Reading through the last share holders annual report, I came...

Reading through the last share holders annual report, I came across something very interesting....

Take note of these key sentences in the paragraphs below.....

***The legislation does not apply retrospectively (for example to the Nuurst Project

And...

***Any new acquisitions made by Modun in Mongolia will now be subject to the approval process described above.

What this means is the new legislation that will effect mining in Mongolia (in a positive way IMO) does not apply to our nuurst project!!!

Great News!!!


"The legislation does not apply retrospectively (for example to the Nuurst Project) and is similar to foreign investment regimes in other resource rich jurisdictions such as Australia (FIRB) and Canada."

"The new legislation requires Modun to notify the Foreign Investment Agency within 180 days of its existing investment in the Nuurst Coal Project. No further Mongolian Governmental approvals are anticipated. However, the newly formed Government is yet to provide details as to how the new Foreign Investment Law will be administered and implemented and Modun continues to work with the relevant Government authorities to ensure that all the requirements to progress the Nuurst Project towards the granting of a mining license continue to be met. Any new acquisitions made by Modun in Mongolia will now be subject to the approval process described above."