09/03/2010
December 3, 2017
08/26/2010
December 3, 2017

08/30/2010

I am still in UB, Mongolia.


Kuppy,
Your thoughts about Energold’s 2nd Quarter earnings and outlook would be greatly appreciated. The news release looked very positive to me.
Thank you very much. Have a nice day.

Please ask specific questions. ‘My Thoughts’ is a bit vague.

I haven’t had a chance to really dive into the numbers, and won’t for at least another week as I’m pretty fully occupied visiting Soviet era factories in Mongolia.

On the surface, the number is about what I expected. Revenue per meter was a bit light, but going forward, I think it will begin to increase pretty substantially as older contracts at lower margins roll off. I was impressed by total meters drilled though. Here in Mongolia, people complain that they cannot get drill rigs. Clearly, there is massive demand coming down the pipeline and that should translate into much higher margins in 2011. This is my largest position at cost, and I’m very happy with how it’s going so far.


Kuppy,
Have you added to or traded around your GROW position at all? I’ve been adding on the weekness, but have been a bit dissapointed in it’s activity as of late. Thanks for all you do!

I bought shares the day it was deleted from the index. I haven’t done anything else since then. However, this is a somewhat smaller position for me. At a lower price, i will likely add. I have no idea why it’s been acting a bit weak lately. I’m more concerned with changes in the company’s AUM. The smaller gold companies which GROW specializes in have been strong lately–that should translate into an increase in AUM at some point.