Ann: Update on Mongolian Foreign Investment Law , page-5

re: Ann: Update on Mongolian Foreign Investme... I'm hoping that the fact it was released before the market closed means the Company thinks it's positive. Be nice to know.

It's not retrospective so, presumably, existing licences are unaffected. But an application to mine (as against explore) may have to go before Parliament. We should be told.

It's expected to be watered down - or interpreted more leniently - after the elections.

As a 'Third Neighbour' country, Australia should be seen more favourably (except if Chalco gets a piece of us through South Gobi). It would also help if some sales were oriented outside of China (like India's SAIL has proposed).

Overall .... we didn't need this but it could've been worse.
It puts another level of bureacracy into the process but I doubt it will stop AKM from doing what it plans, if not in exactly the same way.