Aspire to kick start Mongolian project

摘要

Australian listed Mongolian metallurgical coal developer, Aspire Mining, has completed a A$33.5m placement with major shareholder Tserenpuntsag Tsedendamba to lift his shareholding in Aspire from 27.5% to 51%. With about $41m in cash and no debt, Aspire is well placed to develop the first stage of the 100% owned Ovoot Coking Coal Project in northern Mongolia.