Events
Name | organizer | Where |
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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK | MBCCI | London UK Goodman LLC |
NEWS
New Railway Line Tavantolgoi-Zuunbayan to be Open www.montsame.mn
O. Amarsanaa, the Stationmaster of Tsogttsetsii train station said, “The Memorandum of Cooperation between Mongolian Railway and Mongolian Professional Committee of Petroleum Import was signed and we have been cooperating actively since then.” As a result of this MOC, companies and entities working in the strategy fields are able to be supplied by lower-price gasoline and the overloaded truck traffic will be reduced, increasing the lifespan of roads.
On February 1, 2023, “Mongolian Railway” SOSC, “Tavan Tolgoi Railway” LLC, and “Mongolian Trans Line” LLC jointly launched a trial transportation between Tavantolgoi -Tsagaantsav.
The Tavantolgoi-Gashuunsukhait railway covers Tsogtsetsii, Bayn-Ovoo, and Khanbogd soums of Umnugovi province. It is 240 kilometers long mainline from Tavantolgoi mining to port Gashuunsukhait, with a total of 321.6 kilometers, two stations, and six crossings.
As of today, 21000 tons of coals have been transported successfully.
Singapore Police Have Begun Probing Crypto Fugitive Do Kwon’s Terraform Labs www.bloomberg.com
Singapore police said they have begun a probe linked to Terraform Labs Pte, the company co-founded by crypto fugitive Do Kwon.
In an emailed statement on Monday, the force said “investigations have commenced in relation to Terraform Labs” and added the inquiries are “ongoing.” It also said Kwon isn’t currently in the city state.
Terraform Labs didn’t immediately reply to a request for comment.
The US Securities & Exchange Commission last month accused Kwon and Terraform Labs of fraud. Kwon also faces charges in his native South Korea over the $60 billion wipeout of digital assets that he created.
The 31-year-old developed the TerraUSD stablecoin, which was meant to have a constant $1 value via a mix of algorithms and trader incentives involving a sister token, Luna. The edifice blew up in May 2022, exacerbating a crypto-market rout and contributing to the downfall of a range of digital-asset outfits.
Kwon’s whereabouts became unclear after South Korea issued a warrant for his arrest and he exited Singapore, where Terraform Labs had a base. South Korea has said Kwon, who has previously denied wrongdoing, is the subject of an Interpol red notice.
The US SEC in its lawsuit also said that Kwon and Terraform Labs transferred over 10,000 Bitcoin out of their doomed project and turned some of the tokens into cash via a Swiss bank.
Kwon used to be active on Twitter — at one point last year he poked fun at the saga surrounding him, trolling the “cops” and posting a picture of a gun with the words “pew pew.” He hasn’t tweeted since Feb. 1.
Domestic Construction Enterprises Completes 98.0% of Construction and Capital Repairs www.montsame.mn
According to the National Statistics Office of Mongolia, construction, capital repairs and maintenance reached MNT 6.3 trillion, of which MNT 6.2 trillion (98.0%) were completed by the domestic construction enterprises and MNT 124.4 billion (2.0%) were completed by foreign enterprises in 2022.
By preliminary result of 2022, construction, capital repairs and maintenance increased by MNT 1.7 billion (37.4%) compared to the previous year. It was mainly due to MNT 1.7 billion (37.9%) increase in construction, capital repairs and maintenance completed by domestic enterprises. In the total construction, capital repairs and maintenance completed by domestic enterprises, construction, capital repairs and maintenance completed by private enterprises reached MNT 6.2 trillion, increased by MNT 1.7 billion (37.7%). While, capital repairs and maintenance of state-owned enterprises reached MNT 128.0 billion, decreased by MNT 159.8 billion (55.5%), construction, capital repairs and maintenance completed by joint venture reached MNT 47.2 billion, decreased by MNT 1.9 billion (3.9%) compared to the previous year.
The share of residential buildings in the total construction, capital repairs and maintenance were 38.5 %, share of non-residential buildings was 28.2%, share of engineering construction was 30.3%, and share of capital repairs and maintenance was 3.0%. Compared to the previous year, share of residential buildings in the total construction increased by 2.8 percentage points and capital repairs and maintenance 1.4 percentage points, but the share of engineering construction decreased by 0.3 percentage points, share of non-residential buildings decreased by 3.9 percentage points. In 2022, the share and value of non-residential buildings in the total construction capital repairs and maintenance reached MNT 1.8 trillion, increased by MNT 304.8 billion (20.7%) compared to the previous year. It was mainly due to other non-residential buildings increased by MNT 178.2 billion (86.1%), school and cultural institutions buildings increased by MNT 73.5 billion (21.9%), trade and service buildings increased by MNT 68.0 billion (54.1%), hospital buildings increased by MNT 12.2 billion (22.1%), and industrial construction performance decreased by MNT 27.1 billion (3.6%), compared to the previous year.
The preliminary result of 2022 shows that the worth of MNT 2.8 trillion for repairs and maintenance or 44.9 percent of the total construction, capital repairs and maintenance completed by domestic enterprises, was in Ulaanbaatar, increased by 2.3 percentage points compared to the previous year. By the preliminary results of 2022, construction, capital repairs and maintenance of domestic enterprises reached MNT 1.3 trillion in Dornogovi aimag and MNT 879.8 billion in Umnugovi aimag and MNT 165.7 billion in Orkhon aimag and MNT 154.9 billion in Darkhan-Uul aimag and it is 41.3% of the total construction, capital repairs and maintenance of all aimags. Building of 226.9 km railway line in the Zuunbayan-Khangi in Dornogovi province, Oyu Tolgoi underground mine, railway and highway buildings performance are in full swing in Umnugovi province, highway buildings in Darkhan-Uul province, Erdenet plant expansion buildings performance and housing construction in Orkhon province.
In the preliminary result of 2022, complete construction of buildings and capital repairs in the total construction capital repairs and maintenance reached MNT 5.8 trillion, increased by MNT 3.1 trillion (2.11) compared to the previous year. Compared to the previous year, general engineering construction increased by MNT 2.1 trillion (7.11), residential building increased by MNT 497.4 billion (31.6%), non-residential building increased by MNT 358.1 billion (53.5%), capital repair and maintenance increased by MNT 85.7 billion (79.3%).
Chairman of the State Great Khural Pays Courtesy Call on the Emperor of Japan Naruhito www.montsame.mn
The Chairman of State Great Khural (Speaker of the Parliament) Mr. Zandanshatar paid a Courtesy Call on the Emperor Naruhito and Empress Masako of Japan on March 3 at the Imperial Palace in Tokyo.
Expressing his pleasure to meet with the Emperor Naruhito, the Speaker Mr. Zandanshatar conveyed warm greetings of the people of Mongolia to the Emperor Naruhito and the people of Japan. Furthermore, the Speaker expressed that the visit is high of significance to solidify the “Special Strategic Partnership for Peace and Prosperity” and to strengthen the economic cooperation between our two countries on the basis of mutual benefit and reciprocity. With respect to the announcement of 2023-2025 as the “Years to Visit Mongolia”, the Speaker conveyed the President of Mongolia Ukhnaagiin Khurelsukh's invitation to the Emperor Naruhito and Empress Masako to visit Mongolia at their convenience.
For his side, while noting the 50th anniversary of the establishment of diplomatic relations marked in 2022 between our two countries and the growing friendship relations between the peoples of our two countries, the Emperor Naruhito wished Mr. Zandanshatar’s visit to Japan success.
2023 IIHF Ice Hockey U18 Asia and Oceania Championship in Mongolia www.montsame.mn
According to the International Ice Hockey Federation (IIHF), the 2023 IIHF Ice Hockey U18 Asia and Oceania Championship and the IIHF World Championship Division IV will be held in the Steppe Arena of Ulaanbaatar, Mongolia on March 11-26 (confirmed date).
“Mongolia has submitted its candidature many times to host the high-level ice hockey championships in our country. The IIHF requires countries to meet certain conditions for hosting hockey world championships. For this time, we have passed these thresholds after constructing Steppe Arena in Ulaanbaatar,” B. Javkhlan, the President of the Mongolian Ice Hockey Federation, a Member of Parliament, and Minister of Finance, highlighted during the press conference in the Steppe Arena.
More than MNT 1.7 billion has been budgeted for organizing the 2023 IIHF Ice Hockey U18 Asia and Oceania Championship and the IIHF World Championship Division IV. The cost will be shared equally by the host country and the IIHF.
Considering the compositions of the teams that will face off in the championships, the Philippines and Indonesia teams include professional athletes from other countries, which is expected to increase the chance of fierce battles that captivate interests of fans.
For Mongolia, over 50 players of the Mongolian National Ice Hockey Team and Mongolian National Ice Hockey Junior Team are in training at the Steppe Arena, A. Mergen, Head Coach, said.
Over 450 players from six teams (including Mongolia) of the 2023 IIHF Ice Hockey U18 Asia and Oceania Championship and ten teams (including Mongolia) of the IIHF World Championship Division IV will arrive in Mongolia. Moreover, fans and officials will also gather together.
The 2023 IIHF Ice Hockey U18 Asia and Oceania Championship – March 11-17
Participants: Iran, Mongolia, Thailand, Turkmenistan, United Arab Emirates, Uzbekistan
The IIHF World Championship Division IV - March 23-26
Participants: Indonesia, Kuwait, Mongolia, Philippines
Foreign leaders offer congratulations to new President of Vietnam www.en.vietnamplus.vn
Hanoi (VNA) – Leaders of Russia, India, the Democratic People’s Republic of Korea (DPRK), Japan, Italy, Mongolia, and the UAE have sent
to Vo Van Thuong on his election as President of Vietnam by the 15th National Assembly.
congratulations
In his congratulatory message, Russian President Vladimir Putin stressed the two countries’ relations are based on the traditional friendship and mutual respect.
He expressed his belief that as the President of Vietnam, Thuong will help further solidify the countries’ comprehensive strategic partnership, thus meeting the fundamental interests of the two nations and contributing to regional security and stability.
Extending her
, Indian President Droupadi Murmu said the solidarity and close-knit friendship between her country and Vietnam have been nurtured since the time of late President Ho Chi Minh, and bilateral relations have continued to be reinforced and developed into a comprehensive strategic partnership.
congratulations
She wished to work with President Thuong to further promote bilateral ties on the basis of the Joint Vision Statement on Peace, Prosperity, and People adopted in 2020.
Meanwhile, Chairman of the DPRK’s State Affairs Commission Kim Jong-un emphasised that Thuong’s election as President of Vietnam reflects the Communist Party of Vietnam and the entire Vietnamese people’s high trust in the newly elected leader.
The traditional friendship between the two Parties and States will keep growing more strongly in the coming time, he affirmed, wishing Thuong many significant achievements in the new position.
Offering
, Japanese Prime Minister Kishida Fumio said the two countries mark the 50th anniversary of their diplomatic relationship in 2023, and that over the last 50 years, they have jointly surmounted numerous difficulties and challenges and built close cooperation in all fields, from politics, economy, diplomacy, security to culture and people-to-people exchange.
congratulations
He voiced his belief that serving as President of Vietnam, Thuong, a close and important friend of Japan, will help further intensify bilateral relations. Kishida also noted he hopes to work with the newly elected leader to elevate their countries’ ties to a new level.
For his part, Italian President Sergio Mattarella hailed the bilateral friendship and cooperation amid the 50th anniversary of the two countries’ diplomatic ties, adding that he believes Italy and Vietnam will seize opportunities to further strengthen their strategic partnership and cooperation in the time ahead.
On this occasion, President Thuong also received
from President of Mongolia Ukhnaagiin Khurelsukh, President of the UAE Mohammed Bin Zayed Al Nahyan, and Vice President and Prime Minister of the UAE Mohammed Bin Rashid Al Maktoum./.
congratulations
VNA
Trial related to Development Bank postponed to April 17 www.gogo.mn
A court session of the case of the Development Bank which is connected with high officials of the State has started today. The court session is organized in closed mode and the proposal for delays has been submitted.
In particular, defendants have excuses such as having classes, foreign visits, requests of changing lawyers, just having a new lawyer, and health issues.
At today’s trial, a total of 191 participants including prosecuting attorneys, defendants, representatives of victim companies and lawyers have arrived. The case has 80 defendants.
By the request of defendants and their lawyers, the trial has been postponed to April 17.
China sets economic growth target of 5% as parliament opens www.aljazeera.com
China’s National People’s Congress (NPC) has kicked off its annual parliamentary session, announcing a modest target for economic growth of about 5 percent.
The session, which began in Beijing on Sunday, is also set to hand President Xi Jinping a third term in office and implement the biggest government shake-up in a decade.
Outgoing Premier Li Keqiang opened the meeting at 9am (01:00 GMT), reading out a work report that said it was essential to prioritise economic stability and set a goal of economic growth at “around 5 percent”, one of the country’s lowest in decades.
The report also announced a target of creating about 12 million urban jobs this year, up from last year’s mark of at least 11 million.
China’s gross domestic product (GDP) grew by just 3 percent last year, one of its worst showings in decades, squeezed by three years of COVID-19 restrictions, the crisis in its vast property sector, a crackdown on private enterprise and weakening demand for Chinese exports.
“Global inflation remains high, global economic and trade growth is losing steam, and external attempts to suppress and contain China are escalating,” Li said during his speech to open the parliament, which will run through March 13.
“At home, the foundation for stable growth needs to be consolidated, insufficient demand remains a pronounced problem, and the expectations of private investors and businesses are unstable,” he said.
The Chinese government also set a budget deficit target of 3 percent of GDP, according to the report, widening from a goal of approximately 2.8 percent last year.
Al Jazeera’s Katrina Yu, reporting from Beijing, said the economy was “front and centre” for the NPC this year. “The GDP target of 5 percent is on the lower end of what was expected, but that means that we’re not likely to see any aggressive stimulus measures. Instead, Beijing is going to focus on stabilising the economy,” she said.
The NPC opened on a smoggy day amid tight security in the Chinese capital, with 2,948 delegates gathered in the cavernous Great Hall of the People on the west side of Tiananmen Square.
It is the first NPC meeting since China abruptly dropped its zero-COVID policy in December, following rare nationwide protests.
Globally, China faces numerous headwinds, including worsening relations with the United States, which is trying to block its access to cutting-edge technologies, and fraught ties with Western Europe, a crucial trading partner, over Beijing’s diplomatic support for Russia in its war in Ukraine.
Li, in his work report, said China’s armed forces should devote greater energy to training under combat conditions and boost combat preparedness, and the budget included a 7.2 percent increase in defence spending this year, a slightly bigger increase than last year’s budgeted 7.1 percent rise and again exceeding expected GDP growth.
On Taiwan, Li struck a moderate tone, saying China should promote the peaceful development of cross-Strait relations and advance the process of China’s “peaceful reunification”, but also take resolute steps to oppose Taiwan’s independence.
Al Jazeera’s Yu said the rise in defence spending would equate to $224bn and said it indicated that China was “rather nervous and concerned when it looks at the geopolitical security situation”.
“The outgoing premier did mention in his speech that military preparedness is going to be a focus for China’s People’s Liberation Army going forward this year. It’s particularly concerned looking at its own back yard, specifically with Taiwan,” she said.
“China is also working to expand and boost its military activities and presence in the South China Sea and looking further abroad, Beijing was also concerned and watching closely the situation in Ukraine, as well as the situation in the Korean Peninsula,” she added.
This year’s parliamentary session will see Li and a slate of more reform-oriented economic policy officials step aside, making way for loyalists to Xi, who further tightened his grip on power when he secured a precedent-breaking third term as the Communist Party’s general secretary during its Congress in October.
During the NPC, former Shanghai party chief Li Qiang, a longtime Xi ally, is expected to be confirmed as premier, tasked with reinvigorating the world’s second-largest economy.
The rubber-stamp parliament will also discuss Xi’s plans for an “intensive” and “wide-ranging” reorganisation of state and Communist Party entities, state media reported on Tuesday, with analysts expecting a further deepening of Communist Party penetration of state bodies.
Steve Tsang, director of the SOAS China Institute at the University of London, said Xi now had an opportunity to flaunt his response to the pressure created by last year’s unrest.
“He acted decisively when the protests included calls for him and the CCP to step down. He quashed them and removed the basic cause,” he told the AFP news agency.
“He can present himself as leading from the front, rather than being pushed to react.”
SOURCE: AL JAZEERA AND NEWS AGENCIES
Savior of Przewalski’s Horses – The Prague Zoo www.montsame.mn
On January 29th, we met with Mr. Miroslav Bobek, the Director of the Prague Zoo, in Hustain Nuruu. We discussed the tragedy and eventual recovery of Przewalski's horses, the Prague Zoo’s ongoing projects, and new initiatives being implemented by the zoo.
Mr. Bobek is a zoologist who graduated from Charles University in Prague. Since 2010, he is serving as the Prague Zoo's director. In addition to being a zoologist, journalist, publisher, and author, Mr. Bobek is also the creator of numerous books, documentaries, and television shows about animals. He has also won renowned science and wildlife conservation awards. To name a few of his most recent accomplishments, he is in charge of initiatives such as the reintroduction of Przewalski's horses to their native land, Mongolia, and the conservation of gorillas in Cameron, Africa.
Under his direction, the Prague Zoo set a new annual visitor record, and information about rare and endangered animals became more widely available to the public. He first visited Mongolia in 2000 to conduct studies on animal migration. The President of Mongolia awarded Miroslav Bobek the “Medal of Friendship” in 2014 and the “Order of the Polar Star” in 2022 for his significant role in the reintroduction of Przewalski's horses to Mongolia.
Miroslav Bobek: "It's no accident that I became a zoologist, my grandfather was a hunter and my mother was a natural science teacher. I believe that all of this influenced me to choose a career related to the animal world."
The fourth project to reintroduce Przewalski's horses to Mongolia will take place in Eastern Mongolia
- The purpose of our trip to Mongolia this time is to work in the new location chosen for the reintroduction of Przewalski’s horses, as well as to meet with Mongolian officials and discuss this new project. Przewalski’s horses were reintroduced and are now reproducing in three other locations, Hustain Nuruu, Gobi’s “B” territory, and Khomyn Tal. Currently, there are no Przewalski’s horses in Eastern Mongolia. We chose Sumiin Khooloi in Khalkh Gol Sum of Dornod province in Eastern Mongolia as the site of our fourth reintroduction project after conducting in-depth fieldwork, biological research, and geographic analysis on the distribution of the animals, the yield of plants, species, pastures, topography, parasites, winter weather, and other factors. We are planning on signing the last necessary documents with the Mongolian side soon. Afterward, other important tasks, such as funding and transportation will begin. To start, we are planning domestic transportation of Przewalski’s horses to the east of Mongolia (the first transportation work from the Hustain Nuruu to Khalkh Gol is scheduled to be finished by 2026), followed by transportation of a number of Przewalski’s horses from the Czech Republic.
The majority of the funding will be provided by the Prague Zoo, and we'll coordinate efforts to secure additional funding from other sources. While in Mongolia this time, we met with the Minister of Environment and Tourism of Mongolia, the Minister of Food, Agriculture, and Light Industry of Mongolia, and the Governor of Dornod province. We conclude that the meetings were effective. They all warmly support the reintroduction of Przewalski’s horses in Dornod province. This project is anticipated to be advantageous to all parties.
From Prague to Khomyn Tal and to Takhiin Tal
-For the past twelve years, our zoo has been actively working on the reintroduction of Przewalski’s horses. Shortly after I was appointed as the director of the zoo, I visited a center where horses are trained for transportation to other locations; it was located 100 km from Prague. Two gates were there, one containing mares and the other stallions. The director of the center informed me that it was planned to transport these horses to Mongolia, but the transportation was cut off at that time and it was unclear when it would resume, so they were waiting. After learning about this, I told the director that I will arrange the transportation of these horses, which took the director by surprise.
There was news that approximately 50% of the previously transported horses had passed away due to severe weather conditions during those years. So I soon began looking for an aircraft to complete the transportation work in the quickest amount of time feasible. Because of our zoo's difficult financial status at the time, we were unable to rent a commercial airplane. So we went to meet with the General Staff of the Czech Armed Forces, explained our predicament to them, asking if they might assist. They agreed to fly us there using one of their aircraft. Petr Pavel, who was the Chief of General Staff of the Czech Armed Forces at the time, was elected President of the Czech Republic yesterday (28th of January). In May 2011, a military CASA aircraft flew the first Przewalski’s horse mares to Mongolia and landed at the Khovd provincial airport. Four mares were driven to Khomyn Tal from there in a car. The other mares were then transported from Khovd airport to Bulgan airport, where they were then sent to the "B" territory of the Gobi. Seeing these horses today thrive and graze in the countryside makes us incredibly proud. I recall the most emotional moment when we opened the crate and the Przewalski’s horses stepped out, with happiness after many hours of work and a 20-hour aircraft flight to arrive in Mongolia. We transported a total of 34 Przewalski’s horses to Khomyn Tal and Gobi’s “B” territory between 2011 and 2019 via 9 different shipments. One of our biggest accomplishments is this. Transportation is one thing, but the support and assistance for them to live in the wild is the most crucial component. We are therefore working on providing the preservationists with a comfortable environment, transportation, and support for their research.
The blood of the Przewalski’s horses from our Zoo is running through the bodies of many horses in Mongolia...
-You all might get surprised. There isn't a single horse that was born in the Prague Zoo in Hustain Nuruu, where we are right now. There was one... but it is no longer here.
However, this does not negate the Prague Zoo’s contribution to the reintroduction of Przewalski’s horses in Hustain Nuruu. Our zoo was involved in the projects from the beginning by donating our horses, and the chosen horses were settled in Mongolia. Hence, it can be claimed that the horses still carry a little amount of the blood of the Prague Zoo horses because the majority of the horses from the first generation to settle in Mongolia were from Prague. All of the horses that our zoo sent to Mongolia were not born at the Prague Zoo; rather, they were transported to Prague from various locations in Europe where horses are found and were then chosen to be transported. For generations, the horses in our Prague Zoo have been considered to be the healthiest and most genetically fit. Hence, horses from our zoo have been selected from the very beginning when Przewalski’s horses were first reintroduced to Mongolia, their native land.
“Little Mongolia” will open soon
May I surprise you again? Right now there are not any Przewalski’s horses on the territory of the Prague Zoo. Besides our Prague Zoo, five horses are placed in another site, and thirty horses are in a center where horses are trained for transportation to other locations. The reason for this is that we are currently trying to build a "Little Mongolia" that will depict the steppes and meadows of Mongolia in the area of the Prague Zoo where the Przewalski’s horses used to live. In other words, the visitors, who are coming to see the horses will not only learn about their history, their life in the wild, and their biology, but they will also learn about the steppes and meadows of Mongolia, how they were reintroduced to Mongolia and much more all in one setting. We believe that this will present several opportunities to increase scientifically based understanding of Przewalski’s horses while also promoting Mongolia and the horses around the world.
To be completely honest, our Prague Zoo does not rank among the best zoos in terms of territory size, funding, animal population, or species diversity. Yet we do rank in the top 10 zoos with the best living conditions for the animals.
The Prague Zoo is a place that has contributed the most to the rescue of the Przewalski’s horses, which were transported to Europe, from the danger of extinction over the years, and is still taking a leading role in reintroducing the horses to their homeland. Therefore, in 2021, the World Association of Zoos and Aquariums awarded the WAZA Conservation Award to the Prague Zoo for its "long-term contribution to the rescue of the Przewalski’s horses". "It was a great honor for us" Mr. M. Bobek recalled.
The introduction of Przewalski’s horses to the Prague Zoo dates back to the 1930s. In 1934, the zoo bought its first Przewalski’s horse from a wildlife dealer. Subsequently, in 1959, the reintroduction of the horse to its native land was initiated by the director of the zoo at that time, Professor Zdeněk Veselovský and Yuri Wolf. After more than 30 years, this initiative became a reality. Several Przewalski’s horses from the Prague Zoo were among the Przewalski’s horses that were brought back to Mongolia in 1992. Because the zoos in Prague and Munich housed the healthiest and most genetically fit horses in Europe.
Mr. M. Bobek noted that, along with the reintroduction projects, the Prague Zoo has been involved in the protection of the Mongolian Saiga antelope and the Mongolian wild Bactrian camel in recent years, and is providing financial assistance to implement projects.
B. Dulamdorj
Lithium brine drilling restarts in Mongolia www.news.mn
ION Energy Ltd. told investors it has restarted water well drilling at the Urgakh Naran lithium project, in Mongolia.
The company, which aims to specialise in lithium brine exploration and development, in a statement said that three water wells have so far been drilled at the project, for a total of 682 metres of drilling, to return lithium values.
Drill holes UNWH-01 and UNWH-02 were each drilled to a depth of 300 metres, whilst UNWH-03 currently at 82 metres and is continuing.
“Having previously reported strong results from the lithological holes, the company is now pleased to share that we are completing our third water well at the highly encouraging Urgakh Naran project,” said chief executive Ali Haji.
“Until recently, ION’s team had anticipated not being able to return to the site and resume this phase of our drilling program until much warmer weather, later in March.”
“We’re excited to already be in possession of the equipment necessary for bailer sampling, pump testing and hydrogeological testing, to advance the inferred resource calculations at Urgakh Naran.”
Sampling work is expected to start in the field in the coming weeks, the company added.
Additionally, ION noted that it had raised an additional C$40,000 of capital, through the placing of 100,000 new shares priced at 40 cents each. Meanwhile, certain consultants and insiders of the company were granted an aggregate of 2.07 million incentive stock options, vesting at 30 cents each for up to two years.
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