RE:RE:RE:Turquoise Two Year Price Data...We Should Be Able to do Same
Hello Steven,
Turquoise Hill owns 60% of the OY Tolgo Mine in Mongolia (whose resources are greater than WRN's). Rio owns a majoirty of the shares in Turquoise Hill and would like to own more. It has much more "skin in the game" in Mongolia than in WRN.
The minority shareholders of Turquoise Hill are seeking the best price for their shares. Rio (as the majority owner of Turquoise Hill) wants to acquire this minority shareholding but at the lowest possible price. Rio has offered to buy out the Turquoise Hill minority shareholders at a price, which was far higher than the quoted market price of the shares, hence the recent substantial increase in share price. According to some minority shareholders Rio's offer still substantiallly undervalues the asset and they are holding out for a higher bid. They are probably correct but suffer from Rio's power as the controller and financier of the Company and their own diminshed power to effect what Rio plans to do.OTOH Rio would (I think) like to consolidate Turquoise Hill inot the Rio ownership and is seeking a quick solution which may open their wallet sooner rather than later.
I guess it is a mute point but I don't see much connection between the issues that WRN followers have and those that have interests in Mongolia.
SM