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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| Close: Mongolia Related ASX Listed Companies, November 22, 2010 |
| |||||||
| Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
| HUN | 1.080 | -0.040 | 1.060 | 1.090 | 1.100 | 1.130 | 1.065 | 1,252,161 |
| VOR | 0.039 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0 |
| ALG | 0.420 | 0.000 | 0.420 | 0.500 | 0.000 | 0.000 | 0.000 | 0 |
| AKM | 0.375 | 0.040 | 0.370 | 0.375 | 0.350 | 0.375 | 0.345 | 5,709,995 |
| GMM | 0.110 | -0.010 | 0.110 | 0.120 | 0.110 | 0.110 | 0.110 | 205,000 |
| LRL | 0.240 | -0.010 | 0.240 | 0.245 | 0.245 | 0.245 | 0.240 | 686,300 |
| LEI | 32.450 | 0.060 | 32.300 | 32.490 | 32.480 | 32.500 | 32.300 | 547,956 |
| RIO | 84.720 | 0.420 | 84.680 | 84.720 | 85.000 | 85.480 | 84.370 | 2,072,688 |
| BHP * | 43.880 | 0.270 | 43.850 | 43.920 | 44.000 | 44.180 | 43.780 | 7,762,872 |
An * next to the security code indicates there has been an announcement today relating to that security. Click on the * to view the announcement.
Source: asx.com.au
Hunnu Coal Best Australian IPO 2010 by Resource Stocks Magazine
November 22 (Mogi) Hunnu Coal Limited (ASX:HUN) was selected as the Best Australian IPO of 2010 last week by Australia's Resource Stocks Magazine in its soon to be published Best of the Best 2010 edition.
More info will be distributed as it is known.
Mongolia Reviews Mine Licenses
November 20 (WSJ) HONG KONG—Mongolia's government is reviewing a list of more than 1,700 mining licenses to be terminated under regulations aimed at protecting the environment, a senior official said Friday.
Dashdorj Zorigt, Mongolia's minister for mineral resources and energy, also confirmed that the government was suspending 254 gold-mining licenses to conform with the law.
The Water and Forest Law prohibits mining activities in water basins and forest areas of the landlocked desert country of fewer than 3 million people, where water in scarce supply. Since the law was passed in July 2009, the government has conducted surveys to see what licenses might be affected.
The number of licenses to be reviewed for termination compares with a total of about 4,000 mining licenses that the country has issued to date. Regulations have been established to compensate license-holders facing losses as a result of the law, Mr. Zorigt said.
Michael Waring, a fund manager who specializes in mining stocks for Toronto-based Galileo Global Equity Advisors, said the review shouldn't be viewed as an attack on foreign miners.
"Mongolia is only really moving towards where the rest of the developed mining world is already at, in terms of protecting watersheds," he said in an interview on Friday.
…
"Lots of Mongolian land is tundra," said Mr. Zorigt. "It is difficult to rehabilitate. Forest is easily damaged." He called the termination of the licenses a response to a "difficult situation."
On Thursday, shares of Toronto-listed Centerra Gold Inc. fell 7% on concerns that the company would be impacted by the revocation of mining licenses in Mongolia. Shares rebounded on Friday, rising 2.9% to 16.50 Canadian dollars ($16.17) in 4 p.m. trading.
Centerra issued a statement Thursday saying that it has four alluvial gold-mining licenses on the list of those to be revoked, but none were material to the company's business. Alluvial gold refers to gold dust found in sand, silt or other substances deposited by flowing water.
The company noted that its principal Gatsuurt hardrock mining license wasn't listed among those licenses to be revoked.
The names of companies whose licenses are to be terminated haven't yet been made public but would be at a later date, Mr. Zorigt said.
Work is now taking place to sort out which of the nongold licenses under review will be terminated. Some may be partially terminated, Mr. Zorigt said, in cases where only part of the area covered by the license is in violation of the law. Some mines may be classified as strategic deposits, in which case they could be exempted from the law, though the government would then acquire an equity stake in the project.
Link to related articles:
Centerra Says May Be Hit as Mongolia Plans to Revoke Permits – Bloomberg, November 19
MEC Licenses not Affected
November 22 (MEC) There were recent news articles reporting that the Mongolian government would revoke at least 254 mining licences for gold across the country on environmental grounds. Upon preliminary enquiry with MEC's Mongolia legal advisers, none of the licences to be revoked involve MEC's licences.
…
Garrison Announces Results of Geophysics Survey at Tuvshir, Results of Shareholders' Meeting, Issuance of Shares for Debt and Loan Details
Mogi: GAU shares jumped as high as 55.5% to 7c in Toronto on Thursday to settle eventually at 5.5c or 22.2% up. Shares closed at 5c on Friday.
TORONTO, ONTARIO--(Marketwire - Nov. 18, 2010) - Garrison International Ltd. (TSX VENTURE:GAU) ("Garrison") is pleased to announce that the initial Induced Polarization Gradient Array (IPGA) geophysics survey has been completed over the major areas of interest within Garrison's Tuvshir Project's northern exploration and mining licenses. A Mongolian geophysics company, GPGD LLC, which specialises in Induced Polarization surveys was contracted to conduct the IPGA program. Approximately 90 line kilometres have been surveyed at average 100 metre line spacing. On site monitoring was done on each survey line using calibrated equipment with the company's Project Geologist overseeing the survey. The results can be seen below in figure 1 with Resistivity and Chargeability maps side-by-side for comparison.
…
An interesting relationship can be drawn between the Tuvshir results and Centerra's Boroo Gold Project, which is a world-class mine and is currently Mongolia's largest operating gold mine. Although the two projects are approximately several hundred kilometres apart they sit within the same regional thrust belt, which is host to Mongolia's major gold deposits. As seen in figure 2 below in the two images, again side-by-side, the chargeability highs in Centerra Gold's map display the same traits as those of the Tuvshir results, i.e. mineralisation is sitting in or on the margins of the chargeability highs.
…
Results of Shareholders' Meeting and Issuance of Shares for Debt
…
SouthGobi Continues Share Buyback Program
November 22 (Mogi) SouthGobi Resources (TSX:SGQ, HKG:1878) bought 18,800 of its own shares on November 18 and subsequently cancelled them on November 22.
This brings total shares bought since the share buyback program was announced this June to 371,600 or 0.202% of existing shares at the time of decision.
Mongolian resources lure world / Japan labors to strengthen ties, drawn by vast untapped reserves
November 22 (Yomiuri Shimbun) Japan is making a concerted effort to strengthen its relationship with Mongolia, one of the world's richest stores of minerals.
At summit talks held Friday, Prime Minister Naoto Kan and Mongolian President Tsakhia Elbegdorj agreed to begin negotiations as soon as possible to conclude a bilateral economic partnership agreement and accelerate joint development of uranium and rare earths.
However, China and other leading resource developers are also paying close attention to Mongolia, threatening Japan's hopes to take advantage of the abundant reserves in the central Asian nation.
…
Elbegdorj told reporters before the summit meeting that he was willing to develop rare earths and coal with Japan from the exploration stage and that he hoped Japan would actively invest in the development of mineral resources in his country.
Four leading Japanese trading companies--Itochu Corp., Sumitomo Corp., Marubeni Corp. and Sojitz Corp.--are planning to jointly participate in international bidding for the Tavan Tolgoi coalfield. With an estimated reserve of more than 6 billion tons, it is one of the largest in the world.
The bidding will be held this year.
Last year, Mitsubishi Corp. began exploration of a uranium mine with the French nuclear power group Areva.
Japan Oil, Gas and Metals National Corporation (JOGMEC) reached an agreement in July with the Mongolian government to jointly explore deposits of rare metals.
China biggest rival
Nearly 10 companies, including China's major coal firm Shenghua Group Corp., British-Australian BHP Billion and Brazil's Vale, are expected to bid for the development of the Tavan Tolgoi coalfield.
But the group of Japanese trading firms believes Elbegdorj's stance of treating Japan as "the third-closest nation to Mongolia" will be a tailwind for it in the upcoming bidding
…
Link to related articles:
Japan and Mongolia to jointly exploit rare earths – AFP, November 20
Japan, Mongolia Aim To Start FTA Talks In Early FY11 – Kyodo, November 19
Mongolian president expresses expectations for Japanese companies – Denki Shimbun, November 19
Lotus completes sale of Mongolian mining subsidiary
November 18 (StockMarketWire.com) - Lotus Resources has completed the sale of its Mongolian mining subsidiary, Lotus Minerals Mongolia, to Mongolian Minerals.
Lotus said the terms and conditions remain as announced on 29 October.
Lotus also said that as part of its repositioning and the development of its future strategy, it had appointed Gobind Sahney as executive chairman.
Sahney is managing member of GO Services, an investment management firm specialising in the purchase, trading, and recovery of stressed, distressed, and delinquent consumer and commercial receivable portfolios in the US, Europe, and Great Britain.
Australia
Shares edge higher but optimism ebbs
November 22 (AAP) Close Australian shares edged higher today, with initial investor enthusiasm over the Irish bailout and QR National's debut on the sharemarket fading during the afternoon.
At the close, the benchmark S&P/ASX200 index was up 14.3 points, or 0.3 per cent, at 4643.5, after earlier rising as high as 4672. The broader All Ordinaries index rose 14.1 points, or 0.3 per cent, to 4731.8.
Energy shares rose 0.7 per cent, materials gained 0.4 per cent and financials added 0.2 per cent.
"It's very quiet, still wait and see," said Tony Russell, senior equities adviser at RBS Morgans.
need2know:
- The dollar climbs to 99.24 US cents
- Asian shares rise on Irish bailout
- Oil inches up to $US82.40 a barrel
- Gold rebounds to $US1358 an ounce
- Dow futures are flat at 11,179
…
The major miners performed well, with BHP gaining 27 cents, or 0.6 per cent, to $43.88 and Rio Tinto climbing 42 cents, or 0.5 per cent, to $84.72.
Mr Bishop said the market had responded positively to news of a massive international bailout for debt-ravaged Ireland.
The bailout could reach between 80 billion and 90 billion euros ($111 billion and $125.3 billion), diplomatic sources have said.
''At least the Irish aren't going to go down the toilet overnight, so the market is mildly happy about that.''
…
Market turnover was a total of 2.9 billion shares changing hands for $5.425 billion, with 551 shares up, 531 shares down and 389 unchanged.
<Mogi & Friends Fund A/C>
58%, US$15K of New Investment
Mogi & Friends Fund is a tiny fund of soon to be US$21K I created with a few friends to put my own (and a few friends') money where my mouth (just mine) is.
Mogi: I'm happy to report that last Friday I have transferred A$15.7K after transfer fees to the fund's account thanks to a few more friends who were willing to taste a bit of speculative risk. A$10K of this will be spent on Haranga Resources IPO shares at 20c.
The rest is to be determined. My initial investment has proven a success, but I'm still reluctant to sell. Thus, there are two options:
1. Sell the shares and with the combined cash invest somewhere
2. Hold the stock and invest the leftover of more than A$5K separately.
Decision time is soon.
Mogi
"Mogi" Munkhdul Badral
Executive Director
CPS International LLC
Mobile: +976-99996779
Email: mogi@cpsinternational.mn
Suite 906, Central Tower
Sukhbaatar District, Ulaanbaatar
Mongolia
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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