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Close: Mongolia Related ASX Listed Companies, April 11, 2010
Alamar: Settlement of MRCMGL LLC
April 11, Alamar Resources Limited (ASX:ALG) --
Settlement of MRCMGL LLC (‘MRC’)
Capital Raising Complete
Appointment of new board members and management
Change of Company name
The Company’s name will now be changed to Mongolian Resource Corporation Ltd.
Updated Capital Structure
Agreement for advisory services for the new railway has been signed
April 11 (news.mn) The Government of Mongolia by its Resolution No. 283 has granted the special permission to build the approximately 1100 km long new railway infrastructure between Dalanzadgad and Choibalsan, which is the first stage of the “Governmental railway transportation policy”, to “Mongolian Railway” State Owned Shareholding Company and assigned the same company to prepare and get approved a proposal to select a consulting team to provide advisory services for the project.
As a consulting team was selected “McKinsey & Company”. This advisory team will provide among other things advisory services on the detailed feasibility study of this historical project, on the method of project financing as well as on the preparation of documents for the international open bidding procedure to select the general contractor which will build the infrastructure. “McKinsey & Company” has signed an agreement for advisory services with “Mongolian Railway” State Owned Shareholding Company on 7th April 2011.
“McKinsey & Company” is a reputable worldwide leading company with large international experience of successfully accomplished similar international advisory projects and will execute the above mentioned works within 4 months.
6 banks to lend USD14.2 million for LSE fees
April 11 (news.mn) A consortium of commercial banks led by the Trade and Development Bank (TDB) today agreed to provide the USD14.2 million as the fees to be paid to the London Stock Exchange for its management of the Mongolian Stock Exchange, to develop the country’s capital market to meet global needs and standards. This is the first such big loan from commercial banks and the State Property Committee is the guarantor.
The consortium includes, besides the TDB, Golomt Bank, Khan Bank, XacBank, Ulaanbaatar City Bank, and State Bank.
Hedge Fund Launch: Quam Silk Road Mongolia Fund
April 11, New York (HedgeCo.net) – Investment management firm Silk Road Management (SRM) has announced the launch of the Quam Silk Road Mongolia Fund, a new hedge fund investing in globally listed companies primarily exposed to the Mongolian economy.
“Mongolia has a significant undeveloped mineral wealth, including some of the world’s largest undeveloped copper, gold and uranium deposits and it is believed to have the largest untapped supply of coal.” Alisher Ali, Managing Partner of Silk Road Management and Chairman of Eurasia Capital said. “ Developing its massive resources will allow Mongolia to become the world’s fastest growing economy throughout the next decade.”
The new fund targets long term investment growth through investment in companies with strong fundamentals and whose main business operations and/or assets are based in Mongolia. The hedge fund is an open-end investment vehicle, primarily investing in liquid stocks which are members of the $38bn Silk Road Mongolia Index.
“Mongolia, located between China and Russia, is strategically positioned to supply raw materials for Chinese, Korean, Japanese and eastern Russian development. Mongolia is set to continue profiting from its world class natural resources, located next to the world’s biggest consumer” Richard Harris, CEO of Quam Asset Management, said.
SRM owns four equity indices: Silk Road Composite Index, Silk Road Central Asia Index, Silk Road Mongolia Index and Silk Road Hong Kong Index.
Party leaders pledge not to compete in offering cash allowances
April 8 (news.mn) Leaders of political parties today signed a pledge that they will not compete with one another in promising cash allowances during next year’s local and parliamentary elections. The memorandum of understanding they signed at a meeting in Government House also said they will respect national security concerns and all national laws. It also reiterated their faith in the parliamentary system of governance and said they would set up working groups to improve the parliamentary structure and strengthen democratic principles.
Those who signed the memorandum were MPP Chairman S.Batbold, DP leader N.Altankhuyag, Green Party head D.Enkhbat, Civil Will Party head S.Oyun, National New Party leader Ts.Tsolmon, Social Democratic Party head A.Ganbaatar, Republican Party chief B.Jargalsaikhan, Traditional United Party head B.Batbold and Motherland Party leader B.Erdenebat.
Wind farm to be built near Sainshand
April 11 (news.mn) The Energy Regulatory Authority has granted special permission to Sainshand Wind Farm LLC to set up a wind farm at a place 15 km away from Sainshand, the center of Dorngobi aimag. The farm will have a 52-mw capacity and would annually supply 171.6 million kw to the national network.
<Mogi & Friends Fund A/C>
Mogi & Friends Fund is a tiny fund of A$20.8K I created in late September with a few friends to put my own (and a few friends’) money where my mouth (just mine) is.
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.
· 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.
"Mogi" Munkhdul Badral
CPS International LLC
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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.