Kharmagtai project to be carried out over 10 years

The American Chamber of Commerce in Mongolia

2018-10-03 14:38 GMT+8

Australian Stock Exchange-listed Xanadu Mines Ltd plans to complete the preliminary economic assessment for the Kharmagtai gold-copper project in the fourth quarter of the year.

Managing Director of Xanadu Mines Andrew Stewart reported that the Kharmagtai project will be carried out for a decade, and that stakeholders have invested 25 million USD in the project over the last 3-4 years. The price of Xanadu Mines stock has dropped by 50 percent, to 0.14 AUD, since the beginning of 2018.

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