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John Polomny is an individual investor and speculator seeking unique, overlooked, and well researched opportunities and speculations from all over the world.
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  • Oyu Tolgoi Begins Concentrate Shipments 0 comments
    Jul 9, 2013 7:53 AM | about stocks: TRQ

    Finally!!

    Turquoise Hill Resources today announced that the Oyu Tolgoi mine has commenced shipping copper concentrate. The initial sale of approximately 5,800 tonnes of concentrate is being sent to customers in China. A convoy carrying approximately 600 tonnes of concentrate departed from the mine on Tuesday, July 9, 2013 with the remainder of the shipment taking place over the next two weeks.

    This is a long time coming and should represent the inflection point for Mongolia. With the elections out of the way we can now be hopeful that confidence can slowly be rebuilt in Mongolia as an investment destination. This news is a major catalyst for growth and should lead to around $2 million per day of revenue for the Mongolian government.

    Disclosure: I am long TRQ.

    Themes: Mongolia Stocks: TRQ
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