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Aspire Mining fully-funded to progress Ovoot early development plan after strategic financing

Aspire Mining Ltd (ASX:AKM) managing director David Paull speaks to Proactive Investors about the company’s recent strategic financing and its development of the Ovoot Coking Coal Project in Mongolia.

“We’re well-funded now to complete the pre-feasibility study, and feasibility studies, that are required to confirm the early development project for Ovoot,” Paull says.

He continues, “the early development project … comprises both the mine site mine planning exercise for the carve-out of the low-ash, high-yielding section of the Ovoot project and also establishing a direct haul road.

“We’re looking at a combination of diesel genset as support for a solar power station … so that’s an interesting occurrence [where] you’ll have a coal mine operation using solar as its predominant power source, which is a sign of the times.”

Quick facts: Aspire Mining Ltd

Price: 0.075 AUD

Market: ASX
Market Cap: $38.07 m

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Full interview: Aspire Mining receives additional undertakings from major...

Aspire Mining Ltd (ASX:AKM) managing director and chairman David Paull updates Proactive on receiving additional commitments from major shareholder Mr Tserenpuntsag in relation to his proposed $33.5 million equity investment in company. Mr Tserenpuntsag will exercise all his 153.3 million...

on 14/11/19

2 min read