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Close: Mongolia Related ASX Listed Companies, April 4, 2010
Voyager Resources: Placement & Rights Issue
April 1 (ASX:VOR) Voyager Resources Limited (Company) is pleased to announce a proposed placement (“Placement”) and underwritten renounceable rights issue (“Rights Issue”) to raise approximately $10.4 million before costs.
Funds raised will be utilised to continue exploration and drilling programmes on the Company’s recently acquired Khongor Copper Gold Porphyry Project in Mongolia. The Company plans to drill at least 20,000 metres of diamond drill core and reverse circulation drilling on its projects in 2011 with the aim of identifying initial JORC compliant resources later this year.
The Company has secured commitments from subscribers to participate in a placement by which the Company will raise $4.14 million (before costs) through the issue of 69 million shares at an issue price of 6 cents each (Placement). CPS Securities and Taylor Collison have been appointed Joint Lead Managers for the Placement.
The Company will also undertake a 1 for 8 renounceable entitlements issue at 6 cents per share to raise approximately $6.29 million (Offer). The Offer will be fully underwritten by CPS Securities (subject to normal commercial terms) and will be made pursuant to a prospectus to be lodged at ASIC in the near future (Prospectus). The Placement will be issued immediately after lodgement of the
Prospectus at ASIC under the Company’s existing capacity under Listing Rule 7.1.
Expenditure will be used to advance the Company’s Mongolian copper gold & gold projects (as per Table 1 below) including the Khongor Copper Gold Porphyry Project.
Winsway (01733) to issue five-year US$500m senior notes
April 4 (ETNet) Winsway Coking Coal (01733) said it will issue 8.5% senior notes due 2016 in the aggregate principal amount of US$500 million.
The notes are expected to be issued on or about 8 April 2011 and will be offered and sold outside of the United States in reliance on Regulation S. None of the notes will be offered to the public in Hong Kong.
The estimated net proceeds will be about US$488 million. Winsway intends to use the proceeds for financing the investment in the subsidiaries, joint ventures and/or certain entities to purchase rolling stock and other transportation-related vehicles and invest in railway-related infrastructure, for financing investments in upstream resources through new acquisitions and/ or joint venture projects and otherwise to secure upstream resources as well as for working capital and other general corporate purposes.
Approval in-principle has been received for the listing and quotation of the notes on the Official List of the SGX-ST.
Deutsche Bank, Merrill Lynch International, Goldman Sachs and ICBC International Capital are the joint bookrunners and Deutsche Bank, Merrill Lynch International, Goldman Sachs and ICBC International Securities are the joint lead managers in respect of the offer and sale of the notes. (HL)
Related Winsway Releases:
Annual Report 2010 – Winsway, April 4
China's largest coal producer builds processing project on China-Mongolia border
HOHHOT, April 4 (Xinhua) -- China Shenhua Energy Co. Ltd., the country's largest coal producer, has planned a huge investment to build a coal processing project on China-Mongolia border to better use coal imports from the Republic of Mongolia.
The government of Wulate Middle Banner (County), north China's Inner Mongolia Autonomous Region, on Sunday confirmed that construction of Shenhua's project with a planned investment of 10 billion yuan (1.5 billion U.S. dollars) has started in Ganqimaodu Customs Processing Park.
Ganqimaodu Customs is China's major energy imports gateway with the Republic of Mongolia. It handled 7.71 million tonnes of coal imports last year. The imports of raw coal via the customs soared by 131.8 percent year-on-year in the first quarter to reach 1.6 million tonnes, according to the customs figures.
The Wulate Middle Banner commission of development of reform said Shenhua's project slated for the first phase production by 2012 would have a coal washing ability of 6 million tonnes a year, coking capacity of 2.4 million tonnes a year and an annual capacity of producing 4.8 million tonnes of methanol and 30,000 tonnes of tar, respectively.
Prophecy Resource Corp. and Pacific Coast Nickel Corp. Sign Arrangement Agreement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 4, 2011) - Prophecy Resource Corp. ("Prophecy") (TSX VENTURE:PCY) (OTCQX:PRPCF) (FRANKFURT:1P2) and Pacific Coast Nickel Corp. ("PCNC") (TSX VENTURE:NKL) ("PCNC", and collectively with Prophecy, the "Companies") are pleased to announce that further to their announcements on January 18, 2011 and February 17, 2011, they have signed the definitive arrangement agreement ("Arrangement Agreement") to sell Prophecy's Wellgreen PGM Ni-Cu and Lynn Lake Nickel projects (the "Projects") to PCNC.
Pursuant to the Arrangement Agreement, the transaction will be implemented by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"). Prior to the Arrangement, Prophecy will transfer the assets comprising the Projects, as well as $2 million cash, to a newly incorporated subsidiary ("Spinco"), PCNC will then acquire 100% of the shares of Spinco in exchange for the issuance of 450,000,000 common shares in the capital of PCNC (the "PCNC Shares"), of which 225,000,000 PCNC Shares will be retained by Prophecy and 225,000,000 PCNC Shares will be distributed or reserved for distribution on a pro rata basis to holders of Prophecy shares on a fully diluted basis ("PCNC Distribution"). Prophecy may also grant up to 500,000 options prior to the effective time of the Arrangement.
Upon completion of the Arrangement, Prophecy and its shareholders will hold approximately 88.97% of the issued and outstanding shares of PCNC. Following the completion of the Arrangement, Prophecy will change its name to "Prophecy Coal Corp." and PCNC will consolidate its share capital on a 10:1 basis and be renamed as "Prophecy Platinum Corp.".
MEC (00276) further extends Xinjiang resources purchase date
April 1 (ETNet) Mongolia Energy Corporation (MEC, 00276) said it agreed to further extend the completion date of the acquisition of multi-metals resources in Xinjiang from 31 March 2011 to 31 December 2011 as the application for the mining license is pending the approval and additional time is required to obtain the license from the Ministry of Land and Resources of the PRC. (HL)
Ruling on Altan Dornod case likely in April
April 1 (news.mn) Official sources expect the International Arbitration Court to give its ruling on the dispute between the Government of Mongolia and Altan Dornod Mongol LLC this month. Mongolia has so far spent MNT6 billion on pursuing the case.
Executive Director of Altan Dornod Mongol S.V. Paushok escaped from Mongolia to Russia when he was to be investigated for not paying MNT127.7 billion in taxes and for money laundering. Prosecutor General D. Dorligjav has requested his Russian counterpart to initiate an investigation of Paushok. So far the answers have been non-committal.
Guildford Coal Limited Chief Operating Officer Appointment
April 4 -- Guildford Coal Limited (ASX: GUF) is pleased to announce the appointment of Mr Mark Turner as Chief Operating Officer who joins the company on 30th May 2011 with an impressive track record in operational and executive management in the Queensland mining industry.
April 3, Ulaanbaatar, Mongolia, /MONTSAME/ Five stock trades were held at Mongolian Stock Exchange on from March 28 to April 1. In overall, 10.9 million shares were sold of 52 joint-stock companies totaling MNT 8.1 billion.
Index TOP-20 was 24086.54 points increasing 231.75 units or 0.97% against the week earlier. The total market capitalization was set at MNT two trillion and 482.9 billion increasing MNT 105.8 billion or 4.4%.Shares of "Sodot" /99.3%/, "Berkh uul" /73.5%/, and "Undarga gobi" /25.0%/ increased, but shares of "Atar orgoo" /15.2%/, "Suu" /15.0%/, and "Gutal" /13.8%/ decreased.
26 stocks closed higher, 19 shares declined and seven shares remained unchanged. Shares of "Berkh uul" /10.1 million/, "Khokh gan" /208.4 thousand units/ and "Sharyn gol" /155.9 thousand units/ were the most actively traded in terms of trading volume and in terms of trading value--"Berkh uul" (MNT 3.6 billion), "Sharyn gol" (MNT 3.6 billion), and "Tavan tolgoi" (309.3 million).
<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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Suite 906 · Central Tower · 2 Sukhbaatar Square
Sukhbaatar District 8 · Ulaanbaatar 14200 · Mongolia
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.