Auminco holds a 100% interest in a mining licence granted in April 2013 for a period of 30 years. Russian and Mongolian technical work has previously been completed on this exploration site, with high quality anthracite coal (metallurgical coal) delineated by previous drilling, and verified by the internationally recognised engineering consultancy Runge Pincock Minarco.
Donot know if VKA keep most of the coal assets in Mongolia, as their exploration license will expire soon except the above Khonkhor Zag project, which is for 30 years.
If VKA decide to quit mining projects in Mongolia, and to sell Khonkhor Zag project, please contact me on [email protected] for potential offer.
Hopefully, another USD$850k will be paid by the Chinese buyer ASAP. The quarterly report will be coming, I also want to find out the progress for our new project.
Current SP is dirty cheap, close to cash backing, and donot forget VKA has $9-12m receivable. so far, VKA is one of most undervalued ASX stock imv.
Auminco holds a 100% interest in a mining licence granted in...
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