Sharyn Gol JSC

Sharyn Gol JSC is currently redeveloping its mining operations which will elevate the company from a small to mid tier coal producer, and improve the quality of the coal products from Sharyn Gol mine. The JORC Resource, released in February 2011, trebled the original Soviet reserves with more than 73% of the deposit now designated at Measured and Indicated status. More than 90% of the resources is less than 300m depth. Planning is now underway to substanitally increase production over the next 2-3 years. The Company's immediate goal is to re-establish production to its designed capacity of 2.5 MTPA by introducing modern mining equipment and methods. Sharyn Gol currently produces two coal products based on size fraction, both of which are largely sold to domestic utility markets. Currently, no blending or washing of the coal is undertaken. All coal produced is readily sold.