Re: No trades today on TSX very odd
Anybody who has followed this story knows that yesterday’s TRQ NR was a de-risk for ETG and positive.
But as previously noted the public market has been methodically poisoned.
There are way too many progressing stories in the juniors that have a proposition to sell to the market - we’re drilling usually in the summer, results by Fall. There is a block of barnacle shareholders such as yours truly and others who have chimed in or lurk around here who won’t sell into this discounted state. So no buyers, no sellers even on a bit of material news.
ETG? The upside is hidden and the story is “we are negotiating”. How long do you expect to be doing that? Dunno. How long have you been negotiating? Since 2006. What are the main issues? Shhhhh. Can’t say. Won’t say. Isn’t that key to your valuation and public market interest? Duh, is it?
Pardon the disrespect but what F’ing coalition of cretins does it take to negotiate for 14 years and get nowhere? Current price means nothing. Current disclosure is materially deficient.
This isn’t the Israeli-Palastinian dilemma. It is a mining project.
RioTinto is keyed on the valuation of the TRQ minority and stability with the Mongolian government. Our piece of the puzzle can’t frontrun those issues, it might be resolved as part of the same, but how do we get fair valuation without stoking a fire under both the Mongolians and the TRQ minority?
The proverbial is going to hit the fan eventually, but the Mongolians will go absolutely crazy watching TRQ taking distributions from OTLLC once Phase One Underground is rocking and they are stuck repaying their large borrowings in lieu of any capital contribution from day one - they haven’t put in a nickel to explore, acquire or develop. The power plant shows the wheels turning in their heads - they want cashflow that disappears into their tangled Mongolian web.
It will get resolved eventually, negotiate or litigate.
In the meantime, absent exploration results it would take a gallon of Adrenalin straight to the heart to get this patient up and dancing.