Khan Altai Resource develops the gold mining project based on Khan Altai gold deposit which is considered the biggest in Mongolia at the moment with 102.06 Mt of ore that contains 85.39 t gold with average grade of 0.94 g/t. The deposit locates in western Mongolia, 1,000 km from Ulaanbaatar city. The company holds the mining license which covers 6,700 ha area and is valid until 2050. The project is being developed in two phases where the Phase I operation has just started to process 3 Mtpa oxide gold ore with heap leaching technology. The Phase II operation will process the primary gold ore. As of today, only 60% of the overall potential mineralization zone has been drill verified. The exploration is still ongoing.