CAPITAL MARKETS

Mongolian float targets more than coal

WITH sparsely populated Mongolia emerging as an exciting mining frontier, copper, gold and coal explorer Xanadu Mines will float in late December at A60c per share to raise $15-21 million.

Blair Price

Mongolian float targets more than coal

Existing shareholders include Straits Asia and the Talbot Group, and the float is expected to give Xanadu a market capitalisation of $90-100 million. The private company started exploring Mongolia...

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