 |
The Company's key growth assets are its very strong portfolio of uranium projects in Mongolia. Unlocking the value in these assets through exploration and pursuit of a coherent business strategy will be the Company's priority in 2007 and beyond. The Mongolian uranium portfolio is led by the Ooshin Govi project where East Asia Minerals Corporation exploration has confirmed the potential for a large tonnage in-situ leach amenable uranium resource. The Company's 2006 exploration program also successfully confirmed the prospectivity of several other projects in the uranium portfolio, in particular Enger, Bayan Uul and Airag 1, and future work on these projects will be aimed at further defining their potential.
The EAS team has extensive experience in Mongolia, and aims to utilise this and their extensive network of contacts to pursue further uranium opportunities in this country of exceptional and under-tested mineral potential.
At the Company's Khok Adar copper oxide project in western Mongolia, 2006 exploration defined the limits of the EC-1 exotic copper oxide, and was focused on discovery of additional resources outside of EC-1. Whilst some potential remains, initial testing of targets outside of EC-1 have thus far failed intersect significant amounts of high grade oxide copper. A review of the Company's future activities on this project is underway.
It should be noted that as currently understood, the Mongolian windfall tax introduced in 2006 is to be levied only on copper concentrate and gold, and does not pertain to cathode copper as would be envisioned at the Khok Adar project, or uranium production.
| |
| |
