Thanks for shining your spot light on this company, MBG. I hope others in your constituency will be curious enough to take the 40 minutes necessary to watch your video, then, as you say, do their own research.
If XAM reaches your hoped for 1 billion market cap, you will have a lot more than 1,000 followers in your audience.
Ironically, just as your research helps to paint a rosier future for XAM, we have today a flash back to the past. Out of the blue, XAM announced this morning it had received $200,000 worth of shares from an almost forgotten earn in agreement on one of its old coal tenements.
For people joining the story now, XAM raised seed capital mostly in Sydney to look for copper gold in Mongolia around 2004 but the coal boom came along and diverted attention away from the red and yellow metals. Management of the unlisted company was opportunistic and changed course to become a coal explorer, regularly raising capital from the company members for that purpose. Amazingly thick intersections of coal seemed to be everywhere even if the quality wasn't all that good and this provided the momentum XAM needed to IPO on the ASX at the end of 2010. A few years later coal exploration had pretty much drained the bank account, there was an over supply of coal deposits in Mongolia, and Mongolian politics had frittered away the chance to get any of these projects off the ground. So XAM dumped its coal tenements and changed its focus back to copper and gold. The millions of dollars and the years spent on coal had given the company a good local network and staff, putting it in the right place at the right time to pick up the demonstrably exciting Kharmagtai prospect.
Finding a good orebody is nearly always a very round about process!
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