hat nochmal was geschrieben. Falls es jemanden interessiert
Answers to the points from Geezer 21
Hi Geezer 21.
Please see my responses below:
1. I clicked on SpeedDemon's name and his articles/posts came out and I read them. I did the same for Geezer21 and read your posts on ORV, PCY, LGO, NKL. I didnt mean to say that I have been following SpeedDemon for a while. My apologies for my English.
2. Yes, I agree. Many people in my country are indeed racists. Not many of us studied abroad and even some of the ones who did, are still racist. China is the number one source of Foreign Investment (FDI) in my country. Many people have succesful businesses with Chinese businessmen here. But for some reason, a lot of my friends and contacts have very negative feelings toward's Mr. john Lee.
3. I checked further on this. Yes, the equipment is leased out. I found out which equipment and to whom it was leased out to. I was wrong, it wasnt an Iron-ore mining company, but a Gold mining company. The company name is Altan Dornod, run by Ganbold, very succesful businessman here. Some of the equipment was leased for 1 year (until 2014) and the other equipment for 2 years (2015). There are heavy fines and demobilizations costs if Prophecy breaks the contracts and calls the equipment back. But you are right.... I guess they can call it back.
4. I dont know about the pits. Sorry I cant give you any more information yet. What I meant to say is that it will take them many weeks to dewater the pit given the heavy rainfalls this year and I think Prophecy misled investors on the news release for the amount of coal being exported to Russia. I am sure 30,000 tonnes would be feasible given their stockpile inventory, but 300,000 tonnes is absurd and everyone here knows it. To me, misleading and manipulating news is tantamount to lying. Any Buddhist or Christian would agree.
5. Ok, there were some irregularities with my countrymen managing the company. But they did not rub off the government in the wrong way. They received all licenses and permits with the government in a fast manner and now the current management cannot get a PPA or a Construction License ( i will explain below) in more than a year. Yet my friends in NEWCOM were able to get the agreement signed for CHP5 in a matter of weeks. Obviously Prophecy is doing something wrong.
6. Prophecy Power Generation does NOT have a license to build powerplant. I just finished lunch with my friend and he explained it to me. Please see below:
a) Prophecy Coal had a subsidiary named East Energy (or something like that) b) East Energy applied for power plant construction license and was granted c) Prophecy decides to change East Energy to Prophecy Power Generation. d) the name and company is changed BUT the license is not transferred e) my country does not allow for mining or exploraion licenses to be transferred between subsidiray or sister companies. There was a lot of fraud occurring before. I assume the same must go for power plant licenses. f) Prophecy Power Generation needs to apply for new issuance of license and did so. g) PPG petition for license was REJECTED. h) There is new government people in power now responisble for issuance of lcenses and are not happy with current management (maybe John Lee?)
My question is if they receved a letter saying that their request for new power plant construction license had been rejected.... why did they not do a News Release?
*** Bonus.... My country is very small and I have a lot of high school and University friends that provide me access to a lot of information. I guarantee you that I probably can find out more about Prophecy in one day than other investors can with all the reading and News Releases out there. Besides.... the News Releases are almost always what the company's want you to read.
I can find out ( I already know) which mining equipment was leased out and at what price. I know the terms and the quantities. I also know if there is any movement in Selenge Aimag with regards to Prophecy's mine. And more importantly, I already told you that Prophecy has very bad re*****tion and rapport with my government and witht heir current strategy, they will get nothing done.
If things change and my friends tell me something different... then I will know when to buy. And it will probably be before most other people in Vancouver or elsewhere. http://www.stockhouse.com/companies/bullboard/...corp?postid=21722030
|