Orsu Metals seeks $90 million of financing via Barclays, UniCredit

By Lisa Kerner

Charlotte, N.C., July 31 - Orsu Metals Corp. appointed Barclays Bank plc and UniCredit Bank Austria AG as lead managers to arrange a project finance facility of up to $90 million.

Funds will be used to finance Orsu's Karchiga Project in Kazakhstan, according to a company news release.

The company is in "continuing discussions with a number of potential subordinated debt providers to participate in the debt financing alongside Barclays and UniCredit," the release said.

Orsu said it would like to start construction on the project in the second half of this year.

Based in London, Orsu Metals is a base and precious metals exploration and development company.

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