THl Mongolia Ltd Purchases 70% of Mongolian Exploration Company
HONG KONG -- 03/02/10 -- Ying Yu Tang, President of THL Mongolia Ltd, a fully owned subsidiary of Trendfield Holdings Ltd,
HONG KONG -- 03/02/10 -- Ying Yu Tang, President of THL Mongolia Ltd, a fully owned subsidiary of Trendfield Holdings Ltd, and Bayan Tsogbadrakh, Managing Director of KMNG LLC, announced on Monday March 1, 2010 that THL Mongolia Ltd has purchased 70% of KMNG LLC (KMNG) holdings with the option to purchase another 20% within 3 years.
KMNG is located in Ulaanbaatar, Mongolia and owns 3 explorative licenses 13602X, 13603X and 13408X. These licenses are located in the South Gobi Province at the southern border of Mongolia, in the territories of Hanboulag, Khanbogd, Sayshand and Dalanazadgad. The cumulative area of the licenses is 1935.5 km2.
According to Mr. Tang, President of THL Mongolia, "Trendfield has been searching long and hard for an opportunity such as this.
These permits, their location and proximity to the world class Oyu Tolgoi Project makes this a win-win project for all persons involved.
We see this as an opportunity to expand our commodity base and begin to develop our projects and partnerships on the ground in Asia. We believe that these licenses may offer interesting exploration prospects for copper, gold, and rare earth elements."
About Trendfield Energy and Resources
Trendfield Energy and Resources is a private international exploration and consulting firm exploring mineral rich regions and developing them into productive and profitable operations for the Asian market. Trendfield was created in 1997, to generate greater investment opportunities for the Asian energy sector, however since our inception, we have expanded globally and now have offices in China, Mauritania, Niger, Mongolia and Hong Kong and representation offices in Ecuador, Guinea and Korea.
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