THL Mongolia purchases 70% of Mongolian exploration company - News.MN

THL Mongolia purchases 70% of Mongolian exploration company

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2019/05/21

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Old News! Published on: 2010.03.05

THL Mongolia purchases 70% of Mongolian exploration company

News.MN
News.MN
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THL Mongolia Ltd, a fully owned subsidiary of Trendfield Holdings Ltd has purchased 70% of KMNG LLC  holdings with the option to purchase another 20% within 3 years.



KMNG is located in Ulaanbaatar and owns 3 exploration licenses 13602X, 13603X and 13408X in Hanboulag, Khanbogd, Sayshand and Dalanazadgad. The cumulative area of the licenses is 1935.5 km2.



According to the President of THL Mongolia, “Trendfield has been searching long and hard for an opportunity such as this. These permits, their location and proximity to the world class Oyutolgoi Project makes this a win-win project for all persons involved.


We see this as an opportunity to expand our commodity base and begin to develop our projects and partnerships on the ground in Asia. We believe that these licenses may offer interesting exploration prospects for copper, gold, and rare earth elements.”


 

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