Ann: Operations Update, page-147

JM,
I agree with all that you say, I would just like to add that all the geo's and geophysicists I know which are all in base metals apart from the Brother in law who is in oil & gas love the thrill of the chase, that is what gets them out of bed every morning to hopefully find the next big deposit which gives them kudos among their peers and no doubt increase their wealth substantially, basically it is the Treasure hunt we all had as kids, but this one in Mongolia is like shooting fish in a barrel compared to the Goldfields of WA.

100% ownership of 30,000 sq Km of Virgin tenure, one of the biggest coal mines and copper/ gold mines in the world within the lease, hundreds of coal bearing basins potentially hosting Gas, and pretty much a 100% strike rate with the drill bit, these guys are having to much fun unlocking the code as RC would suggest !

So I don't think that this is a pump and dump get rich scheme for these guys they are more looking to write their names in history and get seriously rich in the process, so I suggest that this will take many years to evolve as the exploration costs are cheap and as the SP increases not much dilution to raise extra cash to keep the drill bit and pilot wells happening, so no need to JV and dilute our 100% holding and income from small power or LNG plants will keep funding the drill bit.
They will get TO offers which will have to be released to market and the SP will rise and eventually they will get to a figure that the board are willing to pull the trigger on, so I suggest plenty of opportunities to retire along the way before then.

Cheers BK14