Sunday, February 10, 2013

Prosecutors seize Kincora, Gobi Coal & Energy licenses in relation to Batkhuyag case

February 7 (Cover Mongolia) A list was revealed in local media, of 107 licenses seized by authorities, that were issued illegally by the convicted former head of Mineral Resources Authority of Mongolia, D. Batkhuyag. A little research showed two of them were licenses acquired by Kincora Copper (TSX:KCC) from Forbes & Manhattan Inc.’s Aberdeen International (TSX:AAB), located adjacent to its Bronze Fox project in Umnugovi. One other license that the Mongolian article states, is owned by Origo Partners (LON:OPP) invested Gobi Coal & Energy, located in Shinejinst, Bayankhongor.

The list of 107:

14801Х, 14805Х, 14829Х, 14830Х, 14831Х, 14833Х, 14855Х, 14893Х, 14896Х, 14291Х, 14295Х, 14927Х, 15011Х, 15012Х, 15024Х, 15047Х, 15049Х, 15057Х, 15060Х, 15075Х, 15076Х (Kincora), 15086Х, 15087Х, 15092Х, 15093Х, 15095Х, 15097Х, 15107Х, 15113Х, 15126Х, 15128Х, 15130Х, 15131Х, 15133Х, 15137Х, 15138Х, 15139Х, 15141Х, 15142Х, 15145Х, 15154Х, 15157Х, 15158Х, 15165Х, 15168Х, 15188Х, 15192Х, 15195Х, 15203Х, 15212Х, 15215Х, 15218Х, 15221Х, 15223Х, 15232Х, 15240Х, 15246Х, 15247Х, 15252Х, 15253Х, 15254Х, 15258Х, 15259Х, 15262Х, 15263Х, 15295Х, 15316Х, 15328Х, 15329Х, 15343Х, 15347Х, 15349Х, 15351Х, 15355Х, 15360Х, 15363Х, 15364Х, 15367Х, 15369Х, 15376Х, 15389Х, 15402Х, 15408Х, 15416Х, 15418Х, 15423Х, 15425Х, 15437Х, 15452Х, 15474Х, 15484Х, 15494Х, 15514Х, 15516Х, 15517Х, 15525Х, 15529Х, 15530Х, 15541Х, 15546Х (Gobi Coal & Energy), 15547Х, 15549Х, 15557Х, 15568Х, 15578Х, 15630А, 5261Х.

The licenses involved in the SouthGobi Resources (TSX:SGQ) subsidiary SouthGobi Sands’ case, 9442Х, 5259Х, 5277Х, and 12388Х are not included in the above list but are believed to be handled separately. The story goes that 5 of their licenses were to expire but 4 of them were allegedly issued back illegally, while 5261Х, included in the above 107, was issued to Zelem LLC, owned by a friend of Batkhuyag.

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