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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Source: asx.com.au
Close: Mongolia Related ASX Listed Companies, June 10, 2011 | | |||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.044 | 0.008 | 0.043 | 0.044 | 0.037 | 0.044 | 0.037 | 5,602,106 | |
1.400 | -0.015 | 1.370 | 1.420 | 1.380 | 1.410 | 1.350 | 1,475,230 | |
0.300 | 0.075 | 0.255 | 0.300 | 0.225 | 0.300 | 0.225 | 543,932 | |
0.640 | -0.010 | 0.630 | 0.640 | 0.650 | 0.665 | 0.640 | 1,578,436 | |
0.011 | 0.001 | 0.011 | 0.012 | 0.011 | 0.011 | 0.010 | 1,857,749 | |
0.005 | 0.000 | 0.005 | 0.006 | 0.005 | 0.005 | 0.005 | 500,000 | |
0.067 | 0.002 | 0.067 | 0.068 | 0.066 | 0.067 | 0.064 | 4,847,814 | |
0.175 | 0.000 | 0.175 | 0.180 | 0.180 | 0.180 | 0.175 | 292,936 | |
1.175 | -0.035 | 1.170 | 1.180 | 1.210 | 1.220 | 1.175 | 428,040 | |
0.230 | -0.005 | 0.230 | 0.235 | 0.230 | 0.235 | 0.230 | 166,000 | |
0.400 | 0.000 | 0.380 | 0.500 | 0.000 | 0.000 | 0.000 | 0 | |
0.395 | -0.005 | 0.380 | 0.395 | 0.400 | 0.400 | 0.390 | 66,347 | |
21.690 | -0.030 | 21.690 | 21.700 | 21.700 | 21.850 | 21.620 | 792,109 | |
80.200 | 0.410 | 80.180 | 80.200 | 80.350 | 80.550 | 79.950 | 1,970,143 | |
43.150 | 0.200 | 43.150 | 43.160 | 43.240 | 43.430 | 43.080 | 8,454,877 | |
Mongolia Energy (0276) in talks for concession areas team-up
June 22 (ETNet) Mongolia Energy Corporation (MEC, 00276) said it has been in discussion with an independent third party relating to a possible co-operation for developing the concession areas of MEC in Mongolia other than the Khushuut Coking Coal Project which may include a possible subscription of new shares of MEC by such independent third party.
No forms or terms have been agreed with such independent party at this stage.
MEC is also considering other potential resources projects which may have synergy to its existing business operation. (HL)
Link to MEC release, June 21 (included in last issue of CPSI NewsWire)
Erdene Resource Development Corp. 2010 Annual General Meeting-June 23, 2011
HALIFAX, NOVA SCOTIA--(Marketwire - June 21, 2011) - Erdene Resource Development Corp. ("Erdene")(TSX:ERD)
Erdene will hold its Annual General Meeting on Thursday, June 23, 2011 at 5:30pm (Atlantic Time) at Purdy's Wharf Tower II, 1300 – 1969 Water Street, Halifax, Nova Scotia. A live webcast of Peter Akerley's presentation will be available on Erdene's website at: AGM Webcast.
SouthGobi: CHANGE OF STOCK SHORT NAME
June 22, SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878). The board of directors of SouthGobi Resources Ltd. (the "Company") announces that the English and Chinese stock short names for trading in the shares of the Company on The Stock Exchange of Hong Kong Limited will be changed from "SOUTHGOBI" to "SOUTHGOBI-S in English and "南戈壁" to"南戈壁-S" in Chinese with effect from 9:00 a.m. on 28 June 2011. The stock code of the Company remains as "1878".
The Board considers that the change of English and Chinese stock short names, will provide the Company with a more appropriate identification of its secondary listing status on The Stock Exchange of Hong Kong Limited.
Energy Resource coal was 24% of Mongolia's coal export in 2010
June 22 (news.mn) Energy Resource LLC, which held an IPO in the Hong Kong Stock Exchange in the name of its parent company Mongolian Mining Corporation, has published its report for 2010. It produced 3.9 million tons of coal in the year. Work on a coal washing plant and developing infrastructure was carried out on schedule. Revenue from coal sales was as anticipated and profits and distribution of dividends have been satisfactory.
The company accounted for 24% of the total exported coal in 2010. The present year's target is output of 7 million tons of which 5.5 million tons will be sold after washing.
Mogi: originally sent yesterday, below article adds broker comment.
UPDATE: Petro Matad to start well testing in Mongolia shortly
UPDATE....with broker comment
June 22 (Proactive Investors) Mongolian oil explorer Petro Matad Ltd (LON:MATD) said well testing is scheduled to begin shortly on the five wells drilled to date on the Davsan Tolgoi discovery - part of the Block XX in the country.
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The results pleased house broker Westhouse Securities, which said the statement overall was 'positive'. It added: "We particularly note the intention to drill year round on Block XX and the positive statement on the prospectivity on Blocks IV and V."
The broker also highlighted the "strong" $51.7m cash position at the end of the year. It reiterates 'buy' on the stock, with a target price of 341p.
Voyager: Notice of General Meeting
June 22, Voyager Resources Limited (ASX:VOR) --
ABOUT RESEARCH FOR "SAINSHAND" INDUSTRIAL COMPLEX
June 22, Ulaanbaatar, Mongolia, /MONTSAME/ A report was given Tuesday by L.Zorig, a deputy head of the National Development and Innovation Committee (NDIC), and by Richard Garbarino, a general coordinator of a project of the Bechtel Corporation that has been selected the advisor to the "Sainshand" industrial complex. The corporation has finished researches needed for making conclusions to the industrial complex.
The Bechtel Corporation received the right of the advisor after establishing a related contract May 27, and is liable to conduct the core research within six months. As of present, the research is running at the first stage. The research is divided into 12 phases such as ways of raising financial source, plans for construction of processing factories etc.
According to the research, six processing factories of metallurgy, metal balls, coal, coking coal, and cement will be erected. In addition, versions of the factories' locations will be researched.
Officials say that the tender evaluation commission selected the Bechtel Corporation because of its technical indicators. The Mongolian side will pay USD 2.4 million for the service.
In accordance with the contract, the corporation will complete the research and present it to the cabinet before November 27. After this the corporation will give a report on number of companies which will be needed for the financing and construction, and the cabinet will launch the construction and announce an international tender.
A matter on work force has been raised at the news conference. Skilled specialists will be hired for the processing factories, meanwhile, the Mongolian cadres will be trained.
BUSINESS COUNCIL IS SET UP
June 22, Ulaanbaatar, Mongolia, /MONTSAME/ A business council will be set up under the General taxation office (GTO).
Aims of the council are to improve a business and taxation environment, to assist economic growth with a taxation policy, to refine upon a taxation legal environment.
The council will consist of 12 members. Its first meeting is expected this Friday.
Sovereign funds, private equity flocking to Mongolia
ULAN BATOR, June 22 (Reuters) - Sovereign wealth funds, private equity and some of the world's multi-billionaires have descended onto Mongolia to sniff out investment opportunities, as they bet the country's booming resources sector will produce big winners, business executives said on Wednesday.
Mongolia, blessed with abundant mineral resources, sits on the doorstep of the world's largest resource consumer, China. But getting the minerals out of the ground to its southern neighbour and elsewhere is a big challenge with no sea port.
Major infrastructure spending is also needed and it could be years before Mongolia can cash in on its untapped wealth.
Still, foreign investors believe that Mongolia's proximity to China -- also called the "stomach without a bottom" -- would turn some the small exploration and mining companies in the country into sizeable producers.
"We see all kinds of investments coming to Ulan Bator on a daily basis. These range from sovereign wealth, to private equity to the high net-worths individuals to the top six of the 250 billionaires in the world," Eric Zurrin, head of boutique investment firm Resource Investment Capital, told Reuters on the sidelines of a conference.
"It's pretty staggering. From my experience in the last 10 years in the city, the amount of capital seeking opportunities in Mongolia is amazing."
Zurrin said most investors were eyeing opportunities in mining firms with quality assets, while mining equipment and services companies also rank high on their lists.
Still, the risks are high.
The application of laws and regulations are unpredictable, official public records to identify ownership and control of locally-registered businesses are hard to find and corruption is widespread.
In November 2010, the government surprised the international community by suddenly suspending 254 gold mining licenses, citing a 2009 law which protects Mongolia's forests and river basins. Although some international companies have appealed and successfully had their licenses reinstated, others have not been so lucky.
With a parliamentary election scheduled in 2012, there is a also political risk, although local observers say the chances of a regime change are slim.
"Investment funds in the U.S., Australia and so on mostly hold the view that even if the government changes, the momentum to develop the resource sector is here to stay," said Jason Bahnsen, chief executive officer of Gobi Coal & Energy, which is planning an IPO on the Toronto exchange later this year.
EMBRYONIC CAPITAL MARKETS
Part of the hunger for private investments stems from Mongolia's small banking sector. Its three commercial banks can only issue a maximum $60 million in loans after syndication.
"The commercial markets are too small to fund the large deals, especially in the mining sector where we are easily talking about tens and hundreds of millions," Jim Dwyer, executive director of the Business Council of Mongolia, told Reuters at the sidelines of a conference.
While the Mongolian Stock Exchange has posted strong returns over the last decade, its low liquidity, restrictions on foreign investors and weak financial reporting standards, means miners often seek capital elsewhere.
But there are signs of change. The exchange has sought the help of Korean, Singaporean and Hong Kong stock exchanges to help with its development and attract more foreign investment, while it has also inked an agreement with the London Stock Exchange to install a new trading platform.
OANA members to meet in Mongolia
June 22 (Tehran Times) TEHRAN – Directors of the Asia-Pacific news agencies will attend the 33rd Executive Board meeting and the 27th Editorial-Technical Experts Group meeting of the Organization of Asia-Pacific News Agencies (OANA) which is scheduled to be held in Ulaanbaatar, the capital city of Mongolia, from June 27 to 29.
Montsame, the Mongolian news agency, will be hosting the event which will be held to mark the 90th anniversary of the inception of the new agency and the 50th anniversary of the establishment of OANA.
A number of Mongolian ministers, high-ranking officials, and intellectuals will also attend the sessions of the three-day event.
The OANA 31st Executive Board meeting and the 25th Editorial-Technical Experts Group meeting were held in Tehran in November 2009 on the theme of "A Quest for Global Media Balancing."
Chiefs of Ferrous Metal Factory under investigation
June 22 (news.mn) The Anti Corruption Authority will conduct further investigation against seven present and former senior officials of Ferrous Metal Factory of Darkhan as the Ulaanbaatar Prosecutors Office feels it needs more evidence to initiate criminal proceedings against them. The charge against them is one of misuse of position to embezzle MNT149.6 million from the factory funds, reports Unuudur newspaper.
There were complaints during the tenure of the former Chief D.Ganbold, that the factory used to buy raw material at prices higher than in the market.
Enkhbat sees MPP as betraying its own promise of reform
June 22 (news.mn) D.Enkhbat, MP and leader of the Civil Will-Green Party, has told our reporter that the MPP seems to be going back on its promise made in 2008 to reform politics. First, some of its MPs headed by D.Lundeejantsan submitted a draft law calling for total proportional representation in Parliament. Then they said this might not be sensible and prepared a fresh draft law that combined both systems. Then the party said technical issues have to be decided before political ones. Now they say 50 MPs should be elected directly, which means very little is to be reformed. He felt this was cheating the people and the MPP, in forgetting its promise, was also acting irresponsibly.
Enkhbat said the Civil Will-Green Party supports the DP proposal that the new system should elect 50 MPs in proportion to the total votes received by parties while 26 would be chosen in the first-past-the-post way now followed. The MPP might betray the interests of Mongolia but he hopes the DP will not allow itself to accept the MPP plan and retain the present system after three years of promising a change.
He felt some amendments to the Constitution could help improve governance. These include adoption of the proportional representation system, more gender equality, and offering voting rights to Mongolians abroad. All three will lead to a healthier democracy.
Standing Committee against amending law on HDF
June 22 (news.mn) The Standing Committee on the Budget today voted against amendments to the law on the Human Development Fund that would permit the monthly HDF allowance of MNT21,000 to be directly used to repay bank debts of herders, elders and SME businessmen.
However, since the majority fell short of two/thirds, the draft will now be discussed in Parliament.
Highlights on "Two Centers" for the 7th China-Russia-Mongolia Economic and Trade Negotiations and Product Fair
HAILAR, Inner Mongolia, China, June 22, 2011 /PRNewswire-Asia/ -- China-Russia-Mongolia Economic and Trade Negotiations and Product Fair (hereinafter referred to as "Fair") is developing smoothly with the cooperation of the adjacent local governments and all walks of life in the above mentioned three. On the determination of the strategy of "Establishing Two Centers" of Hailar, elites from home and abroad are flocking here for the Fair. Government representatives, business elites, social celebrities and common people from China, Russia andMongolia shall give different performances on the platform of the Fair. Thus, the Fair has become the "local international famous fair".
Gazelles rush Mongolia border to escape wildfire
June 22 (Xinhua) HOHHOT - Thousands of wild Mongolian gazelles broke through the China-Mongolia border on Monday while escaping a prairie fire on the Mongolian side, China's border control authorities said Tuesday.
About 2,000 gazelles, mostly pregnant females, broke through the border as they escaped a spreading wildfire in Mongolia, the authorities said.
The prairie fire initially occurred in eastern Mongolia, which borders East Ujimqin Banner (County) in north China's Inner Mongolia Autonomous Region. The fire then spread across the Sino-Mongolian border.
Bai Yinshan, deputy head of a local police station under the Xilingol League's border detachment, said the gazelles dashed through barbed wire barricades, incurring minor injuries on the way.
According to local police tasked with fighting the wildfire, clusters of gazelles were seen wandering along the border. Several male gazelles charged the fences first, making holes for their pregnant companions.
About 30 gazelles became stuck in the fence and were consumed by the spreading wildfire.
A large number of Mongolian gazelles graze near the Sino-Mongolian border. They enter China in mid- to late July every year, foraging for food.
According to local police, more gazelles are expected to run for the border, as the wildfire has destroyed the meadows that they normally use for food.
The wildfire was extinguished after rain fell near the border on Tuesday.
Mongolia's Beauty
June 22 (Huffington Post) Mongolia is a land-locked country with the 19th largest geographic size of any country yet a total population of around 2.8 million people or slightly lower than the population of Brooklyn. As a result, it is one of the least densely populated countries in the world. The capital city, Ulaanbaatar (also spelled Ulan Bator) contains nearly half the population of the entire country.
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<Mogi & Friends Fund A/C>
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.
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Mogi
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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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