Ann: Quarterly Activities Report , page-6

Mongolia seems to have dropped below the radar ( no mention in the quarterly report).

For the first time they mention negotiations with a large state enterprise as a potential joint venture partner.

Does that mean there could first be an announcement of successful acquisition of the exploration licence and at a later date announcement of a JV agreement to exploit the coal deposit ?

As usual there is no indication of tbe scale of the thermal coal project which precludes any estimation of what it could mean to the share price.

I also see that the Brits hammered the shares yesterday and they closed in London at their cash value !