Company Update - nothing new but good to hear it all again!
During the 5 months since signing the option to acquire the licence, Modun has:
obtained all approvals necessary to explore the licence area
completed the acquisition of the Nuurst Licence – the licence is 100% owned by Modun Resources
obtained foreign investment approval and established an office in Ulaanbaatar
mobilised a drilling team in July that peaked at 49 people and 4 diamond drill rigs on site by early November
completed 7411 m of diamond drilling over 26 holes
appointed a leading Mongolian coal geologist, Enkhbayar Batmunkh who has 35 years experience, most recently as Senior Coal Geologist for Peabody-Winsway. Mr Batmunkh will be Modun’s full time Exploration Manager focusing on acquisition and exploration of coal projects in Mongolia
appointed CSA Global to undertake the resource estimation work on the Nuurst Project
continued to undertake due diligence and negotiations on potential acquisitions of coking and thermal coal projects within Mongolia
TVN Price at posting:
4.6¢ Sentiment: LT Buy Disclosure: Held
