Here is what I could find out with a bit of research.
1/ South and middle Gobi regions; and the Gobi-Altai and eastern Mongolia regions are full of mineral rich zones and coal deposits.
2/ The Mongolian Government announced the railway development plan for the next 5 years.
3/ Hunnu voted best explorer 2011 - If ROB is picking up licenses in this region it will it heading in the right direction.
4/ The Board is currently considering the report and notes that the project is well located in the western coal province of Mongolia which has hosted several seams of Upper Permian Age Coal. Further exploration will be required to confirm the presence and quality characteristics of the coal and to define JORC code compliant resources.
5/ The Option provides a 60 day time-frame for the due diligence. 100 million ROB shares (17.98%) for revenue raising.
6/ The need to hold a general meeting of the share holders to confirm and ratify boards decision to exercise the option.
7/ December the 7th is a key date because of the dispatch notice of meeting to approve change of activities and issue shares to vendor.
8/ If the Board considers this a asset worth pursuing shareholders will be informed of a meeting in 20th Jan 2012 to approve the acquisition as well as further capital raising to explore and develop the coal asset.
9/ Subject to further due diligence, the Board expects to provide advice in relation to exercising its option or otherwise by 30 November 2011.
10/ "The Group also rationalized its structure during FY 2010 and deregistered a number of dormant and non-operating subsidiary companies and on 11 October 2010, executed a Share Purchase Agreement whereby the AFSL holder entities within the Group and any attaching contingencies were disposed of. As a consequence the Board has been in active discussion with a number of parties aspiring to access the shell and in addition is speaking with a number of highly regarded stockbrokers on the same matter." - ROB
After the ups and downs have settled, in my opinion, the company is in a bullish uptrend. Expecting early highs Monday in anticipation of announcement. One certainly to watch.
Timbo I am not a TA but obviously 3.4 looks like the one to watch out for a true breakout. On Friday there was allot of accumulation with allot of buyers holding. Buyers are going to hold and follow the uptrend. Certainly the Volume looks very good...
Also December 7 looks like an important date in my opinion. Good luck to all holders.
PS - Obviously everyone needs to do their own research, this is just one persons opinions and is no way advice. I enjoy research, if you liked what I've said let me know by voting!
Kind Regards
ROB Price at posting:
2.7¢ Sentiment: ST Buy Disclosure: Not Held
