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Tuesday, October 18, 2011

[CPSI NewsWire: Stimulation Needed at Petro Matad's DT-8, Shares Down]

CPSI NewsWire brings you market updates on Mongolia, compiled by CPS International, a Mongolian marketing arm of CPS Securities, a Perth, WA based stockbroking and corporate advisory firm, specialising in capital raising for mining and junior stocks.

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MATD closed -10.32% to 28.25p

Petro Matad looks to stimulation

October 17 (StockMarketWire.com) - Mongolian oil explorer Petro Matad (LON:MATD) is considering a fracture stimulation programme to boost oil output from its Davsan Tolgoi 8 well (DT-8) on Block XX.

The company has completed the analysis of the initial test results for DT-8. The well did not flow under natural pressure and Petro Matad is considering a stimulation programme to enable further assessment of the well and local reservoir.

Testing of DT-8 was conducted from 15-28 September 2011. Two zones in the Uppermost Tsagaantsav Formation were tested, including a primary test objective between 1,711m and 1,720m and a secondary interval from 1,773m to 1,779m. Limited oil and water analyses were received on 14 October 2011.

A small amount of oil and water was recovered from the 1,711m-1,720m primary zone. Pressure build-up data indicates low permeability for the zone with some permeability impairment from exposure to drilling fluids. These results are being compared to initial flow results for other low permeability and fluid-sensitive Tsagaantsav reservoirs in the region.

The presence of oil in this zone and the petrophysical log characteristics support consideration of this zone as a candidate for future stimulation.

No formation fluid was recovered from the deeper secondary test interval between 1,773m and 1,779m. Pressure build-up data indicates that this interval is tight and the interval is not being considered for stimulation.

Petro Matad chief executive officer Doug McGay said 'The DT-8 test is a continuation of Petro Matad's initial assessment of the flow characteristics of Tsagaantsav reservoirs. 

'We are finding that the completion characteristics of both the Uppermost and the Lower Tsagaantsav reservoirs are similar to neighbouring producing areas where fracture stimulation is needed to overcome the permeability challenges associated with fluid-sensitive clay and volcanic-derived cements in these complex reservoirs.'

Link to article

Link to MATD release

 

Mongolia may add banks to Tavan Tolgoi adviser list

LONDON Oct 17 (Reuters) - Mongolia could add "one or two" banks to its list of advisers for the multi-billion dollar initial public offering of Erdenes-Tavan Tolgoi, believed to be the world's biggest coking coal deposit, a senior official said on Monday.

BNP Paribas , Deutsche Bank , Goldman Sachs and Macquarie have already been shortlisted as advisors on the IPO, expected in 2012 and set to raise as much as $15 billion, according to some bankers.

Tsogt Tsenguun, head of the investment and financing department at Erdenes-Tavan Tolgoi, said one or two other names could be added as joint bookrunners or co-lead managers.

"It all depends on the listing structure and the venue," Tsenguun said, on the sidelines of a conference.

The government and state-owned Erdenes-Tavan Tolgoi are deciding on a venue for the listing, with Hong Kong and London among locations being considered.

Tsenguun declined to comment on the status of talks with international mining partners, after the government backtracked in July from an initial proposal to hand development rights in the western block of the project to Chinese group Shenhua , U.S. company Peabody Energy and a Russian-Mongolian consortium.

After receiving complaints over the bidding process, the government has been trying to devise an alternative.

Tsenguun said the talks were confidential.

Mongolia's prime minister, Sukhbaatar Batbold, told Reuters last month he was confident the Tavan Tolgoi IPO would go ahead in 2012, adding he hoped an investment agreement could be sealed in the next session of parliament.

Mongolia's rush to launch Tavan Tolgoi is partly related to promises made by the Mongolian People's Revolutionary Party at the last election to give every citizen as much as 1.5 million tugriks in dividends ($1,200) from the country's mining boom.

Link to article

 

HUN at A$1.76-1.775 in first half Tuesday trading

Banpu’s Hunnu Stake Up to 43.85%

October 18, Hunnu Coal Limited (ASX:HUN) --

Link to release

 

KCC closed +26.67% on Monday

Kincora Copper Announces the Appointment of New President and Chief Executive Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2011) - Kincora Copper Limited (TSX VENTURE:KCC) (the "Company" or "Kincora") is pleased to announce that Igor Kovarsky has joined as President and Chief Executive Officer and member of the Board of Directors, effective 17th October 2011. Igor Kovarsky succeeds Stephen Fabian, who will remain as the Chairman of the Board of Directors and will provide support to Mr. Kovarsky as the programme in Mongolia accelerates.

Igor Kovarsky has over 30 years of experience in the construction and mineral sectors, managing exploration, engineering, development and mining operations in a number of large projects. He worked with Centerra Gold Inc. and its predecessor Cameco Gold since 1992, in which he served in various roles including Director and Vice President, Government Affairs & Business Development for Centerra's subsidiaries in Kyrgyzstan, Mongolia and its head office in Toronto. Simultaneously he acted as President of Centerra Gold Mongolia LLC.

His significant role in bringing the Kumtor Mine in Kyrgyzstan, one of the world's largest gold mines, and Mongolia's Boroo Mine into full production has given him a valuable perspective for working in the region.

He played a key role in the acquisition, feasibility work and successful development of the Kumtor gold mine in Kyrgyzstan and was instrumental in acquiring an ownership interest in the Australian gold exploration company AGR Limited, which directly led to the development of the Boroo mine in Mongolia and growth of the Boroo Gold Company and Centerra Gold Mongolia LLC. Most recently Mr. Kovarsky worked at Kola Mining Corporation as President and CEO, leading the strategy of development of the cornerstone Souker Nickel Project in Russia, as well as being President, CEO, and Founder of Experto Crede Consultancy Corporation, and Executive Vice President of Puget Ventures Inc.

In connection with his appointment the Company has granted Mr. Kovarsky 5,000,000 options having an exercise price of $0.40 per share and a term of 5 years. The options will vest as to 2,000,000 after 12 months, 2,000,000 after 24 months and the balance after 36 months.

Concurrent with the appointment of Igor Kovarsky to the Kincora Board of Directors, Mr. David Cowan has graciously agreed to step down from the board in order to provide the necessary vacancy for Igor. David was also a member of the board of Kincora's predecessor, Brazilian Diamonds Limited, for over 10 years and has provided considerable advice to the Board, especially during the recent RTO transaction with Kincora Group to form Kincora Copper. He will continue to remain as a special advisor to the Kincora Board.

Stephen Fabian, Kincora Copper's Chairman comments, "I am particularly pleased that someone with the calibre and experience of Igor has agreed to join us at Kincora. His vast experience in all stages of mining from exploration through to the development of large mining projects in Mongolia will be invaluable for the Kincora Copper. I also would like to personally thank David Cowan for his contribution to the Company over the years and expect he will continue to provide sound counsel for the years to come."

About Kincora Copper:

Kincora Copper Limited is a mining exploration and development company focused on copper/gold deposits in Mongolia. Its key asset is the Bronze Fox copper-gold deposit located in southeast Mongolia along the Oyu Tolgoi copper belt. The Bronze Fox Project is located approximately 140km to the northeast of the world-class Oyu Tolgoi copper/gold project, and is 250 km from the Chinese border.

Link to release

 

Peabody and Winsway forming JV to market coal in Asia

London, 12 October (Platts) -- Coal producer and trading company Peabody Energy Corp and Hong-Kong-listed Winsway Coking Coal Holdings have expanded their existing business relationship by establishing a joint venture to market coal in China and the Asia Pacific region through a non-legally binding memorandum of understanding, Winsway announced Wednesday.

The formal establishment of the JV will rely on the parties signing definitive binding documentation at a later unspecified date. Winsway said it has invited a Peabody representative to attend its board meetings as an observer. 

The two companies previously formed the Peabody-Winsway Resources JV in July 2010 when Winsway took a 50% interest in a Mongolian mining venture by purchasing the stake from South-African based Polo Resources.

Link to article

Link to Winsway release

 

Prophecy Moving Up to TSX Main Board

TORONTO, Oct. 17, 2011 /CNW/ - Standard & Poor's will make the following changes in the S&P/TSX Venture Indices:

The Toronto Stock Exchange announced today in the Daily Bulletin that the shares of Prophecy Coal Corp. (TSXVN:PCY) will graduate to trade on TSX at the open of trading on Wednesday, October 19, 2011. The ticker symbol will remain "PCY" and the CUSIP number will remain 74346B 10 3. The company will be removed from the S&P/TSX Venture Composite Index after the close of trading on Tuesday, October 18, 2011.

Prophecy is also a constituent of the S&P/TSX Venture Select Index. The company will be removed from this index effective after the close of Monday, October 24, 2011, at which time it will be listed on TSX.

Link to release

 

Solartech: Annual Report 2011

October 11, Solartech International Holdings Limited (HK:1166) --

Link to report

 

Real Gold Mining Says Deloitte Resigns as Auditor Over Omissions

Oct. 14 (Bloomberg) -- Real Gold Mining Ltd. (246:HK), a Hong Kong- listed Chinese gold producer halted from trading since May 27, said Deloitte Touche Tohmatsu quit as auditor because the company failed to disclose “material” information.

Deloitte said its report on Real Gold’s 2010 earnings isn’t reliable because of the omissions, according to a Hong Kong stock exchange filing yesterday. Real Gold said it previously disclosed all matters related to the resignation, is “disappointed” by the accounting firm’s departure and is seeking a replacement auditor.

Real Gold has been suspended in Hong Kong since the city’s South China Morning Post newspaper said the company may have filed two different sets of accounts. Real Gold was searched by the city’s Securities and Futures Commission in August, according to a lawsuit. It has hired an independent forensic specialist to probe company accounts and dealings with controlling stockholder Wu Ruilin.

Regulators and investors have increased scrutiny of Chinese companies traded overseas amid allegations against Longtop Financial Technologies Ltd., Chaoda Modern Agriculture (Holdings) Ltd. and Sino-Forest Corp.

Real Gold said on June 20 it was released from loan pledges made improperly by Wu. The entire issued share capital of Real Gold unit Fubon Industrial Huizhou Co. was pledged as security for loans for non-Real Gold entities controlled personally by Wu.

Connected Purchase

The company also agreed to buy two phosphorus mines in Mongolia from Wu for HK$520 million ($67 million) and loaned him HK$955 million, of which HK$316 million was outstanding on June 30, according to an exchange filing on Aug. 22.

Real Gold said on June 1 the Morning Post’s allegations were “inaccurate and untrue,” and that it was gathering information to respond to queries by the Hong Kong exchange.

The mining company said on Aug. 25 that Independent Director Wan Kam To, who was leading an internal investigation of the allegations, resigned after disagreeing with the board on the approach, strategy and timing of the probe.

Real Gold’s first-half net income increased to 355.2 million yuan ($55.7 million) from 322 million yuan a year earlier.

Link to article

Link to 246 release

Related:

Real Gold (00246) buys Mongolia phosphorus mines at HK$520m

August 23 (ET Net) Real Gold Mining (00246) said it agreed to purchase certain mining and exploration rights from controlling shareholder Wu Ruilin in relation to two phosphorus mines situated in Khovsgol Province, Mongolia at a total of HK$520 million

Up to 30 June 2011, about HK$449.2 million had been paid by Real Gold Mining in this respect. If the value of the acquisition is determined to be less than HK$520 million, then Real Gold Mining has the right to terminate the acquisition and it will be reimbursed the consideration already paid. 

Between February and April 2011, Real Gold Mining entered into three loan agreements with Wu and a total of about HK$955 million was lent by Real Gold Mining to Wu. A loan balance of around HK$316 million was still outstanding from Wu as at 30 June 2011. (HL) 

Link to article

Link to 246 release

 

Mongolia to spend over $1bn on roads, rail

ULAN BATOR, October 15 (AFP) — Mongolia's government has said it will spend more than $1 billion on new road and rail projects in 2012, doubling the country's infrastructure budget from this year on the back of a mining boom.

Prime Minister Sukhbaatar Batbold said Mongolia would devote 1.5 trillion tugrik ($1.17 billion) to building desperately needed infrastructure including new roads to China and a railway connecting the Gobi Desert to Russia.

Mongolia's move to open up its vast natural mineral reserves to foreign investors has made it one of the world's hottest economies, with growth of 17.3 percent in the second quarter according to World Bank data.

In 2009, Mongolia sealed a long-awaited multi-billion-dollar deal with Canada's Ivanhoe Mines and Anglo-Australian miner Rio Tinto to develop Oyu Tolgoi, one of the world's richest copper deposits and a key gold source.

The two companies are spending $7 million a day to construct the mine, which is expected to start operations in late 2012.

"Government revenues during the first half of the year beat expectations by 30 percent, almost 250 billion MNT (tugrik) were collected," Mongolian lawmaker Sanjasurengiin Oyun told AFP.

"It is because of the improved economy and better tax collection. It is coming from diverse sources."

The 2012 budget, details of which were released on Thursday, also includes a 53 percent pay rise for state workers, whose average salary currently lags behind the national average of around 550,000 tugrik.

Mongolia's government has predicted that per capita GDP will more than double by 2014 to nearly $6,000, from the current $2,470.

But the huge influx of new money threatens to overheat the economy.

The World Bank says inflation spiked to 11.4 percent in July, largely as a result of cash handouts to citizens, who receive 21,000 tugrik per month from a government development fund.

Transport and food costs have risen dramatically this year and real estate prices have also leapt as Mongolians and foreign speculators scoop up investment opportunities.

Link to article

 

Germany Playing Catch-Up in Scramble for Resources

Chancellor Angela Merkel has signed a commodities deal with Mongolia during her visit to the Central Asian country. The agreement is intended to secure access to much-needed raw materials for German industry. But commentators point out that it will take more than just a piece of paper to win the scramble for rare earths.

October 14 (Spiegel Online) At first glance, German Chancellor Angela Merkel's decision to visit Mongolia precisely at a time when Europe's debt crisis is hotter than ever might seem peculiar. But cool-headed economic interests were behind the trip: The Central Asian country has raw materials that Germany's industry desperately needs.

On Thursday, the governments of the two countries signed a commodity partnership agreement. The deal promises, among other things, that no limits will be imposed on the quantity of raw materials that Mongolia supplies to Germany. Mongolia, for its part, wants to benefit from the deal by making sure that the raw materials are processed in the country.

"We have the raw materials, Germany has the latest technology and the know-how," said Mongolian Prime Minister Sukhbaatar Batbold, who described Merkel's visit as historic. Merkel promised that Germany intended to pursue "long-term, equitable and sustainable development."

Mongolia is one of the Top 10 countries in the world in terms of quantities of natural resources and is home to huge deposits of copper, gold, silver and uranium. The country also has large reserves of rare earths, expensive metals which are in demand in high-tech industries, where they are essential for manufacturing various products. German companies have expressed concern about access to rare earths, especially as China, which dominates the market, has imposed restrictions on their export.

"Germany needs to forge strategic alliances in the area of raw materials, which could become scarce in the coming decades," said Ekkehard Schulz, a member of the supervisory board of engineering giant ThyssenKrupp, in remarks given to the news agency Reuters.

International mining companies are currently in a race to get access to Mongolia's rich mineral resources. A number of German mining and engineering companies also signed billion-dollar deals during the visit, the first by a German chancellor to Mongolia.

On Friday, German media commentators take a look at the raw materials deal.

The center-left Süddeutsche Zeitung writes:

"(Merkel's trip to Mongolia) comes at a time when her schedule is packed because of the debt crisis. But her visit could not be postponed. After all, it was all about access to the raw materials which Germany does not have but which it desperately needs for its economy. Many of the resources which are rare in this country can be found in large quantities under the grassy steppes of Mongolia."

"The chancellor was quick to register a success in the form of a commodity agreement. Mongolia will in the future supply Germany with metals such as copper and the highly coveted rare earths. That sounds good, but is it? Probably not. Such a document does not really mean very much by itself. Other countries like the United States are also trying to get access to Mongolia's coveted reserves through political means. It remains to be seen who will get the biggest piece of the pie in the end."

The center-right Frankfurter Allgemeine Zeitung writes:

"The first German commodity agreement with Mongolia is a step in the right direction in order to secure long-term access to such resources. The global competition for raw materials is getting tougher and tougher. It's not just that the prices of raw materials such as rare earths are increasing. Many German companies are now worried -- and rightly so -- that in the future they may not be able to obtain sufficient quantities of certain materials, especially given that leading producers such as China are even restricting exports."

"The German government and industry have been pushing for commodity partnerships for some time now, to ensure that Germany's industrial competitiveness doesn't suffer even more than it already does as a result of already intense international competition for raw materials. But compared to other countries' efforts, the initiatives are coming very late. For too long, German industry and the German government have paid too little attention to the issue of access to raw materials."

The conservative Die Welt writes:

"Despite all the drama in Europe, there are other regions and key issues that are of crucial importance for the German economy. This includes finding and securing raw materials."

"Demand is rising rapidly around the world. The scramble for rare earths already began a long time ago. China in particular, which possesses large deposits of rare earths, recognized early on the importance of raw materials. China dominates the market and can grant a competitive advantage to its own companies. Europe must be careful that, given its current preoccupation with its own problems, it doesn't get left behind."

"Rare earths have never been a priority of German economic policy. German industry has tried to help itself by forging partnerships with companies in Australia. Yet without agreements at the governmental level, their efforts remain piecemeal. With almost no natural resources of its own, Germany is dependent on partnerships with other countries in order to guarantee long-term access to scarce resources. In this respect, the commodity agreement with Mongolia is an important step. Merkel's visit can be viewed as a success."

Link to article

 

Mongolia abandons nuclear waste storage plans, informs Japan of decision

PARIS, October 15 (Mainichi Daily) -- The Mongolian government told Japan government officials and others concerned in late September that it had decided to abandon its plans to cooperate with Tokyo and Washington and build facilities to temporarily store and dispose of nuclear waste, it was learned on Oct. 14.

Mongolia appears to have judged the plan unfeasible because of opposition movements in the country.

It is the latest turn of events that underscores the difficulties in carrying out international projects to build nuclear waste storage facilities. A similar project was also abandoned in Australia in 2002 due to strong public backlash.

Negotiations on the Mongolian nuclear projects started when U.S. Deputy Secretary of Energy Daniel B. Poneman visited Mongolia in September, 2010. Officials of Japan, the United States and Mongolia held their first round of talks on the projects in Washington in February this year. Then, the United Arab Emirates (UAE), which wants to procure nuclear fuel from Mongolia, joined in the negotiations. In early July, Poneman sent a draft of an intergovernmental memorandum of understanding (MOU) to then-Economy, Trade and Industry Minister Banri Kaieda in an effort to secure a deal by the end of this year.

The Mainichi reported on the secret talks between the three countries in May, but the Mongolian government has officially denied the existence of such negotiations. After the Mainichi's report, Mongolian citizens harshly reacted to the envisioned projects and demanded the government withdraw the plans and disclose information.

Following such developments, Mongolian President Tsakhia Elbegdorj issued a presidential order on Sept. 13 banning negotiating with foreign governments or international organizations such as the International Atomic Energy Agency (IAEA) on nuclear waste storage plans in Mongolia. Elbegdorj sacked government officials, including Ambassador A. Undraa, who had attended trilateral talks with the United States and Japan in Washington from Feb. 3 to 4 as representatives of Mongolia.

In the meantime, the Japanese government had told the U.S. Department of Energy that it was difficult to continue with the negotiations because it was busy dealing with the crisis at the crippled Fukushima No. 1 Nuclear Power Plant as well as public backlash.

According to a survey conducted by the IAEA, Mongolia has abundant resources of uranium estimated at 1.4 million metric tons. The Mongolian government was considering processing uranium into nuclear fuel and exporting it in an attempt to make good use of the uranium resources. For this purpose, Mongolia was exploring the idea of introducing "nuclear fuel lease contracts" in which Mongolia would receive spent nuclear fuel from countries that buy uranium nuclear fuel from Mongolia.

The U.S. Department of Energy took the idea and came up with a proposal that Mongolia collect, store and dispose of spent nuclear fuel from other countries. Since then, the United States and Japan had been negotiating with Mongolia on the project.

Click here for the original Japanese story

Link to article

 

STOCK EXCHANGE WEEKLY REVIEW

Octoer 17. Ulaanbaatar, Mongolia /MONTSAME/ Five stock trades were held at Mongolia's Stock Exchange from October 10 to October 14. In overall, 784.6 thousand shares were sold of 46 joint-stock companies totaling MNT 2.6 billion. Index TOP-20 was 20196,30 points decreasing 387.84 units or 1.9% against the week earlier. The total market capitalization was set at MNT two trillion 84.7 billion increasing MNT 33.6 billion or 1.6%.

Shares of "Berkh uul" /79.5%/, "Guril tejeel bulgan" /17.6%/, and "Darkhan khovon" /14.9%/ increased, but shares of "Mongol savkhi" /12.2%/, "Sharyn gol" /10.8%/, and "Mogoin gol" /7.4%/ decreased.

15 stocks closed higher, 14 shares declined and 17 shares remained unchanged. Shares of "Remikon" /385.8 thousand units/, "Sharyn gol" /206.1 thousand units/ and "Silikat" /48.5 thousand units/ were the most actively traded in terms of trading volume.

Link to article

 

MPs debate draft law on energy

October 14 (news.mn) At Thursday’s session of Parliament, MPs debated a draft law on energy. 

The draft law covers issues including safety reserves, measures to stabilize energy prices, and a proposal to change the board that sets electric rates.  

MPs noted that electric rates vary in the aimags because some western aimags import their electricity from Russia.

It was noted that the state energy sector had a deficit of MNT 2.6 billion at the end of June, because some aimags take an electric rate subsidy from the state budget. The deficit is expected to rise to MNT 4 billion by the end of December. 

Mineral Resources and Energy Minister D.Zorigt noted that the Government has issued a policy about electric rates. He encouraged local settlements to delay heating as along as possible to conserve money and energy. He also said the construction of central heating systems in settlements should be expedited.

Link to article

 

Power Plant V bidders to be shortlisted by November 28

October 14 (business-mongolia.com) During the State Great Khural session, October 14 2011, MP D.Zorigt, Minister for Mineral Resources and Energy, made statement that Power Plant V tender bidders will be shortlisted by November 28 2011 and its winner will sign contract on March 2012.

It was answered to the question raised by MP Oyunkhorol, regarding the current electricity supply management in Mongolia.

Link to article

 

Gold smuggling reportedly rising

October 17 (news.mn) At last Friday’s session of Parliament, Mineral Resources and Energy Minister D.Zorigt replied to a query from MPs Ts.Sedvanchig and D.Enkhbat to Prime Minister S.Batbold concerning gold mining. 

According to the minister’s report, 1,200 gold mining licenses have been issued, 466 of which are currently in use. But the sale of gold to Mongol Bank is rapidly declining. For example, 15 tons of gold were sold to the bank in 2005 but just 2.3 tons were sold to the bank in 2010. 

The deputy head of the Central Intelligence Service (CIS) said many issues need to be addressed with legislation. The CIS reported that 309 kg (about 680 ponds) of gold was illegally smuggled out of the country between 2006 and 2010, and CIS officials reported that the problem is growing. 

Some MPs also raised concerns about the environmental impact of gold mining, saying small mining operations are causing great ecological damage.

Link to article

 

Currency forum says “motherland allowance” increases poverty

Octoer 14 (news.mn) Mongolia’s “motherland allowance,” which grants each Mongolian citizen MNT 21,000 every month, was heavily criticized at an open forum on currency policy held at the University of Mongolia on Thursday. Participants concluded that the allowance is having a negative effect on Mongolia’s economy and standard of living.

For example, it was noted that in 2006, before the allowance was started, poverty in Mongolia was 32 percent, while in 2011 it was 39.2 percent. Participants also said the allowance may be increasing inflation. 

Regarding inflation, the forum heard a National Statistics Committee report that says meat prices have increased since last July and will further increase by the end of the year. The director of Mongol Bank’s monetary policy research board, D.Boldbaatar, said economists are warning that inflation could hit 13 to 15 percent next year

The National Statistics Committee also reported that GDP increased by 12.2 percent at the end of September, mainly due to an influx of foreign money into the economy. But it was also noted that the fast-growing economy could lead to higher prices for consumer goods.

Mongol Bank’s monetary policy research board specialist B.Davaadalai said Mongolia must be careful to ensure that its economy is not too dependent on mining. If it is, he said, the economy will be susceptible to price fluctuations on global commodities markets. He added that capital from the mining sector is being spent for welfare allowances, but not for development. 

An open forum on budget policy will be held on Friday, and one on economic growth and policy will be held next Monday. 

Link to article

 

CW-GP sends note to President

October 18 (news.mn) In light of the failure of the State Supreme Court (SSC) to register the Civil Will and Green Party, the party’s managing officials sent the following note to President Ts.Elbegdorj on Monday:

It has been reported that the SSC has registered Green Party rule changes which were illegally implemented. This case confirms that the SSC has become a political organization that is interfering in the internal affairs of political parties. The SSC is wrong to legalize the irregular activity of a faction of any party. This case demonstrates the risks facing any political party in Mongolia.

Assemblies of the Green Party and the Civil Will Party decided to ally the two parties on March 26, 2011, and members agreed to form an alliance. The alliance was declared by hundreds of members of the two parties in the Government House, but the SSC views the alliance as illegal. 

The SSC has demanded more paperwork from the CW-GP and has requested additional documents three times. It has also discussed registration of the CW-GP on two occasions and has deferred a decision for six months. But now the SSC has registered the illegal results of the Green Party’s meeting. 

The issue is sent to the President, who appoints the Judge General of the SSC and other judges, because the CW-GP hopes the President will fulfill his promise to be fair and will begin court reforms based on this unfair case. 

Otherwise, Mongolians will conclude that the Government has declared itself to be solely two parties, and citizens have no opportunity to unite and establish a new political force. Due to the politicized decision of the SSC, the principles of honoring, pursuing, and enforcing legislation have been destroyed, and the feasibility of violating the laws and misusing authority has been opened in the country. 

The CW-GP will fight illegal cases of denying democracy in Mongolia and implementing political and economic secret interests, and for independent courts in accordance with law.  

D.Enkhbat, head of the CW-GP,

S.Oyun, deputy head of the CW-GP

Link to article

 

Mongolian President at the Vatican

October 17 (Vatican Radio) Monday morning, Pope Benedict XVI received the President of the Republic of Mongolia, Tsakhiagiin Elbegdorj, in audience. The President later went on to met with Secretary of State Cardinal Tarcisio Bertone, Secretary of State, and Archbishop Dominique Mamberti, Secretary for Relations with States.

The landlocked Central Asian nation is home to just over 2.7 million people. Bordering Russia to the north and the People's Republic of China to the south, east and west, its’ capital and largest city Ulan Bator is home to about 45% of the population. In 1992 a peaceful democratic revolution, following the introduction of perestroika and glasnost in the USSR led the introduction of a multi-party system and market economy. 

According to a 2010 National Census 53% of Mongolians were Buddhists, 39% Atheists. There are around 760 Roman Catholics in the country. As of 2006, there is an Apostolic Prefecture, a bishop, three churches in the capital and diplomatic full relations between the Vatican and Mongolia since 1992.

A press release issued Monday following the encounter states that during the Holy Father’s meeting with the President : “the good relations existing between Mongolia and the Holy See were recalled, as well as the understanding and cooperation between Church and State in the educational and social sectors”. 

“Furthermore” – concluded the statement – “the political situation in Asia was examined, with particular attention to the importance of intercultural and interreligious dialogue for the promotion of peace and justice”.

Link to article

 

The rise of ‘Mine-golia

OCT 14 (The Kathmandu Post) -- The pit lamp gives off a resplendent glow. Only his eyes are visible, the rest of his face protected by a piece of black cloth. And in this light, the Mongolian miner really does resemble a Japanese ninja, the warriors him and his fellow miners have been nicknamed after. One also understands comparisons made with characters from those well-loved comic books, the Teenage Mutant Ninja Turtles; gold washers in Bornuur started out carrying green bowls on their back, their silhouettes replicating those of the cartoon heroes. 

Gold, copper, coal, rare minerals—the country set between China and Russia has plenty of resources. The mining industry has had tremendous effects on Mongolia's traditional nomadic lifestyle, and it does not seem possible at this time in history to understand Mongolia without falling into the mining industry's cavities, which lead deep down into a resource wonderland. 

However, despite a skyrocketing economic growth predicted over the next decade, the overall population has yet to benefit from the economic boom—except those who have given up their nomadic living to dig for gold or coal by themselves. In fact, the country would be better represented as 'Mine-golia', far from that once proud nomadic empire founded by Ghengis Khan.

Visiting the 'ninjas'

Deep in the Selenge hills, about 80 km up north from Ulan Bator, Danbiisurenjav has seen 46 winters. This makes him too old to work for the big mining companies. But without a proper education, even a younger version of himself could not stand a chance with the Boroo Gold commercial mine, a giant mine operator which has full rights to the very ground the ninja miner is standing on.

In Mongolia, NGOs have sprouted up everywhere, like those white ger houses of the nomads. Danbiisurenjav is the manager of the NGO Bopt Yoho, which has 103 members who participate in legally-questionable small-scale mining. "We're Mongolians," he says in defense of their work. "We have a right to mine here."

Co-worker Khurelbaatar wears a T-shirt printed with the words 'Traveling Places'. Asked where he has actually traveled to and he answers, "China, for construction work." Digging for gold lifts 40-year-old Khurelbaatar's monthly income high above the 90 Euro Mongolian average, and allows him to support his wife and baby who live in Tunkhel, 22 km away. Last month, allegedly a bad one, one ninja alone earned about 300 Euro. The usual rate is about 50,000-55,000 Tugrik for 1 gram of gold. Converted, that is a tiny bit more than 30 Euros. A team of five people working together on a five-hectare area can sell close to 50 grams of gold, which in the face of a stable 30 percent poverty rate since the opening of the borders in 1990, is certainly a good deal.

A new approach

The streets of Tunkhel, specifically the front of the city hall, reminds one of the settings of Big Lebowski—minus the mandatory brushing past of tumbleweed. Other than that, what could well be the Wild West of Mongolia lies before the mayor's office.

Tunkhel is a former timber-turned-gold-rush-town in Mandal Soum in the Selenge province, which has grown from just 200 to 3,800 inhabitants over a short few years. And it has been greatly affected by the small-scale mining operations. So much so that mayor Sajnyatav Radnaabazar decided to go knee-deep into cooperation with the ninja miners who have families living here.

With the support of World Vision and the Swiss Agency for Development and Cooperation, Radnaabazar has come up with a plan to strike a deal between the ninjas and the management of the Canadian-run Boroo Gold. The approach is simple: If you want to control them, legalise their actions, and consequently, cut down the illegal trading of gold. 

In the mayor's office, pale, pink curtains throw a soft light on the hanging horse head fiddle next to a map of the Selenge province. Across the room there is a kitschy painting of a horseman next to a baby-blue river. Sitting on gaudy orange plastic seats normally reserved for football stadiums, the mayor explains his current situation. 

"An official contract between the city, the ninjas and license holders has not yet been issued," the 55-year-old says. "But everything is underway to improve the situation for all involved parties."

The umbrella company Centerra Gold, at present, employs only 400 people to work a 360-hectare area at the Boroo Gold mine, and yearly, Centerra Gold pays 180,000 Euros to the Mandal Soum district. As a globally operating company, the Canadian management has a vested interest in polishing their image and to befriend that 15 percent of the Mongolian populace—near about 400,000 including family members—that depends on small-scale mining as an income source. The ninjas, too, want to operate by daylight with a proper license, instead of having to sneak off into the mountains in the middle of the night, risking their safety. 

"Artisanal mining"—Dashdorj Zorigt, Minister for Mineral Resources and Energy carefully pronounces the official term for the ninjas during an interview at the Ulan Bator state palace—"is not illegal anymore if it is done under certain conditions." He recalls that the current decree was adopted last year, which allowed miners to work in certain areas selected by local authorities.

Zorigt assures that land will be issued if miners do everything by the book. This would effectivly include forming cooperatives, obeying environmental, labour and child protection laws, avoiding the use of mercury, paying taxes and social security contributions—and selling the extracted gold to the Mongolian State Bank or a similar, licensed trader. "We hope this way illegal artisanal mining will be completely prohibited," he says.

The effects

'E pluribus unum' (Out of many, one) was once the motto most appropriate for the Mongolian people. History shows that the land's charisma is unique, with nomadic lifestyle at its core. Wide acres, soft hills and abiding horses that always return to their owners, the nomadic lifestyle is in equal parts harsh and pure. 

Mongolian culture and landscape, however, will change within the next decade. The volatile dynamic between the ninjas and industrial giants like Boroo Gold alone will affect the overall mining economy, and a look into the crystal ball shows that the mining industry is already knocking at the threshold of Mongolia's traditional seclusion. It would seem only a matter of time until the "last wilderness nation" is devoured by its alter ego, 'Mine-golia'.

As an old nomad woman, the 75-year-old Toghtogh, said over a cup of butter tea in the Terelj National Park: Ever since the country shooed communism beyond Chinese and Russian borders "the wildness has become far less". She could not have described the dramatic economical and societal changes of the past 20 years in a more succinct, poetic manner.

But they will manage, somehow. Mongolia is too big a country with too strong a national heritage and too much Ghengis-Khanesque pride to simply become one big cavity. At least we can hope as much.

Beatrice Jeschek is an Erasmus Mundus freelance journalist, specialising in War and Conflict.

Link to article

 

Chi-X to start Australian operations on Oct 31

Oct 17 (Reuters) - Nomura owned Chi-X said on Monday it will start operations on Oct 31 as expected in Australia ending the two-decade monopoly of local bourse operator ASX Group .

The Australian Securities and Investment Commission said in a statement that Chi-X had met its licence pre-conditions and could launch by the end of the month.

Chi-X said it intended to begin with a soft launch offering 8 securities for trade.

The regulator will monitor the soft launch and allow Chi-X to offer trading on all S&P/ASX 200 components and ASX-listed exchange traded funds on successful completion of the soft launch.

"Chi-X Australia has received applications from a substantial number of brokers seeking to become trading participants, including the 22 that intend to trade at market launch," Peter Fowler, chief operating officer of Chi-X Australia said.

Last week Chi-X announced its fee structure, which was 40 percent lower than that of the ASX. It has relied on competitive fees to claim market share from incumbents in Europe, Canada and Japan.

Link to article

 

Former U.S. Defense Secretary Rumsfeld visits Mongolia

ULAN BATOR, Oct. 15 (Xinhua) -- Mongolian Prime Minister Sukhbaatar Batbold met here Saturday with visiting former U.S. Defense Secretary Donald Rumsfeld.

According to the governmental press service, the two discussed cooperation between their countries in international peacekeeping operations.

The service said that Rumsfeld thanked Ulan Bator for its contributions to peacekeeping efforts in Iraq and Afghanistan.

No more details were released about the ongoing trip of Rumsfeld, who visited Mongolia in 2005 as defense secretary.

Link to article

Link to cabinet press release (in Mongolian)

 

Mongolia's capital tries to shed its smog

Ulan Bator, October 17 (Reuters) - Inside a stove showroom deep in the suburbs of this sprawling smoke-filled city, Mam Ivermint, 80, is shopping for a new coal-fired stove -- her unlikely contribution to the cause of cleaner air.

The cast-iron stove she selects is low tech, but very different from the traditional Mongolian heaters responsible for spewing much of the grit that fills Ulan Bator's skies, making it the world's second-most polluted city. It includes features that cut smoke emissions by 80 percent.

"I am happy to replace my old stove," said Ivermint, a retired accountant. "This new stove burns much cleaner and is more fuel efficient. It will make our city a cleaner place to live."

The plan to swap old stoves for cleaner models is part of a new effort by the government and donor organizations to reduce air pollution in one of the world's smoggiest cities. The World Health Organization places Ahvaz in southern Iran in the top, most-polluted spot.

Many residents live in gers, drafty felt tents that Mongolian nomads have used for centuries. Tens of thousands of nomads have moved to Ulan Bator in recent years in search of work, bringing coal-fired cast iron stoves to keep warm in temperatures that fall to minus 30 Celsius (minus 22 Fahrenheit) in winter.

The resulting soot that envelopes the city -- particularly during the winter -- has created a health crises, say experts. A recent report by Simon Fraser University in Vancouver stays that one in 10 deaths in Ulan Bator is associated with air pollution.

Conditions in the capital contrast sharply with the rest of Mongolia, a vast and mostly empty country with plains, mountains and blue skies.

Ulan Bator's air also underscores the increasing contribution of developing world to global warming. Developing nations now emit more than half of mankind's greenhouse gas pollution, fueled by soaring demand for coal, oil and gas to power their booming economies.

"The pollution problem becomes apparent to anyone who lands at the airport in winter. you can see it on approach, it's a very dark brown smog over the city," said Courtney Engelke, a representative of the Millennium Challenge Corporation (MCC), a US-funded donor organization working to clean up Ulan Bator's blackened skies.

"I have been to ger districts in the height of winter," she added. "I found it close to unbearable. I felt a shortness of breath. Almost a choking sensation."

INSTALLING STOVES AND PLANTING TREES

When Mam Ivermint installs the new heater, her old family stove will not merely be tossed aside. It will be destroyed to prevent others from using it.

The plan to swap old stoves for cleaner models is a part of a joint project by the government and the MCC to sell the stoves at subsidized rates.

The original price of the stoves is 325,000 tugrik ($260), but after a subsidies from the MCC and the government, the cost to the buyer falls to 25,000 tugrik ($20).

That compares with US$25 to $40 for a traditional stove.

Using a unique air flow pattern, the stove allows coal to burn longer than a traditional stove, requiring one third the amount of coal. Most of the coal's particulates are burned up inside the stove, eliminating four-fifths of the exhaust that exits through the stove pipe.

The stoves have been wildly successful so far, with more than 15,000 units sold in less than three months. The MCC hopes to sell an additional 80,000 during the final two years of the project.

Besides the low smoke stoves, other options developed by the MCC include heat efficient felt coverings that wrap around the ger and a vestibule fitted around the door. The program also includes tree planting in ger districts, which for the most part are sprawling patches of waste ground.

The MCC is putting US $50 million into the project with additional commitments made by the government.

The WHO survey on air quality looked at the density of airborne particles less than 10 micrometers, also called PM10 concentrations. The annual average PM10 concentration in Ahvaz was 372 micrograms per cubic meter while Ulan Bator was runner up with 279. Washington DC had just 18.

Ulan Bator's pollution is seasonal, with relatively low amounts in summer, but critical levels in the depths of winter when the PM10s can reach 2000 micrograms per cubic meter in the worst affected areas.

The 10 most polluted cities on the planet are all in emerging market or developing countries: Iran, Pakistan, India, Botswana and Mongolia. Chronic polluter China no longer has any cities in the top 10.

Most of the PM10s are produced in sprawling slum-like "ger districts," where in winter most of the 150,000 families living in these areas burn two or three small bags of raw coal a day.

Burning raw coal emits mercury, nitrous oxide, sulfur dioxide, and fine particulate matter (PM), as well as carbon dioxide, a greenhouse gas that contributes to global warming.

"The poorest of poor burn other things, like garbage and tires, which creates a toxic brew of its own," said Engelke.

The city's three Soviet-era coal-fired power stations -- Mongolia was once a satellite state of the Soviet Union -- and its 180,000 cars are other contributing factors.

"DEADLY" AIR

Ulan Bator's population, 1.2 million, has doubled over the past decade. Yet, despite the crowded conditions in the capital, Mongolia is the world's least densely populated country, three times the size of France but with a total population of just three million.

Atmospheric scientist Christa Hasenkopf, says breathing the city air over the course of 12 months would be equivalent to living in a home with somebody who smoked 60 cigarettes a day.

"It's a rough calculation, but by any measure the air quality in winter is deadly," says Hasenkopf. "The particulates are a main source of respiratory disease because they are so small and can reach deep into the respiratory system."

For the government, the long-term solution is to convert the ger areas to more permanent housing, with apartments that can be connected to the central heating grid. But years, perhaps decades, are needed to build the infrastructure required to house a half million people.

The government has also proposed banning the use of raw coal in districts close to the city center, but enforcement of such a ban could be difficult in hard to reach, overcrowded areas.

The retired accountant Ivermint, a new crusader in the fight against air pollution, hopes the success of the clean stove project will help end to Ulan Bator's Dickensian winters.

"I am going to advise my neighbors to buy one as well. Nothing will change if only a few buy it," she said. "When I first came to Ulan Bator 18 years ago, the city skies were clear, maybe if everyone uses this new stove it can be like that again."

Link to article

 

Table: Mongolia Related Stocks (Source: Bloomberg)

 

Name

Symbol

$

Price

Change

+-%

Open

High

Low

Volume

Time

% YTD

% 12 m

Indices

ASX 200

AS51:IND

4,275.40

69.7998

1.66%

4,221.70

4,287.70

4,205.60

-

17-Oct

 

 

Nikkei 225

NKY:IND

8,879.60

131.64

1.50%

8,881.44

8,911.70

8,856.58

-

17-Oct

 

 

Hang Seng

HSI:IND

18,873.99

372.201

2.01%

18,808.66

18,908.17

18,675.81

-

17-Oct

 

 

FTSE 100

UKX:IND

5,436.70

-29.6597

-0.54%

5,466.36

5,543.72

5,405.20

-

17-Oct

 

 

TSX Composite

SPTSX:IND

11,923.04

-158.69

-1.31%

12,067.69

12,084.05

11,891.36

-

17-Oct

 

 

S&P 500

SPX:IND

1,200.86

-23.72

-1.94%

1,224.47

1,224.47

1,198.55

-

17-Oct

 

 

ASX

Aspire Mining

AKM:AU

A$

0.44

-0.005

-1.12%

0.45

0.45

0.44

799,801

17-Oct

-8.33%

137.84%

Blina Minerals

BDI:AU

A$

0.014

-0.001

-6.67%

0.015

0.016

0.014

6,503,978

17-Oct

-6.67%

-12.50%

C@

CEO:AU

A$

0.077

0.002

2.67%

0.078

0.08

0.075

3,409,810

17-Oct

175.00%

352.94%

General Mining

GMM:AU

A$

0.155

0.015

10.71%

0.14

0.155

0.14

113,467

17-Oct

29.17%

-8.82%

Guildford Coal

GUF:AU

A$

1.08

0

0.00%

1.08

1.085

1.055

335,489

17-Oct

47.95%

103.77%

Haranga Resources

HAR:AU

A$

0.2

0

0.00%

0.2

0.205

0.2

262,692

17-Oct

-68.75%

 

Hunnu Coal

HUN:AU

A$

1.77

-0.005

-0.28%

1.775

1.775

1.77

2,835,053

17-Oct

32.58%

82.47%

Mongolian Res Corp

MUB:AU

A$

0.26

0

0.00%

0.25

0.26

0.25

0

30-Sep

 

Robe Australia

ROB:AU

A$

0.015

-0.002

-11.76%

0.016

0.016

0.013

2,385,700

17-Oct

60.43%

TVN Corp.

TVN:AU

A$

0.052

0

0.00%

0.052

0.053

0.05

1,896,536

17-Oct

420.00%

Voyager Resources

VOR:AU

A$

0.099

0.004

4.21%

0.097

0.105

0.096

21,092,680

17-Oct

84.62%

169.44%

Xanadu Mines

XAM:AU

A$

0.44

0.035

8.64%

0.42

0.44

0.42

108,084

17-Oct

-22.12%

HKEx

Solartech Int’l

1166:HK

HKD

0.202

0.019

10.38%

0.189

0.204

0.189

4,900,000

17-Oct

-78.96%

-81.64%

Winsway

1733:HK

HKD

2.24

0.12

5.66%

2.2

2.27

2.19

9,003,000

17-Oct

-50.16%

-36.75%

SouthGobi Resources

1878:HK

HKD

59.75

0.75

1.27%

60

61.15

58.75

52,850

17-Oct

-39.95%

-20.76%

China Gold

2099:HK

HKD

26

1.6

6.56%

25

26.05

25

167,500

17-Oct

-38.10%

CNNC Int’l

2302:HK

HKD

2.04

0.04

2.00%

2.01

2.06

2

1,408,000

17-Oct

-76.55%

-73.37%

Real Gold Mining

246:HK

HKD

8.86

0

0.00%

8.86

8.86

8.86

0

17-Oct

-34.28%

-37.68%

Mongolia Energy

276:HK

HKD

0.67

0.02

3.08%

0.67

0.7

0.65

25,851,000

17-Oct

-71.12%

-80.00%

Zijin Mining

2899:HK

HKD

3.14

0.14

4.67%

3.15

3.19

3.04

36,454,930

17-Oct

-33.43%

-38.70%

Mongolia Inv Group

402:HK

HKD

0.051

-0.001

-1.92%

0.055

0.055

0.051

3,090,000

17-Oct

-65.54%

-69.64%

North Asia Resources

61:HK

HKD

0.44

0

0.00%

0.48

0.48

0.42

215,000

17-Oct

-51.65%

-69.86%

China Daye Non-Fer.

661:HK

HKD

0.445

0.04

9.88%

0.41

0.45

0.41

9,244,000

17-Oct

-20.54%

-4.30%

Bestway Int’l

718:HK

HKD

0.045

0

0.00%

0.045

0.045

0.045

0

17-Oct

-68.09%

-71.70%

Asia Coal

835:HK

HKD

0.12

0.01

9.09%

0.12

0.12

0.12

3,300,000

17-Oct

-52.00%

-57.14%

Mongolian Mining

975:HK

HKD

7.02

0.26

3.85%

6.96

7.1

6.96

4,626,400

17-Oct

-22.60%

-14.39%

SGX

LionGold

LIGO:SP

SGD

0.865

0

0.00%

0.865

0.87

0.86

9,154,000

17-Oct

18.49%

108.43%

LSE

Central Asia Metals

CAML:LN

GBp

68

0

0.00%

68

68

68

3,008

17-Oct

-24.65%

-29.53%

Petro Matad

MATD:LN

GBp

28.25

-3.25

-10.32%

31.5

31.5

27.5

122,531

17-Oct

-76.84%

-80.38%

Metal-Tech

MTT:LN

GBp

5.5

0

0.00%

5.5

5.5

5.5

8,362

17-Oct

-64.52%

-57.69%

Origo Partners

OPP:LN

GBp

30.125

-1.75

-5.49%

31.875

31.875

30.125

478,186

17-Oct

-26.52%

-5.86%

North

America

Aberdeen Int’l

AAB:CN

CAD

0.65

-0.04

-5.80%

0.68

0.68

0.61

247,627

17-Oct

-19.62%

33.44%

Blue Zen Mem. Parks

BZM:CN

CAD

0.16

0

0.00%

0.16

0.16

0.16

0

7-Oct

Centerra Gold

CG:CN

CAD

20.19

0.3402

1.71%

20

20.2

19.86

298,914

17-Oct

3.94%

13.68%

China Gold

CGG:CN

CAD

3.17

-0.24

-7.04%

3.37

3.37

3.088

304,544

17-Oct

-41.62%

-37.96%

Denison Mines

DML:CN

CAD

1.2

-0.05

-4.00%

1.24

1.24

1.17

832,476

17-Oct

-64.81%

-40.59%

Denison Mines

DNN:US

$

1.17

-0.07

-5.65%

1.22

1.22

1.16

828,827

17-Oct

-65.79%

-41.50%

East Asia Minerals

EAS:CN

CAD

0.66

0

0.00%

0.66

0.68

0.64

489,769

17-Oct

-91.79%

-90.81%

Entree Gold

EGI:US

$

1.6

-0.04

-2.44%

1.64

1.6501

1.58

51,575

17-Oct

-53.76%

-44.44%

Erdene Resource

ERD:CN

CAD

0.54

0

0.00%

0.55

0.56

0.5

45,921

17-Oct

-56.45%

14.89%

Entree Gold

ETG:CN

CAD

1.65

-0.01

-0.60%

1.67

1.68

1.62

82,918

17-Oct

-52.45%

-43.49%

Fortress Minerals

FST:CN

CAD

4.1

0.1

2.50%

4.1

4.1

4.1

500

17-Oct

-5.75%

24.24%

Garrison Int’l

GAU:CN

CAD

0.03

0

0.00%

0.03

0.03

0.03

179,000

17-Oct

-66.67%

-50.00%

Gulfside Minerals

GMG:CN

CAD

0.09

0.03

50.00%

0.08

0.1

0.08

245,000

17-Oct

-5.26%

-40.00%

Green Tech Solutions

GTSO:US

$

0.1111

-0.0129

-10.40%

0.115

0.13

0.111

86,202

17-Oct

-97.22%

Ivanhoe Energy

IE:CN

CAD

1.29

-0.09

-6.52%

1.38

1.39

1.26

441,965

17-Oct

-52.57%

-44.40%

Ivanhoe Energy

IVAN:US

$

1.27

-0.11

-7.97%

1.39

1.39

1.25

585,219

17-Oct

-53.31%

-45.26%

Ivanhoe Mines

IVN:CN

CAD

17.15

-0.9665

-5.33%

18.51

18.52

17.07

1,604,092

17-Oct

-25.43%

-26.65%

Ivanhoe Mines

IVN:US

$

16.81

-1.38

-7.59%

18.08

18.13

16.71

2,924,283

17-Oct

-26.66%

-27.13%

Kincora Copper

KCC:CN

CAD

0.38

0.08

26.67%

0.38

0.38

0.38

50,016

17-Oct

40.74%

261.91%

Khan Resources

KRI:CN

CAD

0.255

0.005

2.00%

0.23

0.255

0.23

17,900

17-Oct

-46.88%

-32.89%

Long Harbour

LHC:CN

CAD

0.16

0

0.00%

0.16

0.16

0.16

0

7-Oct

 

Lucky Strike

LKY:CN

CAD

0.65

-0.04

-5.80%

0.64

0.65

0.64

7,961

17-Oct

-55.17%

261.11%

Meritus Minerals

MER:CN

CAD

0.035

-0.005

-12.50%

0.035

0.035

0.035

80,062

17-Oct

-82.50%

-92.63%

Manas Petroleum

MNAP:US

$

0.195

-0.005

-2.50%

0.2

0.2

0.183

16,800

17-Oct

-67.50%

-62.49%

Blue Wolf Mongolia

MNGL:US

$

9.58

0

0.00%

9.59

9.61

9.58

0

14-Oct

 

 

Blue Wolf Mongolia

MNGLU:US

$

10.2

0.09

0.89%

10.2

10.2

10.2

1,000

17-Oct

Manas Petroleum

MNP:CN

CAD

0.18

0

0.00%

0.18

0.18

0.18

0

11-Oct

Prophecy Coal

PCY:CN

CAD

0.465

-0.015

-3.13%

0.47

0.48

0.465

119,691

17-Oct

-46.22%

-18.51%

Puget Ventures

PVS:CN

CAD

0.49

0

0.00%

0

17-Sep

SouthGobi Resources

SGQ:CN

CAD

7.54

-0.14

-1.82%

7.62

7.65

7.45

18,097

17-Oct

-38.10%

-23.14%

Solomon Resources

SRB:CN

CAD

0.08

0

0.00%

0.08

0.08

0.08

95,000

17-Oct

-62.79%

-78.95%

Wedge Energy

WEG:CN

CAD

0.015

0

0.00%

0

3-Aug

 

 

Mongolia Growth Group

YAK:CN

CAD

4.6

-0.1

-2.13%

4.75

4.77

4.6

40,500

17-Oct

 

 

 

---

"Mogi" Munkhdul Badral

Senior Client Manager / 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.

1 comment:


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