how much are we worth, page-82

Okay prepare to do some reading NRU holders.....

Recently I have been speculating on whether or not we own the Kuru-Tegerek deposit.

I have been trying to find more info on Kuru-Tegerek and what has happened to it over the years and how it possibly could of landed in the hands of Posit Resources. See what I have found below.

We know that the Kuru and Sulu Placer project will only be 51% owned by Posit and that a MOU has been negotiated as per the gold acquisition announcement. I believe this is because Kuru-Tegerek deposit is extremely valuable.

Eurasion minerals the prior owners of Kuru-Tegerek defined a resource in March 2005. See announcement

http://www.eurasianminerals.com/s/NewsandInfo.asp?ReportID=103295

Important parts was the defined resource size quoted below.

"The Kuru Tegerek South Deposit measured and indicated resource has been estimated as 9.2 million tonnes with average grades of 1.53 grams/tonne gold and 0.53 percent copper, yielding 460 thousand ounces of gold and 108 million pounds of copper as reported by Behre Dolbear and Company, Inc."

After progressing Kuru-Tegerek.. Eurasian Minerals decided to sell the asset. See below.

"In the Kyrgyz Republic, EMX advanced the Kuru Tegerek gold-copper project and achieved a number of technical and corporate milestones. EMX's success in advancing the Kuru Tegerek project attracted a number of potential business partners, and in December EMX sold its Kyrgyz subsidiary Kichi Chaarat JSC, the holder of the Kuru Tegerek exploration and mining licenses, subject to certain terms and conditions."

http://www.eurasianminerals.com/s/NewsandInfo.asp?ReportID=167339

Then it was confirmed via announcement that the subsidiary was sold on April 02, 2007. Link provided.

"The Company has completed the sale of its Kyrgyz subsidiary, Kichi Charat JSC, which holds the Kuru Tegerek exploration and mining licenses. The sale of Kuru Tegerek was previously announced in EMX's press release dated January 19, 2007. For further details of the transaction, please refer to the Company's interim financial statements and Management's Discussion & Analysis for the quarter ending December 31, 2006."

http://www.marketwire.com/press-release/EMX-Acquires-Treuil-Copper-Porphyry-Project-In-Haiti-TSX-VENTURE-EMX-643639.htm

Then some how it came into China Shen Zhou Mining & Resources posession. Possibly they were the ones who purchased it in the first place.

"In November 2007, We completed the acquisition of Tun-Lin Co. Ltd, a company that exists under the law of the Republic of Kyrgyzstan, which owns the 100% of the equity in Kichi Chaarat, which major asset is the subsoil use right for (i) mining for gold, copper and other metals within the Kuru-Tegerek licensed area; and (ii) exploration for gold, copper and other metals within the Kuru-Tegerek licensed area."

http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=5862979-141676-186322&SessionID=KSI8HWLVFy3Q5m7


They then upgraded the resource to the following. I have only just found this info out. It was upgraded in C1+C2 estimates.

"The Kuru-Tegerek Copper-Gold (Cu-Au) deposit, located in western Kyrgyzstan, includes 172.7 million tonnes (Mt) (C1+C2) with a contained metal content of 97.36t for gold, 1.02Mt for copper and 97t for silver.
- The Molybdenite ore body in Kuru-Tegerek also contains resources (C2) of molybdenum and rhenium which contain 4,883t of Molybdenum (Mo) and 2,328 kilograms (kg) of Rhenium (Re)."

http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=5559314-5373-13867&SessionID=Z118HqxOZWQKms7


Then China Shen Zhou Mining & Resources later sold the asset only recently in Sept 2009 due to the GFC.

"Due to the financial crisis, it was extremely difficult to raise funds. The mine was not ready for mining at the same time. After careful consideration and investigation, the Board of Directors of the Company decided to sell the entire equity in Tun-Lin Co. Ltd. and the Kichi Chaarat Copper and Gold Mine on September 21,2009.

On September 21, 2009, Xiangzhen Mining and Fortune Pegasus International Limited signed an equity transfer agreement. Xiangzhen Mining sold the entire equity in Tun-Lin Co. Ltd to Fortune Pegasus International Limited. On November 20, 2009, the sale of Tun-Lin was closed."

Link provided.

http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=7158784-123685-154690&SessionID=qZe2HSCK0t9qrl7


Now..thats where the trail stops. Im trying to discover how the licenses came into Posits hands..but from the looks of it the last owner to get their hands on Tun-Lin Co. Ltd which owned Kuru-Tegerek is Fortune Pegasus International Limited.

Is it possible Posit have done the MOU with Fortune Pegasus International Limited. They have done an MOU with someone as it clearly states this in the acquisition announcement. Posits interest in the Kuru/Sulu placer project being 51%.

It is important to note the Kuru-Tegerek project mentioned above is just one of the projects. I am researching heavily into it as I think this one project is pretty significant. The C1+C2 resource estimates are massive so I would love to link this to Posit....unfortunately for me I couldn't find the final link to the puzzle and I'm still speculating that this is in fact the deposit we have acquired. If you read this entire post..then wow..you read too much just like me lol