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 8, 2010 |
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| Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
| HUN | 1.240 | -0.030 | 1.240 | 1.250 | 1.260 | 1.265 | 1.240 | 860,502 |
| VOR * | 0.035 | -0.002 | 0.035 | 0.037 | 0.037 | 0.037 | 0.033 | 5,613,747 |
| ALG | 0.365 | 0.005 | 0.360 | 0.430 | 0.380 | 0.380 | 0.365 | 25,000 |
| AKM | 0.425 | 0.000 | 0.420 | 0.425 | 0.425 | 0.430 | 0.420 | 1,480,792 |
| GMM | 0.120 | 0.000 | 0.120 | 0.125 | 0.120 | 0.120 | 0.120 | 34,000 |
| LRL | 0.270 | 0.015 | 0.270 | 0.275 | 0.265 | 0.280 | 0.265 | 562,021 |
| HAR |
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| XAM | |
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| LEI | 33.790 | 0.590 | 33.660 | 33.900 | 33.200 | 34.150 | 33.200 | 1,524,860 |
| RIO | 87.510 | 0.170 | 87.390 | 87.570 | 87.930 | 88.130 | 87.260 | 2,866,775 |
| BHP * | 44.860 | -0.220 | 44.800 | 44.890 | 45.160 | 45.180 | 44.750 | 8,632,284 |
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
ASX Releases of Interest
- Voyager Resources Ltd (ASX:VOR) – Appendix 3B: 70M shares and 17.5M attaching options issued pursuant to placement
Haranga Listing Tomorrow at 9am UB Time.
December 8 (Mogi) As previously reported, Haranga Resources Limited (ASX:HAR) is listing tomorrow at 9am UB/Perth time.
CPS Securities is the lead manager and joint broker on Haranga's IPO.
Disclosures:
· I personally and through my "Mogi & Friends Fund" hold shares in Haranga.
· CPS Securities representative Jason Peterson is a non-executive director and holds shares in Haranga
SouthGobi, Winsway sign coal sales agreement
* SouthGobi to sell 3.2 mln tonnes of coal to Winsway
* SouthGobi, Winsway also sign strategic alliance deal
TORONTO Dec 6 (Reuters) - SouthGobi Resources (SGQ.TO) said on Monday it has signed a contract to sell 3.2 million tonnes of coal to Winsway Coking Coal (1733.HK) in 2011.
The two companies have also signed a strategic alliance agreement whereby SouthGobi has committed to sell at least two million tonnes of coal to Winsway annually. Under the five-year agreement, Winsway will also provide SouthGobi with priority access to its logistics assets.
SouthGobi said that it intends to deliver 800,000 tonnes of coal to Winsway in each quarter of 2011. Pricing for the coal to be sold under this contract has been agreed to for the first quarter of 2011, and will be determined by mutual agreement in advance of each subsequent quarter, the company said in a statement.
The company, which produces coal from its Ovoot Tolgoi mine in Southern Mongolia, did not disclose pricing terms related to the contract.
SouthGobi began mining coal in 2008, and sold 1.3 million tonnes of coal in 2009. The company is on track to sell about 2.5 million tonnes in 2010.
Shares of South Gobi were up 50 Canadian cents at C$12.60 on the Toronto Stock Exchange on Monday morning.
Credit Suisse Increases Hunnu Coal Interest to 7.31%
December 7 (Mogi) Hunnu Coal (ASX:HUN) was notified of the change in interest by Credit Suisse on December 7.
Credit Suisse increased its voting power in the company from 5.1% to 7.31%.
CPS Securities was the lead manager and joint broker on Hunnu's IPO and Placement.
Central Asia Metals' Ereen Licenses Hit
December 8 (Central Asia Metals) Central Asia Metals (AIM:CAML), a mining exploration and development company focused on base and precious metals in Central Asia, would like to provide an update on the status of its Ereen licence located in Mongolia.
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CAML has, within its portfolio of mineral properties in Mongolia, three areas of mineral interest, including Handgait, Alag Bayan and Ereen. The Ereen gold deposit comprises five (5) mining licences; three (3) of which have been included in the list of 254 licences, referenced above. The licences listed include MV-15617, MV-15618 and MV-15619 which were transferred to mining licences in June 2010 with a 30 year term. Two smaller mining licences, 2616A and 4265A, have not been included in the list and it is estimated that these contain approximately 50% of the known mineral resource. The remaining 50% lies predominantly within licences MV-15618 and MV-15619 from which the Company has been left with 19.4 hectares and 22.3 hectares of ground area respectively. These areas correspond very closely to the plan area of resource within the listed licence areas for revocation. CAML is actively pursuing clarification from the government authorities that the areas not included in the potential cancellation are indeed intended for continued ownership with CAML.
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CAML owns 85% of the Mongolian entity Zuun Mod UUL LLC which holds the rights to the Ereen mining licences. Ereen comprises a hardrock gold occurrence with a JORC compliant resource of 19.9 million tonnes at a gold grade of 1.2 gram per tonne for 773koz of contained gold at a 0.5 gram per tonne cut off, as defined by Wardell Armstrong International in the Competent Persons Report (CPR) in the CAML IPO admission document of 30 September 2010. As the Ereen deposit is mostly of hardrock origin and not considered to be 'placer', the Company has lodged official letters with the relevant authorities disputing the inclusion of the three Ereen licences in this recently published list. In the CPR the Company had indicated that only $0.2-$0.8 million would be spent during 2011 on exploration and evaluation expenditure at Ereen and CAML will continue to comply with its mining licence obligations.
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Mongolia Energy Aims To Produce 2.5 Million Tonnes Of Coal In 2011
December 7 (Indiainfoline) Mongolia Energy Corp (HKG:0276)aims to produce between 2 million and 2.5 million tonnes of raw coal in 2011 after a colliery started operation in West Mongolia in Oct, according to CEO James Schaeffer, China Knowledge reported.
Next Jan, the firm's monthly coal output capacity is expected to reach 50,000 tonnes to 100,000 tonnes, said Schaeffer.
In the period from 2013 to 2014, the Hong Kong-listed firm hopes to have an annual capacity between 6 million and 7 million tonnes.
The CEO added that the company will be benefited from coal sales in its neighbor the Xinjiang Uygur Autonomous Region thanks to the Chinese government's Western Development Policy.
Asgat to be main issue at Mongolrostsvetmet meeting next week
December 7 (news.mn) The Executive Council of the Mongolia-Russia joint venture Mongolrostsvetmet will meet in Moscow on December 13, for the first time since May.
The most significant issue on the agenda is likely to be the Asgat silver deposit which has 3,000 tons of reserve. Mining the strategically significant depositt, however, has several problems. Its geology is difficult, the silver is blended with other elements, transportation and other infrastructure have not been developed and the location is remote. Environmental aspects will need careful consideration before mining can begin as silver releases the extremely poisonous element arsenic.
There is no categorical information that Mongolrostsvetmet, established 37 years ago as a JV with Mongolia owning 51% share, holds the Asgat mine license but Russian interest has been traced to the deposit also holding copper, molybdenium, gold and silver. meeting.
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Croft: Foreign investors must stay in, after getting in
November (Mongolian Mining Journal) Layton Croft, Vice President External Affairs and Corporate Citizenship, SouthGobi Resources, was one of the speakers at the Mongolian Investment Summit in Hong Kong. He did not refer to economic figures, financial charts or official data in his presentation. Instead, he used his experience of living and working in Mongolia for 15 years to offer a unique personal perspective to foreign investors. MMJ is presenting some parts of his speech:
There is a lot to learn from Mongolian people – the way they look at the world, the way they think and behave, their fierce individualism and stubborn self-confidence, their industriousness and self-reliance, their willingness to try new things and take risks, and their openness and accessibility as people.
I am not an investment banker, nor an economist, nor an equities analyst – so I won't speak about commodities forecasts, equities valuations, sovereign risk, or the Chinese demand outlook for Mongolian coal. But I will talk about the equally important "softer side" of foreign investment in Mongolia, which is something I have first-hand experience with.
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China, Mongolia pledge closer military ties
BEIJING, Dec. 7 (Xinhua) -- Chinese National Defense Minister Liang Guanglie met with his Mongolian counterpart Bold Luvsanvandan in Beijing Tuesday, both pledging to enhance military ties between the two nations.
Liang said China attaches great importance to boosting Sino-Mongolian relations and is ready to work with Mongolia to push forward relations between the two countries and military-to-military ties so as to contribute to regional and global peace and development.
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Thailand and Mongolia to Sign Investment Agreement
December 8 (ISRIA) The negotiation between Thailand and Mongolia on the Agreement for the Promotion and Protection of Investments started in 1992 and has recently been concluded with mutual satisfaction of both sides. The signing ceremony of the said Agreement will be held on 8 December 2010 at 09.30 hrs. at Buakaew Room, at the Ministry of Foreign Affairs. The Agreement will be signed by H.E. Mr. Kasit Piromya, the Minister of Foreign Affairs on behalf of the Royal Thai Government, and H.E. Mr. Gombojav Zandanshatar, the Minister of Foreign Affairs and Trade of Mongolia on behalf of the Government of Mongolia, during the visit to Thailand of the Mongolian Minister of Foreign Affairs and Trade on 7 – 9 December 2010.
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Puget Acquires Assets in Russia and Mongolia
Company to Raise Cdn $20 Million to Develop Flagship Russian Asset that has Potential to Be World's Largest Non-African Primary Cobalt Deposit
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 6, 2010) - PUGET VENTURES INC. (TSX VENTURE:PVS) today announced that further to the Indicative Offer announcement made on September 20th, 2010, it has signed a definitive agreement to acquire world-class cobalt assets and other mineral assets in Russia and Mongolia, and to change its name to Global Cobalt Corporation to reflect its evolution to an international cobalt exploration and development company.
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Mongolian Properties - these properties, with gold, silver and copper-molybdenum mineralization and currently held by IMHL, will transfer to Puget Ventures in this transaction.
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Mongol 999 signs MOU with European Economic Council team
December 7 (news.mn) During their recent three-day visit to Mongolia, the members of a team from the European Economic Council discussed issues relating to renewable energy, city planning, architecture, infrastructure and railway transportation.
All these sectors have to be developed as the mining sector expands. The visitors stressed the need for exporting more value added natural and for strengthening domestic entrepreneurship. A Memorandum of Understanding was signed with Mongol 999 National Union to further discuss the establishment of a large investment fund.
Korea Resources Looking to Africa, Asia for Rare-Earths Mines
Dec. 2 (Bloomberg) -- Korea Resources Corp., the state-run mineral explorer, is seeking to invest in mines in Africa and Asia to secure supplies of rare-earths, used in electric cars and wind turbines, Chief Executive Kim Shin Jong said.
"We have currently Africa, Central Asia, Mongolia and Vietnam in mind," Kim said today in an interview after a seminar in Seoul. Separately, the miner is to meet this week with an Australian operator for cooperation in mining rare- earths, he said, declining to identify the company.
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Australia
Shares slip on bank jitters
December 8 (AAP) Close Australian shares ended lower in quiet trade today, hit by a drop in the banks on worries about funding costs and retailers on jitters about tepid Christmas spending.
The benchmark S&P/ASX200 Index was down 26.9 points, or 0.6 per cent, at 4699.9, while the broader All Ordinaries Index fell 24.3 points, or 0.5 per cent, at 4808.5.
Among the sectors, consumer staples fell 0.8 per cent, financials shed 0.6 per cent and materials dropped 0.4 per cent.
need2know:
- A$ drops below 98 US cents
- Asian shares rise on stronger US dollar
- Oil dips below $US88 a barrel
- Gold falls to $US1409 an ounce
- Dow futures drop 51 points to 11,304
Traders said investors look to be squaring positions ahead of Christmas slightly earlier than normal, with no positive news to turn the market around.
"People are still looking for reasons to sell the market and have been for some time," said Martin Angel, a dealer at Patersons Securities.
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Rio Tinto is managing to hold its head above water but only just, due to stronger trade in London on the metals exchange overnight,'' Ms Saly said.
Rio Tinto was up 17 cents at $87.51 but BHP Billiton gave up 22 cents to $44.86.
Energy stocks were also weaker after the oil price eased from two-year highs overnight.
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In other company news, Aston Resources said it had inked a deal to sell a 15 per cent stake in its flagship Maules Creek coal project in New South Wales to Japan's Itochu for $345 million. Shares in Aston were up 42 cents, or 5.26 per cent, at $8.41.
Gold miner Newcrest was 15 cents weaker at $41.35.
ING Industrial Fund was the most traded stock by volume, with 63.01 million shares changing hands worth $32.6 million. ING Industrial Fund shares were unchanged at 51.5 cents.
Preliminary market turnover was 2.48 billion shares traded for $5.2 billion, with 505 stocks up, 629 down and 368 unchanged.
<Mogi & Friends Fund A/C>
3rd Stock Listing Tomorrow
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: Haranga Resources is listing tomorrow on ASX with the ticker HAR. This will my third stock in the fund's investment portfolio.
The previous two's combined return today is at 12.5%.
Mogi
Disclosures:
· I personally, besides the fund, hold shares in Haranga.
· CPS Securities representative Jason Peterson is a non-executive director and holds shares in Haranga
---
"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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