During today's cabinet meeting, the Government approved issuance of bonds worth $ 287.5 million dollars in stages. Ivanhoe Mines Mongolia Inc proposed to transfer the advance payment in following three 3 stages.
1st. transfer $ 100 mill within 14 days of signing of the investment agreement
2. transfer $ 50 mill within 14 days of effective date of the agreement
3. transfer rest of $ 100 mill within 14 days of raising funds necessary for building open and underground mine shafts at the site.
Reporting by Ganbat, reporter of MonInfo news service