Good news more likely than not IMO. It relates to results thus...

Good news more likely than not IMO. It relates to results thus far of the Nomgon-1 drill. The announcement states ’operational update in connection with the Nomgon-1 exploration well.’

A joint venture partner or capital raise would be a bit too early at this immediate stage IMO.

They should have made good drilling progress in almost three weeks and know coal seam thickness in the sweet CBM zones. Not sure if target depth would have been reached just yet, this well could be quicker than the other ones due to more effective winterization. Too early for desorption and permeability test results, but they should have indicators if the results will be at the higher or lower end.

I wouldn’t read too much into the small sell off this morning, IMO a result of the macro environment, commodity stocks are being hit the hardest at the moment.

The news must be quite material IMO. The last trading halt was issued in July 2019 when the final regulatory approval was received from the Mongolian Government. They didn’t issue a trading halt when drilling the Ugtaal holes, even though there were some unimpressive results that sent the share price southward. Neil stated that they were ‘highly confident’ in the last announcement...

GLTAH