Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
here's a bit..and upon review...........it's a big deal!!!!.:
China imported 22.4 million tonnes of anthracitic coal that can be used as an alternative to coking coal in the steelmaking process from North Korea, a nearly 15% rise from 2015.
.... and
Mongolia accounted for 23.6 million tonnes of total imports; a 85% jump which is creating a logistical nightmare for the landlocked country.
..... and
Australia is the number one supplier to China, which exported 26.8 million tonnes last year, a 4.8% increase year on year.
http://www.mining.com/north-korea-lights-fire-under-coking-coal-price/
That Chalco "cheap" coal deal ends in a couple of months so expect boom time in my opinion .... http://en.montsame.mn/mining/8407
We have the only washing plant available...already there at Tavan.....just need that rail way.....and most importantly...the Tavan Tolgoi deal to be announced(which will include the railway)!
Thank you North Korea...:)
UPDATE 2-Mongolia bonds rally as $5.5 bln bailout rewards tenacious investors
February 20, 2017, 09:31:00 AM EDT By Reuters
"I have been long Mongolia for a long time - this is very
good," said Shahzad Hasan, a portfolio manager for emerging
markets fixed income at Allianz Global Investors.
"This will invite foreign investment in the country,
especially in the mining sector, and it will improve confidence
of foreign investors in Mongolia, so it is all very positive and
very constructive."
Washing plant has been busy....:
Ganqimaodu Jan coal imports soar 185pct on yr
2017-02-10 09:35:00
Ganqimaodu border crossing in northern China's Inner Mongolia autonomous region imported 1.45 million tonnes of coal from neighboring Mongolia in January, soaring 185.04% year on year, said the local media.
Coal sales at the border crossing stood at 1.28 million tonnes in January, increasing 45.03% year on year.
The coal stockpiles at the border crossing were 1.29 million tonnes by end-January, a year-on-year decrease of 47.33%.
With Mongolian washed coking coal traded at the border crossing has been stable at some 1,000 yuan/t since January, as much as 37 enterprises were engaged in coal import business at the border crossing.
Ganqimaodu borders resourceful Mongolia, whose Tavan Tolgoi coal mine has coal reserves of 6.4 billion tonnes, with primary coking coal at 1.8 billion tonnes and thermal coal at 4.6 million tonnes. The border crossing has been an important hub of coal trades between the two countries since its opening in 2009.
ref: http://www.sxcoal.com/news/4552143/info/en
CEO of Energy Resources delves into debt restructuring and the coal market
http://theubpost.mn/2017/01/26/ceo-of-energy-resources-delves-into-debt-restructuring-and-the-coal-market/
Well...start with today's news:
http://iis.aastocks.com/20170119/002710092-0.PDF
Pursuant to the terms of the Lenders RSA, if, by 4:00 p.m. (New York time) on 20 January 2017 (or such later date as may be agreed), the Noteholders who had entered into or acceded to the Noteholder RSA do not hold supporting Notes (the “
Supporting Notes”) constituting an aggregate of 50% or more of the principal amount of the Notes, the Lenders RSA may be terminated with respect to a Lender’s obligations thereunder by such Lender.
After reconciling and verifying the holding positions of the Noteholders who have acceded to the Noteholder RSA on or before 13 January 2017, the Company is pleased to announce that, holders of Supporting Notes which in aggregate constitute approximately 94.1% of the principal amount of the Notes have entered into the Noteholder RSA on or before 13 January 2017.
So...now the RSA is confirmed! I wouldn't call this a catalyst as much as a major closure though. But others may....we'll see tonight.
The major catalyst will be Tavan Tolgoi. I think many are still thinking the past may come back to haunt them and it will fall through (for the third time). The sideways pattern has had ups and downs which is just trading. I think that it has been somewhat frustrating ...but...that's how it goes
Sorry for not getting back sooner........new laptop.....and had to create a new login.
Yes...but all shares owned and to be issued(to note holders and lenders) are ordinary shares. There are no preffered.
Hey...I don't want you to take what I said in the wrong way. There will be plenty of exits and entries here...........just that you should not walk away completely..as in...to protect your average after bank.
Very few times ..if ever...will you have the opportunity to invest in something that a Nation is dependent on(mining/Tavan Tolgoi).
Don't forget that...eh? :)
I always called it a Merrill pattern...but yeah.
MOGLF watch Hong Kong tonight!.....:
http://www.hkexnews.hk/listedco/listconews/sehk/2016/1222/LTN20161222013.pdf ...just came across not twenty minutes ago!
!!!!!!!!!!!! BIG NEWS JUST IN !!!!!!!!!!! not even 20 minutes old
The Company is pleased to announce that on 21 December 2016 (Cayman Islands time), the Cayman Court made an order approving each of the RSAs and authorising the JPLs to take all steps required to bring the RSAs into effect. The Company is pleased to confirm that all conditions to the effectiveness of the RSAs have now been satisfied and, accordingly, all provisions of the RSAs have become effective in accordance with their terms.
http://www.hkexnews.hk/listedco/listconews/sehk/2016/1222/LTN20161222013.pdf
??? Where did you see that? That would be an insane exit point. This is a minimal two year play. Adjust throughout.....but look at the twenty cent range in the near term for a fat adjustment point.
I think you misread that. Look at this chart:
Refer to the 11-26-2014 ex date--3 for 2
Given that ex date....first major fat exit target is around .50 cents. You could very well see USD 1 though and higher.
note*
In October of 2010 it did an IPO at HK$7.02
Coking coal prices are at a five year high
2012 Coking coal price relative to pre dividend and share price
Tavan Tolgoi was not part of the equation then...it is now!
My point is that you never want to completely walk away fro this...adjust to your benefit through out.....but do not walk away.
This is what I read regarding said blogger though:
A little high....but maybe not. Mongolia is another Vietnam...only bigger in my opinion...given the value play and early start here.
!! The RSA Sanction Application and the Petition have presently been listed to be heard before the
Cayman Court at 10:00 a.m. on 21 December 2016 (Cayman Islands time)
.... this is it!...after such.... TAVAN TOLGOI!
!restructuring agreement!!!!!!!:
http://www.mmc.mn/upload/2016-12-21_e_00975ann-20161221.pdf
!!!moglf ..big confirmation today regarding TAVAN TOLGOI
The board of directors of the Company (the “Board”) wishes to announce that on 15 December 2016, the Consortium received an official letter from the working group established by the GoM,formed after election held in June 2016, for the purpose of continuing negotiations in relation to the Tavan Tolgoi project.
The Consortium has been informed to continue participating in discussions with the working group representing the GoM regarding the terms and conditions of an investment and cooperation agreement and such other ancillary agreements in relation to the Tavan Tolgoi project.
http://www.mmc.mn/upload/2016-12-15_e_00975ann-20161215.pdf
Tried to get it to you all earlier.....the site here was down though.....sorry
!!! Big news confirmation today!!..:
http://www.mmc.mn/upload/2016-12-15_e_00975ann-20161215.pdf
Timing is everything...:) eom
!China slaps new fees on Mongolian exporters amid Dalai Lama row
Thu Dec 1, 2016 | 3:44am EST
extracted; "The crossing at Gashuun Sukhait is used to export copper from the giant Oyu Tolgoi mine run by Rio Tinto, as well as coal from the Tavan Tolgoi mine, which China's state-owned Shenhua Group is currently in the running to develop.
The crossing in the Chinese region of Inner Mongolia would charge vehicles a transit fee of 10 yuan ($1.45) each time they pass through the border, and would also impose an additional charge of 8 yuan per tonne for any goods they are delivering, according to a notice issued by local authorities and published by the Mongolian Mining Journal on Wednesday.
For precious metals and copper concentrate worth more than 10,000 yuan per tonne, exporters would be charged 0.2 percent of the total value of the cargo, the notice said, adding that the new charges would come into effect on Dec 1.
Dale Choi, an independent mining analyst in Ulaanbaatar, said 900 trucks pass through Gashuun Sukhait every day, adding that around 133,000 tonnes of copper concentrate is delivered into China every month via the crossing. "
ref; http://www.reuters.com/article/us-china-mongolia-idUSKBN13Q3I7
Understand:
http://www.mmc.mn/projects-transportation.html
Be patient for the opportunity:
I think these two bits put it into a better perspective. And why I am hoping for a very nice buying opportunity... be it a gift:
China freezes bilateral diplomacy with Mongolia over Dalai Lama visit – The Diplomat
China’s retaliation for the visit has so far not gone beyond a freeze on diplomatic talks. China protested previous visits by the Dalai Lama by briefly closing its border in 2002 and temporarily canceling flights from Beijing in 2006.
For Mongolia, a freeze in diplomatic ties with one of its two large neighbors – the other being Russia – could prove economically damaging in the short-term.
http://akipress.com/news:585782/
This was an opinion just a week earlier:
Dalai Lama visit may chill Sino-Mongolian ties but business will go on: expert
Geng Shuang, a spokesman for Chinese foreign ministry, told a press conference on Friday that China "strongly urge the Mongolian side to bear in mind the overall interests of a sound and stable bilateral relationship, honor its commitment on Tibet-related issues, not to allow the Dalai Lama to visit Mongolia and not to provide any convenience or support for the Dalai clique."
However, Da also noted that bilateral cooperation between China and Mongolia would continue, including the loan and the construction of a China-Mongolia-Russia economic corridor, the first multilateral trade cooperation mechanism under the Belt and Road initiative.
"China is unlikely to take economic sanctions as the country needs to maintain sound ties with Mongolia, which holds a good relationship with the US, North Korea and Japan, playing an important role in the Northeast Asia," Da said.
http://www.globaltimes.cn/content/1019135.shtml
No.......it's bad short term. All that is needed for the debt settlement is completed paperwork and a sign off. The dali visit screwed things up....for the other situations.
First...cash loans via China to support the railway
Second....how this effects the Shenhua relationship with Tavan Tolgoi(consortium)
The IMF loan looks good though....but in the mean time look for downward pressure and a major buying opportunity. I was hesitating on Friday given Thursday nights action. Last night was a confirm to me.... so today I clipped.
I'm pissed and excited at the same time. China acts like a bunch of 8 year olds' when it comes to the Dali Lama. It's temporary...but when things should be ready to explode....we are going to see the opposite.... It was an easy sit and wait...but now it's an anxious one with some uncertainty as to "how long".
I am looking for an early .028 target...and lower with the ADR price....and expecting HK to breach below that .22 mark. But that could change quickly if Mongolia and China repair things fast. Anxious to see what tonight brings! it will become a great buying opportunity...hoping that is!!!
p.s....the next court date is this coming Monday..ha! That's the irony of it all...
!China Cancels Mongolia Talks Indefinitely After Dalai Lama Visit
China postponed bilateral meetings with Mongolia indefinitely after its North Asian neighbor allowed a four-day visit by Tibet’s spiritual leader, the Dalai Lama.
The two sets of talks originally scheduled for next week were seen as crucial for Mongolia to access badly-needed Chinese loans and development projects.
“The meeting was intended for negotiations on soft loans and the projects on Tavan Tolgoi railroad, a copper plant and coal gasification project. Unfortunately, the Chinese side responded that this visit was unacceptable,’’ Munkh-Orgil Tsend, Mongolia’s foreign minister told reporters in Ulaanbaatar on Thursday.
https://www.bloomberg.com/news/articles/2016-11-25/china-cancels-mongolia-talks-indefinitely-after-dalai-lama-visit
What should be the final court date is set for Dec 5th:
http://iis.aastocks.com/20161120/002667239-0.PDF
Given that the Company is in the process of preparing and/or finalizing all legal documentation
with the Steering Committee, the Lenders and QGX in order to effect the Debt Restructuring, it
was agreed between the Company, the JPLs, the Steering Committee, the Lenders and certain other
creditors that the hearing of the Petition be further adjourned. The Company on 18 November 2016
(Cayman time) received a Consent Order issued by the Cayman Court dated 17 November 2016
adjourning the hearing of the Petition to the first available date after 5 December 2016.
Cayman court date tomorrow.eom
!Great current write up:
How Booming Coal Is Reigniting Mongolian Growth
Asia Nov 15th, 2016
https://fronteranews.com/news/asia/booming-coal-reigniting-mongolian-growth/
!Developing!...:
Development of Tavan Tolgoi includes the construction of a 240-kilometer long railway from the mine site to the Chinese border, as well as coal-handling preparation plant, plus power and water supply facilities. The government is planning talks this month with China Shenhua Energy Co., part of a consortium of companies tapped to develop the mine, according to Ganbat Dangaa, the roads and transport minister.
The talks have been delayed for more than a year after the previous government failed to win backing from Parliament for a deal with the consortium. If talks fail again, the government will “have to invite another bidder for the project,’’ said Munkh-Orgil.
http://www.bloomberg.com/news/articles/2016-11-14/mongolia-will-walk-the-walk-to-revive-economy-in-crisis
That relates to this:
China's Shenhua signs first coal trade deal with Mongolia
Sun Apr 19, 2015 7:11am GMT
BEIJING, April 19 (Reuters) - China's biggest coal producer, the Shenhua Group, has signed a deal to buy 1.2 million tonnes of high-grade coking coal from Mongolia, a move that could help pave the way for the state-owned firm to invest in one of Mongolia's biggest mines.
China's State-Owned Assets Supervision and Administration Commission (SASAC) said in a notice posted late on Friday that the transaction signed by Shenhua's foreign business arm and Mongolia's Energy Resources LLC was the first such deal between the two sides and would "build good foundations for future cooperation in trade and other activities".
Neither Shenhua nor Energy Resources, a subsidiary of the Hong Kong-listed Mongolia Mining Corporation, were available to comment when contacted on Sunday.
Along with Energy Resources and Japan's Sumitomo Corporation , Shenhua is part of a consortium expected to take over operations at the massive Tavan Tolgoi coking coal mine, close to Mongolia's southern border with China.
Desperate to rejuvenate its flagging economy, the Mongolian government agreed to hand over the construction and operation of Tavan Tolgoi to the consortium earlier this year, but the deal still needs to be ratified by parliament.
http://af.reuters.com/article/energyOilNews/idAFL4N0XG05V20150419
Becoming very interesting in Hong Kong tonight. Waiting for that break out ... and nil volume as I wait.....but may just reverse currently. So it goes....
Great to know...because it is about to explode!!!!.....follow currently given news today....:
http://www.aastocks.com/en/LTP/RTChart.aspx?symbol=00975
News broke out ...and we got it here on the ADR side of things before Hong Kong(while they slept). And it is beautiful!!!!
!!!!! 20 minutes into pre-market trading via Hong Kong....gap' up 9% as of 9:20!!!!!!!!
!! Big news hit just a couple of hours ago....term sheet approved! Was shocked to see it in "eastern" time....so looking like it is completely under the radar!!!
"The Company is pleased to announce that the Steering Committee, the Lenders and QGX have provided their support for the key commercial terms of the updated Debt Restructuring proposal attached hereto as Annex A (the “
Updated Debt Restructuring Proposal”). The Updated Debt
Restructuring Proposal contemplates the Noteholders, the Lenders and QGX accepting the proposed consideration (as detailed below, the “Proposed Consideration”) in full satisfaction of the outstanding principal amount and the interest accrued but unpaid under their respective
indebtedness. The Proposed Consideration comprises of: (i) the First Ranking Senior Secured Facility, (ii) the New Senior Secured Notes, (iii) the Perpetual Notes, and (iv) the New Shares"
http://www.mmc.mn/upload/2016-11-03_e_00975ann-20161103.pdf
!!what you need to know:
Income and assets of Mongolia’s richest politicians
By Dulguun Bayarsaikhan -
October 29, 2016
http://theubpost.mn/2016/10/29/income-and-assets-of-mongolias-richest-politicians/
Then review here:
http://www.mmc.mn/about-company-board.html
Please take your time......and yes....the wealthiest politicians in Mongolia are invested with this Company and MCS Group et al...this Company's CEO and Chairman's other Company
Lunchtime in Hong Kong........up 6%....so you know(FYI) .. https://www.hkex.com.hk/eng/market/sec_tradinfo/tradcal/tradcal_1.htm
(edit)keep your eyes on Mongolia.....and MOGLF.eom
p.s...sorry.....I just realized this is a "junior" miner forum....again,......sorry.
Eyes on HK tonight...around a rough plus 10% ... currently...early though.
!!Just in 8:18 10-28 via Asia;
http://iis.aastocks.com/20161028/002647818-0.PDF
Boom!...looks like just a little over two weeks until all clear!
Sure...and thanks.....this is the highlight from the JPL dated the 12th of this month:
In the JPLs’ view, these discussions have been highly constructive and consequently, on 8 October 2016, the JPLs issued
a further revised termsheet to these principal parties, which reflected these negotiations. The JPLs have requested the Bank Lenders and Noteholders’ feedback (if any) on this revised termsheet by 12 October 2016, following which, if the parties are in agreement,the JPLs proposed to formally release the revised termsheet and commence the process of seeking the Grand Court’s consent to propose a Scheme of Arrangement on a consensual basis. In addition, the JPLs have been in the process of preparing a restructuring support agreement in the event that the termsheet is agreed by all parties.
!!Huge jump one hour in....up almost 16%...with good volume!!!!!
Court hearing tomorrow in the Caymans.....
Second JPL here(oct 12th) .. http://www.mongolianmining.ky/downloads/MMC-JPLs-Second-Report.pdf
:)
Buy tomorrow!!!.....capitulation in the Asian market!!!!!!!!!!
Honk Kong closed due to typhoon......tomorrow is a free day of trading here...given the fact that there will be no weekend close out.
Enjoy!!!!!!!!!!! the extra day.