Rio and Mongolia
Well, they are talking. Rio made public their negotiating position to tie-up the legal framework and ownership loose ends with Mongolia. They will come to some compact, there is really little alternative.
The market press has been played like a fiddle - one of the great triumphs of mining engineering and build-out of what will be one of the top handful of low cost copper/gold mines in the world is being referred to as “troubled”, a “fiasco” ... it’s ridiculous. So valuable, so big, it is a profit center for decadesbto come, and if we see an inflation-fueled commodity boom in the post-Covid global economy, it is going to Ben poised to make huge returns.
When miners have the goods, they always moan and whine. That’s when you know for sure they are buyers not sellers of their own equity.
At least that’s how I see it.
Dull dull market for ETG says “buy”. Personally I risk blowing out my transmission if I pile any more on top of my bloated position. Back to $1 and then giddy up SVP.
cg