Baring Vostock, page-2

Here is a link to BV:
http://www.baring-vostok.com/company/
I believe the dispute involves $38 mil with a Russian Bank of which BV has a controlling interest.
https://www.ft.com/content/cbeb580c-3460-11e9-bd3a-8b2a211d90d5

It is interesting to note that natural resources only makes up 16% of BV's portfolio with Fund V ( owner of TIG shares) making almost half of the portfolio.
BV has a history of controlling its significant investments ( at present it controls 26% of those including the Russian Bank in question).
Its average hold period is 6 years.
IMO, this issue will be settled soon and ought not have any impact on TIG.

It would be great have a market update on mining, trucking and stockpile at the port which would be a good indicator for the upcoming shipping season rather than having to wait until the mandatory quarterly due late April (note the lack of announcements since last Sept )  

We had 200K ton at port on 31st Dec.
If we continue the 60K ton/month to September 30th with 2 weeks down in late April for thaw-out, we will have   710K ton available for sale for this shipping season. If we sell 650K ton of that at say $60/ton profit, this would yield $39 mil profit or $24 mil net after paying down the bank loan.

We should also hear soon about plans & timing for the port 1 mil + t/p/a upgrade. 

Fundamentally, $39 mil profit should give a SP of 21c @ a P/E of 10, IMO,( 39/1800 X 10) if Mr Market trusts TIG's business plan & management.