RE:Cash is KingRio seems to be desparate for cash fire selling TRQ's assets.
On Aug. 2 TRQ announced that .. "it has entered into an additional agreement with Sumeru Gold BV in connection with the sale of the Company's 50% interest in Altynalmas Gold Ltd (Altynalmas), which was originally announced on February 13, 2013. The supplemental agreement reflects a conditionally reduced cash consideration of US$235 million, instead of the original cash consideration of US$300 million. A key condition of the revised transaction structure requires Sumeru Gold to make an advance payment of US$235 million to the Company by August 9, 2013 ahead of completion of the transaction." The cost is a loss of $65 million so the proceeds go to pay off Rio's temporary bridging loan due.
Southgobi was around $18 when it was first listed on the Hong Kong exchange. After Mongolia vetoed the sale to Chalco it is trading for $1 and change. We'll see how Rio is going to trash SGQ.