Full Steam Ahead, page-2

First post, bar announcements, for nearly 2 months thanks Maldives.

Seems strange for a company that is heading towards a fairly large JORC well within the current time constraints of its finances. Makes you wonder whether Hotcopper is really a forum for discussion, just a boiler room, or else we are all too busy to put words to our thoughts and post them.

My thoughts are that the big concerns for Xanadu in order of seriousness are:

1. The Mongolian Government's unwillingness or inability to invest in mining, yet not permit it to go ahead at other people's risk which would bring in royalities without having to borrow money.

2. Will the first JORC point towards a competitve resource. There are a lot of porhyry copper gold deposits being uncovered around the world and Xanadu needs to be in the cheapest 25% to be able to go mining I reckon.

3. There are still some fairly solid financing hurdles to cross, but they are within reason in terms of amount and timing.

In relation to the political risk, it seems that we are at least a year away from a change of government and the chance of an administration more positive for mining.

In relation to the quality of the resource, given the remoteness, I would like to see more tonnage from near surface at closer to 1% than the current long intersections at a bit over 0.7% copper equivalent.

With even a little further success in drilling, I believe the prospects are competitive enough to keep the cash coming in to get through the next financial milestones.

I look forward to 2015 with interest. Xanadu is an invigorating company at the moment.