RE:RE:RE:Follow the LeaderThe MPRP's take on follow the leader appears to be follow the leader to jail.
The Minister of Health and Secretary General of the party, an Enkhbayar stalwart, was arrested this week by the anti-corruption cops and is charged with taking a bribe ... This movie looks familiar, election looming, another deal to advance OT pending approval, that calls for some good old arresting of an MPRP leader.
Protests of innocence notwithstanding (although after watching the South Gobi charade I can't remember, in Mongolia are you presumed innocent or guilty before a so-called trial?), hard to get that picture of the former President wriggling in his stocking feet above the mosh pit of cops, bodyguards and other yokels when the standoff over his arrest nearly got out of hand. Thankfully no blood shed.
Mongolia is not alone - every country in the world has crooked politicians and scandals or accusations of scandal. It is the exquisitely uncomfortable timing of these events every time it looks like OT will clear another hurdle that is noteworthy. The financing must be very close, which means they might even sort out a definitive JV Agreement and IA with ETG.
That's right you bickering TRQ shareholders, did we all know that your 80% share of the JV ground has had stalled conversion of the Earn-in Agreement with no JV Agreement yet agreed and executed after the better part of seven years? Which coincides more or less with the end of new geological information from HNE, as well as the failure to have ETG covered in the IA.
The loans look doubtful if ETG isn't fully settled as to Mongolian ownership, an IA, and license ownership first - and hopefully an exploration budget for the JV ground and some control over the drill locations to ETG as well. Which will turn out well for TRQ too - the market has little idea of the potential for lots of value added out of expanded higher grade reserves at HNE and elsewhere on the JV ground. Logjams are being broken, finally.
cg