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KingFox

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  • Diamonds Are A Girl's Best Friend, But Can Lucara Diamond Be My Best Friend? [View article]
    Your tax rate is definitely not conservative, in fact it will be closer to 30% this year, as per recent conference call, and is on a sliding tax scale, that I believe can top out at ~40% depending on profitability. Now if Lucara were to purchase BK11 from Firestone, just 5km or so down the road, they could possibly get a $45M tax loss that might be usable. Lets see how the negotiations go for BK11 and what they pay for it.
    Aug 18 07:33 PM | 1 Like Like |Link to Comment
  • Mongolia Weekly Update [View instapost]
    So it appears the two infants are still not playing "nice" ..
    http://bit.ly/1yERpnD
    Jun 23 09:25 AM | Likes Like |Link to Comment
  • Mongolia Weekly Update [View instapost]
    Rio and Chalco working together on a large African project. Mongolia on the outside looking in.

    http://bit.ly/1huxhd2
    May 27 11:37 AM | 2 Likes Like |Link to Comment
  • Mongolia Weekly Update [View instapost]
    blah, blah, blah, this game of tennis has gotten old and just about everyone has left the stadium. Who cares really, September will come and go and it is unlikely anything will be settled. One can only hope that the relatively short term pain that Mongolia has inflicted on itself, will all be worth it in the end. I have my doubts as the leadership there has shown that they are spoiled/greedy little kids playing with big boys in Rio, China, Russia et al.
    May 2 11:01 AM | 2 Likes Like |Link to Comment
  • Mongolia Weekly Update [View instapost]
    Indeed and that is what stuck out to me. Of course weak data out of China, that I have no doubt is completely manipulated for some other agenda, is not helping market perception. Anyone with thoughts on the recent and continued brush up involving Russia and the impact this will have on Mongolia. It appears, and not surprisingly, the US has a little more political interest in the area.

    http://wapo.st/R5zxRY
    Apr 10 08:52 AM | 2 Likes Like |Link to Comment
  • Mongolia Weekly Update [View instapost]
    ho, hum …. more waiting …. one day, one day !!!


    http://bit.ly/1hx7oYM
    Apr 7 09:13 AM | 1 Like Like |Link to Comment
  • Mongolia Weekly Update [View instapost]
    Maybe these types of situations, highlighting a growing sovereign risk, that may get worse before it gets better, is perversely good for my position (long TRQ / EGI, foolishly thinking it cant get any worse for these positions) and that it gives RIO a stronger position to deal from in its operations within the country. Of course assuming that RIO has shareholders, my best interest in mind. Ha !!

    Broke one of the fundamental rules of investing and fell in love with a position, and now paying for it !
    Feb 6 09:03 AM | 2 Likes Like |Link to Comment
  • A Positive Outlook On Mongolia [View article]
    Wow, looks like the paper flew off the shelf, especially in the US. Now what remains to be seen is where/how is the GOM going to spend all that money ?

    Maybe they should set up some "state-owned" entities and buy some cheap companies operating in Mongolia, TRQ, SGQ.....
    Nov 29 08:52 AM | 2 Likes Like |Link to Comment
  • Rio Tinto Vs. Mongolia, Destination Unknown [View article]
    Also being reported in HK press that the road show for the expected USD sovereign bond begins tomorrow, 22nd, with BofA, Deutsche, HSBC, JPM, and TDB Capital getting the green light from the GOM. (Initially Citi and ING were given the nod over SIX years ago !)

    I'm guessing this will be one of, if not the lead piece of info for the foreseeable future.

    I have to think that if you were looking at taking down some of this paper, that you would have to be somewhat confident that the country is moving forward and not stuck in the sand. Who would you ask, for that assessment ?

    Anyone know who Rio's lead bank(s) is ?
    Nov 21 12:52 PM | 1 Like Like |Link to Comment
  • Rio Tinto Vs. Mongolia, Destination Unknown [View article]
    Hey Sahwa,

    In doing some research on the local election I did notice that both leading parties seemed to be very heavily involved with candidates from their respective sides. I assumed that like any election, it would be expected that there would be lots of "talk" leading up to the day. I thought this might explain some of the posturing that was going on. Given, from an outsiders point of view, western at that, not all of it seems logical.

    Clearly the March Presidential election and the 4 year power of veto will be critical for any power base/interest in the country. I'm assuming this is going to be a very critical and highly contested election.

    Would appreciate any thoughts/recap of the local elections from your point of view.

    KF
    Nov 20 10:24 AM | 3 Likes Like |Link to Comment
  • Cnooc (CEO) has reportedly accepted conditions set by the Canadian government as it decides whether to approve the Chinese company's $15.1B acquisition of Nexen (NXY). The government adopted many of the terms requested by Alberta Premier Alison Redford, which include guarantees that at least half of Nexen’s board and management be Canadian, and that staff levels be maintained for at least five years. [View news story]
    In addition CBC reported last night that a reporter received a leaked "secret" government document on a change in foreign policy, that on the surface looks as though Harper et al are preparing the market for approval of such takeovers, Cnoooc/Nexen. Wouldn't be surprised if the government leaked the document themselves .....

    http://bit.ly/TO4bIg

    Seems to be getting very little follow through coverage though.
    Nov 20 09:58 AM | Likes Like |Link to Comment
  • Rio Tinto Vs. Mongolia, Destination Unknown [View article]
    I'm assuming, from the general lack of discussion, that the local elections on the 21st will have little influence or change in the political environment, with respect to economic issues. Wondering if anyone is able to confirm that or has any comments surrounding these elections.

    Is it possible that the frosty political environment of late is a result of waiting to get these elections out of the way ?

    Cheers.
    Nov 19 12:30 PM | 2 Likes Like |Link to Comment
  • Mongolia Investment Climate At The Moment: Uh-Oh [View article]
    Also, yesterday Prophecy Coal announced a MOU with a "strategic partner" to push its project forward. Someone is still interested in investing, or at least looking at investing.

    http://mwne.ws/S0g2VR

    Further the IMF released a document today titled "Safeguarding Domestic Revenue" some good tax reading for those technically inclined.

    http://bit.ly/S0icVy
    Nov 15 10:11 AM | 2 Likes Like |Link to Comment
  • Mongolia Investment Climate At The Moment: Uh-Oh [View article]
    Although not progress on Power Plant 5, looks like Mongolia is importing a Russian made turbine to increase capacity, 20% to UB, at Power Plant 4 a coal fired plant. Has to be good news for coal.
    http://bit.ly/SOQKsT
    Nov 15 09:35 AM | 3 Likes Like |Link to Comment
COMMENTS STATS
14 Comments
14 Likes