Peter Akerley, Erdene president and CEO, said Xstrata hired Citibank to search for potential buyers. That process should be concluded by the end of the year. If Xstrata fails to find someone to operate the project, he said it was unlikely that Erdene, which has a 25% interest in the project, would continue the exploration phase by itself. That admission is not overly surprising: the Dartmouth junior mining company had revenues of less than US$900,000 in 2011. Akerley told shareholders the company plans to separate the company’s coal assets and its metals interests in Mongolia into two separate entities. He said the move would prevent unnecessary dilution of both assets.