Long Time ETG Holder
As we wait for Rio Tinto, Mongolia and ETG to hash out the final ownership structure at Oyu Tolgoi (which I am convinced means Rio Tinto buys out ETG and negotiates directly with Mongolia about how to transfer the ETG JV and 100% adjoining ground into their joint operating company OTLLC), watch CU spot prices!
ETG is grievously undervalued by its implied market cap at current stock trading price. The company has not revised any of its NPV calculations in its very limited promotion - the occaissional Corporate Slide Show update, and its periodic continuous disclosure, still uses a $3.25 CU price, $1600 gold (?), or close to it.
Spot CU nipping at $5 and every reason for industry observers seeing treatment charges at Chinese refiners collapsing to conclude there is panic setting in about inadequate supply and rising global demands.
The copper situation is not front and centre in business news, yet. More attention and capital is going to flow into the sector and OT is one of the most valuable new assets coming into full production in the short term.
ETG - prospects for a significant upward trading reprice plus a further significant premium to market buyout offer - only improving.
Ya gotta luv it. BUY and HOLD HCU and ETG?
cg