I think I hear an echo. Everyone here is thinking rio is going to steal the show. Our beloved expert on this board, hn, has established factually that there is considerable value in Mongolia to be extracted. Rio has not exactly embraced kumbaya, and egi is where all of us have staked our claim, somewhere in the middle is ivn. If we believe in the mine, and it's assets, don't we have to spread our bets out between the three.
Makes sense but thinking in relative terms (%) EGI is the most interesting. Rio could double (triple) when Mongolia is a success - same for IVN. But EGI could zoom to the sky. Their small marketvalue (ca. 150 million) could become billions when the resources are mined and proven to be solid as a rock. Don't forget that EGI has almost NO operation costs. So, the moment money flows in 90% of it will be gross profit (some admin costs).
Apparently IVN has lost interest in EGI (they didn't buy extra shares). For them the EGI shares are dead money now. They focus on not being swallowed by RIO. I see no reason for them to hold the EGI shares (they need all the money in OT). Perhaps 17 million is not much, but still a lot of money when you need it (See how much effort EGI had to made for getting their $14 million fresh capital).
Would be nice if we hear something about the (EGI share holding) intentions of RIO & IVN. I think it is likely that RIO follows option 4 (doing nothing in the short term). So they probably will hold to their 25% share after swallowing IVN. This is not optimal for us small share-holders. It will be difficult for others to swallow EGI and it will be easy for RIO to take EGI over the moment they think it is time to do so. I would rather see RIO selling their above 10% shares to EGI (after/during a new share offering) - it would clear things up.
BTW. Total position IVN+RIO is closer to 25% than 24% (not that it really matters)