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.
MMC Prospectus Out
September 28 (Mogi) Mongolian Mining Corporation (MMC) releases its highly anticipated prospectus today in its new website, www.mmc.mn.
A quick look inside: Applications lists opens at 11:45am Monday, October 4 and closes that day at 12pm, according to the expected schedule inside the prospectus. Prices are determined the next day October 5th. Electronic applications closes 11:30am, October 4.
Without trying to summarize it, here’s the link to the 589 page prospectus. A Chinese version is here.
A more detailed article will be distributed as it is encountered.
Ivanhoe Mines Ltd.: New Drill Hole at Oyu Tolgoi Intercepts 938 Metres of Near-Continuous Copper/Gold Mineralization Between Heruga Deposit and Southern Oyu Deposits
Intercepts of up to 10 grams of gold/tonne near bottom of hole in discovery area now known as Heruga North
ULAANBAATAR, MONGOLIA, Sep. 28, 2010 (Marketwire) -- Robert Friedland, Executive Chairman of Ivanhoe Mines Ltd. (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN), and Richard Gosse, Vice-President, Exploration, announced today that the company has intercepted almost one kilometre of near-continuous gold and copper mineralization in drill hole OTD1510 at Oyu Tolgoi, making it the longest exploration drill intercept of gold and copper mineralization recorded since Ivanhoe began drilling at the Oyu Tolgoi Project in 2001.
Hole OTD1510 intercepted 112 metres grading 1.36 grams of gold per tonne (g/t) and 0.34% copper, with a copper equivalent grade of 1.21% (CuEq), at a down-hole depth of between 2,286 and 2,398 metres. The intercept included 20 metres grading 3.78 g/t gold and 0.64% copper, with a CuEq grade of 3.06%, at a down-hole depth of between 2376 and 2396 metres, and six metres of 8.4 g/t gold and 0.66% copper, with a CuEq grade of 6.05%, at a down-hole depth of between 2388 and 2394 metres.
Individual two-metre samples near the bottom of hole OTD1510 returned gold assays of approximately 10 grams per tonne - among the highest gold grades ever drilled at Oyu Tolgoi.
Over the entire 938-metre intercept, OTD1510 averaged 0.42 g/t gold and 0.46% copper, with a CuEq grade of 0.76%, at a down-hole depth of between 1460 and 2398 metres (true depth below surface of between approximately 1200 and 1885 metres).
"To intercept almost one kilometre of copper and gold mineralization in a new drill hole is a remarkable development, considering that we already have drilled more than 1,650 holes totalling almost 900 kilometres at the project during the past 10 years," Mr. Friedland said.
"Drill hole OTD1510 extends the Oyu Tolgoi mineralized system and demonstrates yet again the incredible potential to significantly add to the presently defined copper and gold resources. While Oyu Tolgoi already is one of the world's largest deposits of gold and copper, hole OTD1510 is consistent with our long-held view that the Oyu Tolgoi mineralized system contains significantly more gold and copper than we have delineated to date under NI 43-101 standards. We are particularly pleased to see this outstanding intersection in hole OTD1510, right where the advanced technology, induced-polarization section indicated it would be found."
Visit www.ivanhoemines.com to see maps and sections of the Oyu Tolgoi discovery.
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Voyager Resources Share And Volume Spike Prompts ASX Please Explain
September 28 (Proactive Investors Australia) Voyager Resources (ASX: VOR) shares hit an intra-day high today of $0.023, up from $0.018 yesterday prompting an ASX 'please explain' if any material information has not been released to the market.
Voyager said it is not aware of any information to increase investor interest in the stock.
Of interest though, the company does mention a positive media report in The Australian newspaper of company's exploring in Mongolia, of which Voyager is one.
Voyager was the third most actively traded stock on the ASX today, with 82 million shares trading hands.
(CPS Securities was Lead Manager and Underwriter in Voyager’s past fundraisings. VOR shares closed 0.3c higher or 16.67% today at A$0.021c. VOR actually went on to hit an intra-day high of 2.4c today. VOR up 50% from last week. Link to VOR share chart)
2nd Annual Mongolian Capital Markets Conference
The London Stock Exchange and Renaissance Capital are pleased to invite you to the 2nd Annual Mongolian Capital Markets conference which will take place in Ulaanbaatar on 29 September 2010.
Interest in new investment opportunities in Mongolia continues to increase among London’s investors as Mongolia’s profile as a resource market has grown.
The purpose of the conference is to establish the case for listings of Mongolian companies on domestic and international markets. Speakers will include Mongolian government officials, Mongolian Stock Exchange representatives, investment banks, investors and advisors.
The conference will focus on the following topics:
• Mongolian Investment Climate
• Future of Trading on the Mongolian Stock Exchange
• Why Corporate Governance Matters
• Capital Markets Strategies
• Best Practices in Investor Communications
Link to site
Link to agenda
ADVERTISEMENT FOR PROJECT ADVISORY CONSORTIUMS (INCLUDING INTERNATIONAL LEGAL COUNSEL AND LOCAL ADVISOR) FOR “SAINSHAND INDUSTRIAL COMPLEX” PROJECT
September 28 (Montsame) --
1. The National Development and Innovation Committee of Mongolia (“NDIC”) is accepting proposals from project advisory consortiums in connection with the greenfield development and construction of certain industrial and infrastructure projects (the “Projects”) in Mongolia. The applicant consortium should include, at a minimum, an international legal advisor and a local Mongolian consulting or advisory firm, and may also include additional financial or technical advisory groups.
2. The anticipated scope of work for the Project Advisory Consortium will include designing the overall commercial, ownership and legal structure of the Projects. The advisory consortium will work with the selected Program Manager in developing the initial planning for the Projects (leading to a Master Plan), and identify any additionally necessary feasibility studies for individual process plants. The advisory consortium will take the lead in developing the overall Projects structure with a view towards maximizing Mongolian participation in the Projects.
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ABOUT DRAFT LAWS AND RESOLUTIONS TO BE DISCUSSED BY AUTUMN SESSION
September 28, Ulaanbaatar, Mongolia, /MONTSAME/ The State Great Khural plans to discuss these draft laws and resolutions at its upcoming autumn session:
- A draft law on supporting employment (new wording)
- A draft law on employment of Mongolian citizens abroad and foreign people in Mongolia (new wording)
- Draft amendments to the laws on the State Great Khural of Mongolia and on regime of parliamentary session
- A draft law on police organizations (new wording)
- A draft law on health (new wording)
- A draft law on health insurance for citizens (new wording)
- A draft law on water supply and usage of sewers of settlements and cities (new wording)
- A draft law on election of the State Great Khural of Mongolia (new wording)
- A draft law on ensuring gender equality
- A draft law on right of gaining information and freedom
- A draft law on social welfare (new wording)
- A draft law on the budget of Mongolia of 2011
- A draft law on the budget of the Human Development Fund of 2011
- A draft law on the budget of the social insurance fund of 2011
- A draft parliamentary resolution on approval of basic directive of state policy of currency of 2011
- A draft law on budget (new wording)
- A draft law on pasture
- A draft law on legal status of Ulaanbaatar city (new wording)
- A draft law on rule of amending the Constitution of Mongolia
- A draft law on credit information
- A draft criminal law
- A draft law on casino
- A draft law on state supreme titles, medals and orders
- A draft law on implementation of foreign investments to the strategic-important entities for ensuring national security
Erdenes MGL CEO B. Enebish Gives Interview
September 27 (Uls Turiin Toim via news.gogo.mn) ---
Link to article (in Mongolian. I apologize to my English readers, couldn’t find a translation)
Tavan Tolgoi Bidders Announced
September 24 (UB Post) On September 23, the Government of Mongolia announced nine first stage participants of the Tavan Tolgoi bid, a contract developer of coal extraction at the world’s largest untapped high-grade coking coal mine. Among the list, there is no any of the previously been talked world giants, local media reported. Earlier, world giants of U.S. Peabody, India’s Jindal Steel, Japan’s Mitsui, China’s Shinhua, and Russian Railway were being reported as interested parties.
Even, Mongolia’s youngest national consortium, Mongol-999, did not submit proposal.
Following is a list of first stage participants. For the second stage, candidates will be invited to submit second round of proposals to the Government of Mongolia.
* JMSC LLC (Mongolia)
* Erdos investment holding group (China)
* Kores Consortium (South Korea)
* Shaanxi Coal and Chimecal Industry Group (China)
* Tavan Tolgoi Trans LLC (Mongolia)
* Macmahon Holding Limited (Australia)
* Kanu LLC (Mongolia-Canada)
* BBM Operta group (Germany)
* Leighton Asia Limited (Australia)
D. DEMBEREL MEETS DELEGATIONS OF JAPAN'S CORPORATIONS
Ulaanbaatar, Mongolia, /MONTSAME/ Parliament Speaker D. Demberel received Tuesday delegations of Japan's "Marubeni" and "Toyo Engineering" corporations.
The visitors have said they signed Tuesday a major contract with "Mongolsekiu" company on implementation of a project to construct an oil processing factory in Darkhan-Uul aimag in accordance with the line of the Mongolia-Japan cooperation.
The Speaker has congratulated them for inking the contract. "Mongolia is not very rich in oil but its some resource has been detected," Mr. Demberel said adding that he had visited recently Tamsag, Dordod, to get au fait with oil extraction.
The Speaker has underlined that the contract will significantly contribute to implementing the goal of Mongolia's parliament and government to provide the domestic needs in fuel in a way of erecting an oil processing factory and importing crude oil from abroad. "It means that fuel prices will go down, budget revenue will go up," he has said. Parliament intends to consider a draft law regarding capital guarantee of the government for the biggest economic projects, he has added.
In responce, a leader of the energy and chemical factory of the "Marubeni" Mr. Eiji Okada has said they will be highly responsible in completing a construction of the factory and that they intend to cooperate with Mongolia in preparing skilled staffers for oil processing.
In accordance with the project to be co-implemented by the two countries' governments and private companies, the construction of the oil processing factory will begin in 2011 to be completed within 2014. The new factory is expected to have a capability of processing 44 thousand barrel oil a day. The technical and economic justification has been worked out with financing of the Bank of Japan and the Japan Bank for International Cooperation.
3-day NAMBC conference begins Tuesday evening
September 28 (news.mn) The 13th Annual Investors Conference in Ulaanbaatar of The North America-Mongolia Business Council begins on Tuesday evening, and concludes Thursday evening, September 30. US Ambassador Jonathan Addleton will deliver the keynote address on the morning of September 29.
The conference includes a special "Dinner with President Ts. Elbegdorj" for all registered delegates on September 29 at Ikh Tenger, his official residence.
The final session of the conference will be a two-part seminar on Clean Coal & Clean Energy on September 30. Among the speakers are N. Batsuuri, State Secretary of Ministry of Nature, Environment and Tourism; Da. Ganbold, Deputy Mayor of Ulaanbaatar; Susan Russell, Economic and Environmental Officer, U.S. Embassy; N. Enebish, Director, National Renewable Energy Center; Tsendsuren, Head, Clean Development Management, National Designated Authority; N. Boldkhuu, Head, Fuel Policy Department, Ministry of Minerals Resources and Energy; and B. Byambasaikhan, Head, Clean Energy, Newcom LLC.
PM given authority to cancel any anti-business reforms order
September 28 (news.mn) The Government has asked the Ministry of Justice and Internal Affairs to make a list of orders and decisions by Ministers, Government Agencies, and province Governors that either contradict the law or in any other way impede realization of the goals of the program to reform the business environment in 2010.
This list will be submitted to the Prime Minister who has been authorized by the cabinet to annul any such decision and order after a review. This step became necessary after the Ministry received for its consideration 25 such decisions in recent weeks and had to amend 20 of them.
XacBank to help implement MCA-M clean air project
September 28 (news.mn) The Millennium Challenge Account-Mongolia (MCA-M) and XacBank have signed an agreement to cooperate on joint implementation of a clean air project to reduce air pollution in Ulaanbaatar. Around USD31 million of MCA-M money will be used to produce energy efficient products and increase their use in ger district households.
The plan is to provide financial assistance to households to enable them to buy such products and to set up arrangements to market such products to consumers. XacBank will be responsible for distributing the financial support to households. The program is expected to begin in Khoroo 12 of Chingeltei district in winter 2011, and then gradually spread to all khoroos of the city. The ger districts account for some 60% of the population of Ulaanbaatar, and if they use energy efficient, environment-friendly products, the air pollution caused by burning coal is expected to be significantly reduced.
PRESIDENT MEETS DELEGATION OF BOEING
September 28, Ulaanbaatar, Mongolia, /MONTSAME/ Mongolia's President Ts. Elbegdorj received Tuesday Mr. Robert K. Laird, a "Boeing" senior vice president of East and Southeast Asia commercial airplanes sales.
The President has underlined that the strategic importance of the air transportation is one of the key issues of the Mongolian state due to its landlocked position.
He has expressed a satisfaction with discussing with Mr. Laird the matters on mutually beneficial and long term cooperation of "Boeing" with Mongolian Airlines.
EXCHANGE RATES
Australia
| Close: Mongolia Related ASX Listed Companies, September 28, 2010 | ||||||||
| 0.850 | -0.025 | 0.840 | 0.860 | 0.895 | 0.895 | 0.850 | 304,292 | |
| 0.021 | 0.003 | 0.020 | 0.021 | 0.018 | 0.024 | 0.018 | 82,400,329 | |
| 0.190 | 0.000 | 0.190 | 0.200 | 0.190 | 0.195 | 0.190 | 423,651 | |
| 0.135 | -0.005 | 0.135 | 0.140 | 0.135 | 0.135 | 0.130 | 699,228 | |
| 0.175 | 0.010 | 0.160 | 0.175 | 0.160 | 0.175 | 0.160 | 175,500 | |
| 34.200 | 0.030 | 34.190 | 34.220 | 34.240 | 34.500 | 34.120 | 800,642 | |
| 77.000 | -0.150 | 76.990 | 77.030 | 76.800 | 77.220 | 76.510 | 2,006,878 | |
| 39.430 | -0.230 | 39.430 | 39.500 | 39.460 | 39.600 | 39.410 | 9,056,304 | |
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
Shares flat as banks defy Wall Street
September 28 (AAP) Close, The Australian sharemarket clawed back most of its early losses to close marginally lower in very quiet trade, after small rises in banking stocks capped falls in the mining sector.
The benchmark S&P/ASX200 index slipped 5.6 points, or 0.1 per cent, at 4669.8, while the broader All Ordinaries index eased 5.2 points, or 0.1 per cent, to 4717.
Among the sectors, financials were up 0.1 per cent, but materials lost 0.5 per cent and gold stocks fell 1.2 per cent.
need2know:
- Europe shares edge lower in early trade
- Asian shares follow Wall Street down
- The dollar slips below 96 US cents
- Gold slips to $US1291 an ounce
- Oil falls to $US76 a barrel
- Dow futures are 8 points lower at 10,742
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Global miners BHP Billiton and Rio Tinto recovered some earlier losses but still closed in the red. BHP Billiton was down 23 cents at $39.43, Rio Tinto had lost 15 cents to $77.00 and Alumina gave up 1.5 cents to $1.84, but Fortescue added 5 cents to $5.18.
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Preliminary national turnover was 2.28 billion shares worth $3.93 billion, with 533 stocks up, 527 stocks down and 385 stocks unchanged.
Global
Asian Stocks Fall on Europe, China Concerns; Takefuji Plunges
Sept. 28 (Bloomberg) -- Asian stocks fell, dragging down the MSCI Asia Pacific Index by the most in almost two weeks, on concern European government finances are worsening and that China will intensify measures to rein in property prices.
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The MSCI Asia Pacific Index lost 0.5 percent to 126.41 as of 8:02 p.m. in Tokyo, the biggest drop since Sept. 16. Concerns that mounting European government debt will hurt global economic growth contributed to the MSCI gauge slumping 15.7 percent from its 2010 high on April 15 to its low for the year on May 25. The index has since climbed 16 percent.
“European debt concerns will linger and that clouds the pace of the global economic recovery,” said Hiroshi Morikawa, a strategist in Tokyo at MU Investments, which manages about $14 billion in assets. “It will take a long time to solve the issue.”
The Nikkei 225 Stock Average sank 107.38, or 1.1 percent, to 9,495.76 in Japan, where about 1,400 companies went ex- dividend today, according to data compiled by Bloomberg. That means investors who bought the stocks aren’t entitled to receive dividends for April-September. SMBC Friend Securities estimated that would erase about 63 points from the Nikkei 225.
Record Irish Spreads
China’s Shanghai Composite Index sank 0.6 percent, and Hong Kong’s Hang Seng Index slumped 1 percent. South Korea’s Kospi Index dropped 0.3 percent, while India’s Sensitive Index lost less than 0.1 percent.
Futures on the Standard & Poor’s 500 Index were little changed. The index dropped 0.6 percent yesterday. Financial companies led the decline as investors speculated that merger talks between M&T Bank Corp. and Banco Santander SA broke down, while the extra yield investors demanded to buy Irish 10-year bonds instead of Germany’s bunds widened to a record.
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“Concerns about the global economic outlook haven’t cleared,” said Yasushi Noguchi, a strategist in Tokyo at SMBC Friend Securities Co. “There are still issues related to Europe’s debt.”
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In Hong Kong, Aluminum Corp. of China Ltd., the nation’s largest producer of the metal, jumped 4.3 percent to HK$7.32 for the Hang Seng Index’s biggest advance. The company’s parent announced a plan to invest at least 10 billion yuan ($1.5 billion) in rare earths.
European Stocks Pare Drop, Euro Rebounds as Stark Hails Lending
Sept. 28 (Bloomberg) -- European stocks pared losses and the euro recovered after the region’s central banks were said to buy Irish debt and policy maker Juergen Stark hailed an increase in lending. U.S. futures fluctuated before housing and consumer confidence data.
The Stoxx Europe 600 Index slipped 0.1 percent to 262.68 at 12:28 p.m. in London, after dropping as much as 1.1 percent. The euro was little changed at $1.3478, rebounding from as weak as $1.3381. Futures on the Standard & Poor’s 500 Index rose 0.1 percent. Cotton extended gains to a 15-year high and Irish and Portuguese bonds pared losses.
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The MSCI World Index of stocks in 24 developed nations lost 0.2 percent. Michelin & Cie., the world’s second-largest tiremaker, tumbled 11 percent, the biggest daily drop in 20 years, after saying it plans to raise 1.2 billion euros ($1.6 billion) selling new shares. Bank of Ireland led financial shares lower, slumping 5.7 percent.
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Copper Slips
The euro appreciated against nine of 16 of its most-traded peers, strengthening 0.5 percent against Norway’s krone and 0.4 percent versus Canada’s dollar.
Copper for delivery in three months declined 0.5 percent to $7,873.25 a metric ton the London Metal Exchange, after earlier today falling as much as 0.8 percent. Cotton for December delivery climbed 1.4 percent to $1.054 a pound and earlier today traded at $1.0621 a pound, the highest since June 1995. Pakistan may have to import cotton as a result of its worst ever floods, Farm Minister Nazar Gondal, said.
Misc
U.S Grants US$ 9.5 Million Aid to Mongolia
On September 27, 2010 a formal ceremony at the Ministry of Finance, United States Ambassador to Mongolia Jonathon Addleton, USAID Representative to Mongolia Chuck Howell, and Minister of Finance S. Bayartsogt signed two Strategic Objective Agreements providing US$9,467,090 in grants.
The signing of these agreements marks the 19th year of USAID operations in Mongolia. Since 1991, USAID has been actively engaged in Mongolia’s transition to a market oriented democracy, and will continue to focus on private sector led growth that is supported by transparent and accountable judicial and government structures and procedures. These are essential to securing the expected gains of the country’s mining sector.
The signed agreement will support projects focusing on economic policy reform, environment, and democracy and governance.
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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 +976-99996779.
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