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Yeah...I misspoke. You can not add perpetual equity with the debt. I understand that it is debt......but it is the ship that never ports. It controls some(no consolidation of shares, no dividend..etc), but it is infinite.....and risky. That is why it is equity.
Are you saying that the EPS is poor? I may have misspoken, but I do not see that. You have a market that is not yet emerging connected to an emerging market. Given the circumstances(including past), I would say that such is very good. I get it...but think you are "over" engineering such.
Almost forgot:
"The basic and diluted earnings per share attributable to the equity shareholders of the Company amounted to USD0.29 cents for the six months ended 30 June 2018, compared to the basic and diluted earnings per share of USD3.25 cents for the six months ended 30 June 2017"
Of course...you need to throw out last years interim EPS due to the restructuring. But still......EPS is higher than current share price.
In case you missed it:
http://www.mmc.mn/uploads/e_00975ann-20180814.pdf
ASP @ USD146
On track to reach USD550 million this year minimal. I feel it will approach USD600 million though.
Total fail tonight. had to hold that .15 area.......and it did not.
No. It's the "rail" coming together compounded by other. Given though..the art' is some what on point and adds to such, but the overall market is in very rough shape. Profit will be taken in HK before this finally gets legit. Needs to stay around that HK.15 area..and so far looks good.
Very interesting.eom
I was surprised to see it :
http://hcgweb01.harfordcountymd.gov/Legislation/Zoning/ZoningDetail/5886
If healthy, it should stay around that .15HK mark.....then again..eh?
I don't know how HK plays shorting. I didn't see where 975 was shortable..and man...it's just too cheap to short. Just wondering how this plays out tonight. That was insane last night..eh?
Up a rough 20 points ..for now.....eh?
Hitting 5 points to the plus tonight. If it can at least close @ this with some volume...It will be at it's highest since the beginning of July. Just a technical point only.
Joppa is dead via Council....appeal needs placed by August 8th. Don' count on an appeal.
No....it's just that no one wants to buy......because of said index(plural). There is nil volume.
Blood bath...SSE/HSI....!
I saw the light in the beginning of July. Did not want to believe it....but had to:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141974997
I took some profit off the table in May/June on that upswing and then began to wash out around July 10th...on. I closed out on July 31 with a final trade. The last trade was a loss of a rough $600.00....
In total it was mainly a wash with minimal profit. I mean minimal..as in... not worth the time. So let's call it a loss...eh?
Will revisit before late August(report)...but only if the SSE/HSI shows improvement. But currently...I want this pup to fall....and expect to enter when appropriate.
p.s. If I hadn't of taken some money in May/June, I would be extremely pissed currently. Thank God I didn't have a ton of cash on the play...even though it should have been a correct move.
China/Hong Kong getting scary. Needs to pull up this week or say good bye......
http://www.aastocks.com/en/stocks/market/index/china-index.aspx
http://www.aastocks.com/en/stocks/market/index/hk-index.aspx
China(emerging) being weaker than Hong Kong(developed), but the correlation is there.
More great news for this Company and Mongolia coking coal exports. Unfortunately.........it wall fall on deaf ears given the negative Hk and China index perception(currently).
Southern Chinese ports prioritize thermal coal imports; coking coal buying slows
https://www.hellenicshippingnews.com/southern-chinese-ports-prioritize-thermal-coal-imports-coking-coal-buying-slows/
extracted:“We want to buy coal but there is no coking coal allocation for Xiamen and Kemen ports,” one Fujian-based steelmaker said.
When you refer to "perpetual equity"....I assume you are referring to the "perpetual notes". Currently, per last annual :
"The Company issued perpetual notes which were listed on the Singapore Exchange Securities Trading Limited on 4 May 2017, with principal amount of USD195,000,000 and with fair value of USD75,897,000.
The perpetual notes have no fixed maturity and are redeemable at the Company’s option. The distribution payments can be deferred at the discretion of the Company. So long as the perpetual notes are outstanding, the Company shall not declare or pay any dividend or make any distribution on or with respect to its capital shares; or redeem, reduce, cancel, buy-back or acquire for any consideration any of its capital shares.
Fair value of the perpetual notes was valued by the management with the reference to a valuation report
issued by an independent valuer based on the discounted cash flow method."
It's an equity though...;) The problem with it is that this Company can not consolidate it's shares(which it needs to).
oh..I gotcha'ya'.
Again....look at the indices:
http://www.aastocks.com/en/stocks/market/index/china-index.aspx
http://www.aastocks.com/en/stocks/market/index/hk-index.aspx
Start at the beginning of year, but focus on the beginning of June. Your answer is there.
The fiduciary duties carried weight at the "going dark phase". There is absolutely no affirmative fiduciary duty to maintain a market for the common stock after it went dark. It is still being traded though and the current CEO has even updated information twice via public statements. He did not have to do that. As such, I fully understand what "is".
And the past does matter....for to go forward....you have to clean up what was.
No...I am not. The Company is dark. For you to expect some sort of shareholder "rights" is not prudent. There is more of a mess here than you even know. Ask me about this idiot:
https://www.linkedin.com/in/melcarrolltotalasylem
The current CEO is the first individual this Company has had with any competence. I'm not faulting Brian, he is just a normal guy ... but if you want to look to the start of this(blind repair kit)....then you'll know.
How are you determining your valuation?
?(edit)Definitely not following you :
https://backend.otcmarkets.com/otcapi/company/sec-filings/12471766/content/html
He has absolutely no obligation to issue any form of news, be it information to any common shareholders. Even though that it the case, he still has provided two updates publicly. He should have just kept quite.
https://www.otcmarkets.com/stock/BRKK/news/story?e&id=1113841
https://www.otcmarkets.com/stock/BRKK/news/story?e&id=1118631
If you would like to provide what he must share...and.."by what means"... with the public via appropriate backing/foot noting...please do.
You have to go back 6 years to find similar numbers. They beat my bare minimal export numbers by almost 100 thousand. They had to export 1200 minimal..and I was worried they couldn't do it. That in itself is a very strong number, but they had that surplus form the first quarter. Their inventory management from "mined" to "sold" was exceptional!
YoY up 18% for Coking coal sold:
http://iis.aastocks.com/20180716/003202977-0.PDF
No...it's all about the China/HK indexes. Maybe some are choking because they wanted the consortium...but it's mainly fools rushing in as followers. It's a low volume stock that is played by middle income folks like most of HK and China based stocks..China especially. That scene is mainly propped up by middle class so called players/investors.
The so called "trade war"...which isn't ....has them spooked...and the timing of this Administration's play couldn't be better given the correction in January.
There is no "trade war"....but the media, yet once again, is being played....and they pass such on and become part of the play.
The Hang Seng Index, since open, has made up over 300 points(a full 1% plus) as I write this .
Looking like a ton of volume coming down on the HSI tonight... gap down climbing up.
Tavan Tolgoi Railway’ company established
2018-07-10 11:47:59
Ulaanbaatar /MONTSAME/ During the Cabinet’s regular meeting on July 9, it was decided to establish the Tavan Tolgoi Railway company with at least 51 percent of state ownership. The license and assets for the construction of the Tavantolgoi-Gashuunsukhait route railway will be transferred from the ‘Mongolian Railway’ to the newly established company.
The company has been granted a five-year license to build the trackbed for the railway in route Tavantolgoi-Gashuunsukhait. A certain amount of the capital required to continue the construction of the railway will be funded through the pre-sale of coal.
The relevant ministers were assigned to study entities, among foreign investors capable of making transit transportation and advance payments, for making investment to the company and to hold talks and introduce the results to the Cabinet within this year.
With the commission of the 267 km railway in route Tavantolgoi-Gashuunsukhait, it will be possible to export up to 30 million coal annually.
http://montsame.mn/en/read/15924
Market pricing a rough 7% gap up currently....not trusting it though... :)
As such:
IMF: Mongolia is making good progress under Fund-supported program
Central Asia | business | 12:35, 28 June 2018 | 276
AKIPRESS.COM - On June 27, the Executive Board of the International Monetary Fund (IMF) completed the fourth review of Mongolia’s performance under the program supported by a three-year extended arrangement under the Extended Fund Facility (EFF).
Completion of the review enables Mongolia to draw the equivalent of SDR 26.2088 million (about US$ 36.91 million), bringing total disbursements under the arrangement to SDR 131.0366 million (about US$ 184.55 million), IMF said.
Mongolia’s performance under the program remains strong. The combination of strong policy implementation and a supportive external environment has helped the authorities over-perform on all end-March 2018 quantitative targets under the program. Progress has also been made on structural reforms, albeit with some delays.
Mongolia’s three-year extended arrangement was approved on May 24, 2017, in an amount equivalent to SDR 314.5054 million, or about US$ 434.3 million1 at the time of approval of the arrangement. The government’s Economic Recovery Program, supported by the IMF, aims to stabilize the economy, reduce the fiscal deficit and debt, rebuild foreign exchange reserves, introduce measures to mitigate the boom-bust cycle and promote sustainable and inclusive growth.
Following the Executive Board’s discussion of the review, Mr. Tao Zhang, Acting Chair and Deputy Managing Director, said:
“Mongolia is making good progress under the Fund-supported program. Helped by a favorable external environment and strong program implementation, growth has picked up and there has been a considerable improvement in fiscal substantiality, debt dynamics, and external buffers.
“All end-March 2018 quantitative targets under the program were met. Fiscal accounts showed robust performance posting a primary surplus, mainly reflecting a sharp increase in revenue. Meanwhile, international reserves have more than doubled since the start of the program.
“Reforms to strengthen the financial sector are ongoing with a focus on the follow-up to the asset quality review completed in January. Banks are in the process of raising capital to address any identified shortfalls. In addition, the authorities passed a law outlining when and how public funds can be used to preserve banking sector stability.
“Notwithstanding this progress, Mongolia remains vulnerable to external and internal shocks. It is therefore critical to take advantage of the current favorable economic environment to continue building fiscal and foreign exchange buffers, strengthen the banking sector, and improve the investment climate. A steadfast implementation of the authorities’ reform program is key to build resilience against shocks and ensure continued strong and inclusive growth.”
Well with regards to this:
"Don't believe either IPO or rail will be delivered, but the fact it is being discussed in Parliament does offer hope...... "
I am going to adamantly disagree. Both will be delivered. They have absolutely no choice...especially with the rail. So when you say this..."The IPO cannot happen without firm rail plans"...I adamantly...agree!
I am not talking about the current coal outlook et al binding such. What does bind such is three simple capital letters:
IMF
That entire package is based on Mongolia tightening up their spending.......to put it in a nut shell..."maximizing utility". The rail plan is already there.....has been for quite a while and the ballast has been laid for the majority of such...been there for a rough four years. Just needs some "retooling".
But again..the big difference today vs. yesterday..is that IMF package. Go back and review such. It sheds some light.
I'll see that.....and raise you this:
Mongolia's industrial production grows 23.3pc in Jan-May
Published: June 28, 2018 16:34:05
https://www.thefinancialexpress.com.bd/economy/global/mongolias-industrial-production-grows-233pc-in-jan-may-1530182045
extracted: In particular, coal production of the East Asian country increased by 48 per cent, and the volume of iron ore production went up 12.6 per cent against the corresponding period of 2017.
If so/such.....look towards the end of September. Review the California Northern District Court..and play accordingly.
Some very interesting news:
https://www.reuters.com/article/column-russell-coal-china/column-chinas-first-half-coal-imports-surge-indonesia-the-winner-russell-idUSL4N1TS213
https://www.platts.com/latest-news/metals/singapore/woodmac-cuts-australias-met-coal-2018-export-27003291
http://www.sxcoal.com/news/4574088/info/en (yeah,sorry..ya' gotta pay)...headline works though..eh?
Scratch that....they may have figured it out. Will know by tomorrow night...eh? Think that current action may have ruined a cheaper buy.
So I just went back to some of my previous posts to garner percentages I am using...check this out:
Will that third gate equate to 20% more coal delivered(up to a third)...or not? Will the port restrictions have a desired effect? I could go on...and will so...later tonight.