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, December 1, 2010 |
| |||||||
| Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
| HUN * | 1.125 | -0.055 | 1.120 | 1.135 | 1.170 | 1.170 | 1.125 | 365,583 |
| VOR * | 0.043 | 0.004 | 0.043 | 0.044 | 0.042 | 0.051 | 0.042 | 15,125,056 |
| ALG | 0.360 | 0.000 | 0.360 | 0.450 | 0.000 | 0.000 | 0.000 | 0 |
| AKM * | 0.400 | -0.050 | 0.400 | 0.430 | 0.450 | 0.455 | 0.400 | 1,559,395 |
| GMM | 0.120 | 0.000 | 0.120 | 0.125 | 0.120 | 0.120 | 0.120 | 20,000 |
| LRL | 0.250 | 0.005 | 0.245 | 0.250 | 0.245 | 0.250 | 0.245 | 1,002,750 |
| LEI | 31.260 | -0.240 | 31.250 | 31.350 | 31.350 | 31.580 | 31.180 | 554,420 |
| RIO * | 83.100 | 0.890 | 83.100 | 83.190 | 82.000 | 83.350 | 82.000 | 2,415,121 |
| BHP * | 43.200 | 0.460 | 43.100 | 43.200 | 42.850 | 43.200 | 42.820 | 8,727,303 |
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
Voyager Resources acquires major copper-gold project in Mongolia
Mogi: VOR shares intraday high was 5.1c or 30.8% higher than when trading was halted early November at 3.9c. VOR closed the day 10.3% higher at 4.3c.
December 1 (Fortbridge) Voyager Resources (ASX:VOR) has being reinstated to official quotation today after announcing it has acquired 100% of the Khongor Copper Gold Porphyry Project located in the World Class Oyu Tolgoi Copper Belt of the South Gobi Province of Mongolia.
Highlights:
· Voyager has acquired 100% of the Khongor Copper Gold Porphyry Project in Mongolia.
· Khongor is located in the South Gobi Arc Terrain that hosts the World Class Oyu Tolgoi Copper Gold Deposit.
· Khongor has a mineralised strike length of +1 kilometre from geological mapping and sampling that is broadly coincidental with a large Induced Polarisation chargeability anomaly that extends for +1,600 by 380 metres.
· Exceptional early drilling results showing extensive zones of mineralisation in diamond core drilling, including:
o 50 metres at 1.0% copper and 0.3 g/t gold from 64 metres (KPDH09)
o 70.3 metres at 0.7% copper and 0.2 g/t gold from surface (KPDH03)
· Diamond core drilling has also intersected high grade structurally controlled quartz stockwork, that has returned:
o 5 metres at 2.6% copper and 0.87 g/t gold from 44 metres (KPDH07)
o 14.1 metres at 2.4% copper and 0.64 g/t gold from 69.9 metres (KPDH09)
o 9 metres at 2.8% copper and 0.68 g/t gold from 53.3 metres (KPDH13)
· Extensive oxide copper gold mineralisation has been identified at surface in trenching, results include:
o 18 metres at 1.33% copper and 0.32 g/t gold (Line 2)
o 18 metres at 1.84% copper and 0.43 g/t gold (Line 3)
· The Company has firm commitments for a placement to clients of CPS Securities raising $2.1M at $0.03.
· Voyager is now mobilising a drilling rig to commence a drill out of the Khongor Project.
· Voyager has an Exploration Target* for Khongor of 100Mt to 200Mt at 0.7% to 1.0% copper.
Related article: Voyager buys Mongolia copper/gold project in Oyu Tolgoi belt – Creamer Media's Mining Weekly, December 1
Arshad Sayed Joins Peabody as President of Peabody Mongolia and India
ST. LOUIS, Nov. 30, 2010 /PRNewswire-FirstCall/ -- Peabody Energy (NYSE:BTU) today announced that Arshad Sayed has been named President – Peabody Mongolia and India. Sayed will have responsibility for managing all of Peabody's business development initiatives in Mongolia and India.
"Arshad has extensive experience in Mongolia and India, and he brings with him strong relationships in the region that will allow him to advance Peabody's Asian growth initiatives," said Peabody President and Chief Commercial Officer Richard A. Navarre. "His experience with The World Bank Group ensures he will advance our goals using the highest standards for ethics, operations and the environment."
Sayed recently completed a four-year appointment as Country Manager and Resident Representative for The World Bank in Mongolia, where he was responsible for policy and program negotiations; developing new lines of business for the bank relating to mining and mining infrastructure; and coordinating relationships with the private sector and government, including involvement in the development of mining projects in Mongolia. Sayed represented The World Bank in various positions for more than 15 years. He served in the bank's Corporate Strategy Group leading innovation and strategy initiatives, and as Senior Strategy and Operations Officer in the Office of the Vice President for Europe and Central Asia. His prior experience includes founding a start-up company and working for the Government of Maharashtra in India.
…
TSX-Venture listed Summus Capital Corp. Restructuring to "Mongolia Growth Group Ltd.", Changing Listing to Canadian National Stock Exchange
CALGARY, ALBERTA--(Marketwire - Dec. 1, 2010) - Summus Capital Corp. ("Summus" or the "Corporation") (TSX VENTURE:SS.H) announced today the signing of an agreement whereby two arm's length investors, Harris Kupperman and Jordan Calonego (collectively, the "Purchasers"), will purchase an aggregate of 641,000 common shares of the Corporation from the founding board members of Summus, being all the common shares of Summus presently owned by such persons (the "Purchased Shares"). In connection with the transaction, Summus will also seek to de-list its common shares from the facilities of the TSX Venture Exchange ("TSXV") and apply to list its common shares on the facilities of the Canadian National Stock Exchange ("CNSX"). The completion of this transaction is conditional upon, among other things, the receipt of all necessary TSXV, CNSX and shareholder approvals. In addition, it is anticipated that all management stock options will be cancelled concurrent with the completion of this transaction.
Summus has requested the TSXV to halt the trading of its common shares in anticipation of the Corporation calling a shareholder meeting. This meeting will allow shareholders to consider and vote upon a number of management proposals including but not limited to:
1. not to liquidate the Corporation in accordance with TSXV policies;
2. to amend the by-laws of the Corporation as determined by the Purchasers;
3. to the transfer of the Purchased Shares and to the financings of the Corporation of not less than $4,500,000 from the sale of its common shares from treasury at such price or prices as has been determined by the Purchasers in their sole discretion to close on the closing date, provided the price is not less than $0.05 per share;
4. to rename the Corporation as "Mongolia Growth Group, Ltd.", as determined by the Purchasers;
5. to consolidate the common shares of the Corporation on such basis as determined by the Purchasers;
6. to amend the articles of the Corporation in such other fashion as determined by the Purchasers; and
7. to appoint a new board of directors consisting of Harris Kupperman, Bill Fleckenstein, Paulo Bilezikjian and Paul Sweeney or such other nominees of the Purchasers.
Mongolia Growth Group, Ltd. plans to invest in the broader Mongolian economy outside of the mining sector. Incoming management and the proposed new board of directors intend to be significant investors in the anticipated financings.
"Mongolia is booming on the back of infrastructure spending in the mining sector," said Harris Kupperman, anticipated Chairman and CEO of Mongolian Growth Group, Ltd., "I want to gain exposure to that boom and intend to invest a significant amount of funds in the anticipated private placement."
"We see great opportunity in Mongolia for business lines Harris and I have either invested in or been involved in historically," said Jordan Calonego, anticipated COO and interim CFO, "The democratization of Mongolia has benefited the nation tremendously; I am excited to be part of this venture and the future of the Mongolian economy."
StanChart rates MMC (00975) "OP" & HK$11.77
November 10 (KL) Standard Chartered initiated coverage on Mongolian Mining Corporation (MMC, 00975) with an "outperform" rating and price target of HK$11.77.
It said MMC is the only scalable and profitable listed Mongolian coking coal producer.
StanChart forecast stable gross margins of 58-60% in 2011-13 with mining cost falling to US$21/t, making MMC one of the lowest cost producers in the China/Mongolia region.
The bank added that MMC could double its average selling price in 2011E to US$132/t from US$65/t in 2010, benefiting from the completion of the construction of washing plants.
JPM rates MMC (00975) "overweight" and HK$11
November 16 (KL) JP Morgan initiated coverage of Mongolian Mining Corporation (MMC, 00975) with an "overweight" rating and price target of HK$11.
It said MMC was profitable in its first year of operations in 2009 and is planning to ramp production (ROM) from 1.8mt in 2009 to 15mt in 2013.
In addition, JPM added that MMC is constructing Mongolia's first coal handling and wash plant, a paved road to the China border and intends to begin construction of a proposed rail line to the border in 2011-2012 to lower operating expenses and expand margins.
Citi rates MMC (00975) "buy" and HK$10
November 18 (KL) Citigroup initiated coverage on Mongolian Mining (MMC, 00975) with a "buy" rating, and a target price of HK$10.
It said MMC is the owner of the mining rights to a coal field (UHG) in Tavan Tolgoi, the world's largest coking coal deposit.
Citi noted that UHG mine already in profitable ramp-up, set to produce 14.7Mt in 2013.
Washing facilities will be available by 2011 and a paved road operational by end-2010. The company intends to build a railway by 2012, matched by rail in China in 2013. This would see ASP rise to US$135/t in 2013 from US$69/t in 2010, versus US$48/t in 2009.
MMC Closed HK$8.57, December 1
December 1 (Mogi) Mongolian Mining Corporation (HK:975) --
HK:975 Snap quote, December 1 (all in HKD except where noted. Source: ETNET):
· Close: $8.57
· Open: $8.54
· High: $8.58
· Low: $8.46
· 52w High: $9.72
· 52w Low: $7.02
· Listing price: $7.02
· Volume: 1.75 million shares
· Total turnover: $14.965 Million
· Market cap (on close): $31.567 Billion (approximately US$4.064 billion (Bloomberg November 24: US$=HK$7.7675))
Link to real-time quotes and charts of MMC (sites licensed by HKEx): ETNET, AAStocks
StanChart rates MEC (00276) "OP" & HK$3.8
Mogi: MEC closed today, December 1, at HK$2.50
November 10 (KL) Standard Chartered initiated coverage on Mongolia Energy Corp (MEC, 00276) with an "outperform" rating and price target of HK$3.8.
It said the Khushuut mine, which has high-quality coking coal, commenced production in late October 2010. It has 149mt coal resources and aims to ramp up the production capacity to 3m tpa by December 2012, and further to 8mtpa in 3-4 years.
StanChart added that MEC has explored only 0.5% of its concession area and it has identified potential coal, copper and iron ore resources outside of the Khushuut mine.
StanChart rates SouthGobi (01878) HK$101.15
Mogi: SouthGobi closed today, December 1, at HK$88.90
November 10 (KL) Standard Chartered initiated coverage on SouthGobi Resources (01878) with an "outperform" rating and price target of HK$101.15.
The bank said Ovoot Tolgoi mine is located 45km north of the Chinese border and customers' trucks can pick up coal directly from the mine site. Connecting railways to China are complete (Ceke to Linhe) and StanChart expects a significant improvement in SouthGobi's customer profile and selling price when these begin operations.
In addition, it noted that SouthGobi is the most leveraged play, attributable to its lower margin and higher expenses. Its earnings sensitivity to unit cost and coal output is twice that of its peers. Sensitivity to the benchmark price is 28% (for every 10% price change), far ahead of the Chinese peers at 15-19%.
SouthGobi Share Buyback Continues
December 1 (Mogi) According to an announcement released today, SouthGobi Resources (TSX:SGQ, HKG:1878) has bought back 493,450 of its own shares on TSX and HKEx, or 0.2683% of its total shares at the time of the announcement of the share buyback program in June 2010.
Garrison Announces Issuance of Shares to a Service Provider
TORONTO, ONTARIO--(Marketwire - Nov. 30, 2010) - Garrison International Ltd. (TSX VENTURE:GAU)("Garrison") announces that, following TSX Venture Exchange ("Exchange") approval of a shares-for-debt settlement with one of its service providers, Garrison has issued an aggregate of 408,591 common shares at an average deemed price of $0.0534 per share to the service provider to settle an aggregate debt of $21,843.50. This shares-for-debt settlement was previously announced in Garrison's press release of November 18, 2010.
Landdrill 3Q Financials, Moving 5 Drilling Rigs to Mongolia
MONCTON, NB, Nov. 29 /CNW/ - Landdrill International Inc. (TSX.V:LDI) reports a $6,427,000 or 125% increase to revenues for 2010's third quarter, as compared to the prior year's amount. The Company had revenues of $11,557,000 and net income of $649,000 for the three month period ended September 30, 2010, compared to revenues of $5,130,000 and a net loss of $652,000 for 2009's comparable three month period.
On a year-to-date basis the Company reports revenues of $25,307,000 and net income of $1,204,000 for the nine month period ended September 30, 2010, compared to revenues of $12,458,000 and a net loss of $2,345,000 for 2009's comparable nine month period.
The Company also announces that after a review of their Asian operations, with the objective of maximizing net income - that the Company will wind-up operations in Russia. Over the next few months Landdrill will move their five drills, related equipment and inventory to the Mongolian Branch. This will eliminate approximately $600,000 per year in overhead costs, while also adding to the drilling capacities of the Mongolian operation. The Mongolian mining market has seen a significant increase in mineral exploration drilling during 2010 and the prospects for 2011 indicate a continuation of this growth.
Group set up to work on Erdenes Tavantolgoi shares
December 1 (news.mn) A working group was formally set up yesterday at the order of the Chief of the State Property Committee (SPC), D.Sugar, along the lines of a Government resolution on Erdenes Tavantolgoi LLC. The group will prepare the groundwork for disposal of the company's shares and devise the best ways of using the benefits from natural resources. It has already been announced that 10% of the company's shares will be distributed free to the people, 10% more will be sold to economic entities and 30% will be sold at stock exchanges.
Erdenes Tavantolgoi LLC does not yet exist as a legal entity. It is expected to work as a daughter company of Erdenes Mongol which owns the licenses of the strategic deposit mine. An advertisement to select the new company's director was published on August 22 and the deadline for receiving applications was 12 noon of September 20. Another advertisement to select the operator company was published on August 31. The Representatives Managing Council should be appointed before the Director's selection but the SPC is silent on when this will be done, except for saying that the committee will have between 7 and 9 members.
The Executive Director of the national consortium, Mongol 999, L. Ariunbold, has said all this has to be done under the company's rules which, however, are yet to be framed. The Government has said related ministries, professional organizations and NGOs will be involved in framing the rules.
There are reports that an Australian is likely to be appointed Director. The choice of the operator company appears to be restricted to one German and two Australian companies. The German company is not a large mining company and both Australian companies are subsidiaries of Leighton Holdings. Leighton Asia operates the mine owned by Energy Resource LLC, and the other is Macmahon.
REGULATION APPROVED FOR MINING MINERAL RESOURCES IN SMALL MINES
December 1, Ulaanbaatar, Mongolia, /MONTSAME/ At its regular meeting on Wednesday, the Cabinet instructed the Ministry of Mineral Resources and Energy to create a legal framework and policy environment for the implementation of the order to regulate mining of the small mines. Overseeing the implementation of this order has been entrusted to the Directorate-General of State under professional supervision.
This procedure, which includes 11 chapters and 36 provisions, is designed to coordinate the activities of the mining in the small mines, except water and ores containing radioactive elements, also oil and natural gas.
According to the order, a size of the area, reserved for the ownership of cooperatives to undertake work at soums and districts, must not exceed five hectares. A cooperative must have at least five members and not be included in the membership of other cooperatives. An application filed by the cooperative to provide an area of small mines chapter soum and districts needed to be considerd within ten days and, in case it meets all the requirements, a contract ought to be signed.
A cancellation of the agreement, authorizing to conduct the mining operations, is to be performed if professional organization reveals a harm/damage caused to the nature by the cooperative.
WikiLeaks: Mongolia passed North Korea message to U.S.
November 30 (CNN) -- North Korea attempted to reach out to the United States through Mongolia in 2009, suggesting that the Mongolians host disarmament talks between Washington and Pyongyang, American diplomats reported in a document obtained by the website WikiLeaks.
A Mongolian diplomat passed that information to the U.S. Embassy in Ulaan Baatar after an August 2009 meeting with Kim Yong Il, North Korea's vice foreign minister, a leaked embassy cable recounts. "There are no eternal enemies in this world," the Mongolian official quoted Kim as saying.
…
The North Koreans repeated their insistence that they would not return to the six-party regional talks aimed at convincing Pyongyang against dismantling its nuclear weapons program, according to the document. As they had in the past, they indicated that they wanted to discuss disarmament and the normalization of relations with Washington in one-on-one talks, which an embassy official suggested could be held in Mongolia, according to the Mongolian diplomat.
The cable quotes Kim as saying that former President Clinton's visit to North Korea "has greatly improved the prospects for such talks." Clinton had gone to Pyongyang a week earlier to retrieve two American journalists held on charges of entering the country illegally.
…
Australia
Shares tick up in late bounce
December 1 (AAP) Close Australian stocks closed a touch higher in a late rebound spurred by top home lenders, after disappointing third-quarter GDP data reinforced views interest rates would be on hold for some time.
The benchmark S&P/ASX200 index rose 2.2 points to 4586.6, after earlier falling as low as 4557. The broader All Ordinaries index inched up 0.4 points to 4676.8.
Gains in the materials sector, which rose 0.9 per cent, were offset by falls in energy shares, down 0.6 per cent, and the industrials sector which was 0.5 per cent lower. Financials slipped 0.1 per cent.
need2know:
- A$ slips to 95.95 US cents
- Asian shares fluctuate, exporters rise
- Oil tops $US84 on Chinese manufacturing
- Gold inches towards $US1390 an ounce
- Dow futures are 32 points higher at 11,028
The market has been treading water for about a week, drifting up and down daily on euro-zone debt worries, speculation on Chinese moves to cool growth, tension in the Korean peninsula, and domestic economic sentiment heading into Christmas.
…
In the mining sector, BHP Billiton was up 46 cents, or 1.1 per cent, at $43.20, Rio Tinto appreciated 89 cents, or 1.1 per cent, to $83.10 and Fortescue gained 3 cents to $6.35.
Rio Tinto said it would spend $US1.2 billion to increase iron ore production at its operations in Western Australia's Pilbara region to 283 million tonnes per annum (Mtpa), from about 220 Mtpa currently.
Among energy stocks, Woodside was down 66 cents, or 1.6 per cent, at $41.29, Oil Search was steady at $6.83 and Santos eased 5 cents to $12.38.
Gold miner Newcrest was up 4 cents at $39.69.
…
The best performing stock on the S&P/ASX 100 index was rare earths explorer Lynas Corporation, up 10 cents, or 6.41per cent, at $1.66. The worst performing stock on this index was JB Hi-Fi, down 57 cents, or 3 per cent, at $18.40.
Beadell Resources was the most traded stock by volume, with 130.49 million shares worth $70.21 million changing hands. Beadell shares finished up 5 cents, or 8.9 per cent, at 61 cents, after announcing it had discovered high-grade gold mineralisation in Western Australia.
Preliminary market turnover reached 2.33 billion shares worth $4.46 billion, with 489 stocks up, 615 down and 371 unchanged.
Misc
ANNIVERSARY OF THE HUNNU EMPIRE WILL BE CELEBRATED
December 1, Ulaanbaatar, Mongolia, /MONTSAME/ In 2011, Mongolia will celebrate the 2200th anniversary of the Hun Empire. National Committee for organizing this historic event is to headed by the Minister of Education Yo.Otgonbayar.
…
<Mogi & Friends Fund A/C>
Friends Return Slimmed, Blame It on Ireland
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.
Mogi: Well, what can I say? Looks like I should've sold when I should've sold. Mid to long term I believe our stocks are good, but for a tiny fund of little over $21K, slightest gain is a major gain.
Biggest mistake was I held when my first stock hit almost up 60%. I thought something was cooking. I still think it's cooking. Little did I know that people were trying to dig in a little too early.
Well, when something bad happens, blame it on someone else, right? Ireland, I'M WATCHING YOU!!!
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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