RE:RE:Mongolians dependence on OT
And maybe to clarify because my prior post may be ambiguous about TD and Rio - I have no knowledge they did anything wrong or conspired in any unlawful way, I'm just curious about how the TRQ buyout and fairness opinion transpired.
My opinions characterizing what happened as unfair or exploitive are based on what has transpired since TRQ was bought out - the many contrary opinions to TD's about the direction and projections of the price of copper that existed at the time of the buyout offer (there will be a structural supply deficit, inflationary pressures etc.,. pushing CU prices up) have so far proven to be correct.
And TD's opinion at that time looks to be materially incorrect by their own recent revision of their CU price outlook. I can't say they did anything wrong back then except hold a questionable opinion which proved to be very helpful to Rio Tinto. Which I called sleazy, that might be unfair, maybe potentially sleazy in hindsight is fairer.
And the same for Rio Tinto, can there be any doubt given their and Mongolia's actions through the preceding many years of development at OT they assisted in the reduction of the market's perception of the value of OT, thus TRQ, and since the buyout it looks more and more as if TRQ was sold at a very low valuation? Wait and see what the numbers out of OT are in the coming years I guess.
cg