RE:Umm... Translation of recent corp update?? The ETG world is chattering about what it means.
The biggest statement appears to be that nothing happens until Mongolia approves. But what is there to approve?
We have the conceded position they will take 34% gratis. no more "no loss of economic value to ETG". All baked into price.
Assuming the deal is an ETG buyout by OTLLC fully financed by Rio Tinto at no cost to the Mongolian shareholders or OTLLC, could it be as petty and conniving as the Mongolians trying to extract a transaction fee for the licences falling in to OTLLC where they will be subject to the existing IA? Talk about looking a gift horse in the mouth. And no dice on that would be very reasonable for Rio Tinto and ETG. Mongolia you have your full 1/3 pound of flesh.
Would ETG come out with this NR without some confidence they have a deal negotiated that would fly with ETG shareholders? I think not - I read it as very positive on that score. As in HCU will endorse (and yes, that's just my deductive opinion).
The resolution is so obvious. The sell-down on the potential minor delay getting Mongolia to agree to such a great deal for them - don't ask me, I'm neither a buyer (way too overweighted already) nor a seller (are you kidding?!!), it's baffling as far as I'm concerned, but then I've been baffled by the suppressed price and valuation of ETG for years.
If a vote of three directors of OTLLC is all we are waiting for that sounds more like "vetting by Mongolia."
My vibe is positive. We'll see. Obviously some shareholders willing to take their money and run are of a different view. But the volumes are paltry so far.
I read this as "look, we have done all we can to bring about a resolution, now we are dealing with the intangibles that come with being in Mongolia, just hang on."
Explain why I'm wrong if you think otherwise.
cg