Mongolia Inv (HKG:0402): licences not affected by revocation

In an announcement referring to news reports that the Mongolian government would revoke at least 254 mining licences for gold across the country on environmental grounds, Mongolia Investment (HKG:0402) says that it holds, through subsidiaries in Mongolia, 4 gold and copper exploration licenses. In about August, the company's subsidiaries commenced initial exploration on the said licences but such activities have not yet form part of the company's core activities. The company immediately made enquiries in Mongolia including with its Mongolian legal advisor. The company is satisfied that, if revocation is to be implemented as mentioned in the news articles, the validity of the licences held by the company's subsidiaries in Mongolia will not be affected.