THl Mongolia Ltd acquires 70% of KMNG LLC
Ying Yu Tang, President of THL Mongolia Ltd, a fully owned subsidiary of Trendfield Holdings Ltd,
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 last Monday that THL Mongolia Ltd has purchased 70% of KMNG LLC holdings with the option to purchase another 20% within 3 years.
KMNG, who is located in Ulaanbaatar, owns 3 explorative licenses - 13602X, 13603X, and 13408X - cumulating a total area of 1935.5 km2. These licenses are located in the South Gobi Province at the southern border of Mongolia in the territories of Hanboulag, Khanbogd, Sayshand and Dalanazadgad.
Mr. Tang has declared this was an opportunity to expand the company’s commodity base and develop its projects and partnerships on the ground in Asia.
The company also believes that these licenses may offer interesting exploration prospects for copper, gold, and rare earth elements due to their location and proximity to the world class Oyu Tolgoi Project.
Trendfield, a private international exploration and consulting firm exploring mineral rich regions and developing them into productive and profitable operations for the Asian market, was created in 1997 to generate greater investment opportunities for the Asian energy sector.
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