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.
Leyshon Targeting Coking Coal Exploration Assets in South Western Mongolia
October 4, Leyshon Resources Limited (AIM/ASX: LRL) (Company) is pleased to announce that as part of a broader strategy to target and acquire high quality coal assets located in Western China and Mongolia it has made applications for a large area of exploration licenses in the Gobi Altai region of South West Mongolia.
A total of five licences (totaling 2,664 km2) have been applied for covering ground which the Company's geologists consider to be highly prospective for high quality coals including hard coking and semi soft coking coals as well as high energy thermal coals.
The licence applications lie between 35 to 100 kilometers from a recently re-established Mongolia/China border crossing at Laoyemiao, giving direct access to the rapidly expanding Bayi steel mill at Urumqi in the Chinese Province of Xinjiang and the major producing steel centres of Jiayuguan and Jiuquan and in the north west of the Chinese Province of Gansu.
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The licence applications are subject to Mongolian government approval (one application has been accepted the other four are located within in a coal belt occurring within the government identified areas for tender). The tender process is scheduled to commence during the December quarter.
The Company has established a Mongolian registered subsidiary company Ikh Zuchi Resources Limited headed by Mongolian national Mr. Sukh-Ochir Jantsandorj a senior geologist with more than 15 years exploration experience in Mongolia and China who has been responsible for much of the Company's Mongolian exploration work over the past twelve months.
The Company's technical team has completed extensive ground truthing and sampling programmes covering keys areas of the Junggar and Tulufan coal bearing sedimentary basins which extend from the Chinese Province of Xinjiang into the Gobi Altai district of Southern Mongolia.
The Company's geologists have observed and sampled a range of higher rank and coking coals at the shallowest edges of these large basins, where the right sequences intermix with intrusives, particularly those associated with regional tectonic activity and hosted by older (Carboniferous) coal-bearing formation.
These coals types will be the target of future exploration programmes in the event that the Company is successful in its exploration licence application process.
The Company is based in Beijing where its corporate and technical team continues to generate and evaluate a wide range of investment opportunities. The Company has over A$46.5 million in cash, held mainly on term deposit in Australia.
(Mogi: LRL rose 4c or 21.62% today to 22.5c on ASX following the announcement. Intra-day high was 24c)
Japan to Send Study Group to Mongolia to Explore Rare Earths
Oct. 4 (Bloomberg) -- Japan, the world's biggest importer of rare earths, plans to send a study group to Mongolia this month as the nation tries to diversify its supply sources.
The Ministry of Economy, Trade and Industry will send a group in mid-October to study rare-earth deposits with the nation's government, Hiromitsu Sugawara, deputy director at the ministry's Northeast Asia division, said today. The two countries have also agreed to expedite talks for an Economic Partnership Agreement and to develop coal and uranium projects.
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The trade ministry will form a delegation from Japan Oil, Gas & Metals National Corp., which manages and explores Japan's strategic resources, and the National Institute of Advanced Industrial Science & Technology, Sugawara said by phone.
Japan's Trade Minister Akihiro Ohata met Mongolian Prime Minister Sukhbaatar Batbold in Tokyo yesterday, a day after Japanese Prime Minister Naoto Kan and Batbold agreed to begin an effort to locate rare-earth mines, Sugawara said.
Related article: Mongolia and Australia join rare earths race – TechEYE.net
Micro mining regulations being drafted
October 4 (news.mn) The Deputy Chief of the Mining and Heavy Industrial Policy Board of the Ministry of Mineral Resources and Energy, Ch.Tsogtbaatar, talks to our journalist.
Is the law to regulate artisanal gold mining ready?
The issue remains open as a ban on such mining will mean loss of livelihood for a large number of people, popularly called ninjas. On two earlier occasions some restrictive regulations were framed but these could not be enforced. More time is needed to draft a law with a chance to succeed.
What happened to a proposal to allot some special land for them?
A soum may be allowed to allot not more than 10 hectares for hand mining. But first, there has to be a clear definition of what is formally called micro mining, and areas suitable for non-industrial mining have to be identified. It also has to be decided how local administrations will monitor the activity of micro miners. What will their legal status be? Will they work individually or as part of a cooperative union? Will this union be registered? Registration as an economic entity needs at least five members, and permission, license and seal.
What stage are you in with the work?
A draft has been made and we have asked related Ministries for their opinion. We hope to submit the final draft to the Government this month.
Will micro miners pay tax?
There was not much support for an earlier proposal to tax them 10% of minimum wages. We hope Parliament would discuss the issue again.
VICE MINISTER OF FOREIGN AFFAIRS RECEIVES JORDAN'S PRINCE
October 4, Ulaanbaatar, Mongolia, /MONTSAME/ The Vice Minister of Foreign Affairs of Mongolia B.Bolor received Sunday Mr. Hussein bin Al Abdullah, Crown Prince of Jordan's King Abdullah II and a special envoy of the president of the Convention on the Prohibition of the Use, Stockpiling, Production and Transfer of Anti-Personnel Mines and on their Destruction (Ottawa Treaty).
The Crown Prince has underlined that many civilians and troops are being killed and injured due to anti-personnel mines, and then noted that the world countries are trying to prohibit and destroy such weapons. He said Mongolia supports the Ottawa Treaty, and appreciated Mongolia's active collaboration with the treaty's activities. He expressed a confidence that Mongolia will join the Ottawa Treaty.
Mr. Bolor has pointed out Mongolia has steadily supported the Ottawa Treaty because purposes and major principles of the treaty meet Mongolia's concept on foreign policy, and mentioned that "there are many problems in joining this convention".
U.S. Energy official happy with cooperation with Mongolia
October 4 (news.mn) During his recent visit to Mongolia, U.S. Deputy Secretary for Energy Daniel Poneman delivered an address at the Mongolian University of Science and Technology. Titled "Building a Sustainable Energy Future", the speech focused on what the United States is doing – and what it can do with Mongolia – to build a prosperous, secure, and sustainable energy future. Their "excessive dependence on fossil fuels" puts the environment of both nations at risk. In addition, "both countries – indeed, all countries – face the shared challenge of climate change".
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Recognizing that coal is likely to comprise a major source of electricity generation for the foreseeable future, the USA has set a goal to advance carbon capture and storage technology to the point where widespread, affordable deployment is possible within 10 years. Clean coal technologies could be of great interest to Mongolia, which is heavily dependent on coal.
Poneman said, "Civil nuclear cooperation is just one aspect of our energy relationship. Mongolia is also part of the Methane to Markets Partnership, which is chaired by the U.S. Environmental Protection Agency and supports projects to capture methane and use it as a source of clean energy. The Millennium Challenge Corporation is collaborating on energy efficiency and wind energy projects in Mongolia. And US AID is helping with efforts to increase transparency and accountability in the energy sector.
"Our cooperation extends beyond the government-to-government level to a personal level. This fall, 1,000 student visas were issued to Mongolian students to study in the United States. Both the public and private sectors are helping support this exchange. For example, this fall a promising Mongolian student began graduate studies at the University of Arizona's Department of Mining and Geological Engineering thanks to a scholarship from Peabody. We wish to extend a warm welcome to all Mongolian students who visit our shores.
"These efforts provide a solid foundation for the U.S.-Mongolia energy relationship, and I look forward to discussing opportunities to enhance this relationship. Working together, we can promote sustainable energy practices that can boost economic growth, strengthen global security, and leave our children and our children's children a healthier planet.
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Exchange Rates
Link to Mongol Bank FX site
Australia
| Close: Mongolia Related ASX Listed Companies, October 4, 2010 | ||||||||
| HUN | 0.880 | 0.000 | 0.870 | 0.880 | 0.880 | 0.880 | 0.865 | 110,817 |
| VOR | 0.030 | 0.008 | 0.030 | 0.031 | 0.022 | 0.031 | 0.020 | 37,964,099 |
| LRL * | 0.225 | 0.040 | 0.220 | 0.225 | 0.210 | 0.240 | 0.210 | 2,800,318 |
| AKM | 0.160 | 0.015 | 0.155 | 0.160 | 0.150 | 0.160 | 0.150 | 2,347,887 |
| GMM | 0.170 | 0.025 | 0.150 | 0.170 | 0.170 | 0.170 | 0.170 | 31,000 |
| LEI | 33.810 | 0.980 | 33.750 | 33.840 | 33.300 | 33.960 | 33.080 | 506,265 |
| RIO | 78.080 | 1.010 | 77.970 | 78.130 | 77.500 | 78.180 | 77.250 | 1,958,533 |
| BHP | 40.000 | 0.540 | 40.000 | 40.060 | 39.800 | 40.120 | 39.780 | 8,947,694 |
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
Stocks buoyed by banks, miners
October 4 (AAP) Update The Australian stock market posted broad gains today on rising confidence about the outlook for the US and Chinese economies. The Australian dollar was hovering at just below 97 US cents.
The benchmark S&P/ASX200 Index ended the day up 46.1 points, or 1 per cent, to 4625.3 while the broader All Ordinaries Index was 43.7 points higher, or 0.9 per cent, at 4678.4.
Trading volumes were less than half the daily average, as a public holiday in New South Wales, the ACT and South Australia sidelining many local investors.
On a sector-by-sector basis, financials were up 1.3 per cent, while materials rose 1.1 per cent and energy stocks 0.9 per cent.
· The Australian dollar slipped below 97 US cents
· Asian stocks rise to a two-year high
· Gold futures edge higher to $US1319 an ounce
· Oil futures were steady above $US81 a barrel
· Dow stock futures were up 2 at 10,770 points
''The local market posted solid gains today helped by positive leads from the US over the weekend,'' Australian Stock Report head of research Geoff Saffer said.
''Banking was the strongest sector, while miners were also strong with base metal prices closing strongly on Friday.''
''The rest of the market saw a general bullish mood following positive US consumer data on Friday.''
Of the major miners, BHP Billiton gained 54 cents, or 1.37 per cent, to $40.00 and Rio Tinto added 78 cents to $78.08.
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Gold glitters
Commodity prices remain strong, with gold setting a record high on Friday and oil settling at more than $US80 a barrel.
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Preliminary market turnover was 1.8 billion shares changing hands for $2.7 billion, with 552 shares up, 474 down and 342 unchanged.
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The Reserve Bank of Australia will meet tomorrow to decide whether to increase the overnight cash rate from the current 4.5 per cent. Markets rate the RBA a 3-in-4 chance of lifting its key cash rate to 4.75 per cent at the board meeting.
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On the Sydney Futures Exchange, the December share price index futures contract points grew 54 points to 4,640, on a volume of 21,927 contracts.
Global
Most Asian Stocks Rise on China Growth Hopes; Japan Banks Fall
Oct. 4 (Bloomberg) -- Most Asian stocks rose as speculation growth in China's economy will bolster corporate earnings in the region overshadowed concern that Japanese banks will need to raise more capital.
Dongfeng Motor Group Co. climbed 2.5 percent in Hong Kong after China's premier said the nation will stabilize its economy by increasing domestic demand. BHP Billiton Ltd., the world's No. 1 mining company, increased 1.4 percent in Sydney on optimism commodity demand will rise. Hyundai Motor Co. rose 1.3 percent in Seoul after its U.S. sales rose to a record for September. Mizuho Financial Group Inc. slumped 5.9 percent in Tokyo on concern Japanese banks may need to increase their capital.
The MSCI Asia Pacific Index gained 0.2 percent to 127.27 as of 8:29 p.m. in Tokyo, with 24 stocks advancing for every 23 that declined. The gauge has climbed 17 percent from its low this year on May 25.
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The Hang Seng Index jumped 1.2 percent in Hong Kong, where the stock market was closed on Oct. 1 for a holiday. Chinese markets are shut this week.
Japan's Nikkei 225 Stock Average lost 0.3 percent, while the broader Topix index fell 0.9 percent. Australia's S&P/ASX 200 Index rose 1 percent, and South Korea's Kospi index increased 0.1 percent.
U.S. Consumer
Futures on the Standard & Poor's 500 Index fell 0.3 percent. The index climbed 0.4 percent on Oct. 1 in New York after Commerce Department data showed consumer purchases for August exceeded projections by economists surveyed by Bloomberg News. Incomes gained 0.5 percent, the biggest advance this year. The Thomson Reuters/University of Michigan measure of consumer confidence declined less than forecast, signaling the largest part of the economy may be stabilizing.
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The London Metal Exchange Index of six industrial metals including copper and zinc rose 1.1 percent on Oct. 1 to its highest level since April. Oil futures also climbed in New York on Oct. 1, gaining 2 percent on speculation fuel demand from the U.S., the world's biggest crude consuming nation, may recover.
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"Money is flowing into riskier assets, including commodity-related shares," said Junichi Misawa, head of equity investment at Tokyo-based STB Asset Management Co., which oversees about $14 billion.
Stocks in Hong Kong rose after China's Premier Wen Jiabao said in an interview with CNN the nation will stimulate domestic demand to stabilize and further expand its economy. The program was taped Sept. 23 in New York and broadcast on Oct. 3.
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Japanese banks weighed on the MSCI Asia Pacific Index's gains after a Swiss government-appointed panel today said UBS AG and Credit Suisse Group AG, Switzerland's two biggest banks, need to hold almost double the capital required under Basel III rules.
Mizuho Financial, Japan's third-largest publicly traded bank by market value, retreated 5.9 percent to 112 yen. Mitsubishi UFJ Financial Group Inc., the country's No. 1 bank, slid 2.6 percent to 382 yen. Sumitomo Mitsui Financial Group Inc., the No. 2, dropped 2.9 percent to 2,378 yen. The companies were the top three drags on the MSCI Asia Pacific Index.
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Europe Stocks Fall Before Factory Orders; Emerging Markets Gain
Oct. 4 (Bloomberg) -- European shares fell, driving the Stoxx Europe 600 Index to its longest losing streak since January 2009, and U.S. index futures slid before reports that may show slowing factory orders. The benchmark stock index for emerging markets rose to the highest level since June 2008.
The Stoxx 600 dropped 0.3 percent at 9:09 a.m. in New York, while futures on the Standard & Poor's 500 Index lost 0.3 percent. The euro weakened against all but two of its most- traded counterparts. The yield on the two-year Treasury note fell to a record 0.3987 percent and the German 10-year bund yield slipped 3 basis points to 2.26 percent. The MSCI Emerging Markets Index advanced 0.4 percent, while oil futures recovered after retreating below $81 a barrel in New York.
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Copper Gains to Near 26-Month High on Chinese Demand Prospects
Oct. 4 (Bloomberg) -- Copper climbed for a second day, trading near a 26-month high, on speculation supply may lag behind demand as the consumption outlook improves in China, the world's largest user. Nickel advanced to a five-month high.
Copper for three-month delivery on the London Metal Exchange gained as much as 0.8 percent to $8,162 a metric ton, and traded at $8,150 at 12:09 p.m. Singapore time. The contract rose as high as $8,178 a ton on Oct. 1, the highest level since July 22, 2008. Futures for December-delivery on the Comex in New York added as much as 0.6 percent to $3.7140 a pound. The Shanghai Futures Exchange is closed till Oct. 7 for the National Day holiday.
China will address "structural problems" and stabilize its economy by increasing domestic demand, Premier Wen Jiabao said in an interview with CNN yesterday. Wen also said he'd argued before the global recession that China's economic development "lacks balance, coordination and sustainability."
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Refined copper output will lag behind demand by 435,000 metric tons next year, the first shortage since 2007, according to the International Copper Study Group. The surplus is estimated at 200,000 tons this year and 166,000 tons for 2009, it said on Oct. 1.
Inventories monitored by the London Metal Exchange, down 26 percent this year, are at the lowest level since Nov. 3. Copper stockpiles tallied by the Shanghai Futures Exchange dropped to the lowest level in more than a year last week.
Aluminum and zinc in London were little changed at $2,356 a ton and $2,230 a ton respectively. Nickel climbed as much as 0.9 percent to $24,050 a ton, the highest price since May, lead gained 0.4 percent to $2,304 a ton and tin hadn't traded as of 12:20 p.m. in Singapore.
<Mogi & Friends Fund A/C>
How a tenth of a cent makes a difference
Mogi & Friends Fund is a tiny fund of $6,000 I created with a few friends to put my own (and few friends') money where my mouth (just mine) is.
Exactly how much? How about more than one percent. Imagine what difference a cent would make on my investment. Well, this is penny stocks for you.
My stock gained exactly that, tenth of a cent today, the 4th day, to make it 9.29% gain overall.
And once again I have to mention that copper play in Brazil. Let's just say you'd be a millionaire in 15 days if you had $150K.
Mogi
"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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