Jacksha Thought we were signing this document already, like most of us.....
The signs are all pointing in the right direction with the latest news release on the Power Plant Land Use Rights...engaging with the local people fully isw what has to happen...imho...in Mongolia......the nature of their culture......which is one of the problems of OT...especially with the discussion of the environmental issues with that mega mine...and that power plant was never to be part of any of the infrastructure near Chandgana...so it is of no concern...they needed one just for the two mines...OT and TT and the new "town" that is popping up....OT's real problem is going to be WATER for the mine and the people....they are in a the middle of a desert, literally, no mirage to be found. Back to PCY...obviously, it is in the governments hands to make a decision on the ppa and tarriff numbers, so we can move forward.
the weather is still cold and the Earth more than likely is not thawed yet to turn dirt, however, if we do not sign this document within a couple of days, let's give them until the 15th of April, we will miss out on this years construction schedule......and are in deep do-do...no revenue stream, will the Asian partner stay around, will the financial backers want to wait in the closet, what about the EPC? what about business expendatures from here to next year? what about damage control with investors? what about the black eye the Mongolians will have with foreign investors? more bad pr out of that country that is in need of some feel good news? JL, the Linklaters attorney writing the deal, and all employees have to be getting frustated with these officials......................
The company is currently
working with National Transmission Grid Company and the Energy Regulatory
Commission on finalizing PPA and Power Generation Tariff Application. Prophecy is
in active discussion to date on tariff and PPA.
about as frustrated as we are as shareholders....and as many other foreign investors are with the political wavering happening....but with the dates provided on changing the draft law on April 5th or soon after...it would be logical to consider this to be a great political posturing time for them to pat themselves on the back.....from all I read and study about the country...they NEED to make some positive moves in the public eye....Chandgana Power Plant approval would be just what the doctor ordered.