Reuters reported that Orsu Metals Corporation began a feasibility study at its sulphide copper mine in Kazakhstan to examine the use of Chinese equipment to reduce costs and seek potential customers for the copper concentrate.

The London based mineral exploration company estimates the study to cost USD 4.2 million which it will fund from available resources and expects to start construction at the Karchiga project in early 2012. The project in which Orsu has a 94.75% stake is expected to start production in early 2013.

Mr Nicholas Chalmers analyst of Canaccord Genuity said that he expects more positive news for the stock going forward. It has suffered from a lack of news over the last 12 months. He added that while the news was incrementally positive the stock still remains substantially undervalued.

(Sourced from Reuters)