Lotus Bayalag Fluorite LLC

Project Description

Lotus's Gat project is located in Mongolia's central eastern region approximately 190 km southeast of Ulaanbaatar and about 110km northwest from the provincial capital city of Undurkhaan. The project lies within Mongolia's Khentii Province and covers an area of 10.67km2 in hilly terrain on the northern periphery of the Gobi highlands. This region forms part of the Gobi high plain located at an altitude of 1300 and 1500m ASL.

The region is sparsely populated however has well developed infrastructure. It is accessible via the paved highway A0501 which connects Ulaanbaatar and Undorkhaan, then by a 2km gravel road to the site. Electric power lines exist in the along the main highway A0501 at the turn off to site; the closest village with electricity is about 4 km away.

The nearest major town, Baganuur, is located some 70 km to the northwest of the project area and has a population of approximately 100,000 people, well developed facilities and accommodation. The town is located on the Trans-Mongolian railway as it is near one of the country's largest coal deposits currently in operation.

Project Status

Lotus Mongolia Minerals LLC (the Mongolian registered company of Lotus Resources Plc) successfully negotiated with Mr. Onon (holder of the Gat project licence) the establishment of a joint venture (JV) company called Lotus Bayalag Fluorspar LLC in January 2009. Mr. Onon, a private individual, secured the exploration rights to the Gat exploration licence 14833X. On the 15th of May 2009 the exploration licence was transferred into the joint venture company where Lotus is the majority shareholder with a 80% interest.

Due to funding problems, Mr Onon was unable to undertake any exploration work within the exploration licence area and as such the tenement has been under care and maintenance since late 2008.

Further Information

Technical report PDF (915KB)

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