No worries, Yeh there is alot of money going into infastructure and building up the country. AKM will likely imo end up building there own power station to run there operation. Similar to MMC, Mongolia also just borrowed 500m dollars from china.
Aspire Mining Ltd announced it has lifted production expectations for its northern Mongolia Ovoot coking coal project's production target following wash yield analysis that has confirmed theoretical 80% yield at an 8% ash content. The results have been collated from 90% of samples taken in the 2010 exploration program.
The production target for Stage 2 was increased to 12 million tpa from 10.5 million tpa. The revised target assumes run of mine coal of 15 million tpa which would position Ovoot as one of the largest coking coal mines gradually.
The company has entered into an agreement with Sedgman Ltd to assist with an initial wash plant scoping study. Sedgman will also run coal preparation plant modeling simulations and evaluate washing plant circuit options. Also Wood Mackenzie, a world leading specialist in coal market research, has been appointed a marketing consultant.
Aspire Raises Production http://www.azomining.com/news.aspx?newsID=4349
Aspire increases Ovoot coking coal output target SteelOrbis (registration) - ?Jun 24, 2011? On June 24, Australia-based, Mongolia-focused coking coal explorer Aspire Mining Limited announced that it has increased the production expectations for its wholly-owned Ovoot Coking Coal Project (Ovoot) located in northern Mongolia, ... Aspire lifts Mongolian coking coal output target to 12 mil mt/year http://www.steelorbis.com/steel-news/latest-news/aspire-increases-ovoot-coking-coal-output-target-608959.htm
Platts - ?Jun 24, 2011? Australia-listed Aspire Mining said Friday it has raised the eventual production target for its wholly-owned Ovoot coking coal project in Mongolia to 12 million mt/year, from 10.5 million mt/year previously, based on recent coal washability test ... Aspire Mining Limited (ASX:AKM) Lifts Indicative Ovoot Coking Coal Production ... http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Metals/8039448
ABN Newswire (press release) - ?Jun 23, 2011? Perth, June 24, 2011 (ABN Newswire) - Mongolian-focused coking coal explorer Aspire Mining Limited (ASX:AKM) (PINK:ASPXF) is pleased to announce it has lifted production expectations for its wholly-owned Ovoot Coking Coal Project (Ovoot) based on the ... China may control domestic coking coal output http://abnnewswire.net/press/en/68066/Aspire_Mining_Limited_(ASX:AKM _Lifts_Indicative_Ovoot_Coking_Coal_Production_Target.html
Steel Business Briefing (subscription) - ?Jun 23, 2011? Beijing is considering limiting China's coking coal production in order to protect its coking coal reserves. This could cause the country's imports of prime coking coal to increase. However, no details were released of how much coking coal miners would ... Aspire Mining's Ovoot project in Mongolia set to become one of world's largest ... http://www.steelbb.com/us/?PageID=157&article_id=94227
Proactive Investors Australia - Jeff Coote - ?Jun 23, 2011? Aspire Mining (ASX: AKM) is a coal resource company which owns 100% of the exciting Ovoot Coking Coal Project in Mongolia along with the Nurant and Shanagan Coal Projects. In addition the company owns a 49% interest in the Windy Knob gold and base ... http://www.proactiveinvestors.com.au/companies/news/17392/aspire-minings-ovoot-project-in-mongolia-set-to-become-one-of-worlds-largest-coking-coal-mines-17392.html
GL to all holders
GB
AKM Price at posting:
53.5¢ Sentiment: LT Buy Disclosure: Held
(20min delay)