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 +976-9999-6779.
Prophecy Provides Update on Ulaan Ovoo Mine Preparation, Mongolia
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2010) - Prophecy Resource Corp. (TSX VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) Referring to the Mine Services Agreement between itself and Leighton Asia Limited, Prophecy announced today that Leighton has established the required infrastructure and deployed all necessary equipment and manpower (on schedule) to execute long term mining operations at Prophecy's 100% owned Ulaan Ovoo Coal Project, Northern Mongolia.
Ulaan Ovoo site establishment commenced on 13 July 2010 to ensure that the commissioning of the 250,000 tonnes starter pit will take place as planned as of September 2010 with 57,500 tonnes in the first month ramping up to 100,000 tonnes per month by December 2010.
Operation Statistics: To date Leighton has removed and stockpiled approximately 30,696 BCM of topsoil and 209,095 BCM of overburden which is approximately some 28,089 BCM of overburden ahead of schedule in preparation for mining.
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Bridge Construction: The design of the concrete bridges that will replace all existing wooden bridges along the haul road has been completed and the foundation slabs are currently being poured. Completion of the bridge upgrade by the end of September will enable the trucking of coal from the mine site to Nauski.
Zeltura Border Opening: Prophecy has been informed that Russian and Mongolian governments have agreed to open the Zeltura border crossing on a permanent basis. Zeltura port is 15km by road from Ulaan Ovoo mine site and could present significant reduction on the transportation cost. The exact timing of the border opening is not known at this time.
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General Mining Corporation Investor Presentation
August 26 --
Highlights:
Mongolia
· Licenses over >2000km2 of evaporate geology prospective for potash & lithium
· Potash – high margin commodity essential for agriculture and China as the major importer
· Strategic Alliance with Galaxy Resources Ltd to identify and develop lithium projects in Mongolia and Kazakhstan.
Western Australia
· Large exploration targets at Shoemaker prospective for BIF & DSO iron ore and manganese mineralisation
· Large untested geophysical targets in WA prospective for iron oxide copper gold (IOCG) or carbonatite related mineralization
Stewart Group gets fired up in Mongolia
August 25, London (Commodities Now) Stewart Group, the international inspection, analysis and assay group has expanded its operations in Mongolia, with a state-of-the-art expansion at its laboratory in the heart of the country.
A new fire assay laboratory has been added to the Stewart Mongolia LLC facility in Ulaanbaatar, which can now provide a significantly broader range of services to the key mining regions in the country. The expansion is the second major development at the Mongolia facility in 12 months, after it became the first internationally owned laboratory in the country to achieve ISO/IEC 17025:2009 accreditation.
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In addition to analysis of gold, silver and platinum group metals, the Mongolian site can conduct multi-elemental analysis, coal and solid fuel analysis, trace element analysis by ICPAES, and sample preparation of solid fuel and geochemical materials.
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PM leaves on tour of Gobi provinces
August 25 (news.mn) Prime Minister S.Batbold yesterday left Ulaanbaatar on a tour of the Gobi provinces that will end on August 28. According to D.Nyamjav, director of the Government Office, the Prime Minister will visit Dundgobi, Dornogobi and Umnugobi provinces.
He goes to Dornogobi first, where he will visit the vocational training and service center, and then the Unur Bayan organization which works in greenhouse cultivation and dairy farming. Its scale of operation is not big, but it has been very successful. Batbold will also meet citizens and business representatives of the province.
On the second day, he will go to Tavantolgoi in Umnugobi. He will see the exploration operations of Areva of France before going to the oil refinery at Zuunbayartsagaan. Then the Prime Minister will visit Oyutolgoi to see the progress of the project. He will also stop at operations of Erdenes MGL Company and Tavantolgoi.
The Government will meet in Umnugobi province’s Bayandalai soum on August 27, at a place called Gashuun Khooloi. The spot was chosen as it is experiencing extreme desertification and the Government will focus on climate change and environmental damage.
Batbold will also visit Gashuusukhait, the port through which coal from Oyutolgoi and Tavantolgoi goes to China. The port daily deals with 600 trucks, each carrying 70-80 tons of coal, and needs more space and manpower.
International checkpoint opens on Mongolia-China border
August 26 (Voice of Russia) Mongolia has for the first time allowed foreign tourists cross its border to get to China. An international checkpoint on the Mongolian-Chinese border near Mongolian province of Khovd has been made available for all foreign citizens. Mongolia made the decision after receiving a request from the administration of the Altay region in Siberia to make a popular “Altay-golden mountains” route passing through Russia, Mongolia, China and Kazakhstan more accessible.
Foreign investors keen on infrastructure projects
August 26 (news.mn) According to officials of the Ministry of Road, Transportation, Construction, and Urban Development, several foreign companies have shown interest in investing in infrastructure-related projects. The recently passed Concession Law applies to 99 projects, of which 72 are under the Ministry. Most of the proposals so far received relate to road and apartment construction and have come from companies in Russia, China, Germany and Canada.
The officials are optimistic that preliminary work on the railway would begin in two months and that technical and economical assessment of projects to be included in the Sainshand industrial complex would also be over before long. Both have already attracted considerable interest from foreign companies.
ASIA FOUNDATION TO HELP SLACKEN CENTRALIZATION
August 25, Ulaanbaatar, Mongolia, /MONTSAME/ Head of the Sub-committee on Local Governance at the State Great Khural D.Zagdjav received Wednesday a delegation led by Mrs. Asha Gosh, the Assistant Director of Local Governance Programs for the Asia Foundation, in the Government House.
The sides exchanges views on slackening centralization at governance and strengthening the best forms of good governance. D.Zagdjav thanked the Asia Foundation (AF) for conducting a research and examination in important matters related to purposes and activities of the sub-committee. He said Mongolia set up a working group to draw up draft laws on local budget and on local taxes.
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MONGOLIA-KOREA CONSULAR CONSULTATIVE MEETING HELD
August 25, Ulaanbaatar, Mongolia, /MONTSAME/ The consular consultative meeting between the Ministries of Foreign Affairs of Mongolia and Republic of Korea ran Wednesday in the Mongolian Ministry.
Negotiations have been held between D.Gankhuyag, a director of the Consular Department of the Foreign Ministry, and Peg Ju Heong, a director of S.Korean Ministry's Consular Department.
The Mongolian side expressed its positions and put forward proposals on implementation of previously discussed issues, on realization of contracts and agreements on consular ties and on facilitating visiting terms of peoples of the two countries.
The Korean side raised issues of protecting civil interests of the Koreans in Mongolia, providing the Mongolian citizens married with the Koreans with information, controlling over certificates of the Mongolian students studying in Korea, updating the agreement on using an airspace and of prolonging for the Koreans visa terms of Mongolia.
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Australia
| Close: Shares of Mongolia Related ASX Listed Companies, August 26, 2010 | ||||||||
| 0.895 | -0.030 | 0.895 | 0.915 | 0.905 | 0.930 | 0.890 | 135,548 | |
| 0.014 | 0.001 | 0.013 | 0.014 | 0.014 | 0.014 | 0.014 | 1,235,000 | |
| 0.185 | 0.000 | 0.185 | 0.195 | 0.185 | 0.185 | 0.185 | 72,600 | |
| 0.070 | 0.000 | 0.070 | 0.072 | 0.071 | 0.072 | 0.070 | 344,025 | |
| 0.140 | 0.015 | 0.130 | 0.145 | 0.120 | 0.140 | 0.115 | 50,000 | |
| 30.000 | -0.160 | 29.950 | 30.100 | 30.310 | 30.400 | 29.750 | 1,013,364 | |
| 69.600 | 0.150 | 69.500 | 69.640 | 69.500 | 70.700 | 68.720 | 3,793,997 | |
| 37.390 | -0.050 | 37.370 | 37.400 | 37.250 | 37.390 | 37.000 | 20,384,936 | |
An * next to the security code indicates there has been an announcement today relating to that security. Click on the * to view the list of today's announcements.
Source: asx.com.au
Strong earnings buoy shares
August 26 (AAP) Close Shares rose today, snapping a four-day losing spell, buoyed by a number of strong earnings results and as investors shopped around for bargains among oversold stocks.
At the close, the benchmark S&P/ASX200 Index was up 35.9 points, or 0.8 per cent, at 4356, while the broader All Ordinaries Index rose 32.8 points, or 0.8 per cent, to 4389.4.
Among the main sectors, financials rose 1.2 per cent, energy gained 1.3 per cent, while materials underperformed, inching up just 0.2 per cent.
What you need to know:
· The dollar inches up to 88.77 US cents
· Europe stocks open strongly, FTSE up 0.7%
· Asian stocks edge up as gloom lifts
· Gold hits 8-week high at $US1241
· Oil extends gains to near $US73
· Dow futures are 13 points higher at 10,060
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BHP Billiton lost 5 cents to $37.39, and Rio Tinto added 15 cents to $69.60. But Fortescue Metals Group surged 16 cents or 3.7 per cent to $4.50 after posting a 14 per cent rise in annual net profit on the back of higher production and sales prices for the steelmaking commodity.
Major gold stocks advanced, with Lihir Gold firming 7 cents, or 1.6 per cent to $4.47 and Newcrest Mining jumping 50 cents, or 1.4 per cent, to $35.99.
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Preliminary national turnover reached two billion shares, worth $7.3 billion, with 564 stocks trading up, 461 down and 347 unchanged.
Global
Asian Stocks Rise on Valuations, Profits; Woolworths Surges
Aug. 26 (Bloomberg) -- Asian stocks rose, lifting the MSCI Asia Pacific Index from a one-month low, amid speculation declines this month have made shares cheap relative to earnings.
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The MSCI Asia Pacific Index gained 0.5 percent to 116.49 as of 4:17 p.m. in Tokyo. The index slumped 5.3 percent from a three-month high on Aug. 6 to settle yesterday at its lowest level since July 22. Companies in the gauge, which has lost 3.3 percent this year on concern economies in the U.S., Europe and China will falter, are valued at an average 13.5 times estimated profit, the cheapest since December 2008.
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Japan’s Nikkei 225 Stock Average rose 0.7 percent, the first gain in five days, as a weaker yen boosted exporters. China’s Shanghai Composite Index gained 0.3 percent, while Australia’s S&P/ASX 200 Index climbed 0.8 percent. New Zealand’s NZX 50 Index increased 0.4 percent.
U.S. Reports
Futures on the Standard & Poor’s 500 Index increased 0.1 percent. The gauge rose 0.3 percent yesterday after slumping as much as 1.1 percent, amid speculation declines in equities had overshot the potential damage from a slowdown in the economy.
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Profit Results
Fortescue Metals Group Ltd., Australia’s third-biggest producer of iron ore, advanced 3.7 percent to A$4.50 after full- year profit rose 14 percent as production gained.
Virgin Blue Holdings Ltd. surged 13 percent to 31.5 Australian cents after the airline swung to a full-year profit, and after agreeing to cooperate with Etihad Airways PJSC on flights to Europe. In Wellington, Air New Zealand gained 4.1 percent to NZ$1.26 after the nation’s biggest airline said full- year profit rose as it cut costs in response to waning demand from tourists and business travelers.
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A government report tomorrow is forecast to show the U.S. economy expanded at a 1.4 percent pace in the second quarter, compared with an earlier estimate of 2.4 percent, according to a Bloomberg survey before the Commerce Department report.
“Worries about the economic recovery still persist,” said Masaru Hamasaki, chief strategist in Tokyo at Toyota Asset Management Co., which oversees about $15 billion. “Stocks declined so sharply recently, so they could rebound. People still don’t know whether the outlook on the economy is too pessimistic.”
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Roubini Says Third Quarter Growth in U.S. to Be ‘Well Below’ 1%
Aug. 25 (Bloomberg) -- Nouriel Roubini, the New York University economist who predicted the global financial crisis, said U.S. growth will be “well below” 1 percent in the third quarter and put the odds of a renewed recession at 40 percent.
Roubini, chairman of Roubini Global Economics LLC, said his forecast assumes the government will lower its estimate for growth in the second quarter to an annual rate of 1.2 percent “at best.”
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Rio CEO Albanese Says Expansion, Not M&A, His ‘First Priority’
Aug. 26 (Bloomberg) -- Rio Tinto Group, the world’s third- largest mining company, will give priority to boosting output by expanding its own operations rather than through acquisitions, Chief Executive Officer Tom Albanese said.
“I’d like to see higher copper production, that’s why we are investing with” Ivanhoe Mines Ltd. in the Oyu Tolgoi project in Mongolia, Albanese today said in an interview in Brisbane. “We have other projects around the world. If managers can develop an attractive investment proposition to expand in this market, we’ll certainly look at it. Our first priority is organic growth.”
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Sinochem, Sinofert ‘Closely Watching’ BHP Potash Bid
Aug. 26 (Bloomberg) -- Sinochem Group, China’s largest fertilizer trader, and unit Sinofert Holdings Ltd. are “closely watching” BHP Billiton Ltd.’s $40 billion bid for Potash Corp. of Saskatchewan Inc., an executive said.
BHP’s bid for Potash Corp. has a “significant impact” on Sinofert, Chief Executive Officer Feng Zhibin told reporters in Hong Kong today. Feng, also a vice president of Sinochem, declined to comment on whether the Chinese companies are considering a counter bid.
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“Securing coal resources and building nitrogen fertilizer capacity in coal-rich regions is a strategic layout for the company,” Feng said. “We are doing initial work in China’s western provinces and Mongolia and there are some target projects for coal resources.”
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Misc
Amazon Kindle 3rd Gen is the fastest selling ever – starts shipping to Mongolia
August 25 (DeviceMag) ---
The Kindle is now available in 125 different countries, including Mongolia as of today.
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"Mogi" Munkhdul Badral
Executive Director
CPS International
Email: mogi@cpsinternational.mn
Mobile: +976-99996779
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 +976-9999-6779.
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