Ann: Sale of Mongolian Coal Asset, page-2

I thought they originally were going to get around $8 mill for the plot. I must be thinking of another MOU
"STATUS OF MONGOLIAN COAL ASSETS
The Board of Modun Resources Limited (Modun or the Company) provides the following
update on the status of the disposal of its Mongolian Coal Assets.
The Company has previously announced that it had entered into a highly conditional sale
agreement to dispose of its Nuurst Thermal Coal Project. The Company advises that it has now
terminated this agreement on its terms as a result of being unable to agree the terms of the
formal sale agreement with the Mongolian purchaser. The parties had originally entered into the
agreement in November 2014, and notwithstanding the parties ongoing negotiations to progress
the transaction, the parties have been unable to agree formal terms and the Company has
elected to terminate the transaction.
As set out in the Notice of Meeting for the upcoming Shareholders meeting on 30 July 2015 and
in the Company’s Prosectus dated 1 July 2015, the Company has been negotiating with other
third parties in relation to the Nuurst Thermal Coal Project and is pleased to advise that it has
executed a conditional share sale agreement (SSA) with two Mongolian nationals for the sale of
all the shares in Modun’s 100% owned subsidiary Modun Resources LLC. Modun Resources
LLC is the owner of the Nuurst coal assets.
The material terms of the contract are as follows:
 Consideration payable is USD $2,210,000.00 of which USD $100,000 is expected to be
paid on exchange of contracts as a deposit; and
 Completion is subject to and conditional upon shareholders of Modun approving
resolution 15 in the upcoming meeting of shareholders due to be held on 30th July 2015
and completion is to occur 3 business days thereafter.