Mongolia’s Erdenes COO Hancock Said to Resign on Cash Crunch - Bloomberg: "The board of the state-run company accepted Hancock’s resignation this week, the person said, declining to be named before the matter is announced publicly. Hancock was the second- highest executive at Erdenes TT, as the miner is also known, and his role included preparing the company to list in Hong Kong, London and on a domestic bourse, the person said.
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Graeme Hancock, chief operating officer of Erdenes Tavan Tolgoi LLC, is seen in this Oct. 30, 2012 photo. Hancock was the second-highest executive at Erdenes TT and his role included preparing the company to list in Hong Kong, London and on a domestic bourse. Photographer: Jerome Favre/Bloomberg
The departure throws into question the timing of what was slated three years ago as a $3 billion initial public offering. At that size, the money raised would be equivalent to about 30 percent of Mongolia’s gross domestic product."
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Enlarge image
Graeme Hancock, chief operating officer of Erdenes Tavan Tolgoi LLC, is seen in this Oct. 30, 2012 photo. Hancock was the second-highest executive at Erdenes TT and his role included preparing the company to list in Hong Kong, London and on a domestic bourse. Photographer: Jerome Favre/Bloomberg
The departure throws into question the timing of what was slated three years ago as a $3 billion initial public offering. At that size, the money raised would be equivalent to about 30 percent of Mongolia’s gross domestic product."
'via Blog this'
