Sending SAS squad for Witch hunting...I supportive"..Steppe Gold has been awarded ‘development of the year’ by Bloomberg Mongolia.." .... HA-HA-HA...Is what for? How much they paid for it? Rewarded themselves as Best developer of the year. How much costs this award?
https://resourceglobalnetwork.com/2021/12/22/canadas-steppe-gold-awarded-development-of-the-year-by-bloomberg-mongolia/ Where is TSX shareholder's RIGHT? MSE failed, DFS failed, $200M shelf prospectus started $90M loan from Mongolian Govt...almost everything collateralized. ... But they keeps saying $65M "financial package"...Look at Debt/Equity, 5 times more than its equity they borrowed. How they planning to repay that massive Govt. money, a taxpayer's money?
$65M good or bad? Mongolians side it's good, but for TSX side it's bad. Why? Because Mongolia still remains within poor investment climate countries.
https://www.state.gov/reports/2021-investment-climate-statements/mongolia/ "..Foreign investors describe three general categories of disputes eliciting interference. First, in disputes between private parties before judicial tribunals, investors warn that Mongolian private parties may exploit contacts in the government, the judiciary, law enforcement, the media, or the prosecutor’s office to coerce foreign private parties to accede to demands. Second, in disputes between investors and the Mongolian government directly, the government may claim a sovereign right to intervene in the business venture, often because the Mongolian government itself operates or seeks to operate a competing state-owned enterprise (SOE); because officials have undisclosed business interests; or from ignorance of the relevant statutes and regulations. Third are disputes with Mongolian tax officials or prosecutors levying highly inflated, statutorily deficient tax assessments against a foreign entity and demanding immediate payment on threat of civil or criminal prosecution.."
Now Govt. officials agreed there is something not right in investment climate. "...Despite this, we are currently faced with the necessity to improve the investment environment, issue legal guarantees and provide support for investors, and bring investment benefits to a new level. .."
https://www.montsame.mn/en/read/279328 From the latest publicly available mongolian news tells me that there is battle bewteen mongolian vs japanese shareholders for control portion over Khan bank. HAH...that's how Mongolians protecting FDI. Khanbank is the #2 ranked one of the biggest commercial bank of Mongolia. Battle between Japanese & Mongolian biggest group of companies, Sawada holdings & Tavanbogd group.
What if STGO will face same situation in the future? What will happen with TSX minority shareholders? Kicks off BDO is the SIGN. Let SAS team solve that issues? No idea what type of poison they composing in the darkness.