Thursday, November 18, 2010

[cpsnewswire] CPSI NewsWire, Wednesday, November 17, 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 or +976-99996779.

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Close: Mongolia Related ASX Listed Companies, November 17, 2010




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 1.135  Down









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 0.435  Down









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 83.690  Down









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An * next to the security code indicates there has been an announcement today relating to that security. Click on the * to view the announcement.



ASX Announcements, November 17, 2010

-       Aspire Mining Ltd (ASX:AKM) – Investor Presentation – Strategic Partnership with SouthGobi Resources

-       Alamar Resources Ltd (ASX:ALG) – Company Update, Updated Timetable on Acquisition of Mongolian assets and capital raising.



Mongolia to Choose Tavan Tolgoi Coal Mine Contractor This Month

Nov. 16 (Bloomberg) -- Mongolia will use a bidding process this month to choose a contractor to mine in Tavan Tolgoi, a region with one of the world's largest untapped deposits of coal for making steel, a Ministry of Finance official said.

"The auction will be decided by the end of this month and the operation of the mine will be handed over as soon as possible, perhaps in December," Dorjkhand Togmid, deputy director-general at the ministry's development financing and cooperation department, said today in an interview in Tokyo. Togmid was attending a Mongolian-Japanese business forum.

New Railroad

Mongolia's railway policy calls for new track to be laid in the existing broad gauge or 1,520 millimeters (5 feet) that is also used in Russia, rather than China's standard gauge, according to presentation materials for a speech today by Chuluunkhuu Ganbat, adviser to the Minister of Road, Transportation, Construction and Urban Development.

The government plans to connect Tavan Tolgoi to the national rail network rather than build a direct link to China because authorities want to avoid dependence on their southern neighbor, New York-based said in August.

Link to article



EBRD to Loan US$150M to Centerra Gold

November 17, The FINANCIAL -- The European Bank for Reconstruction and Development and Centerra Gold Inc., – a North America-based gold-mining company and the largest foreign investor in the gold sector in Central Asia – have joined forces to develop Centerra's operations in the Kyrgyz Republic and Mongolia.

The EBRD will provide a three-year revolving corporate debt facility to Centerra of up to US$ 150 million (€112.5 million) to finance the company's development and potential acquisitions of mining assets in the region. 

"With the EBRD's support, Centerra is introducing new mining technologies and is supporting sustainable mining development initiatives around its areas of operation," EBRD said. 

"We are delighted to continue working with Centerra in support of its 15-year track record as the largest foreign gold-mining operator in Central Asia. This is an important regional investment expanding Centerra's operations," the EBRD's First Vice President Varel Freeman said.

In line with its country strategy for Mongolia, the EBRD focuses on developing a sustainable mining sector, agribusiness, financial institutions, property and beverage production. The Bank has been implementing over 20 projects with a total value of €936 million.

Link to article

Link to Centerra release




Nov. 17, 2010 ( --

Vancouver, B.C.: Meritus Minerals Ltd. (OOTC:MERMF) (TSXV:MER) (MML)(TSX-V - MER) has received analytical results from an additional eleven holes from its diamond drilling program on the Toordogiin Shil Prospect, Gutain Davaa Project in northern Mongolia.

Highlights from the eleven drill holes include:

a)TSD013 with 12.00m of 7.53gAu/t including 4.40m of 18.50g Au/t;

b)TSD021 with 13.80m of 3.67g Au/t;

c)TSD017 with 10.00m of 1.77g Au/t, and

Link to release



SouthGobi Share Buyback Continues

November 17 (Mogi) SouthGobi Resources Ltd.  (TSX:SGQ, HKG:1878), under its share buyback program announced this June, disclosed today that it has purchased 23,250 of its own shares on the Toronto Stock Exchange on November 16, at an average price of C$11. Year to date, Southgobi has purchased back 308,250 shares or 0.1676% of total issued capital at the time of program commencement.

Link to release



Korea's LIG building Choir-Sainshand Road

November 17 (Korea Times) LIG Engineering and Construction (E&C), one of the top-tier builders here in Korea, is changing the face of the Mongolian landscape, creating a highway, which traverses the central Asian country.

The Seoul-based company said Wednesday that the construction works are faring well to pave a 176 kilometer-long two-lane road from Choir, situated around 260 kilometers southeast of Ulaanbaatar, to Sainshand adjacent to the capital.

This May, LIG E&C won a $43.87 million order for the road in a hard-fought contest involving global players from China and Russia. The entity broke ground of the Mongolian government's biggest-ever construction project in September. 

``The jobs are underway as planned. We will complete them by 2012, which will substantially improve transportation in Mongolia as well as help the country preserve its ecologically-significant prairie,'' LIG CEO Kang Hee-yong said. 

Established in 1967, LIG E&C has remained a first-string constructor in Asia's No. 4 economy. It is widely known by its brand LIGA.

Link to article



Spearpoint Limited holds 5.6% of Origo Partners

November 17 (Mogi) A notice was given to Origo Partners (LON:OPP) today by Spearpoint Limited of its substantial holding in the company.

Link to announcement



Singapore health system a model for Mongolia

November 17 (AsiaOne) LAST month, private health-care provider Singapore Medical Group (SMG) unveiled plans to build a multi-disciplinary 50-bed tertiary hospital in Mongolia's capital Ulanbaatar.

Fifteen other satellite family medicine clinics and mini-hospitals will also be built in various parts of the country.

Dr Jadamba Tsolmon, 43, Mongolia's Vice-Minister for Health, was in Singapore last week for a tour of SMG's facilities.

In an interview with The New Paper, Dr Tsolmon tells us why she thinks our health-care system is ideal and should be used as a "model example" for her country.

Link to article

Erdene Provides Project Updates and Third Quarter Financial Results

HALIFAX, NOVA SCOTIA--(Marketwire - Nov. 17, 2010) - Erdene Resource Development Corp. ("Erdene" or "Company") (TSX:ERD) today provided an update on its principal projects in conjunction with the release of its third quarter 2010 financial results.

2010 Third Quarter Highlights

·         Pre-feasibility level transportation and marketing studies were ongoing in the third quarter as Xstrata Coal continues to advance the Donkin Coal Project; the pre-feasibility study on development of the project based on sales into the coking coal market, is expected to be finalized within the fourth quarter, 2010. 

·         Work continued to advance the Zuun Mod Molybdenum Project in Mongolia with a 4,000-metre resource delineation and exploration drilling program announced to test molybdenum and copper targets; pre-feasibility level studies continue.  

·         Throughout the quarter, exploration programs, including geophysical surveys and drilling, were carried out over new coal and metals targets identified in south-western Mongolia. 

·         During the quarter, Advanced Primary Minerals Corporation ("APM") closed a $1 million private placement financing; Erdene participated with a $350,000 investment and conversion of $379,101 in existing debt to APM shares to hold 59.7% of APM's issued and outstanding shares. 

·         Aggregates USA Inc. continued with mine development including site preparation and acquisition of processing equipment for the Sparta Quarry (Granite Hill) Aggregate Project in Georgia, USA; commercial production is expected to start late in 2011.  

·         Erdene's third quarter expenditures were directed toward the advancement of the Company's primary projects; ending the quarter with $10.5 million in cash and cash equivalents. 

Link to article




Spooked investors dump shares

Close More than $24 billion was wiped off the market value of Australian stocks today, after offshore worries pushed the local bourse to its weakest level in four weeks.

The benchmark S&P/ASX200 index fell 76 points, or 1.6 per cent, to 4624.3, posting the largest one-day fall since October 12. The broader All Ordinaries index plunged 77.7 points, or 1.6 per cent, to 4705.1.

Among the major sub-indexes, gold stocks fell 3.1 per cent, energy dropped 2.8 per cent, materials lost 2.5 per cent, while financial lost 1.1 per cent.

The dollar fell sharply too and is now trading below 98 US cents for the first time since October. It recently bought 97.6 US cents.

- Asian shares fall, but Nikkei recovers
- The dollar falls to 97.6 US cents
- Gold slips to $US1337 an ounce
Oil edges up to $US82.67 a barrel
- Dow futures slump 189 points to 10,984

In an encouraging sign for global markets, Japan's Nikkei stock average erased earlier losses and ended up 0.2 per cent as investors took the yen's weakening against the US dollar as a cue to hunt for bargains in car makers and other exporters.

Miners hit hard

Locally, there The miners were hit hard, with Rio Tinto the worst performer on the S&P/ASX20 slipping 3.2 per cent, or $2.75, to $83.69, as metals prices slid on fears that demand from China, the world's biggest metals consumer, would cool.

BHP Billiton ended down 2.2 per cent, or 98 cents, at $43.47, while Fortescue Metals finished 20 cents lower, or 2.95 per cent, at $6.58.

Commodity prices extended their sharp retreat, with copper and zinc falling by their daily limit of 5 per cent in Shanghai trading today. Three-month copper yesterday fell 5.7 per cent, or $US495, to $US8150 a tonne in London, its biggest slide in six months.

Preliminary market turnover was 2.57 billion shares worth $5.98 billion, with 266 stocks up, 891 down and 328 unchanged.

Link to article



<Mogi & Friends Fund A/C>

Back to 58%, Reconfirmation from Additional Investors

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

Mogi: It's back up.

I've stated previously I've decided not cash out in order to fill the Fund's A$10K subscription for Haranga Resources. I have firm commitment from three additional new investors for over A$10K.

Markets are spooked lately with China's inflation concerns. A proper adjustment in the market perhaps as investors have overly bullish on resources lately. More cheap stocks I'd say.  




"Mogi" Munkhdul Badral

Executive Director

CPS International LLC

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Mobile: +976-99996779



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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 or +976-99996779.


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