Mongolian Mining Corp. (MOGLF)

[OMOLIVES]

Thanks volmi! great news!

[OMOLIVES]

Any idea how they are allowed to consolidate(great news!) .. did the perp' holders agree(of course)...and wow!

[OMOLIVES]

Again...really superb performance!

[OMOLIVES]

?? ... I thought that the perpetual note stopped that from happening. That is why it tanked?...that is great news!!!

[volmi6]

http://iis.quamnet.com/media/IRAnnouncement/975/EN_US/003565288-0.PDF PROPOSED SHARE CONSOLIDATION AND PROPOSED CHANGE IN BOARD LOT
SIZE

[volmi6]

OPERATIONAL UPDATE FOR THE QUARTER ENDED 30 JUNE 2019

[volmi6]

http://iis.quamnet.com/media/IRAnnouncement/975/EN_US/003565020-0.PDF OPERATIONAL UPDATE
FOR THE QUARTER ENDED 30 JUNE 2019

[OMOLIVES]

Oh Mongolia....being land locked sucks..eh?

[OMOLIVES]

I'll be takn' this below one cent on the ADR. Not sure when..or how much below....but will.

[OMOLIVES]

I agree wholeheartedly.

[OMOLIVES]

Look at HK:975 tonight(eastern). More about it than just this Company...eh? Crazy!

[Hornby]

It feels like it is going to come down to that. We are not going to get any new financials until August sometime. The consortium would have been huge, but I suspect GOM politics/rivalries prevented that from happening. The RR, if it ever happens, is obviously years away, so this company is going to have to fly on its own and that means decent coal prices, good execution, and maybe a bit of help with the roads and border logistics. The only good thing is it is ridiculously cheap, and would probably be a three to five-bagger from here just by getting fair value for it's current metrics. Perhaps perspectives will change, but GOM is doing everything in its power to make sure that does not happen.

[mhsg]

i agree. it then has much greater flexibility. they don't want to pay up but lets hope they can buyback soon

[OMOLIVES]

When this Company can eliminate the perpetual note/equity....it can then consolidate and attract.

[OMOLIVES]

Was so tempted to buy the ADR today....I didn't though :).

[OMOLIVES]

I know. I think we are nearing a decade with just talk.

[mhsg]

neither rail or IPO is going to happen any time within the next 2 years minimum so no point in speculating. The politics are just too complicated however much it may make sense..

How can ETT realistically list with no audited accounts or feasibility study. Politicians can trumpet whatever they like but its not going to happen....

look at mmc announcements. they never reference rail as its not happening.

[OMOLIVES]

There's going to be a delay in the IPO of Erdenes Tavan Tolgoi.... which means yet anther delay in the railway. The IPO was the funding for such, and was to be completed within two years after the IPO. Should have just ran that Consortium.

[Hornby]

I honestly cannot believe how relentlessly this share is diving. It feels like no one want to buy anything that has anything to do with Mongolia at this point, but this is a profitable company and the trend should be slowly improving, with or without a railroad. They are supposedly improving some of the roads between the mine and the port of entry, and the Chinese are supposedly making the custom clearance more efficient, also. The main issue is how long the demand from China will sustain, but no one really knows that. I’m getting slaughtered by this share price, and it’s pretty depressing watching this thing sell off in a straight line this year based on what exactly? Not sure what it is going to take at this point to convince the market this company is worth investing in... not sure increasing profits will do it. Nothing less that the full payoff of their debts I suspect, because the GOM is clearly incapable of doing what they need to do to encourage FDI.

Oh well. Perhaps July will be an inflection point...

[OMOLIVES]

It's getting near to when I made my first play... almost three years ago. Maybe even lower...I'd have to check. Hong Kong is the only "true" free market in the world. It is being tested currently....

[mhsg]

Agree with you. last year over $200m ebitda and profit after tax north of $80m.

Would like to think this year will be better. Next key date mid july and production/sales update. Operations are sound, prices are robust, and underlying performance will be dictated by border crossing efficiencies/interference and politics.

[OMOLIVES]

Getting itchy again..been a long time.

[OMOLIVES]

Current share price of #975 to Coking Coal Futures price is an insane divergence.

[OMOLIVES]

The ADR is starting to look juicy. Patience lies within Hong Kong:

[OMOLIVES]

Wow.

[OMOLIVES]

I miss 2016....and I would love to put cash in this again. The futures proved many wrong given it's continued strength. It's so odd given the share pricing(and action) from late summer of 2016 to present day. If such action was based solely on the consortium...well.....I just don't know what to say. I think they are running around 70% capacity currently as well(from memory). Just crazy given the numbers and climate.

[mhsg]

(i) Sales up 55% in the quarter yoy.
(ii) Bond refinanced removing security package, and importantly $75m cash sweep. This will hopefully allow them to show better working capital management and balance sheet - without worrying about lenders getting the benefit.
(iii) Potential extraordinary gain relating to the bond refi and previous derivative accounting?
(iv) demand and prices healthy
(v) border logistics continue to improve = greater exports and sales

Result - share price does nothing!

[OMOLIVES]

Insane..and great....though it's like the market has the future downturn priced in...eh? When ever that is...of course.

[mhsg]

By Bloomberg News
(Bloomberg) -- China’s March imports of coking coal from
Mongolia +44% y/y to a record 3.26m tons, according to data from
General Administration of Customs.
* Imports from Australia +68% y/y to 2.23m tons
* Cargoes from Russia at 417,645 tons, more than double from
year ago

* NOTE: Increases are in line with +53% y/y in total inbound
shipments to 6.14m tons last month
** NOTE: China delayed customs clearance of some Australian coal
since January, leading to slump in February coking coal
shipments

[OMOLIVES]

That is good news...thanks for keeping up on it!

[volmi6]

http://iis.quamnet.com/media/IRAnnouncement/975/EN_US/003464576-0.PDF

[OMOLIVES]

Chart wise...coking coal futures look like a break out. News is mostly pitchn' negative in this space though. So it goes ..eh?

[volmi6]

http://iis.quamnet.com/media/IRAnnouncement/975/EN_US/003440326-0.PDF Has MONGOL MINING repaid its debt now?

[OMOLIVES]

Thanks for putting that forth. I have been a bit lazy here..;)

[volmi6]

http://iis.quamnet.com/media/IRAnnouncement/975/EN_US/003436302-0.PDF

[OMOLIVES]

Typical HK..glad I didn't play again.....will wait(of course).

[volmi6]

http://www3.hkexnews.hk/listedco/listconews/SEHK/2019/0318/LTN20190318059.pdf
http://www3.hkexnews.hk/listedco/listconews/SEHK/2019/0317/LTN20190317055.pdf

[OMOLIVES]

Were you somewhat surprised as I was? Especially EPS?

[OMOLIVES]

Looks like pre market gap happening....ten minutes to go...and I may be pissed I didn't enter for another play the other day.

[OMOLIVES]

And to be precise about such...that petition was placed to protect the restructuring agreement in this Country. The Company is not hindered by any Bankruptcy. They emerged from such. The only hindrance is through the perpetual note...and of course China and Mongolia..ha..! It is funny..but true.

[OMOLIVES]

NO...they are not. They came out of Bankruptcy almost two years ago. The OTC link is out of date by 8n years..I mean......way out of date. You need to refer to HK975....and follow that market.

[Homebrew]

Bankrupt: https://www.otcmarkets.com/stock/MOGLQ/disclosure

[OMOLIVES]

Earning per share almost tripled from first half(how about almost almost :))

[OMOLIVES]

Almost $600 Million in annual revenues for year.

[OMOLIVES]

New Financials out ... again...http://www3.hkexnews.hk/listedco/listconews/SEHK/2019/0317/LTN20190317047.pdf ... thanks again volmi6 for bringing it to everyone;'s attention

[volmi6]

http://www3.hkexnews.hk/listedco/listconews/SEHK/2019/0317/LTN20190317047.pdf

[OMOLIVES]

Look as though I was correct...no show currently.

[OMOLIVES]

I haven't played the ADR in a long while due to it being overpriced. Almost entered today...and hoping I didn't miss it for a swing. Up a rough 10 points last night via HK on relative decent volume....and was wondering if it gets crazy tonight. Should know in about half an hour pre mark'.

This is due for a big gainer again.

[OMOLIVES]

Yes..thank you. That is the second time I have done that.

[mhsg]

Just to confirm EPS for H1 were 0.29 of a cent/share (not 29c) versus ADR of +/-2c. So price to annualised earnings around 3:1.

Tomorrow is the board meeting in HK meaning annual results maybe out after their close and ahead of Monday trading.

Looking at quarterly production statements, sales in 2018 were up about 20% yoy (despite a weak end to year as China closed the border).

Pricing was stronger 1H 2018 v 1H 2017. Not sure 2H 2018 materially different from 2H 2017.

In theory, FY EPS should be up 20%+, but not clear on margins as they now report "coking coal" sales rather than "hard coking coal" sales i.e. some semi soft coking coal will be included.

I am sure cash generation will remain weak as makes no sense to have excess cash that would be subject to a sweep mechanism in favour of bondholders under their debt financing (and which followed the debt restructuring in 2017).