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A.tom

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  • Rio Tinto's Oyu Tolgoi mine faces new audit claiming unpaid taxes, penalties [View news story]
    Given GOM loss to Khan Resources in international arbitration, hopefully the threat of more proceedings is enough to force a resolution.

    I really don't understand this claim by the govt. They borrowed $250million from OT a few years back (which was wasted on handouts to the populace) and have yet to pay anything back. Why not let the company get it back through tax deductions? It's becoming apparent that nothing is going to proceed with TRQ until after the next election in 2016.
    Jun 26, 2014. 04:16 AM | Likes Like |Link to Comment
  • Turquiose Hill Resources beats by $0.01 [View news story]
    What debt? Didn't the funds collected during the stock issuance in December go to pay all the debt owed to Rio?

    Company said they were cash positive in March.

    May 14, 2014. 05:14 AM | Likes Like |Link to Comment
  • Mongolia Weekly Update [View instapost]
    Interesting article with the Golomt CEO.

    His confidence and dismissal of the recent news is not reassuring.

    http://bit.ly/1e8wdsd
    Feb 7, 2014. 03:25 AM | 1 Like Like |Link to Comment
  • Turquoise Hill Resources Management Discusses Q3 2013 Results - Earnings Call Transcript [View article]
    Mongolian government owns 34% of Oyu Tolgoi, the mine. Turquoise Hill (the Canadian company, formerly Ivanhoe) owns the other 66%. RIO owns 51% of Turquoise Hill. A bit convoluted, especially if you also factor in Entree Gold. Probably the reason Rio and their muppets in a TRQ management are destroying share holder value in TRQ. Without TRQ in the way Rio is free to take over more of the mine.

    The rights offering will have no impact on the % owned by government. It will only affect investors in Turquoise Hill.
    Nov 15, 2013. 02:12 PM | Likes Like |Link to Comment
  • Oyu Tolgoi ramps up production, but China import snag drags on [View news story]
    Be patient for what? So the SP can go down to $2.

    RIO and their puppets in TRQ have played this game well. Their going to get this company for a fraction of its worth. I wish I'd never invested in this P.O.S.
    Oct 16, 2013. 09:30 AM | Likes Like |Link to Comment
  • Rio Tinto And Turquoise Hill Hit By More Mongolian Demands [View article]
    Seems you may be on to something. As of July 5 It looks like RIO increased its stake in TRQ from the reported 51% to 55.53%, or an increase of 47.5 million shares. I imagine with the depressed price and upcoming maturity of the loan RIO may own or will own over 60%. (Source: shareholder information for TRQ on Morningstar)

    If a takeover happens what's the chances that minority shareholders get at least $10 per share (preferably more)?
    Aug 1, 2013. 07:04 AM | Likes Like |Link to Comment
  • Rio Tinto And Turquoise Hill Hit By More Mongolian Demands [View article]
    This is getting beyond absurd. Corrupt GOM politicians are more interested in taking a long holiday (Nadam) than sorting out their issues with their biggest investor. Good luck getting anyone else to invest in Mongolia.
    Jul 29, 2013. 05:00 PM | 1 Like Like |Link to Comment
  • Rio Tinto And Turquoise Hill Hit By More Mongolian Demands [View article]
    Frustrating part is that no progress seems to have been made between GOM and RIO. In February GOM said there were 15 issues of dispute and now it's 22. Some of these issues I agree need to be resolved, but do they really need to be voiced so publicly? Elections are over and GOM has already lost billions in investment, royalties and taxes, not to mention their tarnished reputation. It seems to be a very heavy cost for a country dependent on FDI.

    Many investors have already written Mongolia off. If the DP party doesn't provide concrete evidence of their willingness to work with investors soon then my fear is it could be a very long 3 to 4 years before the next parliamentary and presidential elections. I'm not sure who would ever risk their own capital with a government that can't keep its word and is incapable of reaching a compromise with its largest investor.

    I'm long TRQ and Aspire Mining (AKM).
    Jul 20, 2013. 11:06 AM | 2 Likes Like |Link to Comment
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