the funds from the sale of Talas to Gold Fields and the potential proceeds from the $90 million senior debt facility, in respect of which Barclays and UniCredit have been appointed to arrange, completes the pre-production finance package required to achieve this."
The execution of a definitive debt finance facility and off-take agreement with RK Mine Finance (a "Definitive Agreement") is subject to a number of conditions including completion of detailed due diligence by RK Mine Finance, finalization of definitive terms, Orsu and RK Mine Finance obtaining all relevant internal approvals and other conditions consistent with a transaction of this nature. There is no guarantee a Definitive Agreement will be executed, or any funds advanced by RK Mine Finance to Orsu, on the terms currently contemplated, or at all.
About Orsu Metals Corp.
Orsu holds a 94.75% interest in a copper deposit license located in the Kurchumskiy District of the Eastern Kazakhstan Oblast, approximately 250km south-east of Ust-Kamenogorsk, and approximately 40 km from the Chinese border (otherwise known as the "Karchiga Project"). Since the filing of a NI 43-101 technical feasibility study in March 2012, available on the Company's website and on SEDAR at www.sedar.com, Orsu has been seeking to secure finance for the construction of a mine and processing facility at the Karchiga Project, with an aim to commence construction in April 2013. Orsu is managed by an experienced team of mining professionals with extensive construction, operating and financial experience.
About Red Kite
RK Mine Finance provides mining companies with project financing and metal off-take agreements for initiation or expansion of mine production and is part of the Red Kite group. Red Kite operates across the global metals industry from offices in Bermuda, Denver, Hong Kong, London, New York, Shanghai and Sydney. Investors in Red Kite funds include college endowments, foundations, family offices, pensions and other institutional investors.
FORWARD LOOKING INFORMATION
This press release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release relates, but may not be limited, to the anticipated arranging of project finance facilities by RK Mine Finance to Orsu and the entering into an off-take agreement, as well as the anticipated terms thereof, potential construction at, and production from, the Karchiga Project (as well as the timing with respect thereto and the potential proceeds from a debt facility to be arranged by Barclays and UniCredit and the sufficiency thereof along with proceeds from any debt facilities from any debt facilities by RK Mine Finance with respect to development of the Karchiga Project.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the inability of RK Mine Finance and/or Barclays and UniCredit to arrange, or obtain necessary approvals for, the project finance facilities or the failure of the proposed parties thereto to agree to the terms thereof, risks normally incidental to the development of mineral properties and operating hazards, the inability to obtain, maintain, renew and/or extend required licences, permits, authorizations and/or approvals from the appropriate regulatory authorities, including (without limitation) the Company's inability to obtain (or a delay in obtaining) the final approval from the local Kazakh authorities for, among other things, the construction of a mine and related processing facilities at the Karchiga Project, and other risks relating to the laws, political environment or regulatory framework in Kazakhstan, as well as certain other risks set out in the Company's public documents, including its annual information form dated March 30, 2012, filed under the Company's profile on SEDAR at www.sedar.com.
The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this press release, the Company has made assumptions about: the ability of RK Mine Finance's and/or Barclays and UniCredit to arrange for project finance facilities on terms acceptable to the Company; the Company's business, the economy and the mineral resources development and extraction industry in general; the Company's ability to obtain, maintain, renew and/or extend required permits, licences, authorisations and/or approvals from the appropriate regulatory authorities, including the final approval required from the local Kazakh authorities to develop the Karchiga Project as anticipated; and the ability to continue to obtain qualified staff and equipment in a timely and cost-efficient manner to meet demands. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
Orsu Metals Corporation
Chief Financial Officer and Company Secretary
+44 (0) 20 7518 3999
Canaccord Genuity Limited
+44 (0) 20 7523 8000
Vanguard Shareholder Solutions
+1 604 608 0824
RK Mine Finance
+1 (212) 596-3474
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
Feb. 25, 2017 11:00 AM EST Reads: 3,847
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business. Though, IoT is far more complex than most firms expected with a majority of IoT projects having failed. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, Chief IoTologist at Wipro, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology portfolios and business models to adopt and leverage IoT. He will delve in...
Feb. 25, 2017 10:45 AM EST Reads: 2,512
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, will discuss new ways of thinking and the approaches needed to address the emerging challenges of securit...
Feb. 25, 2017 10:30 AM EST Reads: 1,633
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Feb. 25, 2017 10:00 AM EST Reads: 5,343
As cloud adoption continues to transform business, today's global enterprises are challenged with managing a growing amount of information living outside of the data center. The rapid adoption of IoT and increasingly mobile workforce are exacerbating the problem. Ensuring secure data sharing and efficient backup poses capacity and bandwidth considerations as well as policy and regulatory compliance issues.
Feb. 25, 2017 10:00 AM EST Reads: 2,024
In his session at 20th Cloud Expo, Chris Carter, CEO of Approyo, will discuss the basic set up and solution for an SAP solution in the cloud and what it means to the viability of your company. Chris Carter is CEO of Approyo. He works with business around the globe, to assist them in their journey to the usage of Big Data in the forms of Hadoop (Cloudera and Hortonwork's) and SAP HANA. At Approyo, we support firms who are looking for knowledge to grow through current business process, where even...
Feb. 25, 2017 10:00 AM EST Reads: 862
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions with...
Feb. 25, 2017 10:00 AM EST Reads: 7,713
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Feb. 25, 2017 09:30 AM EST Reads: 2,154
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
Feb. 25, 2017 09:15 AM EST Reads: 2,139
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change the...
Feb. 25, 2017 09:00 AM EST Reads: 5,243
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Feb. 25, 2017 09:00 AM EST Reads: 1,330
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Feb. 25, 2017 09:00 AM EST Reads: 3,633
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 25, 2017 08:30 AM EST Reads: 1,058
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Feb. 25, 2017 08:15 AM EST Reads: 7,992
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Feb. 25, 2017 08:00 AM EST Reads: 5,784