I realise I'm preaching to the converted, but ...
Exerpts from an interview (17/7/2012) with James Passin, founder Firebird Global Fund ...
"Mongolia is the 18th largest country in the world by size. It's sitting on the continental subduction zone between the Asian and Indian subcontinents. It hosts some of the world's most prolific mineral belts with some of the world's largest known undeveloped mineral deposits, some of which are just beginning to get into early phases of production. The exploration is just scratching the surface.
Some geologists talk about the possible existence of 20 or 30 Oyu Tolgoi-type deposits in Mongolia – not to mention the other minerals from iron to uranium to silver to molybdenum. There are also remnants of a sea, the origin of coal-bearing sedimentary basins, with projected 100 billion tons (Bt) thermal coal and 30 Bt coking coal, as well as hydrocarbon potential.
The mineral potential is already in the trillions of dollars and the true value is probably in the tens or even hundreds of trillions of dollars. It really is an incomparable destination for strategic investors.
Many of the existing surveys were conducted by the Soviet Union 50 years ago, when surveying exploration technology was quite primitive. Some of the new tools are very powerful, leading to the ability to make new discoveries and to drill to deeper targets at lower costs. New satellite tools can even conduct imagery from space.
My personal experience is that the application of modern exploration technology and practices to exploration programs in Mongolia has led to very significant discoveries. The size of Mongolia is so vast that the new generation of exploration is just starting.
In early-stage frontier markets, like Mongolia or Africa, the risk is to get in too late. Getting in too early, even with small amounts of capital, enables investors to enjoy the initial appreciation before the investment story becomes clear.
During environments of fear, uncertainty and risk aversion, that's when there are great bargains for those willing to provide capital and to finance deals and transactions. This might prove to be the historic moment to deploy capital in a country like Mongolia."
Full interview at ... http://www.resourceinvestor.com/2012/07/17/window-of-opportunity-in-mongolia-james-passin?ref=hp
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