Thursday, April 29, 2010

Mogi's Wednesday, April 28, 2010 Morning News

Mongolian companies form Consortium to bid for Tavan Tolgoi

April 27 (MongolianPortfolio) Mongolian companies formed a consortium to bid for Tavan Tolgoi. They have called it Mongol-999 and said any company depositing 1 million tugriks can join in the consortium. The biggest companies to join this consortium is "Max group", Jiguur Grand", and "Tavan Tolgoi Trans".

During the press conference their representatives claimed that PM S.Batbold has expressed his support for the group.

(details will be delivered as it's known)

MSE Top-20 Index down by 150.6 points

April 27 (MongolianPortfolio) Today stocks of 25 companies worth 56 million tugriks have been traded on MSE and Top-20 Index fell to 10214.5 by 150.6 points.

The five most traded stocks were: Online portal website worth 11.5 million tugriks (up by 4%), Khukh Gan 10.7 million tugriks (up by 2.78%), cashmere maker Gobi 8.7 million tugriks (down by 3.18%), alcohol and beverages APU 5.8 million tugriks (down by -3.65%), coal miner Tavan Tolgoi 3.6 million tugriks (no change).

Mongolia Suspends Issuing Mining Permits on Exploration Failure

April 27 (Bloomberg) -- Mongolia, seeking $25 billion to develop metal and coal resources, suspended the issuance of mining licenses and barred the practice of transferring the permits as companies fail to explore for minerals.

Mongolia says no more mining permits until new law

TORONTO, April 27 (Reuters) - Mongolia's president has ordered a halt to the issuance and transfer of mineral exploration licenses until the government can enact a stricter law on mining investment.

Polo's possible offer values Caledon at 129 mln stg

BANGALORE, April 27 (Reuters) - Australian coking coal producer Caledon Resources' (CDN.L) largest shareholder Polo Resources Ltd (POLO.L) made a possible offer for Caledon, which valued the company at about 129 million pounds ($199.3 million), to expand its coal-focused operations.

Mongolia Approves Meritus Acquisition of Gold Property from Troy Resources

Apr 26, 2010 ( via COMTEX) -- Vancouver, British Columbia: Meritus Minerals Ltd (Meritus),(TSX- .MER) is pleased to announce that the Mongolian Government has approved the acquisition of Troy Resources Ltd's. (Troy),(TSX- TRY) subsidiary in Mongolia by Meritus as stated on 20/1/2010.

As required by law, the Mongolian Government has: i) Approved the purchase of Troy's shares in Troy Mongolian Alt Resources LLC (TMAR) by Meritus, ii) Approved the name change of TMAR to Meritus MGL LLC

Support for Ivanhoe Mines' Shareholders' Rights Plan Recommended by Two Leading Independent Proxy Advisory Firms

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2010) - Ivanhoe Mines Ltd. announced today that RiskMetrics Group and Glass Lewis & Co., two leading, independent proxy advisory firms, have recommended that shareholders vote in favour of the resolution to approve Ivanhoe Mines' amended and restated shareholders' rights plan to be considered at the company's annual general and special meeting of shareholders to be held in Vancouver May 7, 2010.

Mongolian president wishes to bring ties with China to new height

ULAN BATOR, April 27 (Xinhua) -- Mongolian President Tsakhia Elbegdorj said that he wishes to bring his country's relations with China to a new height in a comprehensive way.

Elbegdorj will pay a visit to China from April 28 to May 3 at the invitation of Chinese President Hu Jintao.

Profile: Mongolian President Tsakhia Elbegdorj

BEIJING, April 27 (Xinhua) --

Anti-protectionism conference kicks off in Istanbul

ISTANBUL, April 27 (Xinhua) --
Regarding significant changes in competition laws over the past decade, the report noted that all of the listed countries, except Mongolia and Poland, benefited from increased penalties, while 35 of them had changed laws to allow for greater investigative powers and greater leniency.

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