Wednesday, August 24, 2011

[CPSI NewsAlerts: GUF to List Mongolian Subsidiary on ASX; TVN Extends Coal Seam Over 2.4km]

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GUFv down 0.5c to 99c in early trading

Guildford Coal Mulls ASX Listing Of Mongolia Coal Unit

August 24, SYDNEY -(Dow Jones)- Guildford Coal Ltd. (GUF.AU) said Wednesday it is looking at listing its Mongolian coal assets separately on the Australian Securities Exchange, the latest in a string of miners vying to take advantage of rising investor interest in the landlocked North Asian country's resources.

The company said it has retained UBS AG (UBS) to advise on a possible listing of Terra Energy, which is expected to produce its first coal from the South Gobi project in Mongolia in the first half of next year. It didn't say how much it intends to raise via the proposed initial public offering, or IPO, of Terra Energy, which it controls with a 70% stake.

Guildford, which also owns coal assets in Australia's Queensland state, said a mine with an annual production capacity 2 million-3 million metric tons of coal could be built at the South Gobi development site.

Its resource is located around 30 miles east of two operating mines, including one owned by Hong Kong-listed SouthGobi Resources Ltd. (1878.HK), producing a combined 5 million tons of coal annually that is sold to customers in northern China's Gansu and Shanxi provinces and Inner Mongolia region.

In a statement, Guildford said the South Gobi project contains both high-quality coking coal used in steelmaking and thermal coal used in power generation. It expects to firm up resources in the October-December period.

"The Guildford board believes that the potential Terra Energy IPO on the Australian Securities Exchange will provide investors with an excellent opportunity to invest in a portfolio of quality Mongolian projects with near-term production potential," Craig Ransley, Guildford's chairman said.

Interest in Mongolia's resources is rising among western mining companies, which have found themselves increasingly locked out of many of the biggest deposits in China and neighboring Russia by a regulatory environment that favors local firms.

In July, the Mongolian government selected a consortium including U.S. coal company Peabody Energy Corp. (BTU) to develop the Tavan Tolgoi deposit, one of the world's largest untapped reserves of coking coal.

Rio Tinto PLC (RIO) and Ivanhoe Mines Ltd. (IVN) are also investing billions of U.S. dollars in Mongolia to develop the Oyu Tolgoi copper deposit.

Link to article

Link to GUF release


TVN up 0.4c to 4.9c in early trading

TVN Corporation extends coal seam over 2.4km at Nuurst Project in Mongolia

August 24 (Proactive Investors Australia) TVN Corporation (ASX:TVN) has reported a 97.5 metre thick coal sequence from latest drilling at the Nuurst Project in Mongolia.

Hole NDH 05 intersected the 97.5 metre thick coal sequence which includes a cumulative down hole coal seam thickness of 36.6 metres.

Hole NDH 05 was drilled 800 metres further north along strike from the previously reported hole NDH 04. This extends the known coal seam development a further 800 metres north.

Coal seam development is now defined over 2.4 kilometres of strike length.  Assays from NDH 04 show consistent coal quality.

With a significant overall strike length now defined, the focus of exploration efforts will move to the southern end of the known coal seam development to delineate the seam profile across the Licence area.

Hole NDH 06 (currently being drilled) is testing the coal thickness proximal to the coal present in the first trenches.

The Nuurst Project is a 3,451 hectare exploration licence located 120kms south of Ulaanbaatar in an area with a number of operating coal mines.

Nuurst is 6 kilometres from existing rail infrastructure providing low cost access to the key coal export markets of China, South Korea and Japan. TVN has entered into an option agreement to purchase the Nuurst Project.

Link to article

Link to TVN release



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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 or +976-99996779.



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