Bought into these this morning on a BUY recommend from RHPS. Traded on Toronto SE plus a listing on AIM since September.

Seems like there's lots of proven gold and copper near the surface 10 miles from the main railway line from Moscow to China to take this commodity straight to the current major growth area in the world.

Proven reserves of gold 1.876m tr oz, copper 215.6m lb - at today's prices worth 584m.

Assuming gold at $375 per tr oz gold and $1 per lb of Cu with operating costs of $170 per tr oz (8th lowest out of 44 gold producers) gives a NPV of 157m. Heavily discounted at 10% (K'stan generally discounted at 7.5%) still gives a 60M NPV compared to current market cap of 27.5m.

Debt financing from Barclays Capital is in place for development, but a 20-30m placing is coming up shortly. This could present the opportunity to buy in a few more at a disount after I have got to know the stock a bit better.

Seems like a worthy punt to me. DYOR

SD

looks like the retracement over now that's have some volume and away we go.