Thursday, August 10, 2017

Mongolia Mining Corp. forecasts huge profit for six months to June 2017

Mongolia Mining Corp:

(snip)

The board of directors (the “Board”) of the Company wishes to inform the shareholders and potential investors of the Company that after a preliminary review of the Group’s unaudited consolidated management accounts for the six months ended 30 June 2017 and information currently available, the Group is expected to record a consolidated profit attributable to the equity shareholders of the Company of between approximately USD250 million and USD375 million for the six months ended 30 June 2017 as compared to USD61.7 million loss attributable to the equity shareholders of the Company over the same period in 2016. 

This is the kind of results we were hoping for when we got into this company earlier this year. The results have been helped by increased exports into China from Mongolia due to suspension of Chinese imports from North Korea.

The coking coal price has also been on the upswing which has also helped results.

Still think this can be a 10 bagger or more down the line.






3 comments:

Vik Murthy said...

Do you know how much of the $250-375M in profit was due to the extraordinary gain associated with the debt restructuring?

boubin2 said...

It looks like most of this number we will have to wait and take a look at the financials when they come out. I bought this for the potential of the TT deal. They are making money now due to recent higher coking coal prices. This is still good news in my view.

Vik Murthy said...

It's funny, but there are only three variables that matter with this stock:

1. HCC production
2. Chinese coking coal prices
3. Intestinal fortitude of MPP members of Parliament

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