we need someone to come in and clean up the capital structure here to free things up. the pref shares really get in the way of the market being able to see value in the ords... with the benefit of hindsight, the decision to issue them was a bad strategic error on the part of management.
Origo’s Kincora Copper in Financial Times today....expectations are that previously written off mining licenses will be returned, and the ongoing conflict between Rio Tinto and the Mongolian government may come to an end. All of this, if it happens, will be positive for Origo and Kincora alike.
"Ex – OT Chief joins Kincora Copper. For those of you following mining and Mongolia, this is a big deal: Cameron McRae joins Kincora Copper’s advisory board. Cameron was most recently President and Chief Executive Officer of Oyu Tolgoi, Rio Tinto’s Country Director for Mongolia, Cameron oversaw over US$6 billion investment and the successful commencement of commercial production from Oyu Tolgoi, a world class copper porphyry deposit. Mr. McRae was responsible for all aspects of the project including safety, strategy, operations and growth initiatives. Pretty good news for Kincora as it takes on its own copper development in Mongolia, next to OT (TSX: KCC)." (Source: Origo CEO blog, 28th Feb)
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