Mongolian Mining Corp. (MOGLF)

[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...