Aspire Mining Limited (ASX:AKM) owns 100% of the Ovoot Coking Coal Project in northern Mongolia, which ranks as the second largest coking coal Project by Reserves in the Country. Aspire is focussed on the development of the Ovoot Project targeting a large scale open pit mining operation, to commence in 2016, producing up to 12 Mtpa high quality coking coal at full production.

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Aspire Mining: to benefit from Russia, China, Mongolia infrastructure deals

2014-07-16 by Proactive Investors 

- Aspire Mining Ltd (ASX: AKM) owns the Ovoot Coking Coal Project (Ovoot), and is also progressing the Northern Line Rail Line (NRL) in Mongolia.
- Ovoot is one of the largest undeveloped coking coal projects globally. Its appeal is evidenced by the Aspire / Noble Group alliance.
- Along with Tavan Tolgoi, Ovoot is recognised as one of the key potential coal suppliers to Mongolia's Sainshand Industrial Park.
- Current off take interest in Ovoot coking coal exceeds targeted production.
- The Ovoot project requires a 547km ($1.3b) rail line linking the project to existing rail infrastructure.
- Request for a Concession from Northern Railways LLC is awaiting approval for construction by the Mongolian government. This would de-risk the entire Ovoot project.

ANALYSIS & VALUATION
Aspire Mining Ltd is currently capitalised at $22.4 million, of which $4.6 million is cash and places an Enterprise Value "EV" of $23.2 million on total JORC Compliant Resources of 281 million tonnes of coking coal, or an EV of US$0.08 (8c) per tonne. Aspire's Ovoot Project has a JORC Probable Reserve of 255Mt, or EV/t Reserve of $US0.09 (9c).