For a good number of years, the Government of Mongolia has almost carelessly bombs indicating that it doesn't give a rat's a... about fairly sharing foreign explorers finds with them. (mass cancelations of tenements, blocking Chinese ownership, stopping the underground development at Oyu Tolgoi that will provide the majority of cash flow , a tax dispute with Oyu Tolgoi that has never been explained to the public, etc). This constant stream of anti-capital decisions has naturally led to risk money steering clear of the place, and that has marked down listed companies active in Mongolia. Are we seeing the beginning of a sea change that will make Mongolia attractive again?
Even if risk capital doesn't come back for a while, and it will take a lot more friendly signals from the GOM before that happens, it would be nice to think we can keep a fair share of whatever is uncovered at Kharmagtai.
XAM Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
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