Not that anyone cares lol but things are still chugging along well for mongolia and coal.
coal spot prices have been steady and have even ticked up recently as there was some buying by china even in the face of their ample domestic supplies.
Imho this buying suggests we are near or have already reached bottom on coal prices and thus we are lookIng fantastic heading into summer season and then fall when utilities will stock up for winter.
sgq has been selling their premium coal for approximately 130$ usd at the ceke port according to sxcoal website which is a very good price
mongolia continues to sell more coal to china and is on pace to match or beat last year's record exports.
as for short term impetus, sgq will get the results anyday now on the tax audit. According to what we have heard from the company we can potentially expect 40m of that 75m penalty to be reduced and this will be a huge boost for the companies earnings and will help clean up the balance sheet.
finally, q1 earnings will be out soon as well and based on the import/export data and price info from sxcoal website, q1 earnings will be in line with q4.
looking fantastic for sgq, its a tough sell for investors and the lack of liquidity vs the hk listing will no doubt keep people away but imho sgq shares can still return another 50% from here easily assuming coal prices continue to increase and mongolia/sino relations continue moving forward like they have recently.
glta