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.
Wish to subscribe or unsubscribe? Let me know.
Close: Mongolia Related ASX Listed Companies, May 27, 2011 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.049 | 0.001 | 0.047 | 0.049 | 0.048 | 0.049 | 0.047 | 3,507,839 | |
1.475 | 0.045 | 1.460 | 1.480 | 1.440 | 1.480 | 1.440 | 379,047 | |
0.265 | -0.015 | 0.265 | 0.280 | 0.270 | 0.280 | 0.265 | 66,400 | |
0.690 | -0.005 | 0.680 | 0.695 | 0.695 | 0.700 | 0.670 | 427,752 | |
0.013 | -0.001 | 0.013 | 0.014 | 0.013 | 0.014 | 0.013 | 411,000 | |
0.005 | 0.000 | 0.005 | 0.006 | 0.005 | 0.005 | 0.005 | 100,000 | |
0.054 | 0.004 | 0.053 | 0.055 | 0.052 | 0.054 | 0.051 | 4,429,250 | |
0.170 | 0.000 | 0.165 | 0.180 | 0.160 | 0.170 | 0.160 | 55,267 | |
1.240 | 0.020 | 1.195 | 1.240 | 1.220 | 1.240 | 1.200 | 562,822 | |
0.260 | 0.005 | 0.255 | 0.260 | 0.260 | 0.260 | 0.255 | 102,502 | |
0.500 | 0.000 | 0.450 | 0.500 | 0.000 | 0.000 | 0.000 | 0 | |
0.405 | -0.015 | 0.405 | 0.420 | 0.420 | 0.435 | 0.400 | 1,307,883 | |
23.570 | 0.290 | 23.550 | 23.590 | 23.280 | 23.820 | 23.220 | 1,325,473 | |
80.700 | 0.450 | 80.570 | 80.700 | 80.300 | 80.800 | 80.010 | 4,261,905 | |
44.120 | 0.210 | 44.020 | 44.120 | 44.000 | 44.260 | 43.780 | 19,604,004 | |
Source: asx.com.au
CLSA upgrades SouthGobi (01878) to "buy"
May 25 (ETNet) CLSA upgraded SouthGobi (01878) from "outperform" to "buy" following its recent 30% correction, and revised its target price to HK$115 from HK$125.
The research house believes concerns over fuel shortages in Mongolia and soft sales volumes in 2Q will prove short-lived. An ongoing buyback will provide some share price support, while progress on the Soumber development in 2H11 should unlock value. (KL)
BECHTEL COMPANY SELECTED AS CONSULTING FOR SAINSHAND INDUSTRIAL COMPLEX
May 29, Ulaanbaatar, Mongolia, /MONTSAME/ A ceremony ran Friday to establish a contract with the "Bechtel" company which has won a tender of selection of general consulting service for the "Sainshand" industrial complex. The contract has been signed by Ch.Khashchuluun, head of the National Development and Innovation Committee (NDIC); and Steven R. Katzman, director-general of the "Bechtel Asia" company.
Within six months after signing the contract, the Bechtel company will work out a master plan, preliminary technical and economic justifications reflected in the industrial's master plan, versions of contracts on erecting the factories, financing structure and its plan. Factories of the industrial complex will be erected in a several phases.
GREAT CONSTRUCTION IN GOBI NEEDS UNIFIED POLICY
May 26, Ulaanbaatar, Mongolia, /MONTSAME/ The Prime Minister S.Batbold has spoken about a requirement to implement a united policy in the great construction to run in Omnogobi, and then obliged related officials with works.
"It is important for those entities engaged in the mineral sector to construct the paved-roads with joint power instead of running them at individual capitals," the Premier has stressed, adding the cabinet must regulate this work under a unified policy. S.Batbold has ordered a working group led by the First Deputy Premier N.Altankhuyag to draw up a middle-term working plan for the energy, infrastructure and urban development, and to submit it to the cabinet within two weeks.
In accordance with the order, the group is to intensify the drawing up of a strategic plan of Omnogobi aimag's development and a master-plan of development of Tsogttsetsii, Khanbogd and Gurvantes soums. Other tasks are solve a complex of the infrastructure and urban development, intensify the construction of paved-roads in routes Mandalgobi--Dalanzadgad (163 km) and Dalanzadgad--Tavan tolgoi--Oyutolgoi (251 km), seek a possibility to expand the "Gurvansaikhan" airport, boost the assembling of electric line of 110 kWt from Tavan tolgoi to Dalanzadgad.
Tsogttsetsii and Khanbogd soums have some 3,000 people, but it has been forecast that this number will grow to over 10,000 people. For this reason, hospitals, schools and kindergartens must be repaired, even some new ones are needed. Related Ministers have been obliged to study this matter and present the situation to the cabinet.
Having heard the province governor's report, the Prime Minister has obliged the aimag's authorities to make the Tavan tolgoi company's activities more transparent, to renovate the structure and organization if necessary, and to involve the company in the great construction.
The cabinet have got acquainted with environmental situation in the aimag. According to the aimag's governor, the environment has been seriously worsening due to transport of coal by 500 trucks every day which fully destroy the soil. The cabinet has considered as necessity to urgently construct the railway.
GOVERNMENT TO TAKE PRE-PAYMENT FROM OYU TOLGOI
May 26, Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the cabinet meeting obliged the Minister of Finance to establish a contract on taking a payment for exploiting mineral resources and an advance from a piece of the excise tax from the "Oyu tolgoi" company.
The Mongolian side will take the up-front from 2012 by deducting from the tax to be paid from the "Oyu tolgoi" company. The deduction will be performed at every pre-payment as well. This measure has been taken in a need to reduce the interest to 1.59% from 3% which is reflected in the contract on purchasing governmental bonds signed between the government and the "Ivanhoe Mines Mongolia Inc" company, and to ensure the money of 50 million US Dollars that is the second pre-payment made by the investors' side on April 4, 2010 after the approval of the investment treaty.
The third pre-payment of the investors--100 million US Dollars--will be given to the Mongolian side within June 30, 2011 in accordance with a bilateral agreement. In respect of it, the total pre-payment of 150 million US Dollars will be paid to Mongolia with an interest of 1.59 per cent. The both pre-payment and its interest will deduct the tax debt of the investors.
As the sides agreed to transfer the pre-payment to Mongolia in several phases, the government took the first piece of the pre-payment of bonds of USD 100 million from the investors by selling governmental shares, in October of 2009.
STOCK EXCHANGE WEEKLY REVIEW
May 29, Ulaanbaatar, Mongolia, /MONTSAME/ Five stock trades were held at Mongolia's Stock Exchange on May 23-27. In overall, 158.5 thousand shares were sold of 50 joint-stock companies totaling MNT 373.8 million.
Index TOP-20 was 18610.82 points decreasing 1927.2 units or 9.4% against the week earlier. The total market capitalization was set at MNT one trillion and 815.8 billion decreasing MNT 271.0 billion or 13.0%.
Shares of "Khosog trade" /31.9%/, "Sodot" /15.0%/, and "Erdenet suvarga" /15.0%/ increased, but shares of "Shivee ovoo" /35.3%/, "Sharyn gol" /20.2%/, and "Mongol savkhi" /18.4%/ decreased.
13 stocks closed higher, 26 shares declined and 11 shares remained unchanged. Shares of "Olloo" /20.5 thousand/, "Hai Bi Oil" /18.5 thousand units/ and "Genco tour bureau" /18.4 thousand units/ were the most actively traded in terms of trading volume and in terms of trading value--"Tavan tolgoi" (MNT 84.9 million), "Sharyn gol" (MNT 71.9 million), and "Aduunchuluun" (39.4 million).
Mongolia faces critical diesel shortage
May 27 (FT) Mongolia is running critically low on diesel after Russian deliveries failed to arrive, a development that threatens to crimp mining activity in the resource-rich country.
The Mongolian government has ordered a temporary halt of diesel supplies to some miners and has dipped into its emergency stockpile, according to Mongolian state media. In the capital of Ulan Bator, public bus fares were raised by 33 per cent.
The shortage reflects how oil supply troubles in Russia are spreading to neighbouring countries after Moscow recently slapped a prohibitive duty on petrol exports. China this month also banned diesel exports as stubbornly high crude prices threaten domestic supplies.
The diesel shortages in Mongolia have already affected the booming sector. Enebish Baasngombo, executive director of Erdenes MGL, the company developing Tavan Tolgoi – Mongolia's flagship coal deposit, which is expected to have an initial public listing early next year – said operations had seen "some" impact from the shortage.
Another person familiar with the situation said there had not been an immediate impact on mining activities at Oyu Tolgoi, a large copper and gold deposit operated by Rio Tinto and Ivanhoe, but said mine operators were in discussions with the government to ensure adequate fuel supplies.
The Mongolian government expressed confidence that a solution would soon be found. But the shortfall comes at a difficult time, with diesel demand from construction, agriculture and mining peaking during the temperate summer months when temperatures are high enough to allow people to easily work outdoors.
Zorigt Dashdorgj, minister of mineral resources and energy, said that Mongolia was talking to China and Russia to secure additional supplies of diesel.
"By the end of next week, things will be back to normal," said Mr Zorigt. "The Russians are working very hard … to make sure that Mongolia receives diesel in an amount that can satisfy the needs that we have."
Highlighting the scarcity, SouthGobi Resources, a company listed in Toronto and Hong Kong, this month said its fuel supplier had declared force majeure after the cut in Russian exports. Drawing on its own reserves and an alternative supplier, SouthGobi said it would be able to continue normal operations for roughly 45 days.
With SouthGobi's mine a short distance from the Chinese border, customers are able to fuel their trucks in China, pick up coal and drive it out of Mongolia without needing additional diesel, an official said. But the Tavan Tolgoi area is much further inland and delivery trucks would struggle to make it in and out of the country without fuelling up.
Faced by fuel shortages of its own, Russia, the world's largest oil producer, raised a fuel export tax by 44 per cent this month. Vladimir Putin, prime minister, has criticised Russia's oil groups, saying there was no lack of oil but that companies had restricted supplies to keep prices high. Mongolian President Elbegdorj will visit Russia from May 30 on a prescheduled official visit.
A piece of Mongolia's mine
MONGOLIA: The underdeveloped resource-rich country is about to undergo a massive transformation – even if that does mean working with its distrusted neighbour, China
May 27 (Irish Times) THERE AREN'T TOO many capital cities in the world where you can still see a nomadic herdsman pull up on horseback, in full traditional costume, at the traffic lights not far from the country's parliament and within sight of a Louis Vuitton boutique.
Mongol horsemen conquered large swathes of the known world wearing clothes like this traditional garb and riding similar steeds, but even in Ulan Bator the beloved steed is giving way to the 4x4 sports utility vehicle.
Balanced between China and Russia, Mongolia is a mostly undeveloped resource-rich country about to undergo a transformation. It's called the Saudi Arabia of the coal industry, and it may be about to go from being one of the poorest countries in the world to joining the ranks of the richest.
"Mongolia is awakening. The industry is about to take off. We are just starting out to help the Mongolians find what they've got," says Irishman Robert Wrixon, managing director of Haranga Resources. The company is based in the heart of the city that people tend to refer to as UB, above the Louis Vuitton and Zegna stores.
All over the city there are references to Temujin, the warrior who united the country's fractious tribes in 1206 and became known as Genghis Khan. He and his successors conquered most of Asia, including the Middle East and Russia. The biggest of Ulan Bator's handful of Irish pubs is called the Grand Khaan and a huge statue of the man dominates the main square downtown.
However, the power of the tribes ebbed and by 1691, the Manchus, founders of China's Qing Dynasty, had conquered Mongolia. The Chinese still refer to the country as Outer Mongolia. Mongolia was a province of China between 1691 and 1911, and again from 1919 to 1921, and there is a strong antipathy for the Chinese there. But the Mongols have been forced to get over this dislike because China is set to be the country's prime customer for selling resources and it is Mongolia's largest trading partner.
The Russians came next. After the collapse of the Soviet Union, Mongolia had a democratic revolution in early 1990. It has remained one of the region's more solid democracies since.
The mining sector accounts for 81 per cent of exports, 32 per cent of government revenue and 30 per cent of gross domestic product, a share that is likely to increase dramatically.
So far, only about 27 per cent of Mongolia has been mapped to a scale of 1:50,000, which shows that the country's resources remain largely untapped, according to data from the investment bank ResCap.
"The population is small so it relies on resources and there is a lot of exploration still to be done. The resources have to go to China, despite historical antipathies, as there is nothing to the north in Siberia. Mongolia is happy to sell China commodities, but is less comfortable about China having majority stakes in resource projects," says Wrixon, who comes from Cork.
He says that resistance to allowing the Chinese to get involved in building infrastructure could cause delays.
"Finding a rail network is a real issue, and the Chinese have an aptitude when it comes to rail networks," says Wrixon.
Mongolia is the size of western Europe but has a small population of about three million, giving it the world's lowest population density at 1.7 people per square kilometre. UB has the dubious distinction of being the world's coldest capital city.
For a long time, the star in the Mongolian resources firmament was Oyu Tolgoi, which looks set to become one of the world's top three copper mines, just across the border from the world's biggest copper consumer in China. But then came the news about a neighbouring project, coal this time, at Tavan Tolgoi, which is the world's second-largest coal deposit, after China's Shengli.
The Mongolian government will announce the winning bids to develop Tavan Tolgoi shortly. The western and central part of Tavan Tolgoi holds more than one billion metric tons of coal, 68 per cent of which can be used for steelmaking and the rest as fuel in power plants.
Last year coal production doubled to 25 million tons to become Mongolia's top export, encouraging the government to speed up Tavan Tolgoi's development.
"We expect the Mongolian economy to grow up to 10 per cent this year, or 33 per cent in US dollar terms, due to the further estimated appreciation of the MNT [tugrug] against the dollar, and may continue ranking among the three fastest-growing economies," wrote Eurasia Capital in a research note. The problem is finding enough qualified locals to staff the mines.
The new finds keep on coming. In March, Ivanhoe Mines said it had discovered a new shallow copper, molybdenum and gold zone about 10km north of Oyu Tolgoi.
The new discovery, known as Ulaan Khud North, is within an exploration area that is a part of Robert Friedland and Ivanhoe Mine's joint-venture with giant Anglo-Australian mining company BHP Billiton.
Ivanhoe says the near-surface discovery at Ulaan Khud North may be part of a much larger deposit. Edward Rochette, who was for many years Ivanhoe's Mongolia representative, says he negotiated for BHP Billiton to sell its rights in Oyu Tolgoi to Ivanhoe for $5 million (€3.5 million).
Now it's valued as the third-biggest copper mine in the world.
"Ivanhoe's Robert Friedland called me his 'gluemeister' for 16 years. I still talk to him every week. And Rio Tinto's chief executive, Tom Albanese, claims I have acquired more properties of value than anyone in the last 32 years," says Rochette, a larger-than-life figure who has worked in 56 countries.
Rochette has his finger in many pies in Ulan Bator, and has married into one of Mongolia's premier horse-breeding families.
"This is a frontier town. The positives are that the government is good – the prime minister, Sükhbaataryn Batbold, is a professional businessman – and commodity prices don't look like they will crater.
"This frontier town is very positive and it's the place to be. The other day I read a headline asking if Africa was 'the New Mongolia'," says Rochette, who is from Oregon in the US.
"The Mongolian government is trying very hard to make things work. The overseas Mongolians are coming back. They make one tenth of what they were making in Chicago or wherever they were before, but they come back anyway," says Rochette.
Mongolia also has the highest literacy rate in Asia. "These are educable, trainable people," says Rochette. "And as for the next stage, the outlook is very positive, and there will be more focus on mining services and infrastructure."
He points out how the number of cars on the streets has increased dramatically from 10,000 just 10 years ago to about 150,000 now.
"This is a tough country. Genghis Khan reigned for 36 years. It took him 18 years just to conquer the Mongolians, then another 18 years to conquer the rest of the known world. Don't forget that," says Rochette.
"It's a small country. Everyone knows everyone else – a bit like Ireland. Who you know is important. Compared to places like Vietnam, Mongolia is a lot easier, it's more transparent and there is less corruption," says Wrixon.
"We have acquired some good-looking iron ore projects. Now it's the summer, so the next six months will be drilling and exploring to find a nice source.
"Then we delineate a mine plan and then we try to get it to the market. We also have our ear to the ground about other projects, particularly ones near our existing ones."
Haranga raised $25 million when it listed on the Australian Stock Exchange ASX in December, which gives it a war chest to spend money on acquisitions.
"The price of iron ore has gone up six- or seven-fold in the past few years," explains Wrixon.
"Chinese steel mills are predominantly built on domestic iron ore. Mongolian iron ore needs to be exported. Coal is more or less the same story."
Seamus Brennan, who is from Laois, is chief adviser to a government committee examining duty-free zones.
"I'm very optimistic about the prospects for Mongolia. This is a young country, it's only 20 years old. There is a great future here," says Brennan.
Oleg Deripaska Loses Fear And Favour Value In Mongolia, Ukraine, Russia Too
Moscow, May 27 (Business Insider) Oleg Deripaska has been losing ground to Russian rivals in Mongolia, and is facing unprecedented administrative sanctions in Ukraine and Russia. The commercial effect is to force upwards the cost line on his balance-sheets, squeezing the earnings from which he must pay his debts and shareholder dividends. The political effect is to undercut the perception that Deripaska and his allies are too tough to resist.
In Mongolia, the Mongolian tale of Tavan Tolgoi has been running for several years now. In the Gobi Desert, and with at least 6 billion tonnes of coking coal yet to be extracted, it is one of the largest deposits in the world. A year ago, the Mongolian government halted the sale of a 49% share in the projecton terms devised by JP Morgan and Deutsche Bank. Since then, the idea was adopted instead of retaining 70% of the project equity in government and domestic hands, and licensing the project operating rights in a two-stage tender.
Fifteen international bidders have been recognized this year by the Mongolian mine owner, Erdenes Tavantolgoi. These include Chinese companies, Peabody of the US, Arcelor Mittal, Xstrata, Vale of Brazil and two Indian companies. Deripaska's bid was submitted by his En+ holding, which holds Deripaska's shares in Rusal, and owns outright Eurosibenergo, the group's electricity producer and Strikeforce Mining and Resources (SMR), a molybdenum miner. These two have failed in bids to attract Chinese investors and a Hong Kong share listing.
Deripaska's appearance in the Tavan Tolgoi bidding without a Chinese partner is significant, because without Chinese commitments to buy the coal and finance the several-billion dollar cost of the project, EN+ lacks the credit to match the competition. The closest Deripaska comes to a railway – required to cover the ground between Tavan Tolgoi and the nearest Chinese coal-consuming steelmill – is RCTM, a plant producing railcars for a variety of bulk cargoes.
Last September, EN+ and Eurosibenergo made this announcement of a no-money memorandum of understanding with the Mongolians. A link to the Tavan Tolgoi mine project is mentioned, but no source for the financing needed. A miner already established in Mongolia says the government in Ulan Bator is anxious not to allow China to dominate the terms of extraction and sale of Tavan Tolgoi's coal, nor the Russians either. If Deripaska is hoping that the EN+ bid will cover for the Chinese, he is likely to lose, the source notes.
The traditional Mongolian tradeoff between the powerful neighbours to south and north (and Japan to the west) explains why Deripaska's Russian rivals in the Tavan Tolgoi contest are part of a geographically and politically more diverse lineup.
Cash and railways are also the key to the Tavan Tolgoi tender, so state-owned Russian Railways has submitted a bid of its own, with more of both than EN+ has so far been able to muster. In this rival Russian bid, Russian Railways (RZD), run by Vladimir Yakunin, is partnered by Siberian Coal and Energy Company (SUEK), owned by oligarch-sized figures, Andrei Melnichenko and Sergei Popov. SUEK is Russia's largest coal-miner, specializing in steam coal, not coking coal. RZD and SUEK are consortium members of a syndicate led by Korea Resources Corporation, and including Japanese coal buyers and traders – Marubeni, Sumitomo, Sojitz, and Itochu.
In February, SUEK chief executive Vladimir Rashevsky publicly confirmed SUEK's keenness to win the tender, and Yakunin followed suit a few days later. RZD has long-established relations with Mongolia in the railway sector, and in 2009 prepared a survey of the country's railways and future rail needs. RZD won't say it for the record, but sources make clear that Yakunin, Melnichenko and Popov don't want Deripasaka in their syndicate, and don't believe he adds to the Mongolian favour they already enjoy.
…
Ex-Banker Wants You to Trade Wall Street 'Misery' for Mongolia
May 27 (Bloomberg) -- Former Merrill Lynch & Co. banker Mike Howe is moving to New York to help bored finance workers escape Wall Street for far-flung jobs and adventures, from Mongolian venture capital to African charities.
The 26-year-old former money manager is opening U.K. startup recruitment website Escape the City Ltd. in the U.S. next month. The company has attracted more than 30,000 members since founders Rob Symington, 27, and Dom Jackman, 28, quit consulting firm Ernst & Young in 2009.
"Escape the City was created specifically to help talented people escape from unfulfilling corporate jobs after we realized that our own feelings of misery and frustration at work were shared by a lot of people," Symington said in an interview in London. "We stumbled upon a business opportunity by following a hunch about job dissatisfaction to its logical conclusion."
London's financial services industry employs 318,000, still 10 percent below the 2007 peak, and growth since has been slow, according to the Centre for Economics & Business Research Ltd. Bankers' bonuses have been taxed and restricted by politicians since Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc took taxpayer bailouts in 2008.
"I don't think I've ever met more people who are highly trained and unhappy in banking -- except when it comes to the money," said Peter Hahn, 53, a former Citigroup Inc. banker who lectures on finance at London's Cass Business School. The site "will probably appeal to people who have paid off financial liabilities like student debt and haven't settled down yet to family life. It's a sizeable but niche group," he said.
Adventure and Enterprise
Escape the City advertises jobs that meet its criteria of adventure and enterprise, Symington said. The company, which earned a profit in its first year, spreads the word with weekly e-mails of jobs from Indian microfinance to Moroccan surf camps, and evening events where adventurers regale crowds with tales of skateboarding across Australia or cycling around the world.
"The City trains you up and gives you exposure," Symington said. "What's wrong with it is it felt like the work we did -- crunching spreadsheets -- just didn't matter to anyone, including to our customers or employers."
Harry Minter left his job at hedge fund Headstart Advisers Ltd. to manage the Guludo beach lodge in Mozambique after discovering the job posted on Escape the City. Will Tindall found a job as chief communications officer of Asia Pacific Investment Partners, which invests in companies in Mongolia. He hired a chief operating officer through the site this year and is advertising for a chief financial officer.
'Real Alternatives'
"The people who look at Escape the City are typically entrepreneurial and want to do something out of the norm," Tindall, 28, said in an interview. "Mongolia isn't the easiest place to operate."
…
China companies get green light for rare earth exchange-report
May 27 (Reuters) - China's biggest rare earth producer, Baotou Steel Rare Earth (Group) Hi Tech , has won local government approval to start an exchange to trade the increasingly lucrative metals used in many high-tech goods, state media reported on Friday.
The regional government of Inner Mongolia, where the Shanghai-listed company's mining and processing operations are based, gave the "green light to the establishment of a rare earth exchange in the city of Baotou," the Xinhua news agency reported, citing city officials and an earlier statement from the Baotou Steel Rare Earth (Group) Hi Tech.
That company and another, Inner Mongolia Hi-Tech Holding Co. Ltd., will run the exchange, said the report, which did not say when the bourse would open or whether the central government has also given its nod.
The report called the decision a "breakthrough" in Chinese companies' efforts to establish a unified national exchange that will "regularise market flows of rare earths" and give them greater leverage over foreign buyers.
But the exchange would confine itself to relatively modest trading in at least some of the 17 elements categorised as rare earths, the report suggested.
"The government required that the exchange should not deal in futures trading," it said.
"Sources close to the matter say the exchange can only deal with spot transactions of rare earth."
The exchange will nonetheless help China "play its influence over rare earth pricing on the global market," said Xinhua, citing industry observers.
China controls about 97 percent of rare earth output, and has alarmed customers in Japan, the United States and Europe by clamping down on production and sale of rare earth elements, citing a need to clean up highly polluting production processes and to stop illegal exports.
The crackdown cut exports by 62 percent in the first four months of 2011 compared with a year earlier, and has been a windfall for rare earth miners and prospectors outside China, such as U.S. firm Molycorp Inc .
China's exports of rare earths fell by more than half in April from a year previously, a Reuters breakdown of detailed Customs data showed this week, despite headline official data that indicated a rise of 46 percent. [ID:nL3E7GN1PS]
This month, Beijing said it will crack down on smuggling of rare earths and impose quotas for exports of rare earth alloy products as part of its campaign to strengthen control over the sector.
<Mogi & Friends Fund A/C>
Historic +17.6%, Qtd -33.1%
Mogi & Friends Fund is a tiny fund of A$23K I created in late September with a few friends to put my own (and a few friends') money where my mouth (just mine) is.
…
Mogi
---
"Mogi" Munkhdul Badral
Executive Director
CPS International LLC
Telephone/Fax: +976-11-321326
Mobile: +976-99996779
Email: mogi@cpsinternational.mn
P Please consider the environment before printing a copy of this email.
Central Tower · 12th Floor · Left Wing · 2 Sukhbaatar Square
Sukhbaatar District 8 · Ulaanbaatar 14200 · 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.
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.
No comments:
Post a Comment