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, April 29, 2010 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.061 | -0.002 | 0.061 | 0.061 | 0.063 | 0.063 | 0.061 | 2,230,913 | |
1.545 | -0.055 | 1.545 | 1.540 | 1.590 | 1.615 | 1.505 | 502,458 | |
0.470 | 0.000 | 0.430 | 0.470 | 0.445 | 0.470 | 0.425 | 568,023 | |
0.900 | -0.065 | 0.865 | 0.900 | 0.950 | 0.950 | 0.780 | 3,291,847 | |
0.550 | 0.000 | 0.550 | 0.600 | 0.500 | 0.550 | 0.500 | 64,682 | |
0.020 | -0.003 | 0.020 | 0.022 | 0.023 | 0.023 | 0.020 | 9,173,064 | |
0.007 | 0.000 | 0.007 | 0.010 | 0.000 | 0.000 | 0.000 | 0 | |
0.055 | 0.000 | 0.055 | 0.056 | 0.056 | 0.060 | 0.054 | 15,782,689 | |
0.185 | 0.000 | 0.180 | 0.190 | 0.185 | 0.185 | 0.180 | 340,766 | |
1.130 | -0.025 | 1.120 | 1.130 | 1.130 | 1.140 | 1.090 | 788,528 | |
0.260 | -0.015 | 0.260 | 0.265 | 0.275 | 0.280 | 0.260 | 590,904 | |
0.560 | 0.005 | 0.520 | 0.560 | 0.530 | 0.570 | 0.500 | 554,702 | |
24.280 | -0.470 | 24.260 | 24.300 | 24.540 | 24.690 | 24.030 | 1,665,880 | |
82.210 | -1.160 | 82.210 | 82.230 | 83.400 | 83.410 | 81.750 | 5,427,741 | |
45.830 | -0.460 | 45.820 | 45.850 | 46.400 | 46.410 | 45.450 | 28,623,030 | |
Source: asx.com.au
Mongolia wins case against Altandornod Mongol
April 29 (news.mn) The International Arbitration Court has decided in favor of the Government of Mongolia and rejected the claim of Altandornod Mongol LLC and Vostokneftgas LLC for USD1.6 billion. The dispute started three years ago, and the court’s decision 169-page ruling was received by e-mail at 3 in the morning today.
The news was revealed by Minister for Justice and Internal Affairs Ts.Nyamdorj, State Secretary G.Bayasgalan, and Chief of Policy Implementing Board at the Ministry, T.Altangerel, at a press conference. Nyamdorj noted this was the third time Mongolia has been vindicated in a major dispute since its transition to a market economy. That the court upheld Mongolia’s right to impose the 68% windfall profit tax, and asked Altandornod Mongol to pay it is a message to foreign companies and investors to follow the country’s laws.
Mongol Bank increases policy rate
April 29 (news.mn) The Mongol Bank has increased policy rate by 0.5% to 11.5%. Revealing this at a Press conference on Thursday, the Bank officials also said money supply at the end of March was 67% or MNT1. 98 trillion more than in the same period last year. The Bank feels it will keep rising because of more foreign investment in mining, expansion of the state budget, and banks granting more commercial loans.
Inflation in March stood at 7.4%. There was a drop in meat price and inflation without food items and consumer goods was 7.9%.
The Mongol Bank feels the economy is showing signs of overheating.
Map of new railway prepared
April 29 (news.mn) Private geodesy companies have prepared a map on a scale of 1:1000 of the proposed 1160-km long railway from Dalanzadgad to Bayantumen, meant to help carry coal from Tavantolgoi. They consulted the Railway Managing Office often.
Earlier, the Agency of Land Affairs, Construction and Geodesy had prepared a drawing of the railway route as described in the railway policy of the Government. Its way to Bayantumen from Dalanzadgad goes via Tavantolgoi, makes a detour to Tsagaansuvarga and then carries on to Sainshand, Baruun-Urt, and Choibalsan.
Subsidy to coal companies to continue
April 29 (news.mn) The Government meeting on Wednesday discussed several measures in the energy sector and approved a long-term plan for its development. It deals with issues such as loans earlier taken by state owned companies, and Baganuur and Shivee-Ovoo. With changes in the exchange rate, the companies find repayment difficult. The Government will now allocate money to the sector to pay off old debts.
Subsidies to state owned companies and Baganuur and Shivee-Ovoo will not be reduced in the next three years. New energy sources will be found and the capacity of power plants III and IV will be raised.
The Government hopes these companies will be in better financial health once their debts are paid off and arrear payments due from consumers are received.
Free trade zones to open in 2013
April 29 (news.mn) Both the Altanbulag and the Tsagaan Nuur trade free zones will be opened in 2013, according to assurances given by the working group in the Mayor’s Office with responsibility for the matter.
Parliament passed the law on such zones in 2002 and the working group began work the next year. MNT4.5 billion was allocated for development of Altanbulag in 2011, after MNT4.3 billion was spent in 2010. The infrastructure plan for Tsagaan Nuur is being prepared.
North Korea offers to send workers
April 28 (news.mn) Some MPP officials, including Secretary General U.Khurelsukh, MPs D.Ochirbat and D.Zagdjav, Minister for Food, Agriculture and Light Industry T.Badamjunai and Managing Council member D.Sarangerel recently visited North Korea.
There they met with various leaders including the Chief of the People’s High Assembly, Kim Yon Nam, and discussed traditional friendship and further cooperation.
Kim Yon Nam felt Mongolia could import North Korean construction workers and skilled technical personnel for help in developing its building, road and infrastructure sectors. The last of his four visits here was in 2007.
ULAANBAATAR METRO TO BE COMPLETED BY 2017
WILL THE ULAANBAATAR SUBWAY SYSTEM TURN FROM MYTH TO REALITY?
Much media attention has recently been devoted to the news of the impending metro construction for Ulaanbaatar. For a long time people have said that a metro is not feasible for a city like Ulaanbaatar which has such low population density and is so small in size. Despite this the state professional team has conducted a survey which states that the its technically possible and will bring vast economic advantages. The following is an interview with the head officer of the Bureau for Public Transportation.
It sounds like the construction plans for the Ulaanbaatar metro are going well. What is the current stage of development?
For the moment we use only buses for public transportation but with the increase in population in the city we have to think about other ways to transport the public. The traffic jams in the city are now terrible and just getting worst. Because of this, we have started thinking about installing a metro system to cover Ulaanbaatar. According to our statistical predictions, public transport will become a very serious issue within the next 5 to 10 years. Two Korean companies, “Su Song” and “Seoul Metro” have now won the contract to build the new metro system. We are currently reviewing their offers and the project is set to start after it has passed the board of governor’s meeting.
Ulaanbaatar is sandwiched between four mountains. Is there an East to West line planned?
We have planned to build two metro lines, one vertical and one horizontal. The Horizontal line will start from 22 Tovchoo and reach to Amgalan which is about 28.4km long. The Vertical line will start from the 17th School, then go through the Nogoon Nuur, Mongolian National University, Chinggis Avenue, Peace bridge and finish at the Buyant-Ukhaa which is about 21.3km long.
Which type of metro has been chosen? LRT or MRT?
The LRT type is chosen because it is suitable for low population density city. the LRT metro has typically 3-4 cars.
Only that much even LRT metro has more capacity
The most congested road in Ulaanbaatar is Peace Avenue, according to our research, about 6,000 people pass through Peace Avenue each hour. The LRT is capable of transporting 3,000 to to 5,000 passengers in that same time. The main advantage of the LRT is its construction cost, an LRT metro costs on average between 30 and 90 billion MNT per kilometre while a metro would cost between 80 and 1.2 Trillion MNT. The running costs of the two systems are also different with the LRT being considerably cheaper. It is estimated that in 2020 there will be 15,000 passengers an hour and that is sufficient for the LRT metro.
Due to poor short term decisions and lack of serious planning, we are often forced to changed things later on which can be very costly. Are you sure that we will not need to change from LRT to MRT higher capacity systems after 30 years?
We don’t do that kind of thing. Also it is technically possible to extend the LRT’s capacity to make it into an MRT.
-There are 2 kinds of metros, subway and shuttle. Which one do you prefer to use? In my view, subway is better especially in central area.
-We have chosen both types. Subway will be used in the downtown area and shuttle in the suburban areas. From Tavan-Shar to Ofitseruudiin Ordon it will be subway and the remaining parts will be shuttle.15-20m high altitude electrical lines are necessary for the shuttle.
-Moscow’s metro is 40m deep. How about Ulaanbaatar?
A too deep system is not only costly but also inconvenient for passengers. Some countries use the metro system as an evacuation route and shelter for its citizen’s but we think that 15 to 20 meters deep is enough for our needs. It will also give us the opportunity to solve the road engineering problems we are currently seeing. The Shuttle is cheaper than the subway but it’s noisy and doesn’t look great.
Isn’t the vertical line too short? Why don’t you extend it until Doloon Buudal?
We are working together with the MRTCUD to make those sorts of decisions. From Nogoon Nuur to the 32 circle, the new 7th Khoroolol is launching now. So this area will be soon be a high population density and we made our decisions based on the levels of population in each area.
What will be the distance between stations? From West to East how many stations will be built altogether? Foreign countries metro systems take 2-3 minutes to approach the next station. How will Ulaanbaatar work out?
According to our plan, the distance between stations will be between 800 meters to 1,000 meters. There will be between 35 and 40 stations all together. The bus routes will be changed to then serve other areas not connected by the metro. The speed of the LRT will be about the same as other countries.
How about the fees for use of the metro?
Ticket will be set initially at 400MNT but will probably change between now and when it opens. Today we are paying a single fare regardless of the distance covered, this is an unfair system which will change in the future.
I know the project hasn’t ever started yet, but how about the staff? Where will they get trained?
The “Seoul Metro” company has its own training centre in Korea. 4 staffs from our bureau have just finished their 6 months training. As we get going with the project, more staff will be trained.
I know it’s quite early to talk about investments in the project but I heard that some countries have expressed interest in helping financing the metro, what are the next steps?
The Government of Mongolia will decide which company from what country will be able to help us finance the project.
When will we have a metro? Are the 2 lines going to start construction at the same time?
We are planning to build the horizontal line first. In 2011 we will complete the exact drawings of the metro line to decide where all the stations will be and where it will start and complete. By 2013 we will choose the company to implement the project on the Mongolian side and we hope that it will be finished in 2017. The most important thing is of course the investment, preliminary figures state that we need 4.5billion USD to complete the project. This is almost the same amount as 2 years worth of budget for the entire country.
EDITOR’S NOTE: There has been already for many years a fake website for the Ulaanbaatar metro: http://ulaanbaator.narod.ru/
STOCK EXCHANGE WEEKLY REVIEW
May 1, Ulaanbaatar, Mongolia, /MONTSAME/ Five stock trades were held at Mongolia's Stock Exchange on April 25-29. In overall, 324.2 thousand shares were sold of 51 joint-stock companies totaling MNT 330.3 million.
Index TOP-20 was 21053.58 points decreasing 1248.98 units or 5.6% against the week earlier. The total market capitalization was set at MNT two trillion and 104.7 billion decreasing MNT 120.0 billion or 5.4%.
Shares of "Sodot" /32.2%/, "Erdenet suvarga" /31.7%/, and "Talkh chikher" /21.1%/ increased, but shares of "Mongol nekhmel" /34.9%/, "Almaas" /27.7%/, and "Eermel" /23.8%/ decreased.
21 stocks closed higher, 25 shares declined and five shares remained unchanged. Shares of "Hermes center" /177.4 thousand/, "Genco tour bureau" /40.6 thousand units/ and "Remikon" /22.8 thousand units/ were the most actively traded in terms of trading volume and in terms of trading value--"Sharyn gol" (MNT 98.4 million), "Baganuur" (MNT 45.5 million), and "APU" (29.3 million).
Ivanhoe Mines Ltd (IVN) Downgraded by BMO Capital Markets to “Market Perform”
April 28 (ABMN) Equities research analysts at BMO Capital Markets downgraded shares of Ivanhoe Mines Ltd (NYSE: IVN) from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday.
Separately, analysts at Zacks Investment Research reiterated a “neutral” rating on shares of Ivanhoe Mines Ltd in a research note to investors on Wednesday, April 6th.
Shares of Ivanhoe Mines Ltd traded down 1.65% during mid-day trading on Thursday, hitting $25.965. Ivanhoe Mines Ltd has a 52 week low of $12.15 and a 52 week high of $30.03. The stock’s 50-day moving average is $26.68 and its 200-day moving average is $25.9. The company has a market cap of $16.972 billion.
Strong gold price drives Centerra Q1 profit up 10 pct
* Q1 EPS $0.58 vs $0.53, last year
* Q1 rev down 2 pct to C$250.2 mln
* Reaffirms 2011 production outlook
* To pay $C0.30 special dividend (Adds dividend details in paragraph 2,3, outlook and peers in paragraphs 9,10)
April 29 (Reuters) - Centerra Gold posted a 10 percent rise in its first-quarter profit helped by increased gold prices, offsetting the impact of lower output and higher costs.
The Toronto-based Gold miner also declared a dividend of 40 Canadian cents a share, which includes a special dividend of 30 Canadian cents, and annual dividend of 10 Canadian cents.
The dividend is payable May 18 to shareholders of record May 12.
The company, which owns gold properties in Asia, former Soviet Union and other emerging markets, reported a net income of $136.6 million or 58 cents a share, for the January-March quarter.
This compares with earnings of $123.9 million, or 53 cents a share, a year ago.
The company, which owns the Kumtor mine in the Kyrgyz Republic and Boroo mine in Mongolia, said revenue was down 2 percent at $250.2 million for the first quarter.
Analysts on average had expected the company to earn 32 cents a share, on revenue of $213.52 million, for the quarter, according to Thomson Reuters I/B/E/S.
Consolidated gold production for the quarter was 180,716 ounces at a total cash cost of $370 per ounce, down from 211,039 ounces at a cash cost of $340 per ounce, last year.
While average realized gold price for the quarter rose 25 percent to $1,385 per ounce, Centerra, which has market capitalization of more than $4 billion, said in a statement.
Centerra also backed its full-year production outlook of 600,000-650,000 ounces at total cash cost of $460 to $495 per ounce produced. It also reaffirmed its capital expenditures budget of $213 million.
On April 27, Barrick Gold , the world's largest gold miner, had reported a 22 percent increase in quarterly profit, driven largely by a surge in bullion prices. [ID:nN27110953]
Centerra Shares closed at C$17.60 on Friday on the Toronto Stock Exchange.
Original company releases:
Centerra Gold First Quarter Results, Net Earnings of $137 Million or $0.58 Per Share – Marketwire, April 29, 2011
Centerra Gold Declares a Special Dividend of Cdn$0.30 Per Share and an Annual Dividend of Cdn$0.10 Per Share – Marketwire, April 29, 2011
Management’s Discussion and Analysis (“MD&A”) For the period ended March 31, 2011 – Marketwire, April 29, 2011
Voyager: March Quarter Activities Statement
April 29, Voyager Resources Limited (ASX:VOR) --
Highlights
Ø Voyager Resources completed 24 diamond core drill holes during the quarter at its Khongor Copper Gold Porphyry Project located in the South Gobi Arc Terrain that hosts the World Class Oyu Tolgoi Copper Gold Deposit in Mongolia.
Ø Initial assay results were received from the first 12 diamond core holes drilled at Khongor. Results have been encouraging, returning:
o 93.1 metres at 0.23% copper and 0.03 g/t gold (KH0001D), including:
§ 13 metres at 0.45% copper and 0.06 g/t gold and
§ 15.35 metres at 0.45% copper and 0.07 g/t gold
o 36.65 metres at 0.49% copper and 0.1 g/t gold (KH0003D), including:
§ 17.55 metres at 0.72% copper and 0.14 g/t gold and
§ 5.55 metres at 0.70% copper and 0.17 g/t gold
o 53.94 metres at 0.73% copper and 0.18 g/t gold (KH0005D), including:
§ 11.19 metres at 1.8% copper and 0.57 g/t gold
o 22.48 metres at 0.79% copper and 0.16 g/t gold from 65.55 metres (KH0006D)
o 2.0 metres at 327.7 g/t silver from 126.07 metres (KH0009D)
o 7.0 metres at 1.99% copper and 0.47 g/t gold from 52.2 metres (KH0010D)
Ø These latest results have expanded the porphyry copper mineralised zone to an area measuring some 400 by 150 metres, doubling the size of the target previously reported.
Ø Geophysical Surveys have now commenced at Khongor with an Induced Polarisation survey commencing on 7 April 2011 to identify additional and deeper targets for drill testing.
Ø Voyager Resources announced a capital raising, by way of a “Private Placement” and “Renounceable Rights Issue” to raise approximately $10.4 Million before costs.
…
Hunnu: MARCH QUARTERLY REPORT 2011
April 29, Hunnu Coal Limited (ASX:HUN) --
HIGHLIGHTS
Ø 30 million shares placed to Banpu PCL for $45 million at a 20.1% premium to the transaction date market price.
Ø Initial Coal Resource for the Tsant Uul Coking Coal Project of approximately 90Mt, with 61Mt in the Measured and Indicated JORC categories (34Mt Measured, 27Mt Indicated).
Ø A mining license application for Tsant Uul Coking Coal Project has been lodged and is being processed by the Mineral Authority of Mongolia. Mining is expected to commence in the second half of 2011.
Ø 35,089 meters of drilling for 237 holes has been completed on the Tsant Uul Coking Coal Project. A total of seven drilling rigs are still operating on site.
Ø 24,500 meters of drilling for 273 holes has been completed on the Unst Khudag Project with an upgrade of the JORC Resource due imminently.
Ø Acquisition of 20,000m2 of land at the Choir rail head.
Ø Commenced construction of a rail spur at Choir depot to the Trans-Mongolian Railway.
Ø Commenced feasibility study into construction of a rail line from Choir to Unst Khudag.
Ø Drilling commenced at Tsokhio and Khuree-2 Coal Projects.
Ø Drilling schedule to commence in May at Ar Zuun Gol and Zuun Gol in the Gobi Altai to test coking coal targets previously identified.
Ø Appointment of Beijing based General Manager of Marketing.
…
Notice of Annual General Meeting
Haranga: March 2011 Quarterly Activities Report
April 27, Haranga Resources Limited (ASX:HAR) --
- Highlights -
Exploration Activity
· Encouraging drill results from the Shavdal project. Ten holes intersected significant iron mineralisation in the main magnetic anomaly, confirming the prospectivity of this discovery. Best intersection:
o 24m at 26.0% Fe from 32m
including 6m at 36.2% Fe from 34m
· Excellent magnetic survey results from the Company’s flagship Selenge project.
· Scout drilling programme commenced at the Sumber iron ore project.
· Magnetic survey commenced over the Tumurtei Khudag project area.
· Ground checking and geological surveying commenced at both the Selenge and Tumurtei Khudag iron ore projects in advance of planned drilling.
Corporate
· Chief Operating Officer appointed to oversee Mongolian operations.
· Final acquisition payments completed to secure 75% of both the Shavdal and Sumber iron ore projects.
· The Company continues to assess prospective iron ore and manganese opportunities in Mongolia.
· $21 million in cash reserves
…
Aspire: QUARTERLY REPORT
April 28, Aspire Mining Limited (ASX:AKM) --
HIGHLIGHTS
· Raw coal analysis results confirms a high quality coal at Ovoot and the coal is categorised as a high quality bituminous coking coal
· Washing yield analysis confirms a high yield potential
· 2-D seismic interpretation has identified additional coal targets to the east and south of the Ovoot Coal Resource area
· Noble Group builds 8.6% shareholding interest in Aspire
· 2011 Ovoot drilling programme has commenced with two drill rigs on site
· Scoping Study for the Ovoot DSO Project has commenced
…
Blina: Quarterly Report
April 29, Blina Minerals NL (ASX:BDI) --
HIGHLIGHTS
· Discussions have continued with respect to a copper project in Mongolia
…
C @: Activities Update
April 29, C @ Limited (ASX:CEO) --
· Substantial coal licenses secured in Mongolia
· Geological team established and operational in Mongolia
· In-country delegate secured to identify & develop coal deposits in Indonesia
…
Xanadu: Quarterly Report Period ending 31 March 2011
April 28, Xanadu Mines Limited (ASX:XAM) --
Highlights
· Positive exploration results at the Galshar thermal coal project with aggregate seam thicknesses of up to 38 metres confirmed.
· Three new shallow dipping coal seams identified at Galshar following trenching.
· Commencement of Scoping Study – Galshar Coal Project.
· Xanadu acquires the highly prospective Sharchuluut Uul (formerly known as Mogoin Gol ) porphyry copper-gold project.
· Xanadu and Noble Group formalise agreements for a strategic coal and iron ore alliance & Joint Venture (“JV”) in Mongolia.
· Noble acquires a 9.9% stake in Xanadu.
· Exploration resumes at Elgen-Zos JV gold project in the south east Gobi.
· Solid progress on coking coal project generation.
· $21.0 million cash on hand at 31 March 2011 to fund aggressive exploration programme and pursue new opportunities.
<Mogi & Friends Fund A/C>
-2.3% QtD,
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.
…
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.
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