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

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Travis Johnson, Stock Gumshoe
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lbgmd181
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lbgmd181

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… Read More ยป

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Travis Johnson, Stock Gumshoe
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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.

Jason_80
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Jason_80

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… Read More ยป

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