Mongolian Mining Corp. (MOGLF)

[Ponch73]

I think the big issue here, despite the headline HCC sales figures, is that MMC has never in its history demonstrated an ability to convert HCC sales into free cash flow for the benefit of minority shareholders (since its greedy majority shareholder skims off the top) in terms of paying down debt, buying back stock, issuing dividends or simply accruing cash on the balance sheet.

Folks will point to EBITDA, but that is a flawed and lazy metric because it doesn't account for working capital effects.

Given that there is a big slug of MCC debt coming due in a few years, one can somewhat understand the market's skittishness. Now add to that bad fundamentals in the form of huge buyer power (China), inefficient transportation, a bad management team and a corrupt, jingoistic and stupid government of Trump-esque proportions, and there you have it.