MUB - Mongolian Resource Corporation

[System]

Mongolian Resource Corporation Limited (MUB) was formerly known as Alamar Resources Limited (ALG).

The directors of Alamar Resources Limited (ASX Code ALG, "Alamar", or the "Company") are pleased to announce the Company has settled the agreement to acquire 100% of MRCMGL LLC ("Mongolian Resource Company" or "MRC"). The Company raised $10,000,000 as part of this transaction. The directors of Alamar believe that the MRC business provides an attractive opportunity to complement the current assets and strategies of Alamar. To date, Alamar has entered into direct tenement acquisitions and joint ventures to explore for natural resources, namely Gold and other base metals such as Copper and Uranium. The proposed acquisition strategy of MRC is considered in line with Alamar current strategy.

http://www.alamar.com.au

 

[mr. jeff]

MUB states that their main focus is the Yandal Belt, but they have bought a Mongolian Company to add into the fold. Don't know the extent of the value vs. hype factor there.

NEM
The Jundee mine was opened in 1995, originally as an open pit operation and, from 1997, also as an underground mine.[1]

Originally, the mine was owned to 51% by Great Central Mines, which acquired the remaining 49% in early 1995 for US$89 million, alongside 30% of the Bronzewing Gold Mine.[2]

In 1997, the Jundee mine was enlarged with the acquisition of the nearby Nimary Gold Mine, owned by the Eagle Mining Corporation NL.[3]

Great Central Mines, with Jundee, Bronzewing and the Wiluna Gold Mine, was taken over by Normandy Mining in June 2000 and Normandy, in turn, by the Newmont Mining Corporation in February 2002.[4] [5]

The mine was operating as an open pit and underground mine until 2007, when the last open pit closed. Newmont plans to return to open pit mining in 2010 if drilling results are positive.[6] Currently, the mine is scheduled to close in 2013 but Newmont hopes to extend its live time.

Jundee FMJ
Fortis' Jundee Project lies in the northern part of the Yandal Belt, an Archaean NNW striking greenstone succession flanked by Archaean aged granitoids. The belt hosts several major gold deposits including the Jundee-Nimary deposits (>7Moz Au) and the Bronzewing Deposit (>2Moz Au). The northern part of the Fortis? Jundee project area lies six km southwest of the established Jundee-Nimary Gold Mine which has produced in excess of 5 million ounces of gold from open pit and underground operations since 1995. A number of other smaller gold deposits lie several kilometres to the east of Fortis? Jundee project including Elliot, Area7, Henry Ward and Gourdis-Vause which have been previously mined as small open pit operations.

NAV
The Bronzewing Gold Project is located in the Eastern Goldfields of Western Australia in the highly prospective Yandal Greenstone Belt, 83km NE of the town of Leinster and 800km NE of Perth.

Alloy resources is there drilling - AYR

and finally artemis ARV
Press Release Source: ABN Newswire On Wednesday 4 May 2011, 13:35 EST

Sydney, Australia, May 4, 2011 - (ABN Newswire) - Artemis Resources Limited (ASX:ARV.AX) is pleased to announce that first pass drilling at its Yandal gold project in the gold rich Yandal- Bronzewing greenstone belt in Western Australia, has intersected a promising high-grade gold zone at the Forked Stick prospect and found exciting southern extensions of the historic Lowlands resource. The results follow a 14 day drilling program which Artemis undertook at Yandal in March during which it completed sixteen holes for 2330m over 4 existing gold prospects.

same geology, further exploration, don't know about the Mongols yet they haven't received much mention in the info I have read;

"Company Overview

Mongolian Resource Corporation Ltd. engages in acquisition, development, and operation of gold, iron ore, and coal properties such as Blue Eyes Gold and Sujigtei Gold projects. Mongolian Resource Corporation Ltd. was formerly known as MRCMGL LLC. As a result of the acquisition of MRCMGL LLC by Alamar Resources Limited, MRCMGL LLC's name was changed. The company is based in Mongolia. As of April 11, 2011, Mongolian Resource Corporation Ltd. operates as a subsidiary of Alamar Resources Limited." from Bloomberg Businessweek

Further info is not easy to find.

 

[frankie_boy]

This company has been brought to my attention due to various information.

What are your thoughts on this company?

 

[frankie_boy]

This company has been brought to my attention due to various information.

What are your thoughts on this company?

bump! No one else on the forum following this one??

 

[prawn_86]

bump! No one else on the forum following this one??

What was the information that bought it to your attention. If you provide some thoughts/research/analysis that is more likely to get other people commenting

 

[frankie_boy]

What was the information that bought it to your attention. If you provide some thoughts/research/analysis that is more likely to get other people commenting

Well it was the acquisition of Ereen Project . This has been postponed now, losing its exclusive option. Its a buy and/or hold IMO.

 

[frankie_boy]

Theres been a spill at the top. 3 have resigned probably before they were pushed. Stock in hold mode. Dont know why I bought these. Am now at -70%