north again, page-8

It reminds me a bit of asx listed ceo which had a run from 2cents to 15cents just on the basis of acquiring coal leases in mongolia. Another asx listed mongolian coal company was taken over last year.

I guess mongolian coal companies are pretty well placed and this one definitely poised to run. The buyer are kept coming with bigger bids and there are not many sellers on the sell side. There is a ration of 3:1 buyer seller ratio purely extreme high demand vs supply with high volume.

They have already found coal of good quality while drilling without enough Its now a matter of how much? Also interesting to note that the phase one program was without the geophysics and was considered very successful. The second phase drilling has been suggested by a mongolian professor with already three hits out of three which is 100 success. They are drilling few more holes there.

Cash may be as issue as they only left with less than a million in bank but the options exercisable at 3cents in June are already in money so that will provide a bit of a cash.

All good in my opinion!