Replies to post #99 on Mongolian Mining Corp. (MOGLF)

[Ponch73]

I haven't seen or heard any specifics relating to the proposals from the working group. I'm just one man in a fog.

My source is someone who is reasonably well-connected in Mongolia, albeit not based there. I consider him to be "smart money" because his cost basis is less than half of mine (in other words, he's significantly in the money whereas I am underwater). His take (appropriately laced with profanity) was that the Mongolian negotiators would have had uncomfortably-limited vision given where their heads were currently located.

To be fair, I also heard from another source (based in Mongolia) that an institutional broker friend of a friend of his was out marketing with Shenhua, and they indicated to him that they were still interested in getting a deal done in Mongolia.

Pardon my ignorance, but how truly crucial is MMC's washing plant? Couldn't the Chinese source unwashed coal at a lower price, and wash it themselves on their own side of the border?