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, March 15, 2010 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.060 | -0.016 | 0.058 | 0.060 | 0.077 | 0.077 | 0.060 | 27,643,290 | |
1.260 | -0.060 | 1.200 | 1.270 | 1.285 | 1.290 | 1.170 | 2,209,625 | |
0.430 | -0.020 | 0.410 | 0.430 | 0.440 | 0.470 | 0.410 | 1,689,990 | |
0.670 | -0.015 | 0.670 | 0.675 | 0.680 | 0.690 | 0.655 | 2,570,250 | |
0.390 | -0.060 | 0.350 | 0.400 | 0.420 | 0.420 | 0.390 | 97,007 | |
0.017 | -0.006 | 0.016 | 0.017 | 0.023 | 0.023 | 0.017 | 10,405,000 | |
0.008 | 0.000 | 0.008 | 0.009 | 0.000 | 0.000 | 0.000 | 0 | |
0.160 | -0.055 | 0.160 | 0.180 | 0.200 | 0.200 | 0.160 | 2,046,296 | |
0.250 | -0.025 | 0.240 | 0.250 | 0.270 | 0.270 | 0.230 | 1,385,230 | |
0.480 | -0.045 | 0.460 | 0.480 | 0.525 | 0.525 | 0.480 | 283,079 | |
28.410 | -0.690 | 28.400 | 28.440 | 29.160 | 29.240 | 28.120 | 776,651 | |
77.410 | -1.740 | 77.410 | 77.440 | 79.500 | 79.900 | 76.710 | 4,144,319 | |
42.970 | -1.120 | 42.970 | 42.980 | 44.000 | 44.210 | 42.200 | 13,208,408 | |
Source: asx.com.au
Ivanhoe, BHP find new copper/moly/gold zone in Mongolia
March 14, TORONTO (miningweekly.com) – Ivanhoe Mines (TSX:IVN, NYSE:IVN), which is developing the big Oyu Tolgoi copper/gold project in Mongolia, has found a new copper/molybdenum/gold zone on a property being explored in joint venture with BHP Billiton, the firm said on Monday.
The new zone, Ulaan Khud North, is located about 10 km north of the Oyu Tolgoi complex, and extends the known Oyu Tolgoi mineralised system by another three kilometres to the north, to more than 23 km.
The signs point to a near-surface deposit with openpit mining potential, and Ivanhoe's geologists believe that the near-surface copper mineralization discovered to date at Ulaan Khud North “may be part of a much larger deposit”, the company said.
Ivanhoe formed a joint-venture with BHP in 2005, and the world's biggest mining company has since earned a 50% interest in the joint venture by spending $8-million on exploration and conducting an airborne survey over the Oyu Tolgoi area.
A total of 25 drill holes totalling 6 561 m, ranging in depth from 182 m to 377 m defined the new zone of shallow porphyry copper mineralisation over an area of 600 m by 300 m, Ivanhoe said.
Under an agreement with the government, Ivanhoe and BHP have three years to conduct additional exploration, complete an environmental impact study, prepare a final feasibility study and gain approval for the design for the project.
The partners must submit a technical and economical study on a mine at Ulaan Khud North to the Mineral Resources Authority of Mongolia by June 30, 2013.
The Oyu Tolgoi project, which is expected to start production in late 2012, will produce more than 1,2-billion pounds of copper, 650 000 oz of gold and three-million ounces of silver a year during the first ten years of operations.
Ivanhoe owns 66% of the Oyu Tolgoi project and the Mongolian government holds the other 40%. Diversified miner Rio Tinto, in turn, owns 40,3% of Ivanhoe.
Ivanhoe shares edged up 0,85% on Monday to C$24,85 apiece by 15:17 in Toronto.
Link to related articles from Reuters, Dow Jones Newswires
ADDITIONAL MINERALIZATION DISCOVERED NORTH OF Entr̩e GOLD - OYU TOLGOI LLC JOINT VENTURE GROUND (Entr̩e Gold Comments on IVN/BHP Discovery) РPRNewswire, March 14
Korean builders eye Mongolian rail
March 16 (JoongAng Daily) A consortium of 19 Korean construction companies is likely to win a 1,000 kilometer railroad construction project in Mongolia worth $3 billion.
According to Lotte Engineering & Construction, the consortium, along with Korea Rail Network Authority, submitted its preliminary business plan as a part of its bid to the Mongolian representatives a week ago.
This followed an agreement by the Korean government to cooperate on the railroad project at the request of the Mongolian government in 2009.
“Countries such as China and Russia have shown interest in the Mongolian railroad project, but as a result of long cooperation, Mongolia has raised its expectations of our technology and governmental support,” said Lim Young-sik, team leader at Korea Rail Network Authority. “The Mongolian government wishes to start the project as soon as possible.”
Construction of the railroad will take place between Taban Tolgoi and Zuunbayan, and Sainshand and Choybalsan, which stretches over 1,040 kilometers.Building is expected to last five years as the Korean consortium will be responsible for the first stage of the planned 5,500 kilometer railway.
Mongolian government officials are expected to visit Korea to sign a memorandum of understanding with the consortium this month.
The railroad construction is related to the exploitation of Mongolia’s abundant coal reserves.
Although the country has plenty of natural resources such as bituminous coal, copper, zinc, and molybdenum, it lacked infrastructure to extract and ship the raw materials.
“The Korean consortium has received a positive response from the Mongolian side on our business plans to connect the Taban Tolgoi mine with the railroad,” said Do Eun-dae, vice president of Lotte E&C.
Taban Tolgoi is estimated to have coal reserves of 6.4 billion tons, making it one of the biggest coal mines in the world.
GTSO JV Signs New LOI to Develop Licensed Mongolian Rare Earth Mine
March 15 (BusinessWire) The Mongolian agent company for Green Technology Solutions' (OTCBB:GTSO) joint venture with Rare Earth Exporters of Mongolia (REE) signed a letter of intent Monday to develop a new licensed rare earth mine in the mineral-rich nation.
According to the letter, the joint venture and its Mongolian agent company will work with Ar Erkhes, LLC, the mine's license holder, to finance, market and develop the property in Mongolia's Tuv province. The joint venture and its agent has the right to seek investors, scientists and other professionals in performing due diligence toward a definitive agreement. Ar Erkhes will retain authority to mine the location with GTSO's joint venture receiving a share of the profits.
“We are thrilled to have the opportunity to build a relationship with Ar Erkhes, which owns a special license to work this mine,” said GTSO President and CEO John Shearer. “We've received analysis of this property by the Mongolian Geological Laboratory that confirms the presence of Tantalum and other critical materials. This letter of intent is a true milestone in our mission to help develop Mongolia into a leading producer of rare earth elements.”
Ar Erkhes is a trading and mining company located in the Mongolian capital of Ulan Bator. The company claims to hold a special license to work the largest Tantalum mine in Mongolia and the world. Ar Erkhes' property is the second rare earths mine in Tuv that GTSO and REE have set in their sights. Last week, the joint venture executed a land lease agreement for a site in the province's Erdenesant district. The Tuv province surrounds Ulan Bator, Mongolia's road and rail transportation hub. The capital is an important locale in the joint venture's plan to ship rare earth ore north to the port of Vladivostok, Russia.
“Acquiring mining claims and operations is crucial to our mandate to develop stable sources of rare earths outside of China,” Shearer said. “We are continuing to conduct ongoing negotiations to acquire rights to further properties still.”
GTSO Eyes April for First Shipment of Mongolian Rare Earth Ore
Rare Earths to be Sent by Rail to Russia and Sold to Highest Bidder
March 14, SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCBB:GTSO) announced today that its joint venture with Rare Earth Exporters of Mongolia (REE) plans to ship its first batch of rare earth ore from Mongolia in April to be sold to the highest bidder.
GTSO President and CEO John Shearer said on Friday that the rare earth ore will be sent by truck from the mines to Ulan Bator, Mongolia’s capital, where it will be shipped by rail to the international seaport of Vladivostok, Russia. While in port, the ore will be sold to the government or corporation that places the highest bid.
“We’re targeting April for this initial shipment, but the final shipping date may well come sooner,” Shearer said. “We’ve already been contacted by interested parties hoping to purchase Mongolian rare earths from us, and we plan to begin fulfilling demand as soon as we possibly can.”
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Trendfield Holdings Limited Believes That Its Mongolian License 13602X Has the Potential to Be a World-Class Epithermal Polymetallic (Ag, Au, Pb, Cu) Deposits
BEIJING--(Marketwire - March 14, 2011) - In March 2010 THL Mongolia Ltd. purchased 70% of KMNG LLC (KMNG) holdings. KMNG is located in Ulaanbaatar, Mongolia and owns 3 exploration licenses 13602X, 13603X and 13408X. These licenses are located in the South Gobi Province at the southern border of Mongolia, in the territories of Hanboulag, Khanbogd, Sayshand and Dalanazadgad. The cumulative area of the licenses is 1935.5 km2.
KMNG's geological mapping program took place over a three month period (from July 19, 2010 to 25 October, 2010). This phase resulted in a collection of 491grab samples. The grab samples were submitted to Act-labs Mongolia and analyzed for Au, Ag, As, Cu, Mo, Pb, Zn and Sb contents. In total, 4 338.45 line-km of geological traverses were completed over the 3 licenses during the first phase of exploration works.
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The 3 exploration licenses chosen by THL were initially selected based upon their impressive polymetallic historical geochemical anomalies associated with favorable geological, tectonic and structural settings. These favorable criteria were confirmed by the results of recent exploration works, especially in the Khairkhan Uul tenement (license 13602X). This permit itself holds potential for different types of mineralization, and as a result, is sectioned into 3 primary targets and other prospective zones.
The Altan Khudag target (Northeastern area of the license 13602X) is highly prospective for polymetaliic epithermal Ag, Au, Pb, Cu mineralization. These occurrences have many similarities with Low-sulphidation epithermal Au-Ag mineralization and seem to be closely related to an ellipsoidal granitic intrusion of Late Paleozoic located in the NE end of the license. This zone is our key target for the discovery of a polymetallic epithermal Au, Ag, Pb, Cu deposits.
The Dergehiin Khuda target located in the central region of the license 13602X has potential for porphyry Cu, Sn, W type mineralization as suggested by the presence of numerous small veins mineralized in wolframite, Tin and copper hosted within a shallow porphyritic intrusive body of irregular shape.
The southern region of license 13602X has potential for skarn related mineralization, as suggested by the identification of skarns along the contact of a late Permian sub-volcanic intrusion with Devonian limestone. A magnetite rich body of 350 m long and 2.6 m wide crops out within this target.
Based on geological, structural, and alteration mapping combined with assay results of grab samples THL believes License 13602X has the potential to be a world-class epithermal polymetallic ( Ag, Au, Pb, Cu) deposits. A 3.5 km long and 700 m wide zone has been clearly defined to contain high grade Silver-Lead, Arsenic, Stibnite and moderate grade gold, copper and zinc in grab samples. The average silver grade of all grab samples randomly collected from this zone is about 200g/t. In this type of mineralization, gold and silver grade usually increases at depth within the ore body. Very high and consistent grades are therefore sought in drill intercepts.
This area has been prioritized for the next step of exploration work including systematic soil sampling, ground geophysics, trenching and an initial exploratory drilling. The next phase of exploration will begin spring 2011.
THL Mongolia Ltd. is fully owned subsidiary of Trendfield Holdings. Trendfield Holding is a private mining exploration company with offices in Beijing, Hong Kong, Niamey and Ulaanbaatar.
Petro Matad set to recommence Mongolian drilling
March 11 (Interactive Investor) Oil explorer Petro Matad (AIM:MATD) is gearing up to recommence drilling activities at its Davsan Tolgoi-4 well in Mongolia next month, four months after bad weather forced it to halt operations.
The well was suspended in early December at a depth of 1,271 metres ahead of the worst of the Mongolian winter conditions, the company said.
However, along with drilling contractor DQE International, Petro Matad is planning to re-start activities in April and drill the well to a depth of 2,020 metres.
The announcement came as the Mongolia-focused company said it was embarking on an "active and productive" programme this year.
It plans to begin a scheduled testing programme on the wells drilling during 2010 in May, with DT-1 as the first hole set to be tested.
Wells DT-1, DT-2 and DT-3 all encountered oil with extended hydrocarbon occurrences a significant distance southward into Block XX.
To this end, Petro Matad has called in geophysical services group BGP to undertake a 1,000 kilometre 2D seismic survey, which will consist of in-fill coverage over existing leads and prospects in the northern portion of the block as well as exploration lines running through the central and southern parts of the Block.
Elsewhere in Blocks IV and V in central Mongolia, the company has commissioned Major Drilling Group International to carry out stratigraphic drilling. The aim of the programme is to provide factual constraints on what is observed in the seismic studies, Petro Matad explained, as well as obtain direct measurements of the geothermal gradient in a move the company hailed "an essential step" in its exploration activities across the blocks.
The first seismic surveys in the central Mongolian region were carried out last year and along with field and gravity results, suggest that both blocks contain "suitably thick sequences of source, reservoir and seal rocks to have trapped significant hydrocarbons".
Chief executive Douglas McGay commented: "During the past three months the company has made excellent progress in both its exploration activities and also at a corporate level. It is noteworthy that we are advancing our field exploration activities further into both ends of the harsh Mongolian winter.
"The company is working towards an all-year round operation for the first time in Mongolian oil exploration history."
He went on to add that the company has now built up a firm foundation for what is proving to be a very active 2011 programme.
Peter Bassett, analyst at Westhouse Securities, said: "This is a positive statement from the company on its activities over the winter. In particular, we note that it has made good progress on interpretation of data from the 2010 drilling and seismic activities on Block XX. This reinterpreted data will form the basis for the location of the wells in its 2011 drilling programme.
"In addition, the company is positive over the exploration prospectivity of Blocks IV and V, although exploration is still at a pre-drilling stage. We maintain our 'buy' recommendation and our target price of 250p."
General Mining Corporation Raises A$1.2M To Advance Mongolian Potash Project
Placement Highlights
· Share placement to institutional and sophisticated investors to raise A$1.21M
· Funds to accelerate potash and manganese exploration
· GMM well positioned to advance projects and deliver growth to shareholders
March 15, General Mining Corporation Limited (ASX:GMM) is pleased to advise that it has placed 6,947,234 shares at $0.175 per share to raise $1,215,766 before costs of the issue. Demand for the placement was strong and closed oversubscribed.
The placement was made under the Company’s 15% placement capacity to institutional, sophisticated and professional investor clients of Pareto Capital. Pareto will be granted 1,215,766 options exercisable at $0.20 per share, expiring on 30 June 2012, on completion of the Placement as part consideration for managing the issue and providing on going corporate advisory services. All capital raised by Pareto will attract by Pareto will attract a 6% capital raising fee.
Use of Funds:
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U.S., Mongolia to expand cooperation: officials
March 12 (Xinhua) Mongolia and the United States will expand their cooperation in democracy education and the mineral sector, officials from both sides said Friday.
"The United States confirmed that it will continue cooperating with Mongolia within the framework of democratic development and international cooperation," the Mongolian Ministry of Foreign Affairs said in a statement.
Earlier a consultation was held here between Damdin Tsogtbaatar, foreign policy advisor to the Mongolian president, and the visiting U.S. delegation headed by Kurt Campbell, U.S. assistant secretary of state for East Asian and Pacific Affairs.
In addition to cooperation in democracy education and some public sectors, the two sides also discussed Mongolia's mineral sector in terms of a long-term trade growth, the environmental regulation and human development.
"The United States will continue supporting Mongolia's development through currently undergoing projects of the United States Agency for International Development (USAID) and Millennium Challenge Corporation," U.S. representatives said.
USAID, Millennium Challenge Corporation and the U.S. government are currently implementing multi-million dollar development projects in Mongolia.
MICC Initiates Coverage on Hunnu Coal
March 11 (MICC) --
Initiating Coverage
We are initiating coverage on Hunnu Coal, and are giving a SPECULATIVE BUY rating at this time.
Company Overview
Hunnu Coal is a coal exploration company, operating in Mongolia through its subsidiary Hunnu Resources. The company’s resource portfolio consists of ten coking and thermal coal projects with current focus on two of the projects, being Tsant Uul and Unst Khudag. The company is carrying out extensive drilling programs to expand JORC resources. Initial JORC resources for the two main projects, Tsant Uul and Unst Khudag, have been reported as 90mt and 324mt respectively. Hunnu has started the process of applying for a Mining License, and is planning to commence production at Tsant Uul coking coal in the second half 2011.
As of today, Hunnu’s projects’ JORC resources total over 400 million tonnes, with potential expansion of JORC compliant resources and reserves with further exploration.
Hunnu Coal raised A$20 million dollars on the Australian Stock Exchange in February 2010. On March 9 2011, the company announced of Banpu Mineral’s acquisition of A$45, or a 12.4% million stake in the company.
Prophecy Makes Strategic Investment in Compliance Energy Corporation
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2011) - Prophecy Resource Corp. ("Prophecy" or the "Company") (TSX VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) reports that it has acquired 5,000,000 common shares of Compliance Energy Corporation ("Compliance"), representing approximately 8% of Compliance outstanding shares by means of a non-brokered private placement. Compliance's majority interest is the Raven Coking Coal Project located on Vancouver Island, Canada in addition to other coal projects totaling 75,000 associated exploration and development acres. The investment represents Prophecy's first foray into the metallurgical coal market to complement its substantial 100% owned open-pittable thermal coal resources in Mongolia (839 Mt Measured, 579 Mt Indicated). The Raven Underground Coal Project contains high volatile A Bituminous coal suitable for targeting the metallurgical coal market as a blend product or the thermal coal market. The project is owned 60% by Compliance Energy and 40% by a subsidiary owned by Itochu Corporation of Japan and LG International Corp. of Korea. Prophecy paid CDN $1,750,000 (or $0.35 per share) for its interest in Compliance Energy. The total coal tonnage at the Raven Underground Project (as reported by Pincock, Allen and Holt in its NI 43–101 resource estimated in April 2010) is 71,998,201 tonnes of measured and indicated and 59,430,517 tonnes of inferred.
Mongolia to import Chinese workers to meet domestic needs
March 11 (Xinhua) The Mongolian government has approved a draft agreement on importing Chinese laborers, local media reported Thursday.
Under the agreement, Mongolia will employ licensed specialized workers based on needs and orders of the employment organizations, but permission from a concerned state organization is also needed.
The ministries of Mineral Resources and Energy, Social Welfare and Labor and Road, Transportation and Urban Development have been asked to make open information regarding the number of jobs created by entities, economic entities' requirements on domestic and foreign workers.
The government has ordered Minister of Social Welfare and Labor T. Gandi to submit the draft agreement to the National Security Council.
The Mongolian government earlier announced that 2011 will be a year of employment support to raise household income and to increase national production.
Anti-Corruption Views - Launching a “global-local” anti-corruption network in Mongolia
March 11 (TrustLaw) I recently had the opportunity to co-facilitate and present at an anti-corruption meeting in Mongolia that brought together leading players from business, civil society and government agencies. The initial idea to have the meeting came from the Office of the President of Mongolia, which is keen to improve Mongolia’s image from a governance standpoint and make the country an attractive investment destination.
According to the latest Corruption Perception Index released by Transparency International, Mongolia ranks 116th out of 178 countries in terms of level and impact of corruption.
At the meeting, the aim was to explore ways in which the World Economic Forum’s Partnering Against Corruption Initiative (PACI) could support the private sector in Mongolia in a process backed by the Mongolian Government and local non-governmental organizations to improve local corporate governance standards across sectors.
This meeting was part of a larger PACI plan to create replicable and scalable models for harnessing the collective power of the private sector to fight corruption at the country level, working within the context of a public-private partnership.
After the three-day meeting, we came away with a clear commitment to initiate a local anti-corruption network in Mongolia, driven by the private sector with strong multistakeholder support, as a pilot project.
The idea is to have a strong nucleus of leading companies in Mongolia commit to adopting a zero-tolerance policy towards bribery and corruption and to implement a world-class corporate anti-corruption programme modelled on a framework developed by PACI. The network will be self-policing, and participation in the network will be taken into account by governmental agencies in the award of tenders for public contracts. Civil society will ideally play an oversight role to ensure the credibility of the network.
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Arthur Wasunna is the Partnering Against Corruption Initiative project manager and a Global Leadership Fellow at the World Economic Forum. PACI is a global multi-sector, anti-corruption initiative established by CEOs to level the playing field among industries and help consolidate anti-corruption efforts. PACI brings together more than 160 companies to fight bribery and corruption.
Misc
Acceptance of Mongolia's emergency rescue team
Source: Government of Japan
Date: 15 Mar 2011
On Tuesday, March 15, in response to the Tohoku district-off the Pacific Ocean Earthquake, the Government of Japan decided to accept an emergency rescue team from Mongolia. The team is scheduled to arrive at Narita Airport on the afternoon of the same day.
The rescue team is composed of 12 members from the National Emergency Management Agency of Mongolia. (The activity area and the time the team arrives at the site is now being coordinated.)
On March 11, the Government of Japan received from the Government of Mongolia letters of condolences and sympathy from His Excellency Mr. Tsakhia Elbegdorj, President of Mongolia, and His Excellency Mr. Sukhbaatar Batbold, Prime Minister of Mongolia. On March 12, the Government of Mongolia decided to offer 1 million USD and relief supplies (blankets etc.), and proposed that it is ready to dispatch an emergency rescue team. The Government of Japan is deeply grateful to the cooperation of the Government of Mongolia.
Mongolian Government to Send Rescue Teams to Japan
March 13 (Xinhua) The Mongolian government decided to send rescue teams to the disaster zone of Japan, local media reported on Sunday.
Mongolian Deputy Prime Minister M. Enkhbold has met Japanese Ambassador to Mongolia Kidokoro Takuo here, saying Mongolia decided to send rescue teams to the disaster zone and grant one million dollars of assistance to Japan.
The rescue teams coming from the National Emergency Management Agency and the Defense Ministry comprises of 30 rescuers and 200-300 servicemen.
The Mongolian government had already sent 2,500 woolen blankets to Japan on Saturday.
In the past few days, the Mongolian president and prime minister had respectively extended condolences over the deaths of many people and losses of properties caused by the deadly earthquake in Japan.
64%
I feel like I should start quoting how much other “successful” funds perform in general these days. Is 64 a bad number for 6 months?
· I personally and through my “Mogi & Friends Fund” hold 75,000 HAR shares in aggregate.
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"Mogi" Munkhdul Badral
Executive Director
CPS International LLC
Telephone/Fax: +976-11-321326
Mobile: +976-99996779
Email: mogi@cpsinternational.mn
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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 mogi@cpsinternational.mn or +976-99996779.
Disclosure/Disclaimer
CPS Securities, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly from client transactions mentioned in correspondence from CPS International.
CPS International advise this email contains general information only and does not include advice. In preparing this communication, CPS International did not take into account the investment objectives, financial situation and particular needs of any person. As with any speculative mining company there are significant risks.
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