RE: Tugalgatai Coal Licenses, Mongolia That is a mystery. You are running out of money but you go out and spend a small fortune on something you already have more than enough of. I agree with you that there is more to this unless Lee was just being reckless. Who knows what agreements have been made behind the scenes to advance the project.
PCY has made every effort to be sensitive to local needs including (expensive) goodwill gestures. To date we have yet to hear of any negative feedback directed at PCY by govt officials. We all know that Mongolia needs a lot more power in the short term. The question I ask myself is: why would the Govt not give this particular project the go ahead? I cannot think of a single rational reason. It is clearly in their national interest.