Before Ivanhoe was taken out by RIO at Oyu Tolgoi they reported very interesting Au chip samples from multiple veins at a large prospect called Bronze Fox. This prospect still shows up on the regional maps of XAM. After the initial flurry of excitement at BF there has been no significant discovery announced - no idea why (suspect narrow and low tonnage). If the exciting results from Oyut Ulaan are similar then they need to be treated with some caution .
There certainly is gold and copper in the Kharmagtai to Oyut Ulaan (both? were back burner Ivanhoe properties) neck of the woods but getting to the level of mining is such a huge step.
Would like to hold XAM but funds don't stretch that far - for now anyway and some more news may make it great for holders but not a buyer.
XAM Price at posting:
23.0¢ Sentiment: Buy Disclosure: Not Held
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