Western Prospector shares fall 66% due to Mongolia revoking mining rights at Saddle Hills, other sit PDF Print E-mail
News - Mining
Thursday, 23 August 2007 14:14

 

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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