MRC: Quarterly Report
July 31, Mongolian Resources Corporation ( ASX:MUB) --
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CORPORATE FINANCES
The company's cash reserves sit at US$1.81m at the end of June, 2012 with a planned budget for Quarter 3, 2012 of US$1.2m. Given the permitting issues discussed above the company has rescheduled its production to late quarter 3 commencement and but is still expected to achieve positive cashflow this year.
MONGOLIAN PROJECTS
Status on work completed this quarter includes
• Overall 100tpd Plant readiness awaiting Cyanide Permission
• Further upgrade of Gravity plant with installing of larger ball mill and new centrifugal concentrator
• Mine Contractor selection has identified Filipino Paramina Group
• Underground Drill rigs being mobilized to commence 6,300m drill program.
…
Link to reportLink to cashflow report
…
CORPORATE FINANCES
The company's cash reserves sit at US$1.81m at the end of June, 2012 with a planned budget for Quarter 3, 2012 of US$1.2m. Given the permitting issues discussed above the company has rescheduled its production to late quarter 3 commencement and but is still expected to achieve positive cashflow this year.
MONGOLIAN PROJECTS
Status on work completed this quarter includes
• Overall 100tpd Plant readiness awaiting Cyanide Permission
• Further upgrade of Gravity plant with installing of larger ball mill and new centrifugal concentrator
• Mine Contractor selection has identified Filipino Paramina Group
• Underground Drill rigs being mobilized to commence 6,300m drill program.
…
Link to reportLink to cashflow report
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