Become a Member

written by reader Mongolia Growth Group – YAK

By Anonymous Questions, December 15, 2014

I would value your opinion on the situation at Mongolia Growth Group -YAK- with respect to todays news releases. 2 days ago I mailes the company expressing my concern about the share price. Got a nice”rosy” reply saying they were doing well. Now he’s fired.What concerns me is that those people hold a lot of stock, which could mean big selling. Could you please write something?
Thank You

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

guest

12345

This site uses Akismet to reduce spam. Learn how your comment data is processed.

4 Comments
Inline Feedbacks
View all comments
👍 21718
lbgmd181
lbgmd181
December 17, 2014 1:29 pm

Dear Travis
Thank you for your thoughtful comments. I am long MNGGF (way). I too was surprised and dismayed about the recent email detailing changes in CEO/board of directors. I am still deciding what to do. I think the argument can be made that when Harris ran the company, he bought whatever he could because he didn’t have a really clear vision of what the company should look like. He is after all a hedge fund operator not a real estate developer. Paul Byrne who is an accomplished developer presumably set up a company strategy for the next couple of years that Harris and company can follow at lower costs. I suspect that the stock is “dead money” for next 1-2 years but still wonder about the longer term future.

Add a Topic
409
Add a Topic
5971
👍 40
Travis Johnson, Stock Gumshoe
December 17, 2014 2:49 pm
Reply to  lbgmd181

Me, too. Just don’t have any idea what the “floor” might be when they’re effectively saying they’re in survival mode to cut cash burn.

👍 21718
Jason_80
Member
Jason_80
July 7, 2015 8:24 pm

Does anyone really study the economic situation in Mongolia? Another “empty” newsletter from the chairman with cryptic and deceptive data. When will they stop providing figures in local currency? We all invested in Canadian and American Dollars (OTC). Tell us the truth about the operating performance in Dollars. All dividends will be distributed in dollars anyway. I prefer to use American dollars since they have been less volatile and provide better base.
“Total billed revenue for May 2015 was 262.7 million Mongolian Togrog, as compared to 257.0 million Mongolian Togrog in May of 2014 ”
Now lets compare this performance is dollars based on their corresponding currency exchanges USD/MNT for those dates.
2014 total billed revenue – $144,219 USD (May 1,2014 exchange rate 1782 = $1)
2015 total billed revenue- $134,373 USD (May 1,2015 exchange rate 1955 = $1)
Do you think it is selective data? A one time occurrence?

May 1, 2012 exchange rate– 1305 MNT= $1
May 1, 2013 exchange rate– 1428 MNT= $1
May 1, 2014 exchange rate– 1782 MNT= $1
May 1, 2015 exchange rate– 1955 MNT= $1

Today’s exchange rate — 1974 MNT=$1

Does anyone see a Pattern?

And to claim they are cutting costs– the corporate secretary’s fiscal compensation for 2014 was 339,046. Really? with every board member receiving 50,000 last year. What was their contribution? Do any of them own MGG property in UB? DO they rent from MGG property — NO THEY DO NOT. I know this for a fact. The board members that live in Ulaanbaatar are renting from different companies, realtors, developers. Nick, Jim Gwen, etc… where do they live. I know exactly where.
Roadshows, conferences in Hong Kong, Singapore, Omaha-Nebraska, traveling around and for what?
I am disappointed that they released Mr Byrne. I also had hopes that someone in real estate will finally provide value.
I am too disappointed to continue writing more about their crap.

Add a Topic
1332
Add a Topic
152
Add a Topic
1340
👍 1

We use cookies on this site to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies.

More Info  
34
0
Would love your thoughts, please comment.x
()
x