Sign up Australia
Proactive Investors - Run By Investors For Investors
Market: ASX
52-week High/Low: A$0.26 / A$0.17
Sector: Mining
Market Cap: A$107.36M
Xanadu Mines

Xanadu Mines

Xanadu Mines (ASX:XAM) is an exploration company with a long history of business development and partnership in Mongolia. It has a significant exploration portfolio across Mongolia’s porphyry copper belts.

Xanadu Mines

Interactive graph

col 3
col 4
col 5
col 6

Xanadu Mines Snapshot

Xanadu is an exploration company with a long history of business development and partnership in Mongolia.

Xanadu has assembled a significant exploration portfolio across Mongolia’s porphyry copper belts. These belts are part of the larger Central Asian Orogenic Belt and represent one of the last great exploration frontiers known to host large porphyry copper deposits. Mongolia is emerging as a globally significant copper producer.


Xanadu has assembled a significant position across Mongolia’s porphyry copper belts. Xanadu maintains an active exploration and business development program and is constantly evaluating new project opportunities. Xanadu’s key projects are summarised in the following pages and more detailed information can be found in the company’s ASX disclosures and Independent Technical Reports.

Xanadu's Exploration Projects

The exploration potential of Mongolia is only just being recognized. It remains under-explored despite the potential identified in two key copper belts:

  • Middle Paleozoic South Gobi Poprhyry belt (Gurvansayhan terrane) is a 600 x 200km arcuate belt formed from Middle to Late Palaeozoic volcanic and sedimentary rocks that have been intruded by Late Devonian and Carboniferous granitoids. It hosts most of the known porphyry and intrusion-related mineralisation in the South Gobi region including the giant Oyu Tolgoi copper-gold mine (2.4Bt @ 0.78% Cu & 0.33g/t Au) and Tsagaan Suvarga copper-molybdenum project (240Mt @ 0.53% Cu & 0.018% Mo); and
  • Early Mesozoic Selenge Poprhyry Belt formed within a continental magmatic arc on the margin of the Siberian Craton that developed in response to the closing of the Mongol-Okhotsk Sea and subduction of the palaeo-Pacific ocean below the Siberian Craton. It hosts the giant Erdenet deposit (1.78Bt @ 0.62% Cu, 0.025% Mo) which is Mongolia’s largest producing porphyry copper-molybdenum deposit.




On 3 February 2014, Xanadu announced that its joint venture company, Mongol Metals LLC, entered definitive agreements to acquire a 90% effective interest in the Kharmagtai advanced porphyry copper-gold exploration project. Approval by Xanadu’s shareholders is condition of the transaction.

Kharmagtai is located in Omnogovi Province, approximately 420km southeast of Ulaanbaatar. It is within the South Gobi porphyry copper province which hosts most of the known porphyry deposits in the South Gobi region of Mongolia, including the Oyu Tolgoi copper-gold operations (120km south), the Tsagaan Suvarga porphyry copper-molybdenum development (170km east) and Xanadu’s Oyut Ulaan porphyry copper-gold exploration project (260km northeast).

Kharmagtai License Map

(click here for more information on this project)

Oyut Ulaan

The Oyut Ulaan (Red Mountain) porphyry copper-gold project is located within the Dornogovi Province of southern Mongolia, approximately 420km southeast of Ulaanbaatar. The exploration prospect is strategically located 70km west from the provincial center, and future industrial center, of Sainshand.

The porphyry mineralisation at Oyut Ulaan is associated with late-stage monzonite and quartz diorite porphyry dykes and stocks emplaced on the flanks of the Oyut Ulaan Intrusive Complex (OUIC). Alteration and mineralisation at Oyut Ulaan is characterised by multiple co-genetic copper-gold porphyry centres, tourmaline breccia pipes and copper-gold/base metal magnetite skarns.

Exploration at Oyut Ulaan has defined broad zones of strong quartz stockwork veining and associated high-grade gold mineralisation (typically around 0.5 to >5 g/t gold and 0.3 to 1.5% copper). The geology, strength of alteration and style of mineralisation also suggest that the mineralisation will extend at depth.

Oyut Ulaan License Map

Sharchuluut Uul

The Sharchuluut Uul (Yellow Mountain) porphyry copper project is located within the Bulgan Province of Northern Mongolia, approximately 230km northwest of Ulaanbaatar. The project consists of a cluster of porphyry related lithocaps occuring within a 15km northwest oriented corridor of porphyry-related alteration and mineralization. This is at the north-western extremity of the Selenge Porphyry belt which hosts the Erdenet copper-molybdenum deposit.

The Sharchuluut Uul is characterised by the erosional remnants of an advanced argillic lithocap. Several prominent siliceous ledges occur within massive chalcedonic silicification, residual silica, quartz-alunite-diaspore and quartz-pyrophyllite. The lithocap is underlain by sodic illite-pyrite, and laterally enclosed by green andesitic volcanic rock (chlorite-epidote). All alteration types are stained by jarocite and clearly have appreciable pyrite contents at shallow depths. Alteration and field relationships suggest a high level of formation above a deeper porphyry intrusion.

Sharchuluut target map

Last updated 22nd April 2015.


Andrew Stewart
Chief Executive Officer
B. Sc (Honours) Phd (Economic Geology) MAIG

Andrew is a geologist with over 15 years experience in minerals exploration primarily focused on project generation and evaluation and development of exploration strategies throughout Asia and Eastern Europe. Andrew has experience across a broad range of commodities and has particular expertise in porphyry copper and epithermal gold deposits. Andrew has held senior technical and management positions at Ivanhoe Mines and Vale in Mongolia and Indonesia and has been involved in several greenfield discoveries.



Munkhsaikhan Dambiinyam
Chief Financial Officer
B.Acc (Honours), MSc Fin

Munkhsaikhan is a finance professional with more than 10 years of experience in mining, mining services and financial advisory. Previously, he held CFO and Executive Director positions at a mining services firm with operations in Central Asia. Munkhsaikhan holds a Master of Science in Finance from the University of Utah and completed an Executive Program at Western University.



Janine Rolfe
Company Secretary
BEc LLB (Hons)

Janine was appointed Company Secretary of Xanadu in November 2013. As an experienced corporate lawyer and company secretary, Janine established the business now known as Company Matters in 2006. Previously, Janine was a Company Secretary at Qantas Airways Limited where she was responsible for the day-to-day management of all public company issues arising within the Qantas Group. Prior to that, Janine was a Solicitor at Mallesons Stephen Jaques (now King Wood Mallesons), working in the mergers and acquisitions and corporate advisory teams.




Last updated 22nd April 2015.

Company Name
Xanadu Mines Limited

Stock Exchange Listings
Australian Securities Exchange (ASX)

ASX code:

92 114 249 026

Internet Address

Registered Office - Australia
Level 12
680 George Street
Sydney NSW 2000

Telephone: +61 2 8280 7497
Facsimile: +61 2 8280 0350
Email: [email protected]

Postal Address
PO Box 20675
World Square NSW 2002

Registered Office - Mongolia
2nd Khoroo, AOS Street
Military Town, Bayanzurkh District
Ulaanbaatar, Mongolia

Telephone: +97 6 7012 0211
Facsimile: +97 6 7013 0211

Registered Office - Hong Kong
Level 51, Suite 5158
Hopewell Centre
183 Queens Road East
Wanchai, Hong Kong
Hong Kong SAR
Telephone: +852 3602 3000

Share Registry
Computershare Investor Services Pty Ltd
Level 3, 60 Carrington Street
Sydney NSW 2000

Company Matters Pty Limited
Level 12, 680 George Street
Sydney NSW 2000

Ernst & Young
680 George Street
Sydney, NSW 2000

Last updated 22nd April 2015.

Xanadu Mines Timeline

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use