Diskussion zu Silver Elephant Mining Corp, ehemals Prophecy Development Corp. (Seite 2581)

[BLUE-OCEANS]

Zitat von platinbaron: Schönen guten Morgen !

Ich hatte heute Nacht erneut Kontakt zur IR, diesmal zu Matthew Emery, der wohl in nächster Zeit mehr für PCY zuständig ist. Chris Ackerman betreut zukünftig mehr NKL.

Auch Matthew bestätigte mir per e-mail, daß wir unmittelbar vor Unterzeichnung des PPA's stehen und dies eine Art Domino-Effekt auslösen wird. Sobald das PPA veröffentlicht wird, soll alles sehr schnell gehen und das könnte den Shareholdern bei diesen niedrigen Kursen zu Gute kommen. Es hängt alles am PPA und man wartet nur darauf loszulegen.

Mit Speck fängt man Mäuse, oder anders gesagt, so hält man Lemminge bei der Stange.

Ich weiss nicht, was dad Geschreibsel mit der IR bezwecken soll. Wenn russo`s Aussagen stimmen, und die Verhandlungen wirklich geheim sind, dann weiss die IR sicher nicht mehr als wir Kleinaktionäre.
Davon bin ich überzeugt!!

Zudem steht es ja klipp und klar in der Präsentation.

Termin Ende Januar oder Anfang Februar.
Man hätte auch sagen können, bis Q1 2013. Aber man hat sich wieder aus dem Fenster gelehnt.

Nochmals eine Nicht-Termineinhaltung wäre nochmals ein Grund, dem Management nicht zu trauen.

Eine Verzögerung hätte wohl ein Abverkauf des jüngsten kleinen Kursanstieg zur Folge.

Ich warte auf Anfang Februar, behalte den Kurs im Auge, und fertig ist.

Dazu benötige ich keine gut gemeinten Floskeln einer IR, die in den letzten zwei Jahren mehrheitlich falsch lag mit ihren Aussagen.

[berni40]

Antwort auf Beitrag Nr.: 44.052.860 von sebaldo am 23.01.13 10:43:08

Wenn das Ergebnis gut wird, so ist die Arbeit die Monate vorweg geleistet wurde als gut zubewerten. Ich gehe davon aus das bislang alle in der Vergangenheit ihr Bestes gegeben haben. Schnee von gestern kann jeder negativ beurteilen. Ich bewerte die Arbeit der gesamten Zeit als Gut.
Man sollte auch noch bedenkenie Mongolei ist ein schwieriger Verhandlungspartner. Es braucht seine Zeit!

Meine Hochachtung, wenn das Ergebnis Gut wird

[sebaldo]

Antwort auf Beitrag Nr.: 44.052.657 von berni40 am 23.01.13 10:04:06

und letzlich erwarten wir doch alle das PPA bald

Ja, so ist es. Aber auch dein gesunder Menschenverstand kann nicht ignorieren, dass JL uns nichts Neues mitgeteilt hat. Und die Beurteilung der Leistung in der Vergangenheit kann man erst fällen, wenn man das Ergebnis kennt.

Sagt mein gesunder Menschenverstand.

[berni40]

Antwort auf Beitrag Nr.: 44.051.636 von sebaldo am 22.01.13 22:39:23

Mein gesunder Menschenverstand,
erkennt die positive Richtung und letzlich erwarten wir doch alle das PPA bald. Die Leistung die in der zurückliegenden Zeit erbracht wurde, ist insgesamt gut.
(Nichts Neues, wie erwartet.) Das hätte ich nicht von dir erwartet!

[platinbaron]

Schönen guten Morgen !

Ich hatte heute Nacht erneut Kontakt zur IR, diesmal zu Matthew Emery, der wohl in nächster Zeit mehr für PCY zuständig ist. Chris Ackerman betreut zukünftig mehr NKL.

Auch Matthew bestätigte mir per e-mail, daß wir unmittelbar vor Unterzeichnung des PPA's stehen und dies eine Art Domino-Effekt auslösen wird. Sobald das PPA veröffentlicht wird, soll alles sehr schnell gehen und das könnte den Shareholdern bei diesen niedrigen Kursen zu Gute kommen. Es hängt alles am PPA und man wartet nur darauf loszulegen.

Bzgl. einer weiteren Finanzierung gab es bis dato keinerlei Gespräche !

Auch diese Mail leite ich per bm gerne an Interessierte weiter ! Kann aber nachmittags werden, bis ich dazu Zeit finde....

Wir befinden uns also auf der Zielgeraden, Durchhalten und Nerven behalten, heißt die Devise !

In diesem Sinne,

Gruß pb

[sebaldo]

Antwort auf Beitrag Nr.: 44.051.184 von bailey09 am 22.01.13 21:14:48

Nichts Neues, wie erwartet.

[bailey09]

Update von Lee ist da


Review & Update Letter From Prophecy Coal CEO and Chairman
download as a pdf file

Dear all,

I would like to first extend to you my best wishes for a happy and prosperous new year. Before sharing with you my outlook for 2013, I’d like to reflect on the development milestones of the proposed 600MW Chandgana Power Plant Project achieved in 2012:

Signed Cooperation Covenant with the Mongolian Energy Authority to supply electricity by 2016
Received final quotation from Equipment Procurement Construction (EPC) bidders
Prepared and submitted Power Purchase Agreement (PPA)
Submitted Electricity Generation Tariff Application (Tariff Application)
Published Preliminary Economic Assessment (PEA) study for the Chandgana Tal deposit
Signed Memorandum of Understanding with strategic partner to jointly develop the project
Strengthened team with new director, advisors and management

The project has experienced delays, understandably, as we are working towards a potentially very large power purchase contract (proposed annual revenue anticipated to be in excess of $100 million), entering
into an EPC contract anticipated to exceed $500 million, securing project financing, and developing the project with a proposed joint venture partner. Discussions with the Mongolian government, interrupted briefly due to the Mongolian summer election, have been positive. I have been in Mongolia since November working towards achieving the above-noted milestones.
Prophecy’s goals for 2013 include the following:

Reach consensus on tariff and finalize PPA
Award EPC Contract
Finalize strategic joint venture partner agreement
Commence construction of power plant
Complete project financing

Mongolia has not slowed down, as is clearly evidenced by the traffic and pollution. We are grateful that The Ministry of Energy has devoted resources to assist the Chandgana project to potentially start construction in 2013. With approved construction licenses for the power plant and the mine, we are working to become an advanced power development company. A great deal of professional man hours and capital resource has been invested. A very tangible and positive momentum has been building over the past months. I would like to thank our team, the Ministry and its various working group members, as well as our shareholders as Prophecy moves into this important new year.

With Best Regards,
John Lee, Chairman

Disclaimer: The letter contains a number of forward looking statements. The project requires significant capital and resources to develop and there are no assurances that the project construction will begin in 2013. For a full description of “Risk factors” of the company, please refer to the company’s Annual information form dated March 30, 2012 and filed on SEDAR at www.sedar.com.

[likeshares]

Bis Lee's Letter ankommt gibt es anderes wichtiges zu lesen, wie zum Beispiel von BP den Energie Outlook 2030.
Empfehlenwert besonders wegen der Aussagen zu Kohle, aber auch zu den anderen unwichtigeren Energieträgern! Allein das Bevölkerungswachstum (ca 8,6 Mrd) wird den Energiebedarf steigern, ...poppen für Thermal-Kohle?

http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_u…

[berni40]

Zitat von Alfa-Romeo: Bernie ist Dir langweilig ?

Ja es war, aber der Schnee ist beseitigt und die kleinen Kurs-Türme bei beiden Aktien werden wieder im Chart gezeigt.
Heute habe ich den guten Rat befolgt und einen strammen 14 km Spaziergang gemacht. Mein Puls war enorm gut
Hoffen wir das der Kurs auch bald enorn steigt.
Am Freitag möchte ich gern mal andere Türme sehen

[russo-touristo]

DRAFT MINERALS LAW DISCUSSION THE FIRST STEP IN RIGHT DIRECTION OF AN UNCERTAIN JOURNEY TO ADDRESS SIGNIFICANT “DISCONNECTS” BETWEEN MONGOLIA AND INVESTORS

January 22, 2013

Highlights of Events

The Office of the President of Mongolia hosted a discussion on the draft Minerals Law on January 18th, 2013. A draft of the proposed Law has been available on its website since December 7th, 2012 and the event was the first formal consultation with key stakeholders.
The President’s Chief of Staff, Head of draft Minerals Law Working Group Mr. P. Tsagaan chaired the discussion. Mr. Tsagaan provided the opening and closing addresses in front of an audience of an estimated 250 people, including a significant local media presence. Members of the Working Group responsible for the draft Law presented key items of the proposed 145 Articles. Attendees were then splits into four groups: Civil Society/NGO’s (30%); Mining Industry (30%); Academia (15%); and, State organizations representatives (15%), with the remaining 10% of attendees being the independent observes. Direct feedback and concerns from these groups was presented after which the floor was opened up to Q&A.

Mr. Tsagaan and the Working Group went to repeated efforts to emphasize that business and politics are separate when it comes to the draft Law and that they are looking to engage in an active consultation process to refine and improve the draft. It was reiterated that the proposed Law is not connected in any way to the June 2013 Presidential election. It was highlighted by many that the new Minerals Laws will only be second to Mongolia’s constitution in terms of importance to the economy and its people.
Timing of the implementation of the proposed Law would depend on the most appropriate and correct version of the Law (even if that takes years). It was widely acknowledged from many stakeholders that the current draft has significant areas of ‘uncertainty’ and key issues that would make it unworkable.

Following the event the President’s Office is welcoming feedback from stakeholders, particularly those in the mining industry and investors (in both cases both local and foreign), seeking constructive criticism and suggested improvements/revisions to the current draft.

Other notable developments during the previous week include:

i. Uncertainty reflected in Chinggis Bonds (refer to exhibit A) – Ahead of the President’s Office meeting with stakeholders the recently issued US$1.5b Sovereign Bond issue fell from 100.21 on January 7, 2013 to 97.95 as of January 22, 2013. The price move again highlights the importance of the draft Law, the markets significant risk aversion to uncertainty and an increasing awareness of, and reaction to, Mongolian developments in the international markets. Recent comments from Government officials are that Mongolia will look to issue more international debt in six to 12 months.
ii. Immediate future of TT in doubt – Erdenes Tavan Tolgoi (‘TT’) has halted exports to China after failing to pay a company that provides logistical support. Furthermore, TT is reportedly seeking a US$400-500m government loan to repay debt, fund working capital and build infrastructure. Current truck haulage operations are uneconomic with reported opex of $61/t relative to the current price of $53/t. It is believed TT is seeking to renegotiate the terms of its supply agreement with Chalco signed in July 2011, to increase the price and lower the volumes. TT’s financial position, the funding requirements and the current coal environment raises significant queries regarding the Mongolian Federal 2013 budget and any medium term potential for an Initial Public Offering. It is widely viewed that if TT was to be subject to the draft Minerals Law that its economic viability and ability to IPO would be further significantly negatively impacted.
iii. More funding needed for OT - Rio Tinto is said to be hosting a site visit to Oyu Tolgoi (‘OT’) in the last week of January for the various bankers and investors in connection with the anticipated project financing for the development of the underground operation. Commercial production from initial open pit operations remains on track for 2Q’13. According to OT estimates 80% of wealth generated from the mine will come from the yet unfunded underground operations in 2020.

Origo Partners View

§ While it was unrealistic that specific concerns regarding the proposed draft Minerals Law would be answered in such an initial public forum, the event was undoubtedly a first encouraging step forward in a much needed consultation, interaction and communication process.
§ The Office of the President went on public record stating its intent to actively seek consultation with the industry/stakeholders, that the draft Law is not motivated by the forthcoming election, and that there is no proposed timeline for finalization until concerns of all stakeholders are addressed.

§ However, we note a significant “disconnect” and misunderstanding between positions, beliefs and convictions of the taskforce and Mongolian authorities and that of the exploration/mining industry and investors. We stress that this “disconnect” not only pertains to draft Minerals law, but to a wider debate in Mongolia about what constitutes ‘fair business’ with foreign investors in general, be it Oyu Tolgoi Investment Agreement or Boroo Stability Agreement. Tax/audit and Law on Lawyers issues illustrate that “disconnect” is reaching epidemic proportions in key sectors fundamental to the growth of the free market and investment in Mongolia. Without understanding each other, it is of no surprise that investors and industry in Mongolia are feeling as if they are being attacked from many angles.
§ We are getting more convinced the draft Minerals law in the essence is the Investment Agreement between state of Mongolia and all mining and exploration investors ex-OT with all the ramifications thereof.
§ Both the taskforce and the industry now face a substantial challenge to connect this significant “disconnects” and bring closer the positions. In our view, the industry now faces an unknown, and most likely prolonged, period of uncertainty that the major weaknesses, and specific Articles of concern, of the draft Law can and will be addressed. This will continue to impact immediate exploration, development and investment activities.

§ We note that the proposed open consultative process will take great leadership from all stakeholders and there will be significant challenges facing both the process and ability to improve the current draft Law into workable framework for all stakeholders. However, we reiterate that the discussion is a first step in right direction in a long and uncertain journey.