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.
Prophecy Announces $2,030,000 Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2010) - Prophecy
Resource Corp. ("Prophecy" or the "Company") (TSX
VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) reports that the Company has
arranged a non-brokered private placement of 4,060,000 units (each a "Unit")
at a price of $0.50 per Unit to raise aggregate proceeds of $2,030,000. Each
Unit is comprised of one common share and one half of one share purchase
warrant. Each whole share purchase warrant (a "Warrant") entitles the holder
to acquire one additional common share for a period of two years at a price
of $0.60.
A finder's fee of 5% of the proceeds raised payable in cash will be paid to
Eurasia Capital and Frontier Securities.
Proceeds of the placement will be applied to general working capital.
Prophecy also advises that it has granted incentive stock options to certain
officers and consultants entitling them to purchase up to 1,000,000 common
shares of the capital stock of Prophecy at a price of $0.54 per share until
September 21, 2015. The above is subject to regulatory approval.
Link
<http://www.marketwire.com/press-release/Prophecy-Announces-2030000-Private-
Placement-TSX-VENTURE-PCY-1322888.htm> to announcement
Link to PCY's stock chart <http://www.google.com/finance?q=CVE:PCY>
Northern and Prophecy Complete Plan of Arrangement, Prophecy Consolidates
100% Wellgreen PGM Deposit
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2010) - Prophecy
Resource Corp. ("Prophecy") (TSX VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2)
and Northern Platinum Ltd ("Northern") (TSX VENTURE:NTH) (together, the
"Companies") are pleased to announce that the business combination of
Northern and Prophecy (see joint Northern / Prophecy news, June 15, 2010)
will be completed on September 23, 2010 (the "Closing Date").
Immediately prior to the closing of the business combination, Northern will
issue 591,992 common shares to M Partners Inc. as payment for its services a
financial and fairness advisor to Northern.
The last day of trading of the common shares of Northern on the TSX-V will
be September 22, 2010.
Additionally, Prophecy is pleased to announce it is completing the
acquisition of 50% Back-in right ("Back-in") on the Wellgreen project held
by Belleterre Quebec Mines Ltd, of Quebec, Canada on September 24, 2010 (see
joint Northern / Prophecy news, June 15, 2010). Securities issued to
Belleterre as consideration for the Back-in are subject to a hold period
expiring on January 23, 2011.
...
Link
<http://www.marketwire.com/press-release/Northern-Prophecy-Complete-Plan-Arr
angement-Prophecy-Consolidates-100-Wellgreen-PGM-TSX-VENTURE-PCY-1322836.htm
> to announcement
Khan Resources gets Mongolia agency breather, shares up
* Says dispute period has now expired
* Says NEA decision not to challenge ruling "encouraging"
* Shares rise 13 pct
Sept 21 (Reuters) - Khan Resources Inc (
<http://www.reuters.com/finance/stocks/overview?symbol=KRI.TO> KRI.TO) on
Tuesday said the Nuclear Energy Agency (NEA) did not challenge a
<javascript:void(0)> Mongolian court ruling, which invalidated the agency's
decision to cancel mining license for one of the company's units, sending
Khan's shares up 13 percent.
On Aug. 2, the court had said the NEA decision to invalidate Khan Mongolia's
exploration license, covering part of the Dornod uranium property, was
illegal and invalid.
The NEA had decided to appeal the court's decision.
"The dispute period for the Aug. 2 decision by the Mongolian Capital City
Administrative Court in favor of Khan's subsidiary, Khan Resources LLC, has
now expired," the Canadian explorer said.
The company, which owns license to explore uranium at Dornod, has been
facing trouble from Mongolian authorities.
The decision by the NEA not to appeal the court ruling was unexpected, but
"we are encouraged that they have chosen not to challenge the decision,"
Chief Executive Grant Edey said in a statement.
The company also said the appeal on the hearing for its Central Asian
Uranium Co LLC (CAUC) license is expected to be heard in late September. In
April, the Mongolian agency cancelled the mining license of its
majority-owned CAUC, citing certain violations. [ID:nSGE63C0HN]
Shares of Toronto, Ontario-based Khan were up 4 Canadian cents at 35
Canadian cents Tuesday morning on the Toronto Stock Exchange. They have lost
nearly two-thirds of their value since April 13 when the company said the
NEA had cancelled license of CAUC.
Link to article <http://www.reuters.com/article/idUSSGE68K0KU20100921>
(KRI up more than 16% on the news. Link to chart
<http://www.google.com/finance?q=TSE:KRI> )
Hunnu Coal has 11 drill rigs at work in Mongolia
September 21 ((Proactive Investors HK) Hunnu Coal (ASX: HUN) has upped the
pace of drilling at its coal projects in Mongolia with eleven rigs operating
on various projects in the Middle and South Gobi Coal Provinces, aimed at
generating initial JORC resources.
Hunnu has completed 71 drill holes for 6,022 metres at the Unst Khudag Coal
Mine, where four drilling rigs are currently operating.
Within Unst Khudag the Har Toirom discovery has a coal seam thicknesses
average 30 metres in combined thickness, with total thicknesses up to 47
metres.
Initial JORC resources are expected to be completed for both the Unst Khudag
Mine and the Har Toirom discovery in the last quarter of 2010, with Hunno
estimating an exploration target of 250Mt to 500Mt of coal for the Unst
Khudag Project.
Hunnu has completed 20 drill holes for 3,654 metres at the Tsant Uul Coking
Coal Project, where five drilling rigs are currently operating.
The coal seams have a combined thickness of approximately 30 metres. Seam 1
and Seam 3, which are the larger of the three seams, are both showing coking
properties in initial early stage test work.
A JORC resource study for Tsant Uul is expected to be completed prior to the
end of this year with scoping and development studies to commence early in
2011, with Hunnu estimating an exploration target of 50Mt to 100Mt of coal.
Hunnu has completed 15 drill holes for 2,132 metres at Tenuun-2, with two
rigs operating.
Initial test work indicates a high quality black thermal coal, with Hunnu
estimating an exploration target of 25Mt to 50Mt of coal, with an initial
JORC Resource is expected towards the end of this year.
In total, Hunnu has completed 106 drill holes for 11,808 metres of drilling.
The aggressive drilling program of known coal deposits is allowing Hunnu to
meet its aim of becoming a major force in the exploration and development of
coking and thermal coal deposits in South Gobi and Middle Gobi Coal
Provinces.
Hunnu has announced an aggressive timetable for developing three coal mines
in Mongolia, within the next four years.
Link
<http://www.proactiveinvestors.com.hk/market_news/2642-hunnu-coal-has-11-dri
ll-rigs-at-work-in-mongolia.html> to article
(HUN up 2c to 90c on September 22. Link to chart
<http://www.google.com/finance?q=ASX:HUN> )
MICC Initiates Cover of Sharyn Gol JSC
Initiating Coverage
MICC initiates coverage on Sharyn Gol JSC, though due to the company's
ongoing full-scale restructuring activities, we are hesitant to offer a
forecast model at this time. In our opinion, the changes underway and
preliminary communication from the new management paint a compelling
turnaround story, and we will follow-up with valuation thoughts as material
information such as JORC resource numbers, coal quality lab results, offtake
agreements, and further details of mine refurbishment and development are
disclosed.
Company Background
Sharyn Gol was founded in 1965 by the Government of Mongolia to mine thermal
coal from an open pit cut outside Darkhan, a city roughly 220 kilometers
north of the capital city, Ulaanbaatar. The mined thermal coal was used
entirely for domestic purposes, including fueling the Darkhan city power
plant. By the mid 1980's, the Company was producing in excess of 2.5 million
tonnes per annum. After Mongolia's political and economic transition in the
early 1990's, the mine has been in decline due to deteriorating mine
equipment and lack of capital expenditure.
About MICC
MICC is the premier investment bank in Mongolia, offering a full range of
investment banking, securities underwriting, brokerage, research, and asset
management services. We assist both local and international clients realize
their strategic goals by offering innovative and efficient financing
solutions. We are committed to building long-term partnerships with our
clients and assisting them to reach their overall development and growth
objectives.
Contact info@micc.mn for full report
Mongolia mines a rich seam
Ben Aris in Ulaanbaatar
September 22, 2010 (bne) The hill that runs along the side of Ulaanbaatar,
the capital of Mongolia, is still covered with yurts, the nomadic tent
houses that have been used for millennia by the peoples of the steppe. Some
stand in the lee of the power station on the hill and the wires overhead
crackle with electricity.
Its four o'clock and school children in uniform pick their way through the
dust and rubbish on their way home to their families in the yurt that often
house up to eight people. The number of tents has actually increased this
year following a "zud" winter in 2009, the Mongolian term for an extremely
snowy winter where the livestock can't find food. Many of the new arrivals
lost up a third of their animals, slaughtered the rest and moved to UB - as
the locals call the capital - to look for work.
Mongolia started this millennium as one of the poorest countries in the
world, but since work started on the Oyu Tolgoi (OT) copper-gold mine
earlier this year everything has changed. The prospects for the herders in
the yurts has improved dramatically in just the last year as the investment
from just this one project already lifted the economy by a fifth and will
drive growth for the next three years. But when the mine comes online in
2013, the economy should explode.
...
Mongolia is still right at the beginning of developing these resources and
most of the coal projects won't start coming online until next year at the
earliest, but together they will add to the money flowing into the economy
from the OT mine the few paying attention to the story say the growing
affluence will quickly spill over into the rest of the economy as it has
done elsewhere in resource-rich economies. "Billions of dollars will be
pouring into the country in the coming years as all these project get going.
It is going to spill over to the banks and the real estate sector and the
whole economy will be lifted," reckons Ganhuyag Hutagt from the TenGer
Financial group, who is also an economic advisor to the prime minister. "The
biggest challenges we face going forward is building up the infrastructure
and how to handle all this money that is on its way so we don't succumb to
things like the Dutch disease. Still, these are not bad problems to have."
Link to <http://businessneweurope.eu/story2294/Mongolia_mines_a_rich_seam>
article
Mongolia's stock rises
September 22, 2010 (bne) Russian funds made a hoopla out of the leading RTS
index giving the Chinese stock market a drubbing over the last decade,
returning five times as much, or a bit more than 750%. But they go quiet
when you mention Mongolia, the best performing market in the world over the
last decade, up a bit more than 1,600% over the same period.
Russians needn't be too abashed, as the two exchanges barely warrant
comparison: Moscow sees a daily turnover of some $2bn-3bn a day and half the
investors are foreign, whereas the Mongolian Stock Exchange (MSE) has a
daily turnover on a good day of just $100,000 and there are almost no
foreign investors to speak of. Indeed, a businessman with a gold Visa card
and a penchant for a flutter on a mining stock could move the MSE index by
several points on his own.
The MSE is tiny. The entire market capitalisation is a mere $500m. There is
no global custodians in the country, making it all but impossible for
foreign investors to buy shares, even if they wanted to. And the trading is
subject to manipulation and razor-thin free floats.
Reform of the market has yet to start and its existence remains the legacy
of the privatisation process in the 1990s. Many of the companies currently
listed are the end result of the voucher privatisation programme, where the
Mongol and Russian experiences are very similar with managers walking off
with their companies. Moreover, some of these companies are now defunct (but
remain listed), while others that are operating don't bother to meet the
financial reporting requirements because no one has got round to enforcing
the rules.
...
And change will come sooner, rather than later. The MSE is currently
considering bids by the London Stock Exchange, Sweden's OMX HEX and South
Korea's main exchange to provide management services for the national
exchange and supply it with new trading technology. A decision on the winner
is expected before the end of the year. "We are offering them technology as
well as business development," says Jon Edwards, who spearheads the LSE's
business in Eastern Europe. "The market is small and the listings needs to
be cleaned up, but the potential is phenomenal. Mongolia could do better
than Kazakhstan if they can put all the pieces in place."
...
Link to <http://businessneweurope.eu/story2297/Mongolias_stock_rises>
article
PRIME MINISTER MEETS GEORGE SOROS
Ulaanbaatar, Mongolia, /MONTSAME/ Mongolia's Premier S.Batbold met George
Soros in New-York September 21.
Mr Batbold has highly spoken Soros's "significant contribution to developing
the democracy and human rights institutions in Mongolia". He
The Premier ha said that it is needed to expand Mongolia-Soros Foundation
cooperation in strengthening the humane and democratic society, in forming
civil society and free press system.
The sides noted that George Soros, a famous investor and businessmen, can
make profitable investments to Mongolian economy.
Present at the meeting were G.Batkhuu, a Deputy Speaker parliament,
N.Ganbayamba MP, D. Zorigt, a Minister of Mineral Resources and Energy,
D.Tsogtbaatar, a State Secretary of Ministry of Foreign Affairs, and
authorities of Soros Foundation.
Link
<http://www.montsame.mn/index.php?option=com_news&mt=normal_news&tab=201009&
task=news_detail&ne=1123> to article
ENTRÉE GOLD MANAGEMENT CHANGES
VANCOUVER, Sept. 22 /PRNewswire-FirstCall/ - Entrée Gold Inc. (TSX:ETG; NYSE
AMEX: EGI; Frankfurt:EKA - "Entrée" or the "Company") is pleased to announce
the addition of Susan McLeod to its executive team as Vice President, Legal.
Ms. McLeod has been practicing law in Vancouver, Canada since 1997. She has
worked as outside counsel to public companies engaged in international
mineral exploration and mining. She has advised clients with respect to
corporate finance activities, mergers and acquisitions, corporate governance
and continuous disclosure matters, and mining-related commercial agreements.
...
Link
<http://www.prnewswire.com/news-releases/entree-gold-management-changes-1035
34909.html> to announcement
Currency Rates
Link to Mongol Bank FX Rate Site <http://www.mongolbank.mn/web/guest/137>
Australia
Close: Mongolia Related ASX Listed Companies, September 22, 2010
<https://myasx.asx.com.au/clickable/code.htm> Code
<https://myasx.asx.com.au/clickable/last.htm> Last
https://myasx.asx.com.au/images/price_unchanged.gif
<https://myasx.asx.com.au/clickable/change.htm> $ +/-
<https://myasx.asx.com.au/clickable/bid.htm> Bid
<https://myasx.asx.com.au/clickable/offer.htm> Offer
<https://myasx.asx.com.au/clickable/open.htm> Open
<https://myasx.asx.com.au/clickable/high.htm> High
<https://myasx.asx.com.au/clickable/low.htm> Low
<https://myasx.asx.com.au/clickable/vol.htm> Volume
<javascript:goToNonSecure('/asx/research/companyInfo.do?by=asxCode&asxCode=H
UN')> HUN
0.900 Up
0.020
0.895
0.900
0.890
0.900
0.870
597,335
<javascript:goToNonSecure('/asx/research/companyInfo.do?by=asxCode&asxCode=V
OR')> VOR
0.015 Up
0.002
0.014
0.015
0.014
0.015
0.013
2,079,397
<javascript:goToNonSecure('/asx/research/companyInfo.do?by=asxCode&asxCode=L
RL')> LRL
0.185 No change
0.000
0.185
0.195
0.185
0.185
0.185
327,498
<javascript:goToNonSecure('/asx/research/companyInfo.do?by=asxCode&asxCode=A
KM')> AKM
0.145 Up
0.015
0.140
0.145
0.135
0.150
0.135
2,213,692
<javascript:goToNonSecure('/asx/research/companyInfo.do?by=asxCode&asxCode=G
MM')> GMM
0.160 Down
-0.010
0.155
0.160
0.150
0.160
0.150
134,187
<javascript:goToNonSecure('/asx/research/companyInfo.do?by=asxCode&asxCode=L
EI')> LEI
<javascript:goToNonSecure('/asx/statistics/announcements.do?by=asxCode&asxCo
de=LEI&timeframe=D&period=T')> *
32.950 Down
-0.280
32.900
33.220
33.410
33.450
32.900
671,853
<javascript:goToNonSecure('/asx/research/companyInfo.do?by=asxCode&asxCode=R
IO')> RIO
74.900 Down
-0.330
74.890
75.000
74.600
75.320
74.420
3,805,696
<javascript:goToNonSecure('/asx/research/companyInfo.do?by=asxCode&asxCode=B
HP')> BHP
<javascript:goToNonSecure('/asx/statistics/announcements.do?by=asxCode&asxCo
de=BHP&timeframe=D&period=T')> *
38.900 Up
0.180
38.880
38.920
38.550
39.000
38.480
11,982,820
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: <http://asx.com.au> asx.com.au
Shares edge higher in rollercoaster trade
September 22 (AAP) Close The Australian stockmarket finished slightly higher
after an up and down day in which profit taking impacted on gains driven by
offshore sentiment.
At the close, the benchmark S&P/ASX200 Index was up 7.7 points, or 0.2 per
cent, at 4625.2, while the broader All Ordinaries Index had risen 9.8
points, or 0.2 per cent, at 4674.7.
Among the major sectors, energy shares rose 0.6 per cent, financials gained
0.2 per cent and materials closed flat.
The dollar extended its recent rally, pushing through a key resistance level
to touch 95.8 US cents.
need2know:
- European shares inch up in early trade
- Asian shares rise to highest level in 5 months
- The dollar jumps to 25-month high above 95 US cents
- Gold trades at $US1298, just off record high
-
<http://www.businessday.com.au/business/markets/oil-steadies-as-report-shows
-gains-in-us-supplies-20100922-15ltl.html> Oil is little changed around
$US75
- Dow futures are 37 points higher at 10,731
The major indices posted solid gains in morning trade on the back of the US
Federal Reserve's comment that it may do more to help the US economy, but
slumped around midday.
...
Volumes remain low, however, and profit taking appears to be a significant
factor, following the strong gains in recent weeks, according to IG Markets
strategist Ben Potter.
...
BHP Billiton gained 18 cents to $38.90, while Rio Tinto lost 33 cents to
$74.90.
...
Preliminary market turnover was 2.8 billion shares worth $5.2 billion, with
587 stocks up, 478 down and 359 unchanged.
Link
<http://www.businessday.com.au/business/shares-edge-higher-in-rollercoaster-
trade-20100922-15m1f.html> to article
US woes buoy the Aussie, gold
September 22 (The Age) ECONOMIC woes in the US have helped lift the
Australian dollar and gold prices as investors look to safer options to
house their money.
News from the US Federal Reserve that it would take steps to stimulate the
economy against fears of deflation produced an immediate selloff of the
greenback and sent spot gold to a record high of $US1290.70 an ounce.
The Federal Reserve said it was prepared to act if necessary to stop prices
falling.
''The committee will continue to monitor the economic outlook and financial
developments and is prepared to provide additional accommodation if needed
to support the economic recovery and to return inflation, over time, to
levels consistent with its mandate,'' it said.
That led the Australian dollar to surge from US94.70¢ before the statement
was released to US95.60¢ a minute afterwards.
...
Link
<http://www.businessday.com.au/business/us-woes-buoy-the-aussie-gold-2010092
2-15mzb.html> to article
Global
Asian Stocks Rise to Five-Month High on Asian Growth Optimism
Sept. 22 (Bloomberg) -- Asian stocks rose, driving the MSCI Asia Pacific
Index to an almost five-month high, after the Hong Kong Monetary Authority
said the city's economy will grow and an index of leading Australian
economic indicators climbed.
Sun Hung Kai Properties Ltd. advanced 1.8 percent in Hong Kong on
speculation economic growth will boost asset prices. CSL Ltd., the world's
No. 2 maker of treatments derived from blood, climbed 3.4 percent in Sydney
on optimism it will benefit from the recall of a competitor's product. Honda
Motor Co., which gets almost 85 percent of its revenue abroad, fell 1.6
percent in Tokyo as the yen strengthened to its highest level in a week
against the dollar, damping the outlook for the nation's exports.
The MSCI Asia Pacific Index gained 0.5 percent to 125.58 as of 7:55 p.m. in
Tokyo, the highest level since April 30. About four stocks fell for every
three that rose. The measure advanced as the Federal Reserve said it's
willing to ease monetary policy further to spur growth. The U.S. central
bank kept its key interest rate unchanged yesterday and refrained from
expanding its holdings of securities.
"Money is flowing into Asia, Australia and Brazil as growth is expected to
continue with strong domestic demand," said Naoteru Teraoka, general manager
at the investment unit of Tokyo-based Chuo Mitsui Asset Management Co.,
which oversees about $26 billion. "This trend is likely to continue because
the economic recovery in developed countries like the U.S. is still weak."
Hong Kong's Hang Seng Index rose 0.2 percent. Singapore's Straits Times
Index dropped gained less than 0.1 percent and Japan's Nikkei 225 Stock
Average lost 0.4 percent. Markets in China, South Korea and Taiwan were
closed for holidays.
...
Link <http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=af0O7Ijki2AU>
to article
---
"Mogi" Munkhdul Badral
Executive Director
CPS International
Email: <mailto:mogi@cpsinternational.mn> 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
<mailto:mogi@cpsinternational.mn> mogi@cpsinternational.mn or +976-99996779.
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