Some more information to contemplate whilst we await an announcement on any deal. Not sure if this has been posted before but just in case a useful reminder:
Along with Mark Earley, Trinity Mongolia Director Robert Johansen is also a Director of Bandanna Energy (BND) according to Linkedin.
Sounds like these guys dont do thing by halves. BND hold the "largest thermal coal inventory for an exploration company in Australia" (from their website) - 1.385 billion tonnes.
An Indonesian project is also an exciting proposition. I hope the market dont get disappointed IF Indonesia is announced before Mongolia - b/c there is no need to be.
"........Even developing countries with vast quantities of coal under home soil will find themselves unable to dig it out quickly enough to meet demand. China, the world�s biggest coal producer by some distance, has turned to foreign suppliers over the past couple of years and is likely to rely on them even more in future. Its voracious appetite for energy and steel means it will need at least 5-7% more coal each year. Citigroup reckons China will import 233m tonnes in 2011. As Daniel Brebner of Deutsche Bank points out, that is considerably more than the annual capacity of Richards Bay in South Africa or Newcastle in Australia, the world�s biggest coal ports........
....Indonesia is now the biggest source of imports to China because of its proximity to the country and the high quality of its coal (see article). Indonesia has few proven reserves, but high prices may well spur further exploration. Mongolia, which is also handily close to China, and Mozambique could join Australia, South Africa and Colombia as big exporters......."
CEO Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
