MAH, MACMAHON HOLDINGS LIMITED

[henrietta]

Downer wins, MAH loses, in Fortescue consolidation.


http://www.asx.com.au/asxpdf/20150220/pdf/42wrl44396bg19.pdf

Cheers

J

[henrietta]

In Reply To: henrietta's post @ Aug 24 2014, 08:58 AM

Still nothing on the contract dispute in Mongolia, but other contracts going according to plan apparently.

re Mongolia, it seems that MAH isn't the only one having problems. Maybe the new regime will sort things out. It will certainly help MAH to have RIO also batting for them.

Rio Tinto’s Oyu Tolgoi expansion set for yet more delays
THE AUSTRALIAN NOVEMBER 07, 2014 3:41PM
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Matt Chambers

Resources Reporter
Melbourne

NEGOTIATIONS to press ahead with Rio Tinto’s planned $US5 billion expansion of the Oyu Tolgoi copper and gold mine in Mongolia look set to remain in limbo, with the Mongolian Parliament kicking out the Prime Minister and widespread management and board changes at the project.

Two days after Mongolian legislators voted their Prime Minister out, Rio’s subsidiary Turquoise Hill, announced its chairman and chief executive would retire at the end of the year, after less than three years each in those jobs.

And Rio’s (RIO) Oyu Tolgoi chief executive Craig Kinnell returned to Britain last month for family reasons.

Vancouver-based Turquoise Hill, of which Rio owns 51 per cent, said chairman David Klingner and chief executive Kay Priesly, both former Rio employees, would step down at the start of January and December respectively.

Rio copper development vice president (and Turquoise Hill board member) Jeffrey Tygesen will be appointed chief executive and fellow director Jill Gardiner, a former RBC Canada regional head who has never worked for Rio, will become chairman.

Andrew Woodley, who was running the ill-fated Mozambique coal operation Rio sold for $US50m after buying for $4bn will become Oyu Tolgoi chief this month.


Under Ms Priestly and Mr Klingner, Turquoise Hill brought Oyu Tolgoi into production but oversaw a period of tensions with the government that has seen the valuable underground expansion of the project stalled so far for 16 months.

“The appointments were the result of an extensive succession planning program that has been underway for several months,” Turquoise Hill said.

Dr Klingner said he was pleased with the company’s development under Ms Priestly.

“Under her leadership, the company emerged debt free in January 2014 following a successful rights offering, significantly reduced corporate costs ... and divested multiple non-core assets,” he said.

Rio Tinto and Mongolia, which owns 34 per cent of Oyu Tolgoi, have been unable to negotiate a fiscal framework and settle other disagreements over the expansion, which will realise most of the value in the project.

This week’s 36 to 30 vote dismissal of Prime Minister Norov Altankhuyag amid reported allegations of financial mismanagement, including slumping foreign investment, corruption and nepotism, does little for confidence a deal on Oyu Tolgoi is close.

It is thought the next prime minister, which is not determined, will put in a whole new cabinet, which could take time and risks more instability.

Rio would not comment on the political turmoil.

Cheers
J

[henrietta]

In Reply To: batikit's post @ Aug 24 2014, 01:15 AM

Only with more good news, I fear. Resolve Mongolia and get another decent contract, then maybe.

Cheers
J

[batikit]

broke out of the trading range and falling channel

Would it close the 18c gap ?

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[henrietta]

Volume up, price up. Plenty of MAH wanted for some reason.
Cheers
J

[henrietta]

More bad news for MAH. Mine closed.

http://www.asx.com.au/asxpdf/20130605/pdf/42g9kp14dlfhh3.pdf

Cheers
J

[batikit]

In Reply To: henrietta's post @ Feb 4 2013, 05:37 PM

31c hitgoing to break upward by the look of it

[henrietta]

In Reply To: batikit's post @ Feb 4 2013, 02:11 PM

That will cheer up the takers of the placement ......... at 16c !
Cheers
J

[batikit]

In Reply To: batikit's post @ Feb 2 2013, 12:38 PM

looks like upward breakout is morelikely now


target 36 c

[batikit]

Would MAH break upward from this ascending triangle?

I guess it has a good chance....

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