Thursday, February 18, 2016
Mongolia Growth Group announces normal course issuer bid
Mongolia Growth Group announced today that TSX Venture Exchange (the “Exchange”) has accepted a Notice of Intention to make a normal course issuer bid (the “Bid”) to purchase up to 2,950,000 common shares (representing up to approximately 8.3 % of the 35,512,829 common shares of the Company currently issued and outstanding, or approximately 9.9% of the 29,825,579 common shares constituting the Company’s current Public Float (as that term is defined in the policies of the Exchange)) from time to time during the next 12 months.
The company is extremely undervalued on a net asset value. Not only that but the company shares are a long term option on the over one trillion dollars in mineral wealth that will eventually come out of the ground. The CEO, Harris Kupperman, is the largest shareholder and now that the company is nearly if not already cash flow positive why not invest in the cheapest real estate in Mongolia which are its own undervalued shares.