What Caused Aspire Mining’s Share Price to Surge 7.14%?

Coal and infrastructure business, Aspire Mining Ltd [ASX: AKM] have grown in share value by 7.14% this morning.

The growth mainly stems from its focus in exploration and development of coal assets across Mongolia.

Currently, Aspire owns 100% of a large scale Ovoot Coking Coal Project and 90% interest in Nuustei Cooking Coal project, which are both located in Mongolia.

Both projects have displayed positive results, Aspire even plan to restart the drilling project of its Nuustei Coal Project.

Aspire Mining is a multimillion dollar coal development company, which holds a high percentage of interest across many of its projects.

They are currently based in Weslhpool, Australia.

How Aspires projects benefit its result

Nuustei coal project is producing quantities of raw coal which is purposed for local thermal usage.

Locals using thermal coal, also helps with Aspires production ratio, increasing further demand.

Aspires Ovoot coal project is mainly dependent on the construction of the Erdent railway. The project has seen an extensive amount of success and will be further continuing its production. The railway will be progressed by Northern Railways as construction will be set to take place.

Aspire have taken steps to further innovate their brands strategy by testing logistical variations across different sites.

Aspire Mining stated in their 2018 quarterly report:

The Company has engaged, PSST LLC, a Mongolian mining contractor that it will manage on behalf of the Government Agency. The mining contractor is now being mobilised to site. The strategy is to use this coal to test logistics and cost assumptions to be used in the Nuurstei Project Feasibility Study by transport of this raw coal along existing road and rail facilities for delivery to export markets in China, Russia and potentially, Korea and Japan.

Aspire Mining own 100% in three of four of their projects.

They have entered an agreement that is purposed to provide additional funding.

Aspire has the right to convert one million of their debt into equity before August next year.


Ryan Clarkson-Ledward,
For Money Morning

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