Hi Michelef Xanadu have been trying for over 6 months now to...

Hi Michelef

Xanadu have been trying for over 6 months now to find a buyer for there thermal projects and progress has been slow to say the least. The recent update stating they have interested parties looking at Khar Tarvaga and Galshar has been in the wind for a long period of time. This has nothing to do with AKM or Nobel, Nobel only has a stake in these two companies so they can gain first rights to selling the companies coal (mainly coking coal) once production starts.

This can be seen in AKM's recent announcements confirming this with the two parties agreeing to Nobel marketing the coal and selling the first 5mt. Also the thermal coal assets XAM are selling are average in quality, Khar Tarvaga is rubbish imo and no where near worth the values that are being thrown around. That asset is only good to a company with current production facilities near by due to the low value of the coal and the current mining license. Hope this answers your questions.

Disclosure: Hold AKM and have held XAM

GL to all holders

GB