Bloomberg report from yesterday. There is definitely some gamesmanship going on between the parties.. WOOF.
Turquoise Hill Resources Ltd. (TRQ)’s tax dispute with Mongolia shouldn’t derail $4 billion of project financing to expand the Oyu Tolgoi copper mine part owned by Rio Tinto Group, a local director at the resource’s operator said.
“Don’t mix the political importance of the project with this tax audit issue,” Ganbold Davaadorj, a director for Oyu Tolgoi LLC, said yesterday by phone from Ulaanbaatar. The “tax authority report is one thing and importance of investment in the project is a completely different thing.”
The director, also chief executive officer of Erdenes Oyu Tolgoi LLC, the Mongolian state company with 34 percent of the project, said the feasibility study shouldn’t be delayed after the tax claims. “Investors should have provided the feasibility study two years ago but it was always delayed,” he said.
“If both sides have interest to move the project as quickly as possible, they could provide some general information earlier,” Ganbold said. “But we have zero information, that is the problem.”
marley- great posted excerpt. its simply gamesmanship but we dont know what each party to the impasse is ultimately wanting to obtain from the otherparty. clearly both sides are culpable for the impasse and retail s/h are suffering currently. it probably is a good time to add shares cause even these particular morons are not likely to walk away from this gigantic resource which yields $$ profits for decades to come.
probably the big players are not in the same type of "rush to resolution" as are we retail players. i have to readjust my timetable to become a long term holder on this spec play. thats how i see it. i predict some positive progress by end of mongolian parliamentary session. but thats just my gut thinking.