Origo Partners Share Discussion Threads

[graham1ty] 07/2/2013 08:13

The chart is awful........

[sportsauto] 06/2/2013 10:26

Mongolia Draft Mining Law Threatens Investment Climate -Business Group


By Alex MacDonald

LONDON--Proposed changes to Mongolia's mining law threaten to undermine the economic viability of its fledgling mining sector, with negative consequences for the entire economy and future investment in the country, business leaders and investors warned.

The legislation, which includes a requirement for existing miners to relinquish stakes in projects to indigenous groups, marks a departure from the free-market principles that have benefited the country since the 1990s, The Business Council of Mongolia, the country's largest business group, said in a four-page open letter to Mongolia's president last week.

[graham1ty] 04/2/2013 09:28

Why are we on the slide again ?

[zcaprd7] 01/2/2013 16:24

Some more buybacks needed...

[cerrito] 27/1/2013 12:08

Thanks Robard S for that good stuff

[robards] 23/1/2013 14:01

By the way that Gobi value is in dollars.

You can calculate the drop in NAV that such a writedown would entail, based on the figures in the last management statement, all else remaining the same. NAV would be about 33.5p per share at current dollar rates, from 35p at the time of the statement.

[robards] 23/1/2013 12:38

Cerrito,

This is what Baker Steel said at the beginning of this month about their holding in Gobi Coal:

"In considering the carrying value of each of the Company's investments at the year end, where there has been no significant corporate transaction during the year, amongst other factors the Company's Board takes into account how the prices of listed comparable companies have performed during the year. In July 2012, the Company decided to reduce its carrying value of Gobi by approximately 23% and at the year end has decided to reduce it by a further 20%. It is not considered that there is a permanent reduction in value of Gobi's projects, however the current poor trading conditions for Mongolian coal companies and the prices they are currently able to achieve for their product on the Chinese border has had a particular adverse impact on their market valuations. It should be noted that despite this 38% reduction in the Company's carrying value of Gobi during the year, the investment continues to be valued at almost double its acquisition cost in Sterling terms."


OPP also reduced their carrying value of Gobi Coal by 23% in their 2012 interims. If they were to reduce by a further 20% as Baker Steel did, the value of OPP's Gobi Coal would be about 53.5m from 66.9m.

[zcaprd7] 16/1/2013 20:07

Must be in the price by now though?

[cerrito] 15/1/2013 12:12

zcaaprd
Just checking into this as I have a few ords and zeros.
You are right to say that the China story should mean the price has gone up but the politics of Mongolia are keeping it down
see following articles

and


One suspects that they will need to write down their holding in Gobi Coal & Energy which comprises 33% of NAV and whose website is lacking in news.

[zcaprd7] 03/1/2013 14:31

China's manufacturing activity expanded in December for a third straight month, official data showed Tuesday, adding to signs the world's second largest economy is emerging from a prolonged downtrend.

[zcaprd7] 20/12/2012 13:17

I'm hoping the Japanese monetary loosening will have an effect - not sure how closely China and Japan are entwined economically?

[graham1ty] 06/12/2012 07:28

Only tiny number of shares, £16,000 worth. The chart, the background worldwide all seem to be wanting to push this lower......and abuying a few here and a few there is doing nothing other than soak up a few sellers and offer support.

A buyback should be more positive than that: it lifts asset value per share and should enhance shareholder value. Imaging the impact in the market of a new institutional buyer of $1.5m.....it would push the price up. However, this buyback is doing nothing more than stem the tide.

Overall, as it supports the price, and increases my NAV per share, I suppose I have to back it......but ain't gonna do much until sentiment changes overall.....

[zcaprd7] 05/12/2012 13:20

Another buyback and some positive news out of China today:

On a sector-specific basis, mining shares put on the best performance, taking a cue from comments from China's new leadership. The Communist Politburo said the economy is stabilizing, but that it would keep its accommodative stance in coming months.

[zcaprd7] 23/11/2012 09:53

More interesting chunky trades going through?

[zcaprd7] 21/11/2012 11:40

Seems to be a bottom, with share buyback support here..

[topvest] 15/11/2012 20:41

I think this is a dog of an investment company. Costs are far too high; run for the manager not shareholders. Think it was a very poor judgement by ECOFIN to invest in this.

[tenapen] 15/11/2012 19:53

I good mention in todays FT

If you go to the agta BB a poster there as posted the article.

----------------------
A highlight,

Cont...

In summary, absolutely terrible timing on a number of fronts. But if you think that sentiment will turn around before Origo burns down the remainder of its $25m cash pile, then the shares might be worth a look. I certainly do, because I find it hard to believe that most of the bad news isn't already in the price.

[graham1ty] 14/11/2012 07:57

They have bought back about £320,000 at 12.5p. They have authority to buy up to $1.5m worth.

Wish they would get on with it at the 12.5p-13p level and get this off its all time low.....the chart looks so horrible

[zcaprd7] 12/11/2012 20:00

Some positive noise coming out of China in the Telegraph today, new leader will want to impress etc...

[christianf12] 08/11/2012 15:57

This was ramped on the cr thread a couple months back, ouch.

[zcaprd7] 08/11/2012 10:20

And again today?

[zcaprd7] 06/11/2012 17:28

Hmm, interesting transaction?