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Western Prospector shares fall 66% due to Mongolia revoking mining rights at Saddle Hills, other sit |
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Thursday, 23 August 2007 |
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Canada’s Western Prospector
Group’s stock plunged 66 percent on news that the company might receive
additional cancellations of mining licenses by Mongolia.
This follows the August 21
announcement that Western Prospector had lost its license to explore
uranium deposits at Mongolia’s Saddle Hills Project.
In all, Mongolia withdrew 34
licenses from Western Prospector at 18 sites controlled by the company.
The company’s shares closed
down from $1.83 to 96 cents on the TSX Venture Exchange – after trading
resumed in mid-afternoon – on a volume of 3.2 million shares.
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