Ann: Kharmagtai - Zaraa Drilling Update, page-17

Thanks @Budor ... I continue to shake my head in disbelief at the current SP given that as you said "Kharmagtai could become a tier 1 deposit".

However I suspect that Rio Tinto's "fights" with the Mongolian Government have spooked many investors as the decline of the SP makes little sense given the ongoing good news from the exploration works. Nevertheless the fact that the Chinese Government and various Chinese companies are pouring money into infrastructure builds in Mongolia, such as the Northern Rail Corridor linking China to Russia through Mongolia indicate to me that China and Chinese companies do not share those jurisdictional concerns.

Meanwhile, at the risk of a temporary diversion from mining, I take heart in the recent story of the Australian couple Murray and Liz Benn who sold up everything in Australia and started "a cafe and guesthouse eight hours west of the Mongolian capital".

URL: http://www.abc.net.au/news/2018-06-...ists-enjoy-a-flat-white-on-the-steppe/9815906

Seems that business is going well and they are happy with the risk vs reward of doing business in Mongolia and I am looking forward to visit their cafe/guesthouse once the XAM SP hits its true value.

And on the copper front, it's interesting that Chinese companies such as Aluminum Corp of China (Chinalco) "at the weekend said it had started work on a $1.3 billion expansion of its Toromocho copper mine in central Peru."

https://www.reuters.com/article/us-...n-expansion-of-peru-copper-mine-idUSKCN1J00CI

The growing demand from Chinese companies for copper is real ... and the ongoing exploration results from XAM indicate its time will come "soon"!