Thursday, December 16, 2010

[cpsinewswire] [CPSI NewsWire, Wednesday, December 15, 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, December 15, 2010  



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Russia, Mongolia foster bilateral cooperation with new nine agreements

MOSCOW, December 14 (Itar-Tass) -- Nine cooperation agreements, including those settling the Mongolian debts and laying down fundamentals of the Dornod Uranium joint venture, were signed in Moscow on Tuesday, on results of negotiations of Russian Prime Minister Vladimir Putin and his Mongolian counterpart Sukhbaatar Batbold.

Link to article



Russian, Mongolian govts mull merging 2 mining joint ventures (Erdenet and Mongolrostsvetmet. May make IPO. Considering Erdenet copper smelter)

MOSCOW, Dec 14 (PRIME-TASS) -- The Russian and Mongolian governments are considering merging mining companies Erdenet and Mongolprostsvetmet, Russian Prime Minister Vladimir Putin said Tuesday following talks with his Mongolian counterpart Sukhbaatar Batbold.

The merged company may make an initial public offering (IPO), he said.

Meanwhile, Sergei Chemezov, CEO of state industrial conglomerate Rostekhnologii, said the governments were setting up a working group to consider the construction of a copper smelter near Erdenet’s facilities in Mongolia.

The Mongolian government and Rostekhnologii hold 51% and 49% in each of the two companies, respectively. Erdenet produces copper, while Mongolprostsvetmet focuses on mining non-ferrous metals.

Link to article



Russia, Mongolia agree conditions to set up JV in uranium mining

MOSCOW, December 14 (RIA Novosti) -- Russia and Mongolia on Tuesday agreed the conditions on which a joint uranium mining company, Dordon Uran, will be established.

The agreement was signed following negotiations between Russian Prime Minister Vladimir Putin and his Mongolian counterpart Sukhbaataryn Batbold.

The intergovernmental agreement on setting up Dordon Uran was signed last year by Sergei Kirienko, the head of the Russian state corporation Rosatom, and Sodnomyn Enkhbat, the head of the Atomic Energy Authority of Mongolia.

The product output of the Russian-Mongolian uranium mining joint venture is planned at 2,000 tons per year.

Apart from this, Mongolia's $180-million debt to Russia was settled on Tuesday.

The countries also adopted a memorandum for cooperation in energy and approved a program for trade and economy cooperation for 2011-2015.

Link to article

Related article:

Russia, Mongolia Reach Agreement on Uranium Deposit  - Bloomberg, December 14



Russia continues to diversify uranium base

December 15 (World Nuclear News) Russia's AtomRedMetZoloto (ARMZ) has further diversified its uranium resources by buying into two prospective deposits, one in Mongolia and one in Tanzania. \

An agreement between Russia and Mongolia will see the formation of a mining company - Dornod Uran - that will develop the Dornod uranium resource in Mongolia. The signing brought together the heads of Rosatom, ARMZ, the Mongolian atomic energy agency and Mongolian state-owned company mAb, and took place before the Russian and Mongolian prime ministers on 14 December.

The company's board will consist of ten members, evenly representing Russian and Mongolian interests. Share allocation will be 49% to ARMZ, and 51% to mAb, ensuring Mongolian control.

The agreement further thwarts the hopes of Canadian based Khan Resources (TSX:KRI), which had intended to develop the Dornod deposit after acquiring a mining licence and conducting a feasibility study in 2009. The mining license was then suspended twice as the company became swept up in new ownership laws that require compulsory state ownership of at least 51% of any uranium venture. In a dragged out battle, Khan was then subject to a hostile takeover bid by ARMZ late in 2009, and in April 2010 the NEA ruled that Khan's mining license was invalid, although a later Mongolian high court decision overruled this.  

Link to article



Russia, Mongolia settle Mongolian debts – Putin

MOSCOW, December 14 (Itar-Tass) -- An intergovernmental agreement has settled Mongolian debts to Russia, which formed in the Soviet period, Prime Minister Vladimir Putin said after Tuesday negotiations with his Mongolian counterpart.

The debts were settled “on terms most preferential for Mongolian friends,” he remarked.

Russia wrote off 97.8% of the Mongolian debt of $172 million, Deputy Prime Minister, Finance Minister Alexei Kudrin said. He said that Mongolia would pay the remaining debt of $3.8 million in one transfer.

Talks between Prime Ministers Vladimir Putin of Russia and Sukhbaatar Batbold of Mongolia on Tuesday yielded nine Russian-Mongolian cooperation documents, including an agreement on settling Mongolia’s financial liabilities to Russia and an agreement on principal conditions to create a joint company for the prospecting, production and treatment of uranium ore.

Link to article



Kudrin: Russia may provide $125 million loan to Mongolia

MOSCOW, Dec 14 (PRIME-TASS) -- Russia could soon provide a U.S. $125 million loan to Mongolia, Russian Deputy Prime Minister and Finance Minister Alexei Kudrin told reporters Tuesday.

Russia and Mongolia signed an agreement to settle the country’s debt to Russia, Kudrin said without providing any details.

Russia also plans to provide 375 million rubles of financial aid to vaccinate livestock in Mongolia, Kudrin added.

Link to article



Ivanhoe chief locked in for Mongolia mine

RIO Tinto's grasp on Ivanhoe Mines and the $US6 billion Oyu Tolgoi copper and gold project in Mongolia has substantially tightened.

December 16 (The Australian) In the latest agreement between the two companies, Ivanhoe executive chairman Robert Friedland has been banned from selling his Ivanhoe shares without Rio's permission.

Agreements signed last week between the pair mean Rio can move to a 49 per cent stake in Ivanhoe and will take over management of the giant mine, in return for $US3.7bn of mine funding commitments.

The full agreements show Mr Friedland has agreed he will not directly or indirectly transfer any of his or his affiliates' securities, except for some limited exceptions, before January 18, 2012, without Rio's written consent.

He has also agreed to grant Rio a right of first refusal and/or rights of placement with third parties in a transfer of his securities to a third party.

Rio, with 35 per cent, and Mr Friedland, with 18.2 per cent, are Ivanhoe's two biggest shareholders.

While having signed an agreement to manage Oyu Tolgoi, Rio does not have direct ownership in the project -- 66 per cent owned by Ivanhoe.

The heads of agreement also shows Ivanhoe is unable to use the proceeds from a sale of any of its other assets, which include a 62 per cent stake in Ivanhoe Australia, to acquire new assets or fund existing projects other than Oyu Tolgoi or the Altynalmas gold project in Kazakhstan.

Link to article



Xanadu Mines Expects Dec. 21 Listing, Priced at A$0.60, Raising A$15M-$21M

Link to Prospectus Download Site



German cooperation in rare earths exploration in Mongolia discussed

December 15 ( The National Development and Innovation Committee and GTZ, the German international cooperation organization, recently organized a seminar at the Ministry of Foreign Affairs to explore the possibilities of developing rare earths based industries in Mongolia. The participants exchanged views and information on cooperation with German industries, and with scientific and financial organizations to produce final product and to export them. Presentations were made on international rare earths demand and production, Mongolia’s rare earths deposit reserves, current geological research status, and foreign investment in the sector. Participants included representatives of Parliament, the Ministry of Mineral Resources and Energy, the German Embassy, universities, the Science Academy, FIFTA, and Mongolrostsvetmet LLC.

Link to article




Shares flat after BHP sell-off

December 15 (AAP) Close The Australian stockmarket ended flat in quiet trade after BHP Billiton shares were sold off in late trade.

The benchmark S&P/ASX200 index inched up 0.9 points to 4767.8, while the broader All Ordinaries index added 2.5 points to 4853.4.

Among the major sectors, both financials and materials slipped 0.1 per cent, while gold stocks added 0.9 per cent.

- A$ hovers around 99.5 US cents
Asian shares flat but car makers gain
Gold slips below $US1400 an ounce
Oil holds above $US88 a barrel
- Dow futures are 19 points lower at 11,402

The Australian dollar breached parity with the greenback overnight, but was recently trading at 99.5 US cents.

"Copper prices which have rallied strongly in recent days were a little lower in New York last night and Shanghai today, and this influenced investor thinking on BHP," he said, adding BHP accounted for a 16-point fall on the key indices. ‘‘Had it not been for BHP, the index would have finished stronger."

BHP Billiton was down 30 cents at $45.35 and Rio Tinto eased 88 cents, or 1 per cent, to $87.02.

Rio Tinto said it would spend about $US1.058 billion to undertake major works at its Canadian operations in Quebec and British Columbia.

National turnover was 2.73 billion shares worth $6.08 billion, with 564 stocks up, 539 down and 381 unchanged.

Link to article



<Mogi & Friends Fund A/C>

Haranga rallying back

Mogi & Friends Fund is a tiny fund of A$21.8K I created with a few friends to put my own (and a few friends’) money where my mouth (just mine) is.

Haranga rallied back today and brought back up the Fund’s total return to 77.9% from 72% yesterday.



·         I personally and through my “Mogi & Friends Fund” hold 75,000 HAR shares in aggregate.

·         Jason Peterson, CPS Securities Director, holds shares (approx. 6,500,000) and options (1,000,000) in HAR.

·         CPS holds 500,000 options in HAR for corporate advice provided to HAR – Jason Peterson is a 33% shareholder in CPS.

·         CPS and CPSI directors and employees hold shares in HAR and may buy and sell these shares as and when they see fit.

·         Jason Peterson is a non-executive director of HAR but not involved in the day to day running of HAR.

·         CPS has received an IPO management fee of $250,000 and a 5% fee for any funds placed to its clients under the prospectus.

·         HAR has paid for Jason Peterson’s travel and accommodation expenses to and in Mongolia – this must be disclosed as a soft dollar commission.

·         Please refer to the prospectus for further disclosures.



"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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