Nothing to post about really.Waiting to hear ...* The makeup of...

Nothing to post about really.

Waiting to hear ...

* The makeup of Parliament (although which ever way the DP decides, around 75% of members will be either pro-mining or at least not anti-mining). This must be settled before 26th July (before the President takes off for the Olympic Games).

* The offer from Chalco for Sth Gobi (before 3rd August) and then how the govt is going to handle it. Maybe if the govt gives some ground, Sth Gobi will drop their dispute claim. Interestingly, I understand that the Chinese are supplying the power for Oyu Tolgoi - you can imagine what might happen to that if Chalco gets knocked back.

* The progress on railway discussions with RZD's Mongolian subsiduary - and funding arrangements. IMO, the current SP values (undervalues actually) the Company as it stands - without a rail link - and, although Bell Potter's 50% risked 27c SP target does assume a rail link, I believe a successful rail and funding agreement will see AKM's SP much higher than that.

* Results of the extra drilling in the Ovoort Basin. The downward change in the total Resource in May certainly hurt the SP and if the new drilling can come up with something positive then that will help sentiment considerably. We don't need the extra resource for the project to be viable (see the PFS) but it will improve the project's financials and turn Ovoort into a genuine Tier-1 asset (bringing it even closer to the attention of the big boys).
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There's no shortage of coal in Mongolia but coking coal this good, this easily mined, with this yield, is unique. It's a very big project for a small company but, with the world's coal majors all looking very closely at Mongolia, I don't think we'll be short of partners to dance with.

Stay calm.