frmen,they key word here is strategic.I spoke to the MD several...

frmen,

they key word here is strategic.


I spoke to the MD several months back regarding this concern. Our resource is simply not what you would consider stragetic. Perhaps it helps Aussies to think of the word strategic in terms of selling the entire Pilbara (iron) or NorthWest shelf (gas) =>> That is what the Mongolians are referring to as being strategic.

Those resources can make or break countries and weapons in diplomacy or reasons for war :)

So in context, it is not that significant fro Haranga, but should add ever so slightly to the perception of country risk for Mongolia. It harldy warrants the drop in share price we have seen, and if people have been paying attention then this wouldnt be 'news' either as it has been out there for about 9 months or so.

It has burned down pretty hard in the last few days and is probably ready for a small volume rally. Walking down 30% on ~1m volume is a complete over reaction and a buying opportunity imo. RSI is showing almost oversold.

I might wait for it to hit the 32s though first.

Cheers,

SF