It appears the market doesn?t fully understand the announcement,nor has appreciated the time constraints.
Drilling was done in a short period of time in Overhangay ? the company drilled these holes some kms apart to test the ground.
all the holes were from one licence area... it was convenient to drill mainly the one licence area given the limited time.
BTE3 was drilled 2km to the west of 1 and 2 to determine the synclinal structure.
BTE4 and 5 are nearly 6km from BTE 1 and 2 ?. On just one license !!!...
The surface was truly only scratched !
it is still unknown if there are one or two or more major structures on the 2 central licenses out of the 4 in Overhangay .
There's no surface expression to help guide drilling direction - but we have found coal seams in 3 out of 6 holes in just the one licence area.
CEO ran out of time for the due diligence as it?s a week-long public holiday in Mongolia this week also didn?t help.
Looking good and worth a punt in my humble opinion - it's Mongolia and we know there's plenty of coal there and these are obviously highly prospective tenements - even more so now that we have found seams ! and all this from limited drilling.
CEO Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
