According to preliminary results, pro-investment, pro-Western President of Mongolia Elbegdorj Tsakhia has won by a comfortable majority in the region of 57%.
This will re-invigorate foreign investment back Mongolia, because large investors were fearing that MPP candidate B.Bat-Erdene might win the election on resources nationalism ticket drive them out of the country.
B.Bat-Erdene has told, among other things, that Oyu Tolgoi Investment Agreement (Rio Tinto project) must revised.
Conclusion: Large investors will be back to business, because they were in wait-and-see mode.
NRU Price at posting:
0.8¢ Sentiment: ST Buy Disclosure: Not Held