re: Ann: Potential Extension to Ovoot Coking ...
Despite the market's attitude, I think AKM believes it has a large enough Reserve (2nd largest in Mongolia according to AKM) to be getting on with and that the priority is clearly the final approvals and funding for the rail links.
The drilling at Hurimt could be worth watching (October >>) and I agree that it would be nice to see the mine life out to 15, or even 20 years. That would make Ovoort a Tier-1 asset and attract the attention of the big fish - especially those long-distance exporters (incl. those from Oz) who are increasingly worried about losing market share in China to miners operating in Mongolia. Mongolia has long since replaced Oz as China's largest hard coal supplier and that trend will certainly continue.
What better way to replace your lost market share than to buy a world-class Mongolian coking coal resource?
Ann: Potential Extension to Ovoot Coking Coal Res, page-3
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Last
35.5¢ |
Change
0.005(1.43%) |
Mkt cap ! $177.6M | |||
| Open | High | Low | Value | Volume |
| 35.0¢ | 36.0¢ | 35.0¢ | $28.11K | 78.96K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 28259 | 35.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.0¢ | 35544 | 2 |
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| Last trade - 12.43pm 04/07/2024 (20 minute delay) ? |
| AKM (ASX) Chart |