Some GOM may have overlookedtrying to play hardball with RIO on OT is one and the well known fact is that foreigners miners are not running anymore to UB, kind of stand-by across the board.
There is something ELSE GOM may overlooked: The exchange rate of MNT vs. USD!!!
Obviously it means that foreign reserves of Mongol Bank may not be increasing daily...:) may just the opposite!
The recent problems of Savings Bank further underline the liquidity weakness of the Mongolian banks.
[url=https://english.news.mn/content/151771.shtml]Mongolia to take over Savings Bank[/url]
Are all the other banks fine, liquidity wise???
Will all the Mongolian banks be fine in 3 months if Chinggis Bond II cannot be issued?
If GOM cannot clearly STATE that ALL its issues with RIO / TRQ on OT are settled, will foreign investors run to buy Chinggis Bond II ?
That may sounds like repeating old stories but the situation is steadily worsening as long as GOM does not want to face reality.
Anyway, the exchange rate MNT / USD speaks and may speak even louder in the coming months....making all imports of equipements and supply more expensive.
The good news is that cashmere products may be more attractive in international markets :) ...but that may not be enough to power iToys