We should remember that today's 20 minute presentation was aimed largely at the Mongolian pollies who were present (including a couple of important 'railway heavies') and, IMO, it was right on strategy.
Aspire's rail project gives the government the opportunity to offset some of the bad foreign press they're getting over Oyu Tolgoi, Chalco etc and to show that they welcome/support 'third neighbour' miners who can genuinely add value to the impoverished North. It also wouldn't hurt to show their constituents that they're keen to actually do something to improve their harsh existence.
Highlighting the benefit to Mogoin Gol (51% owned by the Province) was a nice touch - presumably they'll get a discount freight rate.
I also liked the point made about access to Russia (as distinct from the ever-dominant Chinese).
Like all of the recent announcements, the presentation probably won't affect the SP, but then again, I doubt whether a $10 T/O offer would either.
Chin up.
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