Wednesday, 06 Jul 2011 | By ProactiveInvestorsMongolian focused coal explorer TVN Corporation has been granted a trading halt by the ASX pending a 'material corporate transaction with the company shares placed in pre-open.
TVN Corporation has not yet provided the market with any further details on the transaction, but investors recently have been re-rating the stock evidenced by the 67% share spike on Monday 4 July 2011.
Although there was no announcement on the day, it appears investors began positioning themselves in the stock after last Friday announcement that the company received the requisite governmental approvals required to begin drilling at its Nuurst Thermal Coal Project located in a new coal hot spot of Mongolia.
Nuurst has an exploration target of 50 to 100 million tonnes thermal coal, Calorific value range Qdaf 6200 to 6800 kilocalories per kilogram. What is so fascinating about exploration and geological understanding in Mongolia is the lack of it with estimation that only three quarters of the country has been mapped to a scale of 1:200,000.
The underdeveloped and general lack of infrastructure in the country won't present much of a problem for TVN Corporation at this exploration stage. The best part for the junior coal explorers in Mongolia is the country location next to China, offering potential funds for infrastructure and development support should a sizeable coal resource be discovered.
Boosting the coal possibilities even higher for Mongolian focused company the country has coal reserves estimated at over 150 billion tonnes.
Posts
No comments:
Post a Comment