Could you comment on the recent decision of the Mongolian government to claim 34% ownership of the OT mine? At first it seems outrageously excessive & out of line with business practice. Of course times are changing & in the past western countries robbed developing nations blind. Russia took back ownership of its Siberian gas resources from western oil companies with majority ownership. The nearest comparison to OT is Grasberg in New Guinea owned by Freeport McMoran- OT with Entree & Hugo (?) extensions may even be bigger than Grasberg. I'm sure that a big percentaqge of Grasberg ownership is controlled by various central , local govt authorities & the Indonesian Army.
Did you get any feedback from Mongolian people, western geos or expats , that 34% was a fair amount? The new law took many years to pass & finally seemed to go thru without a whimper. Mind you, it's time that copper & gold producers got the same financial return as oil & gas states like Saudi & Russia.
I never made it to Mongolia- Nepal, Afghanistan the closest. I'm sure it will be a great mine with a corresponding share price something like that of Freeport Mcmoran today.
IVA Price at posting:
$3.58 Sentiment: Hold Disclosure: Held
