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Tuesday, July 5, 2011

[cpsinewswire] [CPSI NewsAlert: TT Winning Consortium: Peabody Shenhua 40%, Peabody 24%, Russian/Mongolian Consortium 36% (18%+18%)]

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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Tavan Tolgoi Project to be Presented to Parliament

July 4 (summarized from Government press release) During an irregular cabinet meeting on July 4, members discusses the TT Investment Contract draft. All parties involved agreed on the conditions. Such as the south and east railway and a 300x2 or 600Mw power station. Parties also agreed to build coal to gas and coke plants that were demanded by the government.

Investors also agreed to pay a nonrefundable $500M payment and a $500M prepayment. Erdenes-Tavan Tolgoi is to be paid a 5% royalty from the sales revenue (after transport costs), besides the tax and fees to Mongolia.

The winning consortium is to be structured as China’s Shenhua Group 40%, US’ Peabody 24% and a Russian/Mongolian Consortium of 36 % (18%+18%).

The draft is to be presented to the National Security Council and introduced to Parliament next Wednesday.

Link to government press release (in Mongolian)

 

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"Mogi" Munkhdul Badral

Senior Client Manager / Executive Director

CPS International LLC

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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.

 

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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.

 

 

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