while we wait., page-6

Not sure, The tender process was to start the Dec quarter and thats coming to an end.Its an interesting process in itself and if you read the long document I've linked at the bottom of this post, you will see why Leyshon have established a Mongolian registered subsidiary company headed by a Mongolian national and senior geologist with more than 15 years exploration experience in Mongolia and China. It not like the tender automatically goes to the highest bidder. So strong local knowledge is a plus.

We can only wait, but I suspect the big multi Nationals will let the smaller explorers take the initial risks and move on them with any decent discovery. IMO

A couple of other things that could pop up any day stem from from company statements such as-

"In addition, the Company is in active discussions with a potential vendor of an interest in a large thermal coal project located in eastern Xinjiang. Due diligence is well advanced and the results suggest that the project has the potential to meet the Company?s investment criteria. Further discussions are expected during the current quarter.

And-

The Company is currently undertaking a detailed due diligence exploration programme on a gold project located in a historic mining district in north west Xinjiang. The programme has comprised extensive trenching and sampling over several kilometers, testing the surface expression of a potentially deep seated orogenic gold resources. Further detailed testwork and commercial negotiations are expected during the current quarter.

FYI -

http://mongolia.usembassy.gov/root/media/pdf/2010-mongolia-investment-climate-statement.pdf

Cheers

Oscar