http://online.wsj.com/article/SB100014240527023047606045764272103...

http://online.wsj.com/article/SB10001424052702304760604576427210387433564.html?mod=WSJASIA_hpp_LEFTTopWhatNews

Key things to note in that article:

Tavan Tolgoi where CEO holds exploration licenses holds an estimated reserve of 6.4 billion metric tons of coal that includes large amounts of coking coal.

The consortium, which includes U.S. coal company Peabody Energy Corp., China's Shenhua International Ltd. and an unidentified Russian-Mongolian group, will develop roughly half the Tavan Tolgoi coal deposits -->

"Half of 6.4B Tonnes will be allocated to contractors"

With 4 more Licenses to be explored and drilling results for BTE-3 to be announced by July 15th, i would like to re-iterate Mark Earley gut feeling as "highly prespective region".