AKM released news late today that the bill passed as expected last night.
It's not retrospective so XAM's existing licences should be OK.
Whether it affects the current takeover of Temujin's subsiduary or not I don't know (but surely XAM will advise us(?)) If Temujin already had mining licences approved they should hold up I guess. If not, then, future licences will require Mongolian Parliamentary approval.
Since Australia is a 'Third Neighbour' country we should be viewed favourably.
The regs (or at least their interpretation) are expected to be relaxed after the elections.
Overall ... we didn't need this but it could've been a lot worse. Hopefully, XAM will confirm that it may slow, but not curtail, their activities.
It would limit a takeover to a non-Chinese outfit but there's still plenty of them.
XAM Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
