Ann: Quarterly Activities Report , page-4

Due int he next 6 months, YES. But you show me a prospector or exploration company that doesnt always have a raising due :)

They are boasting the biggest drilling program in Mongolia. This should mean we can expect a massive resource upgrade and results for months to come.

Given the price of delivered ore to the captive and reducing (supply) market of inland Chinese steel production we should have a smile on our faces.

The downside to overall reduced production is that some areas will face the chop and higher cost areas such as inland may become less favourable. However, they are also the zones that have better labor rates.

All things being equal, HAR which has been spun down in price on an anemic volume, will be due for a massive surge in price. I would expect that a takeover is definitely on the cards given how ready the resource would be for extraction.

SF