RE: RE: Down another 4%"Your factual posts are valuable and appreciated"... oh really
1. IR isn't even responding to investor concerns... FACT
2. 70-80 cent range or basically what the iron ore asset is worth..FACT
3. IR will tell you the run-up to 1.77 was due to speculation of the first iron ore shipment ..FACT
4. so many new projects, like FCX's Climax Mine...FACT
5. one side (Hanlong) saying "the outlook of the project is better now" andthe other side (non-Hanlong directors) claiming poor economicconditions only a day earlier...FACT
6. IR will tell you their actions with regards to waiving Hanlong's financing delay penalties was done to protect the share price...FACT
7. to blame the financing delays on language barriers ...FACT
8. they underestimated the financing time-frame by some 400%!!! ( First Sept 30, then Jan 31- so they said it would be four more months from Sept 30, 2010 and now it's 15 months)...FACT
How is it that you can give your "opinions" and I can't? You said.....
1. and that you own less than 1% of the company, and that Hanlong and thebanks will do whatever the hell they please (because they can), wheneverthe hell they please...OPINION
2. leveling unfounded accusations at management and Hanlong is neither helpful nor productive...OPINION
3. The financing will happen when it happens, and all your bleating and hand-wringing will have been for naught....Opinion
4. regardless of what some yappy shareholder says on some public BB that they probably don't even know about...OPINION (I know the real answer to that unlike you! )
Just because I tell it like it is, you call me out?!? I know more about MOL than you think. Sorry if I'm not gonna blow sunshine up there a$$. Furthermore, I never said it was a Hanlong issue, in fact I believe it to be MOL's fault things are being held up. I mean they are asking for money and still don't have the EPC completed! That's like going to the bank to ask for money without having a business plan completed. I don't blame Hanlong. I BLAME the non-Hanlong directors. I mean after the GFC you think they would have had their ducks in a row the second time around knowing the window for opportunity is sometimes small. The copper/moly project should have been their focus. Heck I would have rather seen them spend their time and efforts in preparing the documents needed for the copper/moly project, over the start of the iron ore production!!! I mean lets face it. The iron ore wasn't going anywhere. The opportunity for the financing, on the other hand, may have now been lost. If this wasn't the case shareholders wouldn't now be waiting an extra 15 months. MOL dropped the ball plain and simple. Whether that's an opinion or not!!
Go back and read some of my other posts. There are as many good as bad. I am a realist. I bet if you could ask MOL IR about the January 18th PR, you'd be surprised at what they told you. GUESS WHAT? I DID!!!!!!!! I know the answer to that and many more questions, so while you may think my comments are "misguided acqusations, THINK AGAIN!!!!!!
Lastly, the recently extended deadline was somewhat insulting. On Sept 30, 2010 they thought only 4 months was needed to secure the financing and now they give them 11 extra months!? Do you really think MOL thought Hanlong was going to meet that Jan 31st dealine? If they did, you'd expect the extension to have only been a couple of months. NO? So either Hanlong wasn't even close to securing the financing, in which case MOL basically misled investors back in Sept when they granted them a 4 month extension knowing there was no chance it would be met, OR they now purposely granted them the 11 month extension knowing the financing will come sooner in an attempt to make themselves look like hero's and make investors forget their past shortcomings. In doing so MOL once misled investors by making them think the financing would take that long (i.e. the reason for the January 18th PR) while knowing it would come much sooner. My guess is sometimes this summer!
Ps- If you don't like what I have to say just ignore me. Don't worry you won't hurt my feelings.