Wow! Xanadu Mines deal - Time to bet big on Mongolia?, page-2

The stand-out for value and an imminent re-rating in all of Mongolia has to be TMK:

1. Contingent gas (2C) of 1.2 tcf in a market (China/Mongolia) that imports near all of its gas

2. At the current local gas price (Japan/Korea Platts marker @ US$12.5/GJ) that's about US$13 billion of gas

3. By all accounts from management, they're getting very close to achieving commercial rates of gas and hence converting that 2C to reserves

4. And all that for a market cap which is just under US$20 million today. Crazy good value.

AZ9 also worth a look for its minerals, which more assay results pending.