Monday, June 7, 2010

Mogi's Monday, June 7, 2010 News

Prophecy Completes Transportation Study on Its Ulaan Ovoo Coal Project
and Tenders for Trucking Contracts From Mine Site to Railroad Offload

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2010) - Prophecy
Resource Corp. reports that it has received an independent
transportation Study for trucking of coal from its proposed Ulaan Ovoo
mining operations to Mongolia's Sukhbaatar Railroad Station
(Trans-Mongolian Railway) to fulfill secured capacity to transport a
minimum of 1.5 million tonnes of coal annually to Russia and/or China.
... Coal produced at the proposed Ulaan Ovoo mining operations will be
hauled by trucks from Ulaan Ovoo mine site via public road to the
Sukhbaatar Railroad station. The coal will then be transported to the
eastern seaboard port of Vladivostock via Trans-Siberian Railway.
Vladivostock is a leading coal port to the world's largest coal
importing nations, Japan South Korea and Taiwan. Coal prices
comparable to Ulaan Ovoo's quality have been exceeding US$ 85 per
tonne at Vladivostock.

The independent transportation study was prepared by RandTip of South
Africa. RandTip specializes in the short and long distance hauling of
coal for clients such as X-Strata, Amcoal and Eskom(SA).

Based on a 50,000 tonne per month throughput (600,000 tonnes a year),
the optimal cost per tonne is estimated to be $11.91/t based on 17
haul trucks with 60 tonne pay load and 2 cycles per day.

Based on a 175,000 tonne per month throughput (2,100,000 tonnes per
year), the optimal cost per tonne is estimated to be $10.65/t based on
58 haul trucks with 60 tonne pay load and 2 cycles per day.

Entrée-PacMag Schemes of Arrangement Overwhelmingly Supported

VANCOUVER, June 4 /PRNewswire-FirstCall/ --
Entrée's merger with PacMag will bring into its portfolio several new
properties in the United States and Australia. These include:

IMF representative meets Altankhuyag, Lundeejantsan, to warn against
budget revision

June 4 ( IMF representative P.Ramlogan yesterday met with
First Deputy Premier and Democratic Party head N.Altankhuag and the
leader of Mongolian People"s Revolutionary Party group in Parliament,
D.Lundeejantsan. He told both leaders that the IMF could not complete
its mandatory annual review of the Mongolian economy until the fate of
the proposed fiscal stability law was determined in Parliament.

Wen wants feasibility study on free trade area to begin

June 4 ( During his talks with Mongolian Prime Minister
S.Batbold, Chinese Premier Wen Jiabao called for a feasibility study
on a China-Mongolia free trade area, and the adoption of trade and
economic cooperation in the development of mineral and energy
resources. Wen, a former geologist, held talks with to promote
cooperation in mineral resources development, infrastructure
construction such as transportation development, finance, energy, and
environmental protection.

Petro Matad official wants companies to ponder before seeking IPOs

June 4 ( Petro Matad LLC Executive Director T.Amarzul thinks
the chances of Mongolian companies getting listed on international
stock exchanges are quite good, but she has told The Mongolian Mining
Journal that a company must be clear why it wants to go for an IPO, as
there are many other ways of attracting investment. "You can expand
and go global, and you can stay put where you are," she says.

SPC announces guidelines for those bidding to restructure stock exchange

June 4 ( --
All interested in participating in the bidding must submit their
request before 4 pm on June 11. More details are available at the SPC

Move One Expanding Capabilities in Mongolia

(I-Newswire) June 4, 2010 - Budapest, Hungary: Move One is present in
some of the world's most challenging locations, with offices
throughout Europe, Asia, the Middle East and Central Asia. They pride
themselves on their experts and on-the-ground knowledge that has come
from years of experience.
Move One has been operating in Mongolia for several years and is now
expanding current operations there as a result of the announcement of
several new large-scale mining projects. The latest is the development
of the largest untapped copper and gold deposits in the world. Move
One is undertaking an investment plan to provide logistics services
for companies involved in this mammoth project. The project has
attracted huge foreign investment worth USD 7.3 billion, and is slated
to start later this year with production expected to commence in
mid-2013. It is estimated that this venture may increase Mongolia's
GDP by as much as 30 percent, with a 10 percent increase in

Global but Local News

Xstrata 'Optimistic' Australian Tax Will Be Revised

June 6 (Bloomberg) -- Xstrata Plc, which has shelved spending on A$6.6
billion ($5.6 billion) of Australian projects because of a planned
mining tax, said it's "optimistic" the levy will be changed after
future talks with the government.

Markets rocked as jobs data disappoint

June 4 (FT) Stocks fell sharply on Friday as a report showing that the
US added just 41,000 private sector jobs in May shook confidence in a
sustained economic recovery.
The S&P 500 fell 3.4 per cent – its worst decline in more than two weeks –

Wealthy Investors Betting on Property, Stocks, Barclays Says

June 2 (Bloomberg) -- Wealthy investors globally are avoiding
derivatives and hedge funds and turning to property and stocks
following the global financial crisis and economic downturn, Barclays
Wealth said, citing a surve
Almost 90 percent of the surveyed investors in Singapore said the
property market is likely to perform well in the next 12 months, while
68 percent of the Australian respondents said they are positive on
equities, according to the survey.

AgBank IPO draft forecasts '10 net profit up 28 percent

June 4 (Reuters) - Agricultural Bank of China ABC.UL, preparing for
the world's largest-ever IPO, unveiled key financial figures on
Friday, detailing plans to issue up to 47.6 billion new shares and
forecasting a sharp rise in yearly net profit.
The bank plans to list in Hong Kong and Shanghai in mid July.

King and Hochtief settle Leighton dispute

June 5 (Business Day, Australia) AFTER a week of escalating tensions,
Leighton boss Wal King and 55 per cent shareholder Hochtief have
kissed and made up and agreed to take the thorny issue of succession
off the agenda at tomorrow's board meeting.

U.S.'s $13 Trillion Debt Poised to Overtake GDP: Chart of Day

June 4 (Bloomberg) -- President Barack Obama is poised to increase the
U.S. debt to a level that exceeds the value of the nation's annual
economic output, a step toward what Bill Gross called a "debt super

Two APU vodkas win medal at international show

June 4 ( Two brands of vodka from APU won recognition at last
month's International Spirits Challenge – 2010 show in London. Soyombo
was awarded the gold medal at the World Beverage Competition for
"reminding the world of Mongolian history", and the Yorool brand won
the silver. Brand products of over 1,000 companies from all over the
world participated in the competition.

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