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Re: None

Tuesday, 04/18/2017 12:59:40 PM

Tuesday, April 18, 2017 12:59:40 PM

Post# of 1138
Mongolian business confidence improving ...

http://www.worldeconomics.com/SMI/Mongolia-SalesManagersIndex.efp

Level is still slightly below the 50 level, which is the dividing line between growth or decline.

So YTD we have:

1. Mongolia receiving IMF bailout
2. Mongolian business confidence improving
3. Major coking coal supply shock, causing spot prices to spike in short term
4. MMC successfully completing post-bankruptcy restructuring (10% equity dilution, $150M+ haircut on existing debt)
5. MMC down 35%

I'm not sure that my MMC position can take any more good headline news.

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