Friday, November 30, 2007

Erdene Gold says Zuun Mod site has larger deposits than previously estimated

Canadian-based Erdene Gold Inc. (TSX: ERD) has announced larger deposits of copper and molybdenum have been discovered at its Zuun Mod site.

Molybdenum is a silver-white metallic element, used as an alloy with iron in making hard, high-speed cutting tools.

"Zuun Mod continues to impress our technical team with these latest results further defining two large open pit targets which is exciting given we have only drill-tested a small portion of the known molybdenum and copper anomaly" said Peter Akerley, President and C.E.O. "As China moves to restrict molybdenum exports and foreign investment in molybdenum projects and producers announce reductions in future supply, the market is undergoing significant tightening."

Of particular note is that the new deposits have been found close to the surface and extend for up to 231 meters in initial estimates.

Also of importance is that the Zuun Mod site lies only 200 kilometers by rail into China, which is the largest consumer of molybdenum in the world.

Friday, 30 November 2007

Thursday, November 29, 2007

Khan stock plunges over uncertainty of Dornod uranium site ownership


Khan Resources Inc. (TSX:KRI) stock fell 23.4 per cent Tuesday following a warning by company officials that the unsettled political climate in Mongolia could put in doubt its continuing majority ownership in the Dornod uranium project.

The company's shares fell 51 cents, or 23.4 per cent, to trade at $1.67 on the Toronto Stock Exchange Tuesday.

Khan currently owns 69 percent of the Dornod uranium property. However, Mongolia has previously defined Dornod as a “strategic property.” Under Mongolian law, the government could seize a 50 percent ownership in the mine.

"It is not certain whether or on what terms Mongolia would seek to acquire additional equity in the property, or the amount of such additional equity," Khan said in a written statement.

"While there can be no assurance that Khan will not be affected by political developments, Khan is confident that both the Dornod mining license, and the Dornod exploration license have been validly issued and are in good legal standing."

The company said it does not know whether incoming Prime Minister Bayar Sanj will seek to take over part ownership in the uranium mine. Bayar Sanj will be formally elected by parliament as Prime Minister on November 22.

Khan officials said on Monday that it was watching out for the possibility that its stake could be reviewed following the November 22 election of Bayar Sanj.

"This momentous election, together with the upcoming general election in June 2008, will almost certainly mean political change in Mongolia," Khan said.

"As one of the largest uranium deposits in Mongolia, the Dornod Uranium Project has attracted political attention."

Thursday, 29 November 2007

Wednesday, November 28, 2007

Металлургийн аж vйлдвэрийг хєгжvvлнэ

Монголд Металлургийн аж vйлдвэр хєгжvvлэх боломж байгаа эсэх талаар холбогдох мэргэжилтнvvд зєвлєлдєж эхэллээ.

Дархан-Уул аймагт эхэлсэн "Монгол улсад металлургийн аж vйлдвэр хєгжvvлэх боломж ба шаардлага" олон улсын зєвлєлгєєнд ХБНГУ, Бразили, БНХАУ-ын металлургийн vйлдвэрийн мэргэжилтнvvд урилгаар оролцож байна.

VХЯ, Монголын Металлургичдын холбоо, Дарханы тємєрлєгийн vйлдвэр хамтран зохион байгуулж буй эл зєвлєлгєєнєєр монголын эрдэс баялаг болон металлургийн салбарын єнєєгийн байдал, тулгамдаж буй бэрхшээл, ололт, амжилтыг хэлэлцэхээс гадна металлургийн vйлдвэр байгуулах боломжийг эрэлхийлэх аж. Монгол Улсад уул уурхайн салбар vvсч хєгжсєний 85 жилийн ойд зориулан хийж буй эл зєвлєлгєєн хоёр єдєр vргэлжилнэ.

Эх vvсвэр: Монцамэ