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Monday, October 11, 2010

[cpsnewswire] [CPS NewsWire, Monday, October 11, 2010]

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.

 

 

Winsway shares retreat on HK market debut

HONG KONG Oct 11 (Reuters) - Shares of Chinese coking coal logistics company Winsway Coking Coal Holdings Ltd (1733.HK) fell 5 percent on their Hong Kong trading debut on Monday, following a $473 million initial public offering.

Winsway's weak debut comes after London-listed gold miner Petropavlovsk Plc's (POG.L) iron ore unit IRC Ltd halved the size of its Hong Kong IPO because of disappointing demand.

Shares of Winsway fell as low as HK$3.35 during morning trading, down about 9 percent from its offering price of HK$3.70. By the midday trading break it was at HK$3.51. The offering was priced slightly below the middle of its indicative range.

"A flurry of stock offerings have been scheduled in October. Investors are keen on consumer and pharmaceutical stocks, and some have reserved money for AIA's IPO," said Steven Leung, director of institutional sales at UOB-Kay Hian.

More than 20 companies have raised funds from the market in the last two months, including AIA Group Ltd's up to $20.5 billion IPO with upsize and greenshoe options.

"Winsway is not a miner. Investors prefer buying into miners, due to commodities price surges against the weak U.S. dollar," Leung said.

Winsway accounted for about 65 percent of total Mongolian coal imports into China in 2009, based on SXcoal import data.

Link to article

 

 

Oyu Tolgoi LLC Announces appointment of new President and CEO

October 8 (ot.mn) Oyu Tolgoi LLC, owner and operator of Mongolia's largest gold and copper mining project, announced the appointment today of a new President and CEO, Mr. Cameron McRae. Cameron McRae will take over the position on 1 December 2010 from current President and CEO, Keith Marshall, who has managed the Oyu Tolgoi project for almost three years.

Cameron McRae joins Oyu Tolgoi from Rio Tinto's subsidiary Richards Bay Minerals in South Africa where he was Managing Director and CEO. He joined Rio Tinto in 1986 and has worked in the steel, copper, coal, diamonds and industrial minerals divisions as well as performing various corporate roles. He has been based in Africa for the last 5 years.

Mr. Marshall will be relocating back to the UK, where he will be taking up a senior role with Rio Tinto in London.

Cameron McRae said: "I am honoured and excited by the opportunity to lead the Oyu Tolgoi project. This is a huge endeavour and critical to Mongolia's economic development. I am looking forward to working with the Mongolian Government and other shareholders, our project team and key contractors to build the Oyu Tolgoi mine and facilities, and to deliver the infrastructure required to support this important venture."

Cameron McRae

Cameron McRae (51) was born in Melbourne, Australia. He was schooled in Australia and Zambia. His first job was as a Commercial Graduate with BHP, in Australia. Cameron then moved to Humes Limited, a concrete product-making company, where he became State Accountant. Leaving Australia, he moved to Bougainville, Papua New Guinea. He initially worked on business development for the Bougainville Development Corporation for a year, before joining Bougainville Copper Limited. Cameron worked in internal audit, systems development and latterly as Planning Manager. Five years later Cameron moved to Taiwan as Business Development Manager before moving to the Corporate Strategy section of CRA Limited in Melbourne.

In 1995 he was part of the team that saw the establishment of the merger/dual listing between RTZ plc and CRA Ltd that created Rio Tinto. In 1997 Cameron moved to Brisbane where he established the Business Systems Group, responsible for setting up and installing SAP systems throughout Rio Tinto's business units. 2001 saw him move to Rio Tinto Coal Australia, firstly as Chief Financial Officer, then as General Manager, Corporate Development and finally General Manager Hail Creek Expansion where he led an expansion project, which saw the coal mine double its size. In 2006, he was appointed as the Managing Director of Murowa Diamonds in Zimbabwe, and in 2008 was transferred to Richards Bay Minerals as Managing Director and CEO.

Link to announcement

 

 

Voyager Hits Historical High

October 11 (Mogi) Voyager Resources (ASX:VOR) hit an all-time today, hitting an intra-day high of 4.7c, up 0.7c, before closing at 4.4c, 10% higher than previous close.

CPS Securities was Lead Manager and Underwriter in Voyager's past fundraisings.

 

 

SharynGol JSC Completes Drilling Phase of JORC Exploration Program: New Coal Seams Discovered

ULAANBAATAR, MONGOLIA--(Marketwire - October 10, 2010) - SharynGol JSC is pleased to announce the successful completion of a 16,000 meter diamond drilling program, with the aim of establishing a JORC standard resource over the Company's mining lease.

The drilling has proved all of the coal seams identified by historic Soviet drilling, as well as encountered several previously undiscovered coal seams, representing an important new discovery. An international mining consultancy has been engaged to produce a three dimensional model of the coal seams. The consultant's report, which will include a revised resource estimate, is expected to be released later in the year. Management anticipates that the report will demonstrate a significant increase in coal resources for the project.

Early laboratory results are encouraging, with most coal samples returning calorific values of over 7,000 kcal/kg on an air dried ash free basis. This result is consistent with Management's belief that much of the remaining coal resource is of type, high-grade thermal coal.

About SharynGol JSC

SharynGol JSC (MSE: SHG MO) has a coal mining operation located in Northern Mongolia. It currently owns and operates 100% of the established SharynGol Coal Mine. The Company was privatized and listed on the Mongolian Stock Exchange in 2003.

The Company has been mining coal at SharynGol for over 45 years, supplying domestic and export customers with coal for thermal and semi-coking (smokeless fuel) uses.

A dedicated rail spur links the mine to the Trans-Mongolian railroad, currently Mongolia's main railway connecting Mongolia to the major markets of Russia and China. This exclusive access to the rail spur provides the Company with a significant competitive advantage over the majority of coal mining operations in Mongolia.

Link to release

 

 

SharynGol JSC Releases Ernst & Young Audited IFRS Financials for Year End 2009

ULAANBAATAR, MONGOLIA--(Marketwire - October 7, 2010) -  In line with SharynGol's initiatives to act as a market leader for transparency among Mongolian Stock Exchange ("MSE") listed companies, management is pleased to announce that Ernst & Young has completed the audit of SharynGol's 2009 accounts. The Ernst & Young audited accounts will not replace the 2009 accounts already approved by the board and shareholders. Instead, the accounts represent an important milestone in management's continued efforts to bring the company into compliance with global standard for business practices.

To the best of management's knowledge this marks the first time that a MSE listed company has produced and made available to shareholders audited financial statements by a Big Four international accounting firm.

Further information regarding SharynGol, including a copy of its financial statements, can be found at www.sharyngol.com.

Link to release

 

 

Golden touch

Mogi: Article on North Asia Resources (HK.0061)

October 11 (The Standard, HK) If there is a great time to be in metals - any metal in fact - it is now.

Gold and tin prices have soared to record highs while a weak US dollar has led to a surge in demand, with prices of both base and precious metals rising significantly.

Meet Joseph King Jun-chih, an accounting graduate from the State University of New York, who entered the world of minerals five years ago when he invested in a mine in the mainland.

King, 43, and a friend founded North Asia Resources, which was acquired by Green Global Resources (0061) in July last year.

Green Global, which used to be an agricultural and information technology firm, appointed King as chairman in March. A month later it reverted to the name North Asia Resources, focusing on mining.

Since Green Global's acquisition, North Asia has been busy in Mongolia which has large reserves of minerals.

North Asia owns and operates an iron ore and copper mine and two gold mines in Mongolia.

The Oyut Ovoo iron and copper mine in south-central Mongolia has already produced 20,000 tonnes of iron ore for trial production, King said, while 1,200 grams have been dug out from the gold mines.

North Asia has big ambitions.It is aiming to position itself as the BHP Billiton of Mongolia, and be the gateway for the transfer of resources from Mongolia to China.

"No pain, no gain" is King's motto as he tries to steer the firm into a leadership role.

To achieve this the management team has to be on its toes.

So two of the three executive directors - deputy chairman Chan Kwan-hung and executive director Michael Tse Nam - are based in Mongolia to keep a firm grip on supervision and management.

"We have to be there to learn about the local environment, law, local conditions and customs," King said. "We want to send a strong signal to our partners that our management team is not there for sightseeing. We are committed."

The firm has an advisory board, packed with world-class mining experts.

"It took us only six months, from the acquisition to the initial blasting. We have legal and government approval to proceed," King said, noting that in Australia, the same process could take years.

King said projects can get off the ground quickly in Mongolia because of the government's keen interest in foreign investment.

"Mongolia is a mining-friendly country with laws that allow co- production and joint ventures for mining projects," he said.

King said Mongolia also has geographical advantages.

"The Gobi desert, which covers 33 percent of the country, is three times larger than France, which is good for the mining industry."

But not all is rosy.

The biggest problem for doing mining business in Mongolia is transportation, King said.

"Most of the country is uninhabited and there used to be only one railway built by the Russians decades ago."

The gauge of the track in Mongolia is wider than in China, "so the iron ore couldn't go anywhere if we did not solve the transportation problem."

North Asia then decided to team up with China Railway Mongolia, a subsidiary of China Railway (0390).

Under their agreement, China Railway Mongolia will purchase 1.5 million tonnes of iron ore from North Asia at the prevailing market price each year and transport at least 2.5 million tonnes for North Asia to Erenh on the Mongolian-China border every year.

King is glad that North Asia had the foresight to list on the Hong Kong stock exchange.

Many Mongolian resource firms are now trying to follow suit because of the growing interest in the country's bountiful resources.

The North Asia chairman is also full of praise for his staff, but admits that when it comes to salaries, his firm cannot compete with mining giants such as BHP Billiton or Brazil's Companhia Vale do Rio Doce. But North Asia makes up for this through its corporate culture and care for employees.

"Besides a bonus, our employees can travel overseas." Whenever an employee has to go on a long business trip, his wife gets a fruit basket as a token of appreciation for his dedication.

Link to article

 

 

Petro Matad hits new high on initial Davsan Tolgoi follow-up well results

(Mogi: MATD hit a historical high of 200p on October 6, but closed the day at 176.5p, up by 5.5p.

October 6 (Proactive Investors UK) Petro Matad (LON:MATD) shares made another new high this morning, after the Davsan Tolgoi follow-up well found 'significant hydrocarbons'.

Davsan Tolgoi 2 (DT2) was drilled on the same structure as the DT-1 discovery well, which encountered a 71m thick section of the targeted Tsagaantsav formation back in July.

"It is significant that DT-2 encountered hydrocarbons over the stated intervals," Petro Matad chief executive Douglas McGay said.

"[This] provides further proof that the Davsan Tolgoi anticline has been charged with oil and gas which has migrated out of the deeper hydrocarbon-generating kitchens."

Petro Matad's stock has more than trebled in value since the DT-1 well made the discovery on Block XX in Eastern Mongolia - soaring from just under 60p in July to an all time high of 199p late this morning.  By midday, Petro Matad was trading up 3.2% on the day at 176.5p.

In its 'Daily Oil & Gas Filter' Westhouse Securities called today's news "a very encouraging result, as it derisks both the Davsan Tolgoi anticline and the surrounding structures".

With the recent fundraising, the company has the money to both undertake significant appraisal drilling on Davsan Tolgoi and drill the surrounding structures. However, with winter approaching, most of these wells will be drilled in the 2011 season, the broker said.

"On the back of this result we are raising our price target to 250p and retaining our BUY recommendation," Westhouse added.

DT-2 was drilled to 1,336m, and preliminary analysis has indicated the presence of significant hydrocarbons in three intervals in the lower 275m of the well.

The well encountered the Tsagaantsav formation (its primary target), the overlying Upper Zuunbayan formation and the underlying Sharilyn formation.

Petro Matad said that initial results indicate that both DT wells share a common hydrocarbon column in the Tsagaantsav Formation.

The company also noted that the Tsagaantsav reservoir is better developed in DT-1, and this reservoir variation is being integrated into the interpretation of the 3D seismic data.

"While the interval of oil shows within the Tsagaantsav formation is not as appreciable as encountered in DT-1, the total hydrocarbon column and the extra zones outside of that formation are very encouraging," McGay added.

The first two wells were positioned on the crest and the flank of the Davsan Tolgoi anticline, next the third well will be drilled on the apex of the anticline.

The rig has already been mobilised to the Davsan Tolgoi 3 (DT3) site, 7.7 kilometres south-southeast of DT2.

With DT3 Petro Matad intends to test the full height of the hydrocarbon column.

The next well has a target depth of 1,205m.

Link to article

Link to original announcement

Mogi: MATD trading at 146p today, October 11, as of 12:16pm London time.

 

 

Outotec Oyj: Outotec cooperates with National Development Corporation of Mongolia to develop Mongolian mineral deposits

OUTOTEC OYJ  PRESS RELEASE, OCTOBER 6, 2010 AT 3.30 PM

Outotec cooperates with National Development Corporation of Mongolia to develop Mongolian mineral deposits

Outotec has entered into cooperation with National Development Corporation of Mongolia (NDC) to conduct a conceptual study for a copper smelter to be located in Sainshand, Mongolia. NDC is a consortium of the largest Mongolian private sector companies seeking to contribute in the industrial development of the country.

The cooperation agreement was signed during the visit of the President of Mongolia, Elbegdorj Tsakhia, to Finland. The Government of Mongolia plans to build an industrial complex in Sainshand to add value to mineral deposits such as Oyu Tolgoi copper deposit and to diversify the economy.

"Outotec's portfolio of advanced technologies covers the whole processing chain from minerals to metals. We were chosen as the technology partner for developing the Mongolian mining and metallurgical industry because of our leading technological capabilities and our strong reputation in delivering complete solutions to our customers", says Outotec's CEO Pertti Korhonen"

Link to Press Release

 

 

MMC and Winsway IPOs raise a combined $1.1 billion

Mongolian Mining prices its offering at the mid-point for a total deal size of $650 million, after Winsway raised $472 million from its Hong Kong IPO at the end of last week.

October 6 (Finance Asia) Mongolian Mining Corp has raised HK$5.05 billion ($650 million) after pricing its Hong Kong initial public offering at the mid-point of the range and will become the first Mongolian-owned company to trade on the Hong Kong stock exchange when it debuts on October 13

It is also the largest initial public offering in Hong Kong since Agricultural Bank of China's record-breaking dual-listing in July, although that won't last long since AIA Group kicked off the institutional marketing for its IPO yesterday, which is targeting as much as $14.9 billion from the base deal alone (see separate story on our website today).

While MMC was a bit slower than some other deals to gain momentum, investors did warm to the coal miner after meeting with the management and getting a better grasp of the company and its expansion plans. In the end, more than 100 institutional investors bought into the transaction.

Two hurdles that the management had to overcome were the poor performance of SouthGobi Energy Resources since its listing in Hong Kong in January and the fact that Winsway Coking Coal was in the market at the virtually the same time, arguing that MMC, contrary to the company's own claims, will continue to need its services for at least part of the coal it is producing for some time yet.

The first concern was allayed quickly as institutional investors recognised the fact that SouthGobi, a Canadian company with coal mining operations in Mongolia, is still at the developing stage, making the execution of its production plans less certain. MMC also has much firmer feasibility studies to back up its expansion. That said, many retail investors have lost money on SouthGobi, which is currently trading 40% below its listing price after struggling to meet the projections it laid out at the time of the Hong Kong share offer.

Winsway is a logistics provider focusing on the coking coal industry in Mongolia. It provides transportation of coal by rail and truck to the buyers (steel mills in China), helps facilitate the border crossing into China and provides washing and blending services. It is closely linked to MMC since the latter has, until now, been selling a large portion of its coal through Winsway as it does not currently have its own washing facilities. This is about to change, however, as MMC is in the process of constructing a washing plant, which is scheduled to come on stream by March next year and, during the early part of their respective roadshows, the two companies were facing off in a verbal battle about how this will impact their respective businesses. Investors tried to take advantage of this by playing them against each other to achieve a more attractive price, but in the end, it seems the questions posed in both directions may actually have made investors more comfortable to invest.

Investors also seem to have come to the conclusion that both businesses have a future and will continue to benefit from the growing demand for steel -- and hence coal -- in China, as Winsway too attracted decent demand. The latter fixed the price of its IPO at the end of last week, raising a total of HK$3.66 billion ($472 million). According to sources, the demand from retail and private banking investors was particularly strong and the Hong Kong public offer was just over 40 times covered, resulting in a partial clawback that increased the size of the retail tranche to 30% from 10% originally.

The fact that Winsway is owned by a Chinese entrepreneur may have made retail and high-net-worth investors more comfortable to invest, and the support from high-profile pre-IPO investors like Hopu, a China-focused private equity fund run by former Goldman Sachs investment bankers Fang Fenglei and Richard Ong, and China Minmetals, a state-owned Chinese trader and producer of metals and minerals, likely also played a role. Winsway also came at a cheaper valuation than MMC, which obviously didn't hurt.

MMC is controlled by the MSC Group, a Mongolian conglomerate that is the largest tax payer in the country and a market leader in numerous businesses.

MMC's retail tranche was about 10 times covered, according to sources, which means there was no clawback and 90% of the deal was allocated to institutional investors. The majority of the demand came from long-only funds, but there was also good interest from private banks, and hedge funds, both short-term trading-type hedge funds and more long-term buyers. Geographically, most of the demand was generated out of Asia and the deal was already covered once the roadshow reached Europe, but according to sources, there was also strong demand out of Europe. The institutional tranche was five to eight times covered.

The coal miner, which is planning to ramp-up of its production capacity to 15 million tonnes by 2015 from 3.8 million tonnes this year, sold 719.4 million shares, of which 83% were new. The base deal accounted for 20% of the enlarged share capital, but there is also a 15% greenshoe which could boost the total proceeds to as much as $748 million.

The price was fixed at HK$7.02 after the shares were marketed in a range between HK$6.48 and HK$7.56. The entire price range was lifted by about 3% just before the start of the Hong Kong public offering in response to the good demand and to allow the company to reach a particular fundraising target even if the greenshoe isn't exercised. The final price values the company at 12.6 times its projected earnings for 2011, which compares with an average price-to-earnings multiple of 12.9 for the Chinese coal miners.

The deal was arranged by Citi and J.P. Morgan.

Winsway sold 25% of its share capital in the form of 990 million new shares. The deal also features a 15% greenshoe that is made up entirely of secondary paper and could boost the total deal size to $542 million if fully exercised. The price was fixed at HK$3.70 after being offered in a range between HK$3.25 and HK$4.50. The final price equals a 2011 P/E ratio of 9.1 times.

Winsway is scheduled to start trading a couple of days earlier than MMC, on October 11. Deutsche Bank, Goldman Sachs and Bank of America Merrill Lynch were joint bookrunners.

Link to article

Related article: Mongolia confident IPO will ease doubtsFinancial Times, October 5, 2010

 

 

Cuba and Mongolia Sign Friendship Agreement 

HAVANA, Cuba, Oct 5 (acn) The Cuban Friendship Institute (ICAP) signed an agreement with the Mongolian Union of Friendship, Peace and Solidarity with the Peoples (UMPA) on Monday in the city of Ulan Bator to work together for world peace.

The agreement highlights the need to continue supporting the fight for the release of five Cuban antiterrorist fighters who are imprisoned in the United States: Gerardo Hernandez, Rene Gonzalez, Ramon LabaƱino, Antonio Guerrero and Fernando Gonzalez.

The two organizations agreed to continue fighting for world peace and strengthening relations between Cuba and Mongolia, says a press release by ICAP.

Present in the meeting were ICAP's vice president Alicia Corredera, ICAP's Asia and Oceania director Alberto Blanco Silva and Cuban ambassador to Mongolia Maria Hortensia Febles Mirabal.

On the Mongolian part, participated UMPA president D. Tsakhilga and the president of the Cuba-Mongolia Friendship Association, Reverend Ch. Dambajav and young Mongolians who studied in Cuba. 

Link to article

 

 

Mongolia considering visa on arrival for Indian businessmen

October 8 (The Hindu) The Mongolian government is considering issuing visa on arrival for Indian businessmen, said its Ambassador to India, Voroshilov Enkhbold, here on Thursday.

Addressing members of the Southern India Chamber of Commerce and Industry (SICCI) in a bid to promote trade between India and Mongolia, he invited Indian businessmen to invest in priority sectors such as mining, healthcare, ICT, tourism, entertainment, agriculture, oil and infrastructure that had not been tapped fully.

"Mongolian government encourages investment in priority sectors and grants tax incentives to foreign direct investment. Indian businessmen investing in infrastructure will get income tax exemption for the first 10 years and 50 per cent tax relief for subsequent five years. Foreign businesses exporting more than 50 per cent of production are entitled to corporate IT exemption for the first three years and 50 per cent tax relief in the subsequent three years," he said.

Mr. Enkhbold said that he would be interacting with the Civil Aviation Ministry for early implementation of direct connectivity between the two countries that was signed some 10 years ago.

Jawahar Vadivelu, vice-president, SICCI, said that bilateral trade between India and Mongolia in 2009 was $12.7 million, of which $11.7 million formed Indian exports to Mongolia. SICCI would be leading a 40-member delegation to Mongolia during June 2011 to promote two-way trade.

Link to article

 

 

Australia

Close: Mongolia Related ASX Listed Companies, October 11, 2010

Code

Last 

$ +/-

Bid

Offer

Open

High

Low

Volume

HUN

0.870

 0.035

 0.870

 0.880

 0.840

 0.895

 0.840

 506,596

VOR

 0.044

 0.004

 0.044

 0.045

 0.041

 0.047

 0.041

 48,997,022

LRL

 0.230

 0.020

 0.220

 0.230

 0.210

 0.230

 0.205

 726,222

AKM

 0.140

 -0.010

 0.140

 0.145

 0.150

 0.150

 0.140

 838,338

GMM

 0.185

 0.005

 0.170

 0.185

 0.185

 0.185

 0.180

 206,000

LEI

 36.340

 0.610

 36.320

 36.340

 35.980

 36.470

 35.920

 943,537

RIO

 80.090

 0.540

 80.050

 80.100

 80.000

 80.470

 79.920

 3,421,176

BHP

 41.450

 0.450

 41.450

 41.470

 41.100

 41.510

 41.100

 10,486,284

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

 

Commodities nudge stocks to 5-month high

October 11 (AAP) Update Australian stocks advanced to a fresh five-month closing high, propelled by commodity producers.

The benchmark S&P/ASX200 index ended the day up 16.1 points higher, or 0.3 per cent, at 4697.5 while the broader All Ordinaries Index added 21.6 points, or 0.5 per cent, to 4762.1 points.

On a sector-by-sector basis, materials added 1.2 per cent, gold miners 1.1 per cent and energy stocks rose 0.9 per cent. Financial stocks were basically flat while consumer staples lost 1 per cent.

What you need to know:

-      The Australian dollar was buying 98.7 US cents

-      Asian stocks advance on Fed cash hopes

-      Gold rose to $US1353 an ounce

-      Oil futures rose above $US83 a barrel

-      Dow futures were up 6 points to 10,953

City Index head of dealing Asia Pacific Michael McCarthy said strong price rises for copper and aluminium on Friday had boosted the mining sector.

''The global miners are solidly higher, but it is the medium to small resource stocks that are doing particularly well,'' Mr McCarthy said.

BHP Billiton was up 45 cents, or 1.1 per cent, at $41.45 while Rio Tinto put on 54 cents to $80.09.

"Volumes were thin today. I expect Wall Street will be quiet tonight given the Columbus Day public holiday. Activity should start to pick up mid-week ahead of the release of the (US Federal Reserve's) minutes and trade data due out from China," said David Taylor, market analyst at CMC Markets.

Preliminary market turnover amounted to 2.73 billion securities worth $4.48 billion, with 673 stocks up, 515 down and 346 unchanged.

''Volumes are down on last week's surge, suggesting major investment houses are largely on the sidelines today,'' Mr City Index's McCarthy said.

On the Sydney Futures Exchange at 1616 AEDT, the December share price index contract was 14 points higher at 4,709 points, with 18,816 contracts traded.

Link to article

 

 

Misc

Mongolia consolidates its young democracy

October 11 (China Post) After nearly a century of history, the Mongolian People's Revolutionary Party, has recently decided to change its name to Mongolian People's Party (MRM). By deleting "revolution," the party leaders hope to connect with the Mongolians who want freer and unorthodox lifestyle. The purpose is to win the next election scheduled in 2012.

Link to article

 

 

Mongolian Delegation Makes Local Stop

October ? (Hillsboro Reporter) A delegation of officials from Mongolia was in Hillsboro recently as part of the Asian Judicial Institute (AJI) at Texas Wesleyan University School of Law.

The country had a bloodless revolution in 1992 following the break up of the USSR and a democratic government replaced the communist regime.

It continues to work to set up an independent judiciary as part of its democracy, which was the focus of the latest trip.

The delegation was led by Dr. Biraa Chimid, Gombosuren Ganzorig and Dashjamts Battulga.

Dr. Chimid is considered the father of the Mongolian constitution, and his daughter, Sanzaiya, served as interpreter for the group.

Ganzorig is legal advisor to the president of Mongolia and former member of the Mongolian Supreme Court, and Battulga is chief of staff for the president.

The delegation also met with Governor Rick Perry, members of the Texas Supreme Court and Texas Ethics Commission in Austin during its trip.

Link to article

 

 

<Mogi & Friends Fund A/C>

No men left behind

Mogi & Friends Fund is a tiny fund of $6,000 I created with a few friends to put my own (and a few friends') money where my mouth (just mine) is.

Mogi: A few of my men were left stranded. I was hoping prices go down to pick up my men and go back up again. But my heart just couldn't leave them stranding, so I raised made the sacrifice, raised the bounty on their heads and had them safely delivered . All my men are safely tucked away. No men left behind.

Mogi

 

---

"Mogi" Munkhdul Badral

Executive Director

CPS International

CPSI Logo (Small).JPG

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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