exr gen, page-121

The excerpt below is from the recent Elixir annual report. Reading between the lines, the company sounds very confident that funding will not be an issue. In fact the recent cold calling that was experienced by the company from global energy companies suggests they all want a piece of what Elixir has - an resource-rich asset the size of Belgium that took 8 years to secure from Fortress Mongolia. Enough said.

”An asset of the size of the Nomgon IX PSC provides opportunities to bring in one or more partners. The de-risking that the appraisal process is intended to demonstrate should provide comfort to such parties in subsequent farm-out negotiations with Elixir.CSG exploration is much less capital intensive than other forms of petroleum exploration and at this stage Elixir is merely creating options over a farm-out campaign rather than foreseeing a requirement that it has to do so.Forming partnerships does not need to only happen at the field level – and we have demonstrated that this year with the announcement of the execution of a Memorandum of Understanding with Mongolia’s MT Group (one of the country’s largest fuel retailers) over the possible development of a small scale LNG plant.”

https://wcsecure.weblink.com.au/pdf/EXR/02262364.pdf