Ann: High Grade Extension East Of Altan Tolgoi, page-3

How the world changes. Xanadu floated with a market cap of $120 million pretty much on the basis of a few mediocre brown coal JORC deposits. Now they look like holding 76% of a world class copper gold porphyry deposit mineable from surface, and they have a market cap of $20 million. One of the big reasons why is the Mongolian Government's unpredictability which only became obvious to us mugs after Xanadu floated. That said, a couple more successful step out holes, maybe 100m steps instead of 50m for a while, and the lid will blow right off this.