announcement is too opaque, page-29

Victorious, please ring or email Mark as you'll be given a credible explanation rather than rant here to the ill informed. Exploration planning is not a game of join the dots!!!

BTW I was a top 20 holder of MNM from 0.05c to 0.22c but dumped it after working out that the capex and opex is miles above the odds let alone the uncertainty with carbon tax, green movement and actual IP sscalability with dewatering BM brown coal. The MD is a quality guy but is at the mercy of its backers. Forget what others on the thread have to say and consider trying to answer the above objectively (but not here please).

In comparision Mongolian coal plays are in serious demand and for all the right reasons:

- Economy with +20% GDP
- Massive rail infrastructure that will actually get built on time and schedule
- mining cost advantages
- at the footstep of the customer
- A hotbed of M&A activity given they are at 50% discount to peers

Here is and interesting article from Eurasia Captial titled "Mongolia Coal Companies Targeted in M&A Deals"

http://www.eurasiac.com/system/files/Mongolia_merger_acquisitions_note_130911.pdf

And a more recent on "CHALCO Intends Takeover of SouthGobi Resources" that gives a more updated valuation metric:

http://www.eurasiac.com/chalco-intends-takeover-southgobi-resources