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Assured Guaranty Ltd. Message Board

mdv_92126 7 posts  |  Last Activity: Sep 22, 2014 9:43 PM Member since: Aug 26, 2000
  • Reply to

    no cheers ---few more months to haggle

    by biosprofittter Sep 22, 2014 8:48 PM
    mdv_92126 mdv_92126 Sep 22, 2014 9:43 PM Flag

    I have to disagree this time. TRQ was holding up the feasibility study until there was a tax resolution -- they must've felt the compromise was sufficient enough ( even if not quite final) to release the feasibility report. They probably expect agreement on any issues and approval of the report by 30 Sep.
    Again, why is the Chairman of RIO going to Mongolia? Vacation destination?

    Sentiment: Strong Buy

  • Reply to

    Many News Outlets Report Deal

    by merigoldman Sep 16, 2014 3:46 PM
    mdv_92126 mdv_92126 Sep 17, 2014 2:11 PM Flag

    Totally agree. I also view the RIO Chairman's visit this month as a BIG deal. He has no reason to go to Mongolia unless it is for something important.
    Regardless, it has only been 48 hours since TRQ announced that they had received the Letter irt Tax. People should just chill.

    Sentiment: Strong Buy

  • Reply to

    invezz

    by tomstock64 Sep 15, 2014 10:18 AM
    mdv_92126 mdv_92126 Sep 15, 2014 10:26 AM Flag

    * Minister says tax bill cut from $130 mln to $30 mln
    * Oyu Tolgoi phase II construction to resume in Q1 2015
    * All disputes ended, feasibility study approval still
    needed

    (Adds detail, background, quotes)
    By Terrence Edwards
    ULAN BATOR, Sept 15 (Reuters) - A tax dispute that
    threatened to delay the giant Oyu Tolgoi copper mine being
    developed in Mongolia by Rio Tinto has been
    resolved, a government official said on Monday.
    The $6.5 billion Oyu Tolgoi project will produce more than
    300,000 tonnes of copper concentrate a year once construction is
    fully completed. It is expected to boost Mongolia's economy by a
    third by 2020.
    But the development has been embroiled in a series of
    disputes between its two owners, Rio Tinto-subsidiary Turquoise
    Hill Resources and the Mongolian government.
    Mongolia's vice-minister of mining, Oyun Erdenebulgan, told
    Reuters that the two sides have agreed to cut an outstanding tax
    bill on the project to $30 million. The authorities had
    delivered a $130 million bill in June.
    "I understand both parties are now working closely and
    effectively and nobody wants to delay because of this tax
    issue," he said, adding that the project would resume
    construction in the first quarter of 2015.
    Oyu Tolgoi, located in Mongolia's vast and remote southern
    Gobi region, is 66 percent owned by Torquoise Hill, with the
    Mongolian government holding the remaining 34 percent.
    The first open-pit phase of the project went into operation
    in July 2013, and the mine produced 76,700 tonnes of copper
    concentrate by the end of that year.
    However, the second phase, which involves the underground
    expansion of the mine, has been subject to a series of delays.
    The Mongolian government expressed concern about financing terms
    and cost overruns, and also ordered Turquoise Hill to draw up a
    new feasibility study.
    Oyun said all remaining disputes on the project h

  • mdv_92126 by mdv_92126 Sep 11, 2014 12:26 PM Flag

    IMO, This is a legitimate up move with legs. Confluence of perceived 30 Sep financing deadline and news of RIO Chairman visit makes an agreement seem within reach.
    Again, I don't believe TRQ would've signed that power agreement last month unless they expected to proceed with Ph II.

    Sentiment: Strong Buy

  • Reply to

    30 days until September 20th

    by navin_r_johnnson Aug 21, 2014 12:42 PM
    mdv_92126 mdv_92126 Aug 25, 2014 12:22 PM Flag

    I don't know when TRQ/Rio will reach resolution of all outstanding issues, however, the Tax bill by GOM was nothing more than a childish temper tantrum. The above process doesn't matter... It too will be resolved in the context of the bigger issues. People shouldn't dwell on the Tax bill.

  • Reply to

    2nd qtr financials and conference call

    by marleydog216 Aug 12, 2014 7:45 PM
    mdv_92126 mdv_92126 Aug 15, 2014 5:30 PM Flag

    But, they have to build the necessary infrastructure for the underground NOW. You don't wait for higher copper/gold prices to build, since it takes 2-3 years.
    They will restart ph II soon, IMO.

    Sentiment: Strong Buy

  • Positive step.

    Sentiment: Strong Buy

AGO
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