Mongolia Energy Corporation (HKG:0276) has published an update on the termination of acquisition of resources in Xinjiang, the PRC.

The company said that on 2 February 2012, it received a partial repayment of HK$50 million from Liu Chenglin, leaving the balance of HK$150 million unsettled.

Liu has also requested a further period of up to 31 March 2012 to be granted to him for settlement of the repayment sum.