Monday, December 13, 2010

[cpsnewswire] [CPSI NewsWire, Thursday-Sunday, December 8-12, 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 10, 2010 



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 1.235  Up









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 0.360  No change









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 33.750  Up









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ASX Recent Announcements of Notice

-       Hunnu Coal Limited (ASX:HUN) – Change in substantial holding, December 9 – Credit Suisse Increases Stake to 8.52% from 7.31%




December 9, Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet meeting held Wednesday made a decision to appoint Ch. Gankhuyag the Vice Minister of Finance of Mongolia. 

Chuluunii Gankhuyag was born in 1973. He graduated the city's secondary school #23 in 1991 and the Budapest University of Economics in 1997. He supported his career by training in the USA, Germany, Egypt and Bangladesh on financial management. He speaks Russian, English and Hungarian. 

Ch. Gankhuyag worked for Mongolia's Stock Exchange (MSE) as a commercial censor in 1991-1992, for Central Bank of Mongolia as a state inspector in 1997-1998, for "Khas" commercial bank as executive director in 2002-2009. From the year 2009, he has been working in the "Tenger sankhuugin negdel" LLC as an executive director and as advisor to the Prime Minister on economic policy

Link to article




December 9, Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the Cabinet approved a product-sharing contract, signed Dec.23, 2009, between the Petroleum Agency of Mongolia (PAM) and the "Magnai trade" company on conducting petroleum operations in the area "Bayantumen-XVII" in Dornod aimag.

As a result of this, national companies will at their own expense conduct exploration and make initial database of geological and geophysical measurements and investigations in an area designated. Moreover, it will develop an intense search for oil, which will bring profits to the state budget and create new jobs.

"Magnai trade" plans to spend within five years 28.9 million USD for the search. By prior arrangement, a help will come from some national companies such as "Khet" and "Redhill Mongolia" and Australian-British joint investment company "BHP Billiton". The right to sign a production-sharing contract is given to the PAM head D. Amarsaikhan with the company as "Apexpo Investment" Co.Ltd to carry out activities related to oil exploration in the "Dariganga-XXIV" area as well. 

According to the document, the parties agreed to improve the basic conditions of the agreement on production-sharing, to negotiate amendments to the draft treaty. In addition, the fee for the use of comprehensive natural resources /royalty/ has been increased from 10 percent to 10.75 percent, the minimum level of attributable to the Government, which begins with a 40 percent, has increased to 43 percent, while the maximum level of product-sharing for the Government will make 60 percent.

Link to article



Rio Tinto buys 10 million shares of Vancouver’s Ivanhoe mines at $25.35 per share

December 11 (Vancouverite) VANCOUVER, B.C. – Mining giant Rio Tinto (ASX:RIO) bought 10,000,000 common shares of Vancouver-based mining company Ivanhoe Mines Ltd. (TSE:IVN) from the company’s director Robert M. Friedland as the two companies start collaborating in bringing into production a colossal copper-gold mine in Mongolia with unheard of reserves of copper and gold – enough to keep the mine in business for 60 years.

According to an announcement made by Friedland, who is CEO and executive chairman of Ivanhoe, Rio paid $25.35 USD for the common shares sold by Friedland who owns 18.2 per cent of Ivanhoe.

The announcement that Friedland sold 10 million shares comes on the heels of an agreement to move full speed on the development of a colossal Oyu Tolgoi Copper-Gold Complex in Mongolia said to hold one of the largest copper-gold deposits in the world.

Link to article



SouthGobi Resources signs two additional coal supply agreements

December 9, HONG KONG – Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. (TSX:SGQ, HK:1878), announced today that the company has signed a coal supply agreement with North Asia Energy Group Limited (“NAEG”) for the sale of 450,000 tonnes of coal in 2011 and another for 500,000 tonnes of coal in 2011 with a large international company.

Please see the attached announcement for more details.

Link to release



North Asia Resources, China Railway to set up JV

Dec. 10, 2010 (China Knowledge) - North Asia Resources Holdings Ltd (HKG:0061), formerly known as Green Global Resources Ltd, said today that it plans to set up a joint venture for resource trading and logistics services with a Mongolian subsidiary of China Railway Group Ltd.

North Asia Resources said in a statement that it has signed an agreement with China Railway Mongolia Investment LLC and an independent third party, MBH, to set up North Asia Energy Group Ltd

North Asia Resources will hold a 60.2% stake in JV, while China Railway's Mongolian unit will take a 29.9%. The remaining 9.9% stake will be held by MBH.

According to the agreement, North Asia Energy Group will be engaged in resource trading between Mongolia and China as well as logistics services. China Railway Group, the owner and manager of the railway line from Linhe to Ceke, will grant a transportation quota of 1 million metric tons of resources on the railway line.

SouthGobi Resources (HKG:1878) announced yesterday that it has agreed to sell 450,000 metric tons of coal to North Asia Energy Group in 2011.

North Asia Resources, formerly a distributor of information technology products, in 2009 turned its core business to the mining of iron and copper ore in Mongolia.

Link to article

Original NAR Announcement



Entree Gold Reports on Mongolia and China Projects

VANCOUVER, Dec. 9 /PRNewswire/ - Entrée Gold (TSX:ETG; NYSE AMEX: EGI; Frankfurt:EKA - "Entrée" or the "Company") has successfully tested a number of deep conceptual targets on its 100%- owned Shivee West property in Mongolia.  The Shivee West exploration program supports Entrée Gold's two-pronged strategy that combines the strength of its joint venture in Mongolia with highly prospective exploration projects worldwide.  Shivee West is adjacent to the Company's flagship joint venture property that surrounds the massive Oyu Tolgoi project.

Shivee West, Mongolia

Entrée - Ivanhoe Mines Joint Venture

Link to release



CAML confident over Mongolia asset

December 8 ( - Central Asia Metals (LON:CAML) is continuing work on a feasibility study and environmental obligations for its Ereen asset in Mongolia despite some licences being on the government's 'revoked' list.

The Ereen gold deposit comprises five mining licences, three of which have been included in a list of 254 licences which the government intends to revoke.

CEO Nick Clarke said: "The key focus for CAML in the coming year remains the construction of our 10,000 ton per annum copper production plant at Kounrad. 

"We are obviously disappointed with the inclusion of our Ereen licences in the list of revoked licences. However we feel confident that the government has left CAML with sufficient area to encompass our known resource thus securing our title. 

"In so doing the government is showing some understanding of the needs of mining companies and demonstrates the progressive nature it has shown to mining in the recent past. 

"We also understand the state's desire to protect its natural environment which is very much a part of the attraction of Mongolia but it has to balance this against responsible inward investment into the mining sector. 

"We remain confident in the lasting security of our Ereen asset and this is evidenced by our continuing work on a locally based feasibility study and other environmental obligations."

Link to article



Volga-Dnepr flies mining vehicles to Mongolia for Monnis

December 10 (Heavy Lift) The AN-124 freighter flight from Prestwick in Scotland was performed on behalf of client Monnis International.

The shipment consisted of two mining vehicles on caterpillar belts that had been manufactured in County Tyrone, Northern Ireland by Striker Crushing & Screening Company. Each vehicle weighed 37 tonnes and measured 18.8m x 3m x 34m.

Engineering and logistics staff at Volga-Dnepr provided technical expertise for the movement, making recommendations to the manufacturer in order to avoid problems during transportation.

Volga-Dnepr was responsible for arranging trailers to truck the cargo to Scotland, as well as co-ordinating ferry transport, cargo handling and all required aviation security.

The mining vehicles were safely loaded onto the aircraft and flown to Ulan Bator, the Mongolian capital.

Link to article



Is Mongolia really a new mining frontier?

December 10 (Interactive Investor) Mention mining and Mongolia probably doesn't instantly spring to mind.

In a recent survey carried out by Canadian group Fraser Institute, Mongolia was dubbed the second-worst destination for mining companies, dumped unceremoniously behind the likes of Venezuela and the Democratic Republic of Congo.

But, nestled deep between Russia and China, this once-overlooked country plays host to potentially some of the world's largest mineral deposits - a fact that cannot be ignored by the global mining industry.

Despite bearing witness to little exploration, it is believed Mongolia has one of the largest undeveloped copper, gold and uranium deposits in the world, as well as the largest untapped supply of coal. Its location leaves it perfectly positioned to take advantage of the ferocious appetite for metals and coal from neighbouring China, which will be the principle driver of demand for Mongolia's mineral wealth.

Link to article



(Vietnamese) President wants more links with Mongolia

December 10 (Vietnam News) HA NOI — Viet Nam and Mongolia share many similarities, and should do more to boost co-operation and support each other in the interests of mutual development, said President Nguyen Minh Triet. Triet made the statement yesterday while receiving Mongolian Defence Minister Luvsanvandan Bold, who is on a working visit to Viet Nam at the invitation of Defence Minister General Phung Quang Thanh.

Link to article



Ivanhoe, Rio Tinto Strike Mongolia Financing Deal

December 9 (WSJ) LISBON—Canada-based Ivanhoe Mines Ltd., said Wednesday it reached an agreement with global miner Rio Tinto to secure as much as $6.5 billion to develop the first phase of Mongolia's massive Oyu Tolgoi copper and gold deposit.

Ivanhoe has already spent about $1.4 billion to develop the project and expects to spend another $4.6 billion to complete the first phase of the project. Additional funds may be used to finance associated investments, Ivanhoe said.

Link to article



<Mogi & Friends Fund A/C>

Haranga Comes to Save the Day

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 Resources Ltd listed on the ASX last Thursday. Opening day 167%. 2nd day 160%. Fund is up 84.8% as of Friday closing. Mogi & Friends hold 50K Haranga shares. Making up less than half of the cost but much of the value.



·         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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