# Shares - 246m Cash $54m ($0.22 NTA) Market Cap - $71m EV - $17m
It is targeting Coal, Copper and Gold propspects in China and Mongolia. As per announcements below they have already appiled for 5 licences in Mongolia and are in discussions regarding a large coal project in China.
No need to raise funds for initial exploration = no dilution till project/s has been substanially defined.
October announcement in regards to Mongolia -
"A total of five licences (totaling 2,664 km2) have been applied for covering ground which the Company?s geologists consider to be highly prospective for high quality coals including hard coking and semi soft coking coals as well as high energy thermal coals."
January announcement -
"the Company is in active discussions for the acquisition of a large thermal coal project in eastern Xinjiang and in addition it is reviewing a number of thermal coal projects in Inner Mongolia."
LRL Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
