of all postings yours' is closest to my understanding of the delay..on the other hand think realistically about the normal operating environment for the business we are in -with challenges from nature to man-made obstacles [just ask WA miners about red tape] -let alone the extra challenges of operating in remote areas like Mongolia... One thing i would say , having now gone through two back door listings and am in process of putting my own projects together , i would go private equity every time and then at the right time consider an IPO and not necessarily in oz.
Regarding the size of the CR - if ME has projects to be acquired and developed where each dollars raised can produce 10 dollars of shareholder value , then the CR quantum is in not so long run a trivial issue ..
First important milestone is end Q1 2012 with initial resource statement for Overhongoi .. Secondly when we read the independent report next week and in particular the comments on the South Gobi licenses , a known coal producing region the instos will know it for what it is prospectively. and finally Mark Earley has worked in Indonesia for more than 30 years -in my view we can reasonably assume that something of significance is afoot there..main difference between Mongolia and Indonesia is that what costs a million in the former costs 5 million in the later
CEO Price at posting:
6.5¢ Sentiment: LT Buy Disclosure: Held
