After nearly losing its license to Mongolian politics to its current status as the sought-after prize in a tug-of-war between China and Russia, Khan Resources is experiencing one heck of a year.

With the announcement that uranium explorer Khan Resources hopes to sell all of its shares to China's largest provider of nuclear power, the recent long nightmare surrounding the company's ability to continue to conduct business in Mongolia may be finally coming to a close.

But, Russia's largest uranium producer isn't about to give up on Russia's lengthy battle with the Chinese to control Mongolia's mineral wealth.