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Xanadu Mines delivers maiden coal Resource of 170Mt at Galshar in Mongolia
December 6 (Proactive Investors) Xanadu Mines' (ASX: XAM) wholly owned Galshar Coal Project in the Dornogovi Province of Eastern Mongolia has an initial JORC Indicated and Inferred Resource of 170 million tonnes of coal.
Independent geological consultants McElroy Bryan Geological Services has estimated an Indicated JORC Resource of 70 million tonnes and an Inferred JORC Resource of 100 million tonnes, all of which are at depths of less than 120 metres.
The Galshar Coal Project comprises three contiguous exploration licences covering more than 131 square kilometres (13,152 hectares) in the Choir-Nyalga Coal Basin.
The project is strategically located within 65 kilometres of a rail spur at the Bor Undor fluorite mine, which connects to the Trans Mongolian Rail system to China.
The new Resource at Galshar, combined with Xanadu's Khar Tarvaga thermal coal project, represents a 51% increase in the company's JORC coal Resource inventory to 497 million tonnes.
Last week Xanadu was granted mining licence MV16871 for the Khar Tarvaga Coal Project by the Mineral Authority of Mongolia, covering a total area of 83.5 square kilometres (8,350 hectares).
The licence is for an initial term of 30 years with an option for two 20 year extensions, providing for a total of 70 years of mining operations. The company intends to further evaluate the development potential for coal to liquids and synthetic natural gas.
Modun Resources inks 489Mt maiden JORC thermal coal Resource in Mongolia
December 5 (Proactive Investors) Modun Resources (ASX: MOU) has achieved a significant maiden JORC coal Resource of 489 million tonnes for its wholly-owned Nuurst Project in central Mongolia.
The Resource, compiled by consultancy CSA Global, exceeds initial expectations and provides potential for a large scale thermal coal mine. The Resource has been defined within six months of Modun acquiring Nuurst.
Modun now has one of the largest tonnage coal resources of the ASX-listed companies currently operating in Mongolia and the company believes it has a substantial project on just 16% of the licence area so far assessed.
The company will immediately commence a Scoping Study and application for mining licence.
A total of 417 million tonnes is in the Indicated category and 72 million tonnes is Inferred.
The 2012 exploration program at the project will target a further coal resource with 84% of the licence under-explored.
Importantly, Nuurst is located six kilometres from existing rail infrastructure, only 120 kilometres south of Mongolia's capital Ulaanbaatar and comprises a 34.5 square kilometre licence area.
Modun said the Project's significant resource and coal seam thickness (100 metre+ coal sequences) should translate into a low stripping ratio, which lends itself to a large scale, low cost mining operation.
Modelling suggests the resource is open to the north and becomes shallower.
Link to Investor Presentation – December 5
Robe: Mongolian Coal Exploration Licence - Exercise of Option
December 5, Robe Australia Limited (ASX:ROB) --
• EXERCISE OF MONGOLIAN COAL EXPLORATION LICENSE OPTION
• PROPOSED TIMING OF GENERAL MEETING
• FUTURE CAPITAL RAISING
The Board of Robe Australia Limited (ASX: ROB) (Robe) advises that after undertaking further due diligence and further assessment of the Geologist Report in respect to Exploration License Area XV-010643 being the area over which an option agreement (Option) was executed by Robe and previously notified to the ASX, the Board of Robe has resolved to exercise the Option.
As notified on 30 November 2011, the Tsagaan Gol project (Project) is located in the prolific South Gobi Province of Mongolia exploration area, located in the Altai Mountain range in Khaliun soum, Govi-Altai aimag consisting of a granted exploration license covering 2,192.94 hectares. The Project is situated 90 km southwest of the Govi Altai provincial centre of Altai and some 1,100 km to the west of the Mongolian capital, Ulaanbaatar. The nearest population to the Project is the town of Khaliun which lies 15 km to the northeast. The Chinese border town of Burgastay is approximately 300 km to the southwest of the Project.
The Project is situated within the Mongol-Altay Basin of the Western Mongolian coal province. The Mongol-Altay Basin is a northwest trending basin covering a total area of approximately 60,000 km2 and bound to the west by the Mongol-Altay mountain range and the Valley of the Great Lakes to the east. The coal seams of the Mongol–Altay Basin are characterised by high to low volatile bituminous coal. Moisture contents of coal deposits in the basin range from 1.1 % to 4.7 % and volatile matter content ranges from 14.8 % to 34.4 %. The Mongol – Altay coals have a calorific value ranging from 29.7 to 35.2 megajoules per kilogram ("MJ/kg") and ash content ranging from 11.6 % to 33.2 %. The maximum vitrinite reflectance ranges from 0.86 % to 3.66 %. Sulphur content is typically low averaging 0.6 % and does not exceed 1 %.
The Project is located adjacent to the Ar Zuun Gol coking coal exploration area, which was being developed by Hunnu Coal Ltd (ASX:HUN) until recently acquired by Banpu Minerals (Singapore) Pte Ltd. Further to the west from Tsagaan Gol, Hunnu Coal Ltd. also owned a large exploration project called Altai Nuurs, acquired from Rio Tinto.
Previous Geological assessment
The initial information of the areas geological setting was obtained when an expedition of the USSR Academy of Science (1926-1949) identified Cambrian, Silurian, Devonian, Carboniferous, Permian, Cretaceous and Cenozoic sediments through fauna and flora relics and differentiated origins and studied the tectonic setting characteristic of the region.
In 1952, regional scale (1:1,000,000) geological mapping and prospecting was conducted targeting petroleum bearing structures within the wide valleys adjacent to the Project area. This work reportedly identified two outcropping coal seams in the southern central part of the current project area. Several trenches were excavated and samples collected for analysis.
1:200,000 scale geological and structural mapping was completed over the Tsagaan Gol area in 1987 under the supervision of A.A Rauzer. A wide range of materials and information regarding the geological setting, tectonics, stratigraphy and mineral resources of the area was determined from the mapping. The occurrence was mapped, trenched, and drilled around this time, with coal samples collected and analysed.
Pursuant to the 1987 mapping:
• the coal bearing strata in the Tsagaan Gol area is reportedly 200 m thick and extends for 7 km along strike from east to west. The western part of the area is covered by 100 m thick sediments. Three coal intervals of 20 m, 8 m and 10 m thickness were identified in one trench. Further exploration and feasibility studies will be required to determine the extent of the occurrence within the Project;
• the coal bearing sediment of Tsagaan Gol continues to extend along the western bank of Ogtorgo River in the southwestern corner of the field, passing through Tsagaan River, moving onward through Zurgaadai ridge along northern side of Zuun River and passes through the Kharzat River source. The total length is over 10km and the width is generally between 600-700m, sometimes reaching 1km. Upper Permian coal seams are exposed in one area within the Project exploration licence.
• the coal bearing sediment, which strikes 270°-295° along the latitude and dips 30°-70° to northeast and north, is distributed within Upper Permian sediment in graben and affected by folding. The sediment is located along the intersection of regional faults that are trending along latitude and northwest.
• numerous coal seams were intersected in trenches and excavated in various locations in the coal bearing sediment area. For instance, up to a 40m thick coal seam trench was excavated on the west side of Ogtorgo River, a 10-15m thick coal seam trench was excavated in Orgon shireg of Zuun River and 4 seams of 1m thickness were intersected respectively. All these occurrences are reported adjacent to the Tsagaan Gol Project to the west.
Need for further Exploration and assessment
No resources are currently defined within the Tsagaan Gol exploration license. Further exploration and feasibility studies are required to confirm the presence and quality characteristics of the coal; identify and quantify challenges for future exploration and any potential mining operation and to define JORC Code compliant resources.
Further Mongolian Coal Exploration opportunities
The Board also recognizes the need to expand its' Mongolian coal portfolio and in conjunction with its advisors - Cunningham Peterson Sharbanee Securities Pty Ltd will in due course assess further Mongolian coal exploration opportunities. If any of these are proceeded with, the Company will require further capital to acquire and undertake further exploration activity.
(map)
Exercise of Option
Pursuant to the Option, the Exercise Price in consideration for the sale and the purchase of the tenement as outlined above is:
• the issuance of 100 million shares in Robe (pre-reconstruction); and
• the payment of a further USD 400,000 in addition to the non-refundable option fee of USD 100,000 previously paid.
Settlement is subject to and conditional upon satisfaction of any conditions required by ASX including requirements under Chapters 1 and 2 of the ASX Listing Rules and compliance with ASX Listing Rules.
Settlement is also subject to and conditional upon Robe obtaining all necessary Shareholder and other approvals for the exercise of the Option and the transactions contemplated by the Option A including by not limited to:
• the issuance of the Consideration Shares totaling 100 million shares in Robe; and
• any other approvals as may be reasonably necessary to implement the acquisition of the tenements (as outlined above) pursuant to the Option.
The ASX has indicated that all shares to be issued to the vendor will be subject to escrow and that any shares issued pursuant to a capital raising which takes place prior to the Robe re-complying with Chapters 1 and 2 of the Listing Rules may be subject to escrow.
Proposed General Meeting
As advised on 11 October 2011, the proposed acquisition constitutes a change in the nature of the Company's activities and as such it is required pursuant to Listing Rule 11, that approval is obtained from Shareholders at a General meeting and the Company recomply with Chapters 1 and 2 of the Listing Rules.
If the transaction is approved by Shareholders, the Company Securities will be suspended from trading following the General Meeting until the requirements of Chapters 1 and 2 of the Listing Rules have been satisfied. The notice of meeting that is sent to Shareholders will contain further information regarding the acquisition and the change of activities.
The Company expects to hold a General Meeting in February 2012 to ratify the acquisition of the Project and such other resolutions as required to re-comply with Chapters 1 and 2 of the Listing Rules.
Proposed changes to Robe Board
As a consequence of the Boards' decision to exercise the Option, the Board will actively engage in identifying suitable additional Board members with specific expertise in the resource sector. This is likely to entail changes to the existing Board structure in due course and include the appointment of exploration and mining industry professionals with appropriate Mongolian and coal mining expertise.
Proposed Capital Raising
The existing Project will require further capital to undertake an environmental impact assessment, scoping studies, hydrogeology studies and other feasibility studies given its very early stage exploration status.
The Company expects to raise up to $3 million (which may be supplemented if further assets are identified for acquisition) to both meet the requirements of Chapters 1 and 2 of the Listing Rules and to fund further feasibility studies and drilling and will lodge a Prospectus in respect to this raising. Eligible Shareholders will be provided a Priority Offer in respect to the raising and existing Option Holders who will have no inherent right to participate in the Priority Offer will be notified of the raising and given time to exercise their options if they so choose.
The Board of Robe appreciates the support of Shareholders' to date and looks forward to rewarding their patience.
Mongolian Resource Corporation hits 11m at 5.6g/t gold at historic Sujigtei mine
December 5 (Proactive Investors) Mongolian Resource Corporation (ASX: MUB) has intersected high grade gold from drilling of the first nine holes at the historical Sujigtei Gold Mine Project in Mongolia.
These holes have confirmed that the Main Vein has only partially been mined and retains ore of mineable widths and grades including:
- 11 metres at 5.6 grams per tonne (g/t) gold;
- 2 metres at 11.0 g/t gold; and
- 1 metre at 28.6 g/t gold.
The Sujigtei mine was opened and mined on 7 adit levels to 180 metres depth during the period 1980-1991, and was suddenly closed as the Russians left Mongolia in 1991.
The company is examining the remaining mineralisation on the current workings and targeting further depth extents from the existing workings. These results are being reviewed in light of potential for an open cut type ore body.
The company is encouraged that the local Partisan miners mined widths significantly wider than the 0.4-0.6 metres historical widths shown on the Soviet plans. The Bulk of the Partisan Mining was undertaken in 2009-2010 with processing of high grade ore at a local gravity mill.
The veining at Sujigtei remains open at depth with mineralisation now extended to depths 80 metres below the lowest existing Mine Level.
Given that Centerra Gold Inc.'s (TSE: CG) adjacent Gatsuurt Deposit (1.2 million ounces in reserves) has mineralisation extending for 900 meters below surface, it is expected the mineralisation at Sujigtei will continue to similar depth levels.
A second underground drill rig capable of 500 metres of diamond drilling has arrived in Ulaanbaatar and will be used during the winter season to continue to deeper resource exploration. Surface contract drilling will cease during winter due to water supply constraints.
Blue Eyes Discovery
Five shallow exploration drill holes to a depth of 100 metres were completed on a magnetic high feature 500 metres southeast of the Blue Eyes Mine Site where a large alteration anomaly exists.
These preliminary holes show that a new discovery of gold mineralisation has been identified with the shallow (<30 metres) silica patches showing gold values including 11 metres at 0.51 g/t gold and 2 metres at 1.56 g/t gold.
The company will continue drilling on the prospect with the next hole to target the adjacent high resistivity- high chargeability anomaly. This zone is interpretive to have higher silica content, and potential for more significant direct gold mineralisation.
Rio buys into Mongol neighbour
December 6 (The Australian) RIO Tinto has boosted its shares in Canadian-listed Mongolia copper and gold play Entree Gold (TSX:ETG, NYSE:EGI) by exercising pre-emptive rights in a $C14.4 million ($13.8m) raising by the junior.
Entree's tenements surround Ivanhoe Mines' $US10 billion ($9.7bn) Oyu Tolgoi copper and gold project being built in Mongolia's Gobi Desert.
Rio owns 49 per cent of Ivanhoe and operates the giant mine that is expected to account for 30 per cent of Mongolian gross domestic product.
Rio said it had bought an extra $C1.85m of Entree shares after the Vancouver-based Entree priced its capital raising, allowing it to keep its stake in Entree at 12.9 per cent.
The purchase is small for Rio, but indicates it is keen to keep its grasp on the tenements surrounding the huge planned mine.
Entree has stakes in an extension of the Hugo Dummett North deposit at the northern end of the Oyu Tolgoi deposit and at the Heruga North deposit, which is at the southern end.
Ivanhoe, with whom Rio is in arbitration over a shareholder rights plan, owns 10.9 per cent of Entree but did not participate in the raising.
Entree plans to use the funds for general purposes and development of its Shivee West tenements, to the west of Oyu Tolgoi, and copper exploration projects in New Mexico.
Rio took its stake in Entree in June 2005, before Rio took its initial stake in Ivanhoe by offering funds to build Oyu Tolgoi.
Manas Retains Investor Relations Consultant to broaden European investment community
BAAR, SWITZERLAND, December 2, 2011 -- Manas Petroleum Corp. ("Manas") (TSX‐V: MNP; OTCBB: MNAP) is pleased to announce that, effective November 22, 2011, it has retained General Research GmbH ("GR") to provide investor relations and corporate communications services in Europe.
GR is a consulting firm based in Munich, Germany and managed by Dr. Georg Hochwimmer, an investor relations professional with over 10 years of experience providing investor relations services for public companies. Manas has retained GR until November 16, 2013 pursuant to a written agreement in which GR has agreed to assist Manas in organizing road shows, assisting Manas with investor presentations and other activities intended to increase the Company's profile in the capital markets. In return, Manas has agreed to pay to GR a monthly retainer of EUR 5,000 plus out of pocket expenses and it has granted options to purchase 500,000 shares of common stock at an exercise price of US$0.20 per share, which is higher than the closing price, last sale of the day on November 22, 2011, on the OTC BB; these options are to vest in four installments on the sixth, twelfth, eighteenth and twenty‐fourth months following the date of grant.
Manas is looking forward to working with GR to broaden awareness of its business and its properties in the European investment community.
STOCK EXCHANGE WEEKLY REVIEW
Ulaanbaatar, Mongolia, December 5 /MONTSAME/ Five stock trades were held at Mongolia's Stock Exchange from November 28 to December 2. In overall, 1.3 million shares were sold of 75 joint-stock companies totaling MNT 441.6 million. 132.6 thousand governmental bonds were sold with MNT 13.3 billion. The cash transaction ran on money of MNT 13.7 billion.
Index TOP-20 was 20583.83 points decreasing 422.84 units or 2.0% against the week earlier. The total market capitalization was set at MNT two trillion 114.7 billion decreasing MNT 75.0 billion or 3.4%.
Shares of "Darkhan teever" /101.1%/, "Asia Pacific Properties" /74.1%/, and "Khishig uul" /54.0%/ increased, but shares of "Bayalag nalaikh" /30.5%/, "Boonii khudaldaa" /26.3%/, and "Bayanteeg" /19.6%/ decreased. 37 stocks closed higher, 30 shares declined and eight shares remained unchanged.
Shares of "Remikon" /964.6 thousand units/, "Olloo" /161.5 thousand units/ and "State Department Store" /27.9 thousand units/ were the most actively traded in terms of trading volume and in terms of trading value--"Remikon" (MNT 164.9 million), "APU" (MNT 44.8 million), and "Tavantolgoi" (28.9 million).
"JOL"JSC SHARES DELISTED
December 1 (MSE) "Jol" JSC's 79,545 shares been delisted from Mongolian Stock Exchange registration following the Mongolian Stock Exchange Chief Executive Officer's Resolution No.214 of Nov 30th 2011, and Financial Regulatory Commission's resolution No.296 of Oct 12nd 2011 and "Jol" JSC Shareholder meeting Resolution No.9 of June 24th 2011.
Development Bank to issue USD 600 million in bonds
December 5 (news.mn) The Development Bank (DB) has announced that it will issue USD 600 million in bonds on the Singapore Stock Exchange in 2012. The bonds will be issued with the assistance of global financial giants ING, Deutsche Bank, and HSBC. Prime Minister S.Batbold and Finance Minister S.Bayartsogt attended a signing ceremony for the agreement in the Government House on December 2.
The bonds will be the first sold on the international market with the backing of the Mongolian government. Officials say the terms will be good, despite uncertainty in the international financial markets. The DB says the bonds will finance programs and projects that promote development and economic growth, produce value-added products, and reduce Mongolia's dependence on imports. Specifically, the bonds will finance railroad projects, the Sainshand industrial complex, road construction projects, and energy projects.
DB Vice Director L.Bolormaa told our correspondent that there are some advantages to issuing the bonds because it introduces Mongolia to the international bond market. She said it will also open the door for Mongolia's private sector and commercial banks to the international market.
L.Bolormaa said the DB has MNT 16.7 billion in capital but that is not enough to finance big projects, which is why the bank requested additional capital from the Finance Ministry. The 2012 budget will allocate MNT 33 billion to the bank. The DB also is working on a loan program, and USD 400 million will be raised in 2012 through that program, the bank believes. The first agreement with China's development bank will be signed next month.
Related: Mongolia to issue 600 million U.S. dollars equivalent of euro bonds – Xinhua, December 2
Mayer Brown JSM advises Development Bank of Mongolia on US$600 million Euro Medium Term Note Programme
December 5 (Conventus Law) Mayer Brown JSM is pleased to announce that it has advised Development Bank of Mongolia LLC ("DBM") on the establishment of its landmark US$600 million Euro Medium Term Note (EMTN) Programme.
Development Bank of Mongolia is a newly formed policy bank created by the Mongolian government to foster the economic and infrastructure development of Mongolia. This EMTN programme is unconditionally and irrevocably guaranteed by the Ministry of Finance on behalf of the Government and provides DBM with a platform for future large-scale fundraisings.
ING is sole global coordinator on the transaction while Deutsche Bank, HSBC and ING were appointed to act as the joint arrangers and dealers of the programme.
"We are honoured to have been involved in this milestone transaction for DBM," said Jason T. Elder, a partner of Mayer Brown LLP based in Hong Kong. "Mayer Brown JSM is committed to supporting Mongolia's macroeconomic development and Government objectives. We remain excited about the future prospects and opportunities in Mongolia and this transaction represents further evidence of the economy's growth."
The Mayer Brown JSM team was led by corporate partner Jason T. Elder.
Mongolia to borrow USD 300 million from South Korea
December 5 (news.mn) The South Korean government will loan Mongolia USD 300 million for health and air pollution reduction projects. The agreement was signed on December 2 by Mongolian Finance Minister S.Bayartsogt and South Korean Ambassador Jon Il.
The money will be loaned by South Korea's Economic Development Cooperation Fund (EDCF), which was established by the South Korean government in 1987 to support economic growth in developing countries.
EDCF has assisted Mongolia since 1993 in the communications, technology, health, energy, and transportation sectors. Seven EDCF projects have been implemented in Mongolia.
The USD 300 million loan will be used build a National Center for Diagnostics and Treatment, as well as other programs and projects, all of which are to be completed by 2015. S.Bayartsogt noted that the terms of the 35-year loan are favorable to Mongolia, with an interest rate of 0.15 percent.
The South Korean government is also interested in financing renewable energy projects, and says it will make available loans with an interest rate of 0.05 percent for wind and solar power, biotechnology, garbage recycling, clean water systems, and sewage treatment facilities.
Mongolian currency devalues to 16-month low
ULAN BATOR, Dec. 5 (Xinhua) -- The Mongolian tugrik devalued to a 16-month low against the U.S. dollar last week, according to statistics from the Mongolian central bank.
The tugrik has been depreciating against the dollar rapidly since August this year. The past four months saw the currency devalue by 9.2 percent, local media reported Monday.
According to statistics released by the Bank of Mongolia, the official exchange rate of the dollar against the tugrik stood at 1346.48 last Friday, marking the lowest point for the Mongolian currency since Aug. 5, 2010.
Mongolia's high trade deficit and surging inflation were considered the main causes for the devaluation. During the last 10 months, Mongolia's trade deficit was about 1.56 billion dollars, more than five times the figure of the same period in 2010.
Mongolia to tighten monetary policy to curb inflation
ULAN BATOR, Dec. 3 (Xinhua) -- Mongolia's central bank will tighten monetary policy to curb the country's inflation, local media reported on Saturday.
Inflationary pressure remained high although parliament had passed a revised state budget for 2012, Mongol Bank President L. Purevdorj told reporters.
Parliament had scaled down the original budget plan for 2012 by 900 billion Mongolian tugriks (about 692 million U.S. dollars). This could help reduce the country's inflation by 2 percentage points, said Purevdorj.
But the Mongol Bank needed to continue a tight monetary policy as the parliamentary move could not rein in the runaway inflation.
Mongolia's fiscal policy has been highly expansionary in recent years, which caused wide concerns over overheating of the country's economy.
L.Purevdorj: Inflation to be about ten percent
December 3 (news.mn) Parliament passed a protocol on monetary policy for 2012 on Wednesday. Our correspondent talked with Mongol Bank President L.Purevdorj about the protocol.
Q: Do you think it's possible to hold inflation in the single digits in 2012?
A: Since Parliament has cut budget expenditures by MNT 900 billion, inflation could be reduced by two percent. But inflation will still be high even after a two percent reduction, which means it is not possible to weaken monetary policy in 2012. In other words, monetary policy will be strong to hold inflation to about ten percent.
Q: You have stated that Mongol Bank could hold inflation in the single digits, if the general budget was cut by MNT 1 trillion. What about that?
A: Certainly, Parliament has made progress by cutting the general budget, but the inflation situation has not been completely fixed. With a strong monetary policy, inflation could be held near ten percent in the future.
Also, we should pay attention to granting allowances of MNT 1 million each to 2.3 million citizens, because this issue has not been decided. If citizens take the MNT 1 million in cash, inflationary pressure will be put on the economy. Therefore, Mongol Bank suggests issuing shares of MNT 1 million that could be cashed in over a five or six year period. For instance, if 15 to 20 percent of those shares are cashed in each year, the economy will develop stably.
Q: Is there a possibility of reducing interest rates on loans in 2012?
A: There is no possibility of reducing interest rates dramatically in 2012 because monetary policy will be strong due to high inflation. Loan granting increased by 61 percent in 2011, and this growth is fostering devaluation and property price increases. That is why loan granting will be reduced in 2012.
But Mongol Bank has predicted that loan granting will still increase by 35 percent in 2012. The private sector's development has continued, and commercial banks' interest rates have been reduced in recent years despite a strong monetary policy.
Q: But there is some indication that commercial banks will actually increase interest rates. What is the reason for that?
A: Commercial banks are granting fewer loans and increasing interest rates a little. This is not a negative situation. Banks take measures to decrease the demand for loans.
Q: There are also indications that currency rates will fall in 2012 and people will take more loans because of that.
A: This is wrong information. Tugrug rates will not fluctuate and it will be stable in 2012. I said that inflation will be held to ten percent.
Q: How will the banking sector be in 2012?
A: The banking sector has strengthened since it lost two banks during the economic crisis. Mongol Bank has learned from the situation. Current banks have can make payments in a short period of a time and their capital sufficiency has been improved.
Q: When will the government's guarantee of citizens' savings expire?
A: The guarantee will end in December 2012. A draft law on saving will soon be submitted to Parliament.
Magazine names Golomt Bank best bank in Mongolia
December 5 (news.mn) Banker magazine has named Golomt Bank the best bank in Mongolia for 2011. The magazine also named Golomt the best bank in 2010.
Earlier this year, Euromoney magazine named Golomt a leading bank in Mongolia.
In naming Golomt the best bank, Banker cited Golomt's leading position, financial indicators, results, and stable growth. Golomt Bank's profits increased by 52.3 percent in 2010, reaching MNT 20 billion.
Other indicators the magazine considered are new initiatives, advanced use of technology, and dissemination of new products.
Banker magazine also noted that Golomt Bank has improved corporate governance and risk management in high levels, and these achievements have contributed to the bank's success. For example, professional bankers sit on the bank's Representative Managing Council.
Golomt Bank has also become the first commercial bank in Mongolia to meet the requirements of Moody's and Standard & Poor's.
Government holds forum on public-private partnerships
December 5 (news.mn) The Government held a forum called "Partnership for Development" in the Government House on December 3.
Prime Minister S.Batbold opened the forum and said it was intended to bring together the state, the private sector, and scholars to discuss ways to improve business conditions for the country's development, and to foster public-private cooperation.
He said about 89,000 private sector organizations were registered in Mongolia at the end of June 2011, about 50,000 of which are actively operating. The premier noted that the number of businesses in the country is increasing annually. He said the private sector accounted for 73.7 to 74.3 percent of GDP in the last four years and it accounted for about 30 percent of tax revenues. He also said the World Bank's ranking of Mongolia's private sector has improved from 89 to 86.
S.Batbold noted that the Government and Parliament passed policies and laws in 2010 and 2011 to improve private sector legislation and support private sector development and investment, including "National Strategy to Support Private Sector Development," "State Policy of State and Private Sector Partnership," "National Program of Corporate Governance," and the Law on Concessions.
The prime minister added that the Government is determined to support increased domestic production to reduce Mongolia's dependence on imports.
The head of the National Development and Renovation Committee, Ch.Khashchuluun, and the head of the Mongolian National Chamber of Commerce and Industry, S.Demberel, read reports about public-private partnerships and how to develop them. Participants in the forum had many suggestions, such as loan guarantees, developing the industrial sector, and reducing the country's dependence on the mining sector.
Delegates decided to establish a Consulting Committee for State and Private Sector Cooperation, and issued recommendations.
68 Thousand New Workers Registered this Year
December 5 (business-mongolia.com) As a result of the project "A Year for Support of Employment" established by the Government of Mongolia, 68071 mongolians – 29 thousand of which are female, have been registered as employed as of December 2nd this year.
Number of new workers by region is as follows:
Western Provinces: 8424
Eastern Provinces: 4855
Khangai region: 11423
Central region: 11281
Ulaanbaatar city: 32088
Khovd province registered the most new workers among the Western Provinces with 1898. Dornod led the Eastern provinces with 2031. Arkhangai province lead the Khangai region with 2293 while Tuv province lead the Central area with 2349 new workers.
Majority of the new workers (12602) have been employed in the construction industry.
Delegates at forum oppose salary increases
December 5 (news.mn) Delegates attending the "Partnership for Development" forum in the Government House on December 3 said they opposed the salary increases for state workers included in the recently passed 2012 budget.
The Government organized the forum to discuss ways to improve business conditions for the country's development, and to foster public-private cooperation.
Delegates said the 53-percent raise for state workers would adversely affect the private sector, which produces 80 percent of the country's wealth. About 130,000 state workers make up 20 percent of Mongolia's workforce.
Private sector officials warned that raises for state workers must be paid for with taxes on the private sector, which could lead to decreased salaries for workers in the private sector.
Mongolian National Chamber of Commerce and Industry President S.Demberel noted that the state predicts per capita income will reach USD 5,000 in 2012, but he said that would have little effect on people's lives due to increased state spending and economic problems such as inflation.
He suggested that private sector workers' incomes should increase along with increased production in the private sector.
MPP and MPRP may form alliance for election
December 5 (news.mn) There are reports that the MPP and the MPRP may form an alliance for the 2012 parliamentary election. MPP Chairman S.Batbold and MPRP Chairman N.Enkhbayar have reportedly met to discuss the issue.
N.Enkhbayar proposed that the MPRP be given ten seats in Parliament if the two parties form an alliance. But a final agreement on the proposed alliance has not been reached.
According to research, the DP is the highest ranking party in Mongolia. The MPP is second, and the MPRP ranks between third and sixth. But if the MPP and the MPRP formed an alliance, their combined ranking would overtake the DP's. So if the MPP and MPRP ally, it would present a formidable obstacle to the DP.
HH Amir of Kuwait receives Mongolia President
KUWAIT, Dec 5 (KUNA) -- His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah accompanied by His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah received Monday at Bayan Palace the President of Mongolia Tsakhia Elbegdorj and his accompanying delegation, on the occasion of his visit to the country.
His Highness the Amir also headed official talks, which took place later, along with His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah and Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah on behalf of Kuwait and on behalf of the Mongolian side represented by President Elbegdorj and visiting high ranking officials.
Deputy Minister of Amiri Diwan Sheikh Ali Jarrah Al-Sabah said the talks highlighted bilateral relations and ways to boost them in various fields, and to the interests of the two peoples' countries.
The two sides also discussed, in a friendly atmosphere, issues of mutual concern, Sheikh Ali added.
Mongolia places in 120th out of 183 countries in corruption perceptions index 2011
December 5 (UB Post) "Transparency International" global coalition against corruption reported that, "Every society has certain amount of corruption. However, illegal actions are crossing the line."
The coalition releases the corruption perceptions index every year. Yellow is the color that shows the countries with lowest corruption, and red color shows the countries with highest corruption. As you can see from the picture, the world is getting threatened with corruption and bribery.
The countries that were placed above or have least corruption are New Zealand, Denmark, and Finland. Meanwhile, the countries that have highest corruption are Afghanistan, North Korea and Somalia.
For our two neighbor countries, Russia was placed at 143th and China was place at 75th.
Chief of research and study at the department of Mongolian Independent Authority against Corruption B.Batzorig said, "First and foremost, cultivating a sound legal environment is the best way to fight against corruption. Corruption is taking place worldwide, as you can see from European debt crisis and protests against corruption in Arabian countries."
Introducing the 7th Annual International Tourist Fair
December 5 (UB Post) "Mongolia – ITF 2011" is an annual fair organized by the Mongolian National Tourism Center, under the supervision of Ministry of Nature, Environment and Tourism. ITF 2011 lasted from December 2 to 3. Tourism is a fast-growing industry in Mongolia, and the ITF introduces opportunities for tourism companies and organizations to share experiences and establish new connections across the globe. It also to gives them the chance to offer information to the general public. The fair has become more and more popular over the years and the seventh ITF in 2011, unlike the previous ones, had exceptionally large audience and participants including MIAT Mongolian Airlines, the new Ramada Hotel and Tsonjin camp.
Numerous companies from both the city and provinces were present at the fair, companies that provide services in hotels, airlines, tourist camps and attractions, restaurants and pubs. Representatives from China and Russia were also providing information on their tourism-related companies and organizations.
"This is the third time we are sponsoring and participating in the ITF. Our sponsorship is dedicated to the development and expansion of the Mongolian tourism industry. The public, tourists and guests may be informed on tour agencies, hotels, and air travel information in addition to any other important information regarding tourism by paying a visit to ITF. As for us, we are proud to say that in 2007 we have brought and built the internationally famous Kempinski Hotel management system, and is successfully adapting it to Mongolia," said Kempinski Hotel Khan Palace marketing manager.
First test of garbage recycling facility scheduled
December 2 (news.mn) A garbage recycling facility in the Songinokhairkhan district has scheduled its first test run for 3 p.m. on Friday. The facility was built with an investment of USD 3.5 million from South Korea.
The facility has the capacity to process eight tons of paper, metal, plastics, and other garbage each day, recycling it into raw materials and low-smoke "firewood."
By some accounts, it could process up to 80 percent of the city's garbage.
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…
FACTBOX-Key political risks to watch in Mongolia
ULAN BATOR Dec 5 (Reuters) - Mongolia sits on vast quantities of untapped mineral wealth, the exploitation of which is likely to turn it into one of the world's fastest growing economies over the next decade.
But political uncertainty ahead of parliamentary elections in June 2012 has worried investors, with Mongolia's shaky coalition government under pressure to renegotiate a landmark 2009 investment agreement for the Oyu Tolgoi copper deposit.
The priority for Mongolia is the development of its tiny economy, and foreign investors want to know if the government can create a stable legal environment while handling the pressures exerted by impatient citizens as well as its two giant neighbours, Russia and China.
Following is a summary of key political risks to watch:
INVESTMENT POLITICS
The government has now formally given up on its idea of renegotiating the contract for the Oyu Tolgoi copper-gold mine, after earlier saying it wanted to look again at a 2009 deal with Ivanhoe Mines, now 49 percent owned by Rio Tinto .
Foreign investors were worried that renegotiating a deal two years after it was first signed would undermine confidence, but Mongolia is under pressure to boost revenues and meet ambitious social pledges made at the last elections in 2008. Some politicians have called for the prime minister to resign over his handling of the Oyu Tolgoi contract.
The controversy over Oyu Tolgoi's ownership has spilled over into another giant mine, the Tavan Tolgoi or "Five Hills" coal deposit.
Mongolia hopes to complete an investment agreement for the project before the end of 2011 as it races to launch a much-anticipated initial public offering, and meet the promises it made to voters. Its chief financial officer said in November it would be listed in London, Hong Kong and Ulan Bator, but the date was unclear.
An initial proposal to hand development rights in the project to China's Shenhua, Peabody of the United States and a Russian-Mongolian consortium was rejected, and the government is trying to devise another deal that will include Japanese and South Korean partners.
The government is under pressure to pass several new laws before the end of the year, including the budget, an election law, judicial reforms, and the investment agreement for Tavan Tolgoi. Many are worried that there will not be enough time to do everything.
What to watch:
-- Progress of new laws through parliament.
-- Whether the government can produce an investment agreement for Tavan Tolgoi that will satisfy foreign partners and keep the public happy, and whether it can do it in time.
-- More inward investment. In November, commodities trader Trafigura and private equity investor Origo Partners Plc , formed a joint venture to develop Mongolian coal and iron ore deposits for export.
-- Whether foreign investors will be deterred by Mongolia's less than transparent approval procedures.
THE RESOURCE "CURSE"
Mongolia's dependence on mining has alarmed environmentalists and opposition politicians, and the country is already showing classic symptoms of "Dutch disease", including soaring inflation and high interest rates.
The government is trying to put in place structures that will protect it against fluctuating commodity prices, and is keen to use the proceeds from mining to pay for infrastructure, health and education programmes and develop other sectors.
It is under pressure to spread the wealth, and has already extracted "pre-payments" from foreign firms involved in both the Tavan Tolgoi and Oyu Tolgoi projects in order to give money to the public.
What to watch:
-- How Mongolia uses the proceeds from its mining projects. It has set up education and fiscal stabilisation funds, but it has also promised direct dividends for Mongolian citizens.
-- How it deals with rapid economic change as well as inflation as foreign investment transforms the country's mainly rural economy. The International Monetary Fund warned in November that Mongolia's economic policies are creating inflationary pressures.
GETTING ON WITH THE NEIGHBOURS
Many of Mongolia's 2.7 million citizens are concerned about growing Chinese and Russian influence, and their fears were not allayed by the plan to hand the majority of Tavan Tolgoi's western block to Chinese and Russian interests.
China already dominates Mongolia's economy, buying 90 percent of the country's exports in the first half of 2011.
Mongolia's growing dependence on Russia and China for fuel, power and transportation also poses a major risk to its mining sector. Russia has been known to turn off supply taps, and China is not averse to closing crucial railway links.
Mongolia also depends on Russia's railway network to fulfil plans to deliver coal to Japan and South Korea.
What to watch:
-- Will efforts to ease dependence on China merely increase Russia's hold, and vice versa? Is the Chinese market for coal and other minerals its only option in the short term?
-- How will the government handle growing nationalist sentiment, and fears about the role of foreign firms and workers.
Table: Mongolia Related Stocks (Source: Bloomberg)
Name | Symbol | $ | Price | Change | +-% | Open | High | Low | Volume | Time | % YTD | % 12 m | |
Indices | ASX 200 | 4,321.30 | 33.30 | 0.78% | 4,292.60 | 4,335.20 | 4,292.60 | - | 5-Dec | ||||
Nikkei 225 | 8,695.98 | 52.23 | 0.60% | 8,697.78 | 8,704.48 | 8,668.04 | - | 5-Dec | |||||
Hang Seng | 19,179.69 | 139.30 | 0.73% | 19,117.89 | 19,188.86 | 18,972.90 | - | 5-Dec | |||||
FTSE 100 | 5,567.96 | 15.67 | 0.28% | 5,552.29 | 5,602.80 | 5,545.93 | - | 5-Dec | |||||
TSX Composite | 12,119.33 | 44.24 | 0.37% | 12,152.06 | 12,268.91 | 12,076.17 | - | 5-Dec | |||||
S&P 500 | 1,257.08 | 12.80 | 1.03% | 1,244.33 | 1,266.73 | 1,244.33 | - | 5-Dec | |||||
ASX | Aspire Mining | A$ | 0.35 | -0.005 | -1.41% | 0.35 | 0.36 | 0.345 | 2250836 | 5-Dec | -27.08% | -0.125 | |
Blina Minerals | A$ | 0.005 | -0.001 | -16.67% | 0.006 | 0.006 | 0.005 | 7198858 | 5-Dec | -66.67% | -0.6875 | ||
C@ | A$ | 0.042 | 0 | 0.00% | 0.041 | 0.042 | 0.04 | 0 | 25-Nov | 0.00% | |||
General Mining | A$ | 0.058 | 0 | 0.00% | 0.058 | 0.058 | 0.058 | 52223 | 5-Dec | -51.67% | -0.51667 | ||
Guildford Coal | A$ | 0.75 | 0.02 | 2.74% | 0.74 | 0.775 | 0.73 | 1648908 | 5-Dec | 2.74% | 0.315789 | ||
Haranga Resources | A$ | 0.32 | 0.04 | 14.29% | 0.29 | 0.34 | 0.28 | 3973198 | 5-Dec | -50.00% | |||
Hunnu Coal | A$ | 1.795 | 0 | 0.00% | 1.78 | 1.795 | 1.78 | 0 | 16-Nov | 34.46% | 0.402344 | ||
Modun Resources | A$ | 0.055 | 0.003 | 5.77% | 0.057 | 0.062 | 0.055 | 38581552 | 5-Dec | 450.00% | 4 | ||
Mongolian Res Corp | A$ | 0.13 | 0 | 0.00% | 0.13 | 0.13 | 0.13 | 0 | 2-Dec | -0.6579 | |||
Robe Australia | A$ | 0.03 | 0.003 | 11.11% | 0.028 | 0.03 | 0.028 | 1056000 | 5-Dec | 220.86% | 2.92157 | ||
Voyager Resources | A$ | 0.074 | -0.002 | -2.63% | 0.075 | 0.076 | 0.074 | 1996770 | 5-Dec | 38.00% | 0.862936 | ||
Xanadu Mines | A$ | 0.4 | 0.045 | 12.68% | 0.36 | 0.4 | 0.36 | 409540 | 5-Dec | -29.20% | |||
MSE A Board | Aduunchuluun | MNT | 6,500 | 0 | 0.00% | 6,000 | 6,500 | 5,800 | 0 | 2-Dec | -18.75% | -0.21978 | |
APU | MNT | 3,485 | -4 | -0.11% | 3,450 | 3,485 | 3,450 | 130 | 5-Dec | 75.13% | 0.894022 | ||
Atar Urguu | MNT | 38,000 | 0 | 0.00% | 38,000 | 38,000 | 38,000 | 0 | 2-Dec | 111.11% | 1.28916 | ||
Baganuur | MNT | 11,500 | -800 | -6.50% | 12,300 | 12,300 | 10,900 | 1067 | 5-Dec | 9.52% | 0.148736 | ||
Mogoin Gol | MNT | 23,100 | 100 | 0.43% | 23,000 | 23,100 | 23,000 | 119 | 5-Dec | 95.76% | |||
BDSec | MNT | 3,700 | 0 | 0.00% | 3,950 | 3,950 | 3,700 | 0 | 1-Dec | 48.00% | 0.48 | ||
Bayangol Hotel | MNT | 36,000 | -1000 | -2.70% | 36,000 | 36,000 | 36,000 | 1 | 5-Dec | 50.63% | 0.565217 | ||
Bayanteeg | MNT | 22,105 | 0 | 0.00% | 22,110 | 22,110 | 22,105 | 0 | 29-Nov | 0.00% | 8.2335 | ||
UB BUK | MNT | 33,000 | 0 | 0.00% | 33,000 | 33,000 | 33,000 | 0 | 1-Dec | 626.07% | |||
Eermel | MNT | 2,801 | 156 | 5.90% | 2,800 | 2,801 | 2,800 | 276 | 5-Dec | -2.57% | 0.077308 | ||
Gobi | MNT | 4,700 | -100 | -2.08% | 4,800 | 4,800 | 4,700 | 177 | 5-Dec | -16.07% | -0.18261 | ||
Gutal | MNT | 2,295 | 0 | 0.00% | 2,295 | 2,295 | 2,295 | 0 | 29-Nov | ||||
Hi B Oil | MNT | 200 | 0 | 0.00% | 200 | 200 | 200 | 0 | 1-Dec | 11.11% | 0.149425 | ||
Khukh Gan | MNT | 191 | -2 | -1.04% | 195 | 195 | 191 | 300 | 5-Dec | 2.14% | 0.24026 | ||
Hermes Centre | MNT | 60 | 3 | 5.26% | 58 | 60 | 58 | 3508 | 5-Dec | 11.11% | 0.132075 | ||
Jenko Tour Bureau | MNT | 93 | 2 | 2.20% | 91 | 93 | 91 | 1004 | 5-Dec | -1.06% | -0.02105 | ||
Telecom Mongolia | MNT | 2,850 | 0 | 0.00% | 2,750 | 2,850 | 2,750 | 0 | 2-Dec | -18.57% | -0.20833 | ||
Mongolia Dev Res | MNT | 1,250 | 0 | 0.00% | 1,250 | 1,250 | 1,250 | 0 | 30-Nov | -3.85% | -0.05303 | ||
Moninjbar | MNT | 145 | 0 | 0.00% | 145 | 145 | 145 | 5000 | 5-Dec | 26.09% | 0.26087 | ||
Mongol Nekhmel | MNT | 2,450 | -50 | -2.00% | 2,450 | 2,450 | 2,400 | 124 | 5-Dec | 88.46% | 1.13043 | ||
Hotel Mongolia | MNT | 790 | 0 | 0.00% | 790 | 790 | 790 | 0 | 28-Nov | 0.215385 | |||
Darkhan Nekhii | MNT | 6,200 | 100 | 1.64% | 6,200 | 6,200 | 6,200 | 9 | 5-Dec | 26.53% | 0.254807 | ||
Nak Tulsh | MNT | 181 | 1 | 0.56% | 181 | 181 | 180 | 321230 | 5-Dec | -44.31% | -0.4858 | ||
Olloo | MNT | 142 | 3 | 2.16% | 142 | 142 | 142 | 20 | 5-Dec | -5.33% | -0.13415 | ||
Remikon | MNT | 192 | -3 | -1.54% | 195 | 200 | 180 | 79240 | 5-Dec | 166.67% | 1.74286 | ||
Sharyn Gol | MNT | 12,200 | 200 | 1.67% | 12,300 | 12,300 | 12,200 | 287 | 5-Dec | 16.19% | 0.161905 | ||
Shivee Ovoo | MNT | 16,001 | -499 | -3.02% | 16,001 | 16,001 | 16,001 | 1 | 5-Dec | 23.08% | 0.142929 | ||
Sor | MNT | 2,900 | -90 | -3.01% | 2,900 | 2,900 | 2,750 | 626 | 5-Dec | 286.67% | 2.625 | ||
Suu | MNT | 70,000 | 0 | 0.00% | 70,000 | 70,000 | 70,000 | 0 | 29-Nov | 233.54% | 2.3354 | ||
Tav | MNT | 31,000 | 0 | 0.00% | 30,000 | 31,000 | 30,000 | 0 | 2-Dec | ||||
Talkh Chikher | MNT | 10,800 | 800 | 8.00% | 10,800 | 10,800 | 10,800 | 37 | 5-Dec | 191.89% | 2.08571 | ||
Tavantolgoi | MNT | 10,750 | -150 | -1.38% | 10,900 | 10,900 | 10,750 | 1838 | 5-Dec | 86.63% | |||
State Dept Store | MNT | 480 | -18 | -3.61% | 463 | 480 | 463 | 745 | 5-Dec | 11.63% | 0.132075 | ||
Ulaanbaatar Hotel | MNT | 54,000 | 0 | 0.00% | 54,000 | 54,000 | 54,000 | 0 | 30-Nov | 96.36% | 1.03758 | ||
Mongol Savkhi | MNT | 2,100 | -100 | -4.55% | 2,100 | 2,100 | 2,100 | 70 | 5-Dec | 281.82% | 2.81818 | ||
Zoos Goyol | MNT | 820 | 0 | 0.00% | 800 | 820 | 800 | 0 | 2-Dec | 3.80% | 0.025 | ||
HKEx | Solartech Int'l | HKD | 0.191 | -0.005 | -2.55% | 0.196 | 0.198 | 0.19 | 37500000 | 5-Dec | -80.10% | -0.8051 | |
Winsway | HKD | 2.69 | -0.1 | -3.58% | 2.79 | 2.8 | 2.67 | 61411000 | 5-Dec | -40.14% | -0.32804 | ||
SouthGobi Resources | HKD | 54.7 | -1.25 | -2.23% | 55.6 | 55.6 | 54.6 | 15800 | 5-Dec | -45.03% | -0.40382 | ||
China Gold | HKD | 22 | -0.5 | -2.22% | 22.3 | 22.45 | 21.65 | 90500 | 5-Dec | -47.62% | -0.50783 | ||
CNNC Int'l | HKD | 2.03 | 0 | 0.00% | 2.05 | 2.07 | 2.03 | 286000 | 5-Dec | -76.67% | -0.76257 | ||
Real Gold Mining | HKD | 8.81 | 0 | 0.00% | 8.81 | 8.81 | 8.81 | 0 | 5-Dec | -34.28% | -0.39132 | ||
Mongolia Energy | HKD | 0.81 | -0.02 | -2.41% | 0.83 | 0.84 | 0.81 | 10660000 | 5-Dec | -65.09% | -0.67729 | ||
Zijin Mining | HKD | 3.5 | -0.04 | -1.13% | 3.53 | 3.56 | 3.45 | 23151142 | 5-Dec | -25.80% | -0.26616 | ||
Mongolia Inv Group | HKD | 0.042 | -0.001 | -2.33% | 0.043 | 0.043 | 0.041 | 4584000 | 5-Dec | -71.62% | -0.72549 | ||
North Asia Resources | HKD | 0.226 | 0.026 | 13.00% | 0.207 | 0.228 | 0.2 | 9870000 | 5-Dec | -75.16% | -0.83134 | ||
China Daye Non-Fer. | HKD | 0.475 | 0 | 0.00% | 0.49 | 0.49 | 0.47 | 5612000 | 5-Dec | -15.18% | -0.06863 | ||
Bestway Int'l | HKD | 0.075 | -0.01 | -11.76% | 0.075 | 0.082 | 0.072 | 960000 | 5-Dec | -46.81% | -0.4863 | ||
Asia Coal | HKD | 0.1 | 0 | 0.00% | 0.1 | 0.1 | 0.1 | 500000 | 5-Dec | -60.00% | -0.62264 | ||
Mongolian Mining | HKD | 6.2 | -0.05 | -0.80% | 6.35 | 6.35 | 6.02 | 4617439 | 5-Dec | -31.64% | -0.26973 | ||
SGX | LionGold | SGD | 0.855 | -0.01 | -1.16% | 0.865 | 0.865 | 0.855 | 9736000 | 5-Dec | 17.12% | 0.5 | |
LSE | Central Asia Metals | GBp | 56 | 0 | 0.00% | 56 | 56 | 56 | 0 | 5-Dec | -37.95% | -0.36182 | |
Petro Matad | GBp | 19.75 | -0.25 | -1.25% | 20 | 20 | 19.75 | 125782 | 5-Dec | -83.81% | -0.77809 | ||
Metal-Tech | GBp | 5 | 0 | 0.00% | 5 | 5 | 5 | 0 | 5-Dec | -67.74% | -0.6875 | ||
Origo Partners | GBp | 34.5 | 0 | 0.00% | 34.5 | 34.5 | 34.5 | 2869 | 5-Dec | -15.85% | -0.12102 | ||
Tembusu | GBp | 2.375 | 0 | 0.00% | 2.375 | 2.375 | 2.375 | 0 | 5-Dec | 0.00% | -0.13636 | ||
North America | Aberdeen Int'l | CAD | 0.62 | -0.04 | -6.06% | 0.66 | 0.66 | 0.62 | 476930 | 5-Dec | -23.33% | -0.02094 | |
Blue Zen Mem. Parks | CAD | 0.15 | 0 | 0.00% | 0.15 | 0.15 | 0.15 | 1300 | 5-Dec | ||||
Centerra Gold | CAD | 22.43 | -0.2 | -0.88% | 22.73 | 23.11 | 22.25 | 697918 | 5-Dec | 15.47% | 0.046119 | ||
China Gold | CAD | 2.83 | 0.01 | 0.35% | 2.79 | 2.98 | 2.73 | 126557 | 5-Dec | -47.88% | -0.50611 | ||
Denison Mines | CAD | 1.5 | 0.01 | 0.67% | 1.55 | 1.59 | 1.49 | 1523244 | 5-Dec | -56.01% | -0.5509 | ||
Denison Mines | USD | 1.47 | 0.04 | 2.80% | 1.48 | 1.57 | 1.46 | 1118576 | 5-Dec | -57.02% | -0.55856 | ||
East Asia Minerals | CAD | 0.78 | -0.02 | -2.50% | 0.79 | 0.808 | 0.76 | 241000 | 5-Dec | -90.30% | -0.89318 | ||
Entree Gold | USD | 1.27 | -0.08 | -5.93% | 1.32 | 1.33 | 1.27 | 99131 | 5-Dec | -63.29% | -0.56803 | ||
Erdene Resource | CAD | 0.41 | 0.015 | 3.80% | 0.42 | 0.42 | 0.41 | 153400 | 5-Dec | -66.94% | -0.51765 | ||
Entree Gold | CAD | 1.31 | -0.04 | -2.96% | 1.34 | 1.34 | 1.28 | 88575 | 5-Dec | -62.25% | -0.55593 | ||
Fortress Minerals | CAD | 4.25 | 0 | 0.00% | 4.03 | 4.25 | 4.03 | 0 | 30-Nov | -2.30% | 0.416667 | ||
Garrison Int'l | CAD | 0.02 | -0.005 | -20.00% | 0.02 | 0.02 | 0.02 | 25000 | 5-Dec | -77.78% | -0.66667 | ||
Gulfside Minerals | CAD | 0.07 | 0 | 0.00% | 0.07 | 0.07 | 0.07 | 13000 | 5-Dec | -26.32% | -0.33333 | ||
Green Tech Solutions | USD | 0.06 | -0.01 | -14.29% | 0.07 | 0.07 | 0.05 | 398406 | 5-Dec | ||||
Ivanhoe Energy | CAD | 0.91 | -0.02 | -2.15% | 0.95 | 0.98 | 0.9 | 573248 | 5-Dec | -66.54% | -0.61925 | ||
Ivanhoe Energy | USD | 0.92 | 0.01 | 1.10% | 0.96 | 0.97 | 0.88 | 1701380 | 5-Dec | -66.18% | -0.61181 | ||
Ivanhoe Mines | CAD | 21.6 | 2.67 | 14.10% | 21 | 22.03 | 20.88 | 1605243 | 5-Dec | -6.09% | -0.15369 | ||
Ivanhoe Mines | USD | 21.26 | 1.08 | 5.35% | 20.86 | 21.72 | 20.6 | 2960948 | 5-Dec | -7.24% | -0.16379 | ||
Kincora Copper | CAD | 0.32 | 0.035 | 12.28% | 0.315 | 0.32 | 0.3 | 2865536 | 5-Dec | 18.52% | 1.13333 | ||
Khan Resources | CAD | 0.24 | 0 | 0.00% | 0.235 | 0.24 | 0.235 | 4000 | 5-Dec | -50.00% | -0.44186 | ||
Long Harbour | CAD | 0.165 | 0 | 0.00% | 0.165 | 0.165 | 0.165 | 0 | 28-Nov | ||||
Lucky Strike | CAD | 0.385 | -0.015 | -3.75% | 0.4 | 0.4 | 0.36 | 80900 | 5-Dec | -73.45% | -0.57222 | ||
Lucky Strike | USD | 0.3677 | -0.0323 | -8.08% | 0.3677 | 0.3677 | 0.3677 | 50000 | 5-Dec | -74.08% | -0.58192 | ||
Meritus Minerals | CAD | 0.035 | 0 | 0.00% | 0.035 | 0.04 | 0.035 | 0 | 2-Dec | -82.50% | -0.8 | ||
Manas Petroleum | USD | 0.165 | 0 | 0.00% | 0.165 | 0.1675 | 0.165 | 42200 | 5-Dec | -72.50% | -0.70536 | ||
Mongolia Growth Grp | USD | 4.263 | 0.208 | 5.13% | 4.122 | 4.2865 | 4.121 | 32100 | 5-Dec | ||||
Blue Wolf Mongolia | USD | 9.55 | 0 | 0.00% | 9.51 | 9.55 | 9.51 | 150500 | 5-Dec | ||||
Blue Wolf Mongolia | USD | 10.28 | 0 | 0.00% | 10.15 | 10.28 | 10.15 | 0 | 2-Dec | ||||
Manas Petroleum | CAD | 0.16 | 0 | 0.00% | 0.16 | 0.16 | 0.16 | 0 | 10-Nov | ||||
Prophecy Coal | CAD | 0.48 | 0.015 | 3.23% | 0.47 | 0.49 | 0.465 | 250144 | 5-Dec | -44.49% | -0.41563 | ||
Prophecy Coal | USD | 0.467 | 0.016 | 3.55% | 0.469 | 0.471 | 0.458 | 80875 | 5-Dec | -47.05% | -0.43679 | ||
Puget Ventures | CAD | 0.49 | 0 | 0.00% | 0 | 17-Sep | |||||||
SouthGobi Resources | CAD | 7.14 | -0.14 | -1.92% | 6.68 | 7.24 | 6.68 | 48315 | 5-Dec | -41.38% | -0.40992 | ||
Solomon Resources | CAD | 0.075 | 0.01 | 15.38% | 0.065 | 0.075 | 0.065 | 152322 | 5-Dec | -65.12% | -0.55882 | ||
Wedge Energy | CAD | 0.015 | 0 | 0.00% | 0 | 3-Aug | |||||||
Mongolia Growth Grp | CAD | 4.35 | 0.21 | 5.07% | 4.19 | 4.35 | 4.18 | 31992 | 5-Dec |
---
"Mogi" Munkhdul Badral
Senior Client Manager / Executive Director
CPS International LLC
Telephone/Fax: +976-11-321326
Mobile: +976-99996779
Email: mogi@cpsinternational.mn
P Please consider the environment before printing a copy of this email.
Central Tower · 12th Floor · Left Wing · 2 Sukhbaatar Square
Sukhbaatar District 8 · Ulaanbaatar 14200 · Mongolia
CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.
Disclosure/Disclaimer
CPS Securities, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly from client transactions mentioned in correspondence from CPS International.
CPS International advise this email contains general information only and does not include advice. In preparing this communication, CPS International did not take into account the investment objectives, financial situation and particular needs of any person. As with any speculative mining company there are significant risks.
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