Conference Call
I was encouraged by the mention of the potential release of the feasability study on the conference call, I believe the mongolians are stalling on assumptins there as releasig the feasability will only continue to prove what sort of bad decisions they have made. Kay was obvioulsy very firm on the call from a political view as she stood pat on attempting to honor the september 30th timeline
From the tone of the call there is an obvious game of chicken going on between the mongolians and TRQ as it sounds like there has been very little progress on the issues (same issues that stood three months ago) and a continued reiteration that they are all talking and are aware of September 30th.
Financials currently being pulled look good and the current operation seems to prove TRQs commitment to operational excellence - I am encouraged that TRQ is doing everything in its power to run a clean operation above ground and will annuitize this project while waiting for the Mongolian government to get their act together and come to terms with their underground stipulations
30% of projected GDP and 40 years of production is not sometihng that should be taken lightly