[CPSI NewsWire: Banpu's Stake in Hunnu Reaches 90% Level]

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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Banpu stake in Hunnu reaches 90.19%

November 7, Hunnu Coal Limited (ASX:HUN) --

Link to release

 

Banpu: OFFERS FOR HUNNU SHARES AND OPTIONS TO CLOSE ON 7 NOVEMBER 2011

November 7, Hunnu Coal Limited (ASX:HUN) --

Highlights:

·         Banpu now has a relevant interest in 90.19% of Hunnu shares and 100% of Hunnu options

·         Banpu’s Share Offer and Option Offer to close at 7.00pm (Sydney time) today, being 7 November 2011

·         Remaining Hunnu shareholders are urged to accept the Share Offer before it closes to benefit from accelerated payment terms

…

Link to release

 

Banpu: ACCELERATED PAYMENT TERMS FOR ACCEPTING HUNNU SHAREHOLDERS AND OPTIONHOLDERS

November 3, Hunnu Coal Limited (ASX:HUN) --

Highlights:

•      PAYMENT TERMS ACCELERATED – Hunnu shareholders and optionholders who have accepted the Offers before 7:00pm (Sydney time) on 7 November 2011 will be sent their payment on or before 14 November 2011

•      Banpu now has a relevant interest in 85.80% of Hunnu shares 100% of Hunnu option

•      Banpu’s Offers are unconditional

…

Link to release

 

HUNNU BOARD CHANGES

November 3, Hunnu Coal Limited (ASX:HUN) --On 26 October 2011, Banpu Minerals (Singapore) Pte Ltd (Banpu) announced that it had declared its recommended off-market takeover bids for Hunnu Coal Limited (Hunnu) unconditional.

As a result of Banpu declaring the takeover bids unconditional, the following Banpu nominees have been added to the Hunnu Board:

•      Mr. Chanin Vongkusolkit;

•      Ms. Somruedee Chaimongkol;

•      Mr. Akaraphong Dayananda;

•      Mr. Dumrong Chantong;

•      Mr. Aphimuk Taifayongvichit; and 

•      Mr. Bruce S. Allan (independent non-executive director).

Mr Mathew Wood has also been replaced by Mr Chanin Vongkusolkit as Executive Chairman of the Board of the Company.

In addition, resignations have been received from Mr Timothy Flavel and Mr Daniel Crennan.

The Board has formally thanked the outgoing Hunnu directors for their contribution.

Earlier today, Banpu announced that it has a relevant interest in 79.30% of Hunnu ordinary shares and 100% of the total number of options on issue in Hunnu.

Link to release

 

CPS Securities continues to recommend HAR as a speculative buy based on these results. HAR closed at 22c on Friday

Haranga Resources intersects more iron mineralisation at Selenge Project in Mongolia

November 3 (Proactive Investors) Haranga Resources (ASX: HAR) has intersected further extensions to the iron mineralisation at the Bayantsogt prospect, within its Selenge Project in Mongolia, where four diamond rigs continue to drill.

A total of 24 of the 26 diamond drill holes at Bayantsogt have intersected significant widths of iron mineralisation.

The company has also discovered significant widths of iron mineralisation at the nearby and larger Dund Bulag prospect. 

Highlights from holes 8 to 14 include:

-       41 metres at 26% iron from 107 metres, including 10 metres at 42% iron from 113 metres;

-       18 metres at 31% iron from 65 metres 

-       5 metres at 40% iron from 106 metres 

These results are in addition to the previously reported intervals from Holes 1 to 7 that included 26 metres at 27% iron from 32 metres.

At least five major iron lodes exist at Bayantsogt averaging about 20 metres, and up to 103 metres, in width.

Initial drilling at the larger Dund Bulag prospect has discovered significant widths of banded magnetite of a similar nature to Bayantsogt, with assays pending.

Significantly, similar banded magnetite mineralisation has proven amenable to low cost mining and beneficiation at nearby Eruu Gol, Mongolia’s largest iron ore export mine.

This mine currently produces about 2.5 million tonnes of magnetite concentrate per annum and ships the product via a newly constructed 75 kilometre rail spur connecting the mine to the main trans-Mongolian rail line.

Importantly, the Selenge project area also has access to the main trans-Mongolian rail line and nearby rail spurs.

The company has commenced metallurgical test work on samples from Bayantsogt.

The Selenge iron ore project consists of five contiguous exploration licences covering almost 600 square kilometres of ground in the heart of Mongolia’s premier iron ore development region.

Link to article

Link to HAR release

Disclosure: I hold shares in HAR

 

MATD closed -12.21% to 18.88p

Petro Matad well in Mongolia produces no oil

November 4 (StockMarketWire.com) - Petro Matad (LON:MATD) has reported that no oil was recovered during the testing of the Davsan Tolgoi 11 well (DT-11) in eastern Mongolia.

However, the company remains confident of being more successful in its other drilling in the area.

Commenting on the analysis of the results from DT-11, Petro Matad CEO Doug McGay said: "We are disappointed that the test results from DT-11 have revealed that the crest of Davsan Tolgoi anticline does not contain commercial oil. 

"However it is important to note that the focus on the prospect on the crestal area is only one component of Davsan Tolgoi and there is still scope for the development of other parts of the prospect. In addition there remains advanced exploration potential in the area around Davsan Tolgoi and the other basins in Block XX are developing into promising plays.

"These results are viewed by the company as part of the systematic exploration of Block XX and whilst the crestal area has not proved to be commercial on testing we are encouraged by the positives arising from our broader exploration programme. 

"Both the DQE International drilling rig and the workover rig are on standby on site, awaiting an early start to the 2012 drilling season. The company had also identified and had successful contract negotiations with an international company that will supply stimulation (fraccing) services, and whilst this programme has been placed on standby for the current time, it is envisaged that stimulations programmes will be run on a selection of the existing wells in 2012 following the winter stand-down.

"We look forward to advising our shareholders and the market of the complete results of our 2011 exploration programmes, including our revised resource base; the remapping of the greater Davsan Tolgoi area and environs; and the conclusions from the extensive 2D seismic programme over the many other prospective areas of Block XX.

"In view of our recent exploration results and the successful commercial exploitation of oil finds of similar basins in the region we remain very positive about the prospects of success for our on-going exploration programmes.

"Other aspects of the company's 2011 exploration programmes are also entering the assessments and reporting stage. Namely, the fieldwork on Blocks IV and V is drawing to a close after a busy year. We look forward to providing shareholders with an update on the provisional results, conclusions and forward work programme for those two Blocks."

At 12:31pm: (LON:MATD) share price was -2.87p at 18.63p

Link to article

Link to MATD release

 

CG closed at C$21.03 on Friday

Centerra eyes 1Moz/y gold output by 2012

TORONTO, November 5 (miningweekly.com) – Centerra Gold (TSX:CG), which operates the biggest gold mine in Central Asia, plans to boost production by 50% by around 2014 to just under one-million ounces yearly, CEO Steve Lang said in an interview on Friday.

The TSX-listed company forecast output of between 640 000 to 660 000 oz this year from its Boroo operation in Mongolia and the Kumtor mine in the Kyrgyz Republic.

At Boroo, the company is producing at around 50 000 oz/y using stockpiled ore, but Centerra wants to increase the mill’s output to between 150 000 oz/y and 200 000 oz/y by feeding it with ore from the Gatsuurt deposit 35 km away.

Permitting has delayed this, though Lang remains confident Centerra will ultimately win approval from the Mongolian government.

The problems began in 2009 when the government introduced a new law that blocked any mining development in forested areas or at headwaters, and Gatsuurt falls in this catagory. The legislation said that miners that lost previously held licences would get compensated.

Then, about a year ago the government completed a study of how many permits were affected by the law and what levels of compensation the government would have to dish out.

The numbers it came up with were more than $5-billion required to compensate the holders of around 1 700 licences that would be revoked.

The Mongolian parliament decided it would implement the law despite the scale of compensation, but would do so in stages.

The first victims were around 500 alluvial miners, mainly local companies.

The compensation they were to receive still totalled a hefty $500-million, which Lang said the state would have struggled to pay, so the companies that got their licences revoked decided to collectively sue the government.

As a result of this, Prime Minister Sukhbaatar Batbold decided to suspend the enforcement of the law, and the group of miners dropped their court case.

He formed a parliamentary committee that came up with amendments to the legislation to make it more practical. Lang said the result would have allowed Gatsuurt to progress.

Parliament soon after broke off for the summer recess, before the amendments had gone to vote.

Upon its return, a group of 20 parliamentarians opened up a hornets’ nest in demanding that Batbold renegotiate an investment agreement with the owners of the country’s biggest mining project, the giant Oyu Tolgoi copper-gold mine.

Canada’s Ivanhoe Mines refused to budge on the agreement, which took more than six years to draw up, as did its biggest shareholder, Rio Tinto, with the government ultimately backing down.

How the affair impacted Centerra, was that it distracted Parliament’s from the amendments to the environmental legislation, which Lang said fell somewhat on its priority list.

Where does this leave the Toronto-based firm?

“Although it’s frustrating not to see progress being made, it’s best at this point that we step back from it,” Lang said of what he perceived to be “an internal Mongolian matter”.

The country is set for general elections in June next year, which could further delay Gatsuurt’s approval if it does arrive before the ballot.

Centerra’s other growth will come from its flagship Kumtor mine, where it is adding underground production to the existing pit, starting from 2013, said Lang.

“It will probably take two years to get up to the regular run rate there,” he added.

That project, combined with Gatsuurt, would lift Centerra’s output by about 50% to just under one-million ounces annually “in the next three years or so”, said Lang.

Link to article

Link to Centerra release

 

ETG closed at C$1.93 on Friday

Entree Gold cuts third quarter loss as it scales back Mongolian exploration

VANCOUVER, November 4 (The Canadian Press) - Entree Gold Inc. (TSX:ETG) cut its net loss by nearly half in the third quarter as the Vancouver-based gold explorer cut its exploration expenses in Mongolia.

The company reported Friday it lost US$3.5 million or three cents a share for the three months ended Sept. 30.

That compared with a loss of US$6.5 million or six cents a year earlier.

In another development later Friday, the company said it plans to raise C$12.5 million by issuing common shares to investors.

The money will be used to finance exploration and development of mine projects in Nevada and Mongolia.

In its earnings report, Entree said its lower net loss partly reflected decreased exploration in Mongolia as the Company continues to focus on its Yerington copper projects in Nevada.

In addition, the company benefited from a gain on the sale of its asset backed commercial paper and a deferred income tax recovery.

"Exploration work during this quarter has concentrated on the Ann Mason and Blue Hill projects in Nevada," said Greg Crowe, president and CEO of Entree Gold.

"Drilling continues to reinforce our belief in the potential of this property. The discovery of near-surface oxide mineralization between Blue Hill and Ann Mason has revealed an important new area to focus further exploration."

Entree is focused on the worldwide exploration and development of copper and gold projects.

The company's Lookout Hill property in Mongolia surrounds Ivanhoe Mines' Oyu Tolgoi project, a world-class gold and copper deposit.

In North and South America, the company explores for copper in Nevada, Arizona, New Mexico and Peru.

In trading on the TSX, Entree Gold shares fell three cents to $1.90.

Link to article

Link to Entrée release and full report

Draft Prospectus in connection with proposed capital raising

 

OPP closed at 33.5p on Friday

Modest fall in Origo's NAV

November 4 (StockMarketWire.com) - The unaudited net asset value of Origo Partners (LON:OPP) fell to US$215.4 million from US$225.1 million for the period ending June 30, 2011 due principally to the movement of fair market value of quoted investments and currency movements.

Chris Rynning, Origo's CEO, said:

"The Chinese economy continues to perform in line with our expectations with strong domestic demand supported by robust public finances and as a result we remain committed to our investment strategy. During the Period we made a follow-on investment of US$10 million in China Rice, giving us increased exposure to Chinese consumer markets."

"Our investments in Mongolia continue to progress well, and recent events have shown that the Government remains committed to supporting the equitable development of the country's natural resource sector. The creation of Kincora Copper in July is particularly exciting for Origo, enabling us to combine our stake in a very promising Mongolian copper/gold project with a very experienced management team and create a listed company that has the potential to deliver significant value."

"During Q3, we continued to build our asset management business through the successful launch of two new, innovative funds targeting Chinese clean tech companies and Mongolia respectively. We continue to develop further asset management opportunities and expect the management of third party investment vehicles to become an increasing part of our business."

Link to article

Link to OPP release

 

DML closed at C$1.55 on Friday

Denison Mines Corp. Reports Third Quarter 2011 Results

TORONTO, ONTARIO--(Marketwire - Nov. 3, 2011) - Denison Mines Corp. ("Denison" or the "Company") (TSX:DML)(NYSE Amex:DNN

)today reported its financial results for the three months and nine months ended September 30, 2011.

The Company recorded net income of $15,484,000 or $0.04 per share for the three months ended September 30, 2011 compared with a net loss of $5,518,000 or $0.02 per share for the same period in 2010. For the nine months ended September 30, 2011, the Company recorded a net loss of $5,332,000 or $0.01 per share compared to net income of $4,047,000 or $0.01 per share for the same period in 2010.

…

Mineral Property Exploration

Denison is engaged in uranium exploration, as both operator and non-operator of joint ventures and as operator of its own properties in Canada, the U.S., Mongolia and Zambia. For the three months ended September 30, 2011 exploration expenditures totaled $6,917,000 and $12,558,000 for the nine months ended September 30, 2011 as compared to $2,556,000 for the three months ended September 30, 2010 and $6,050,000 for the nine months ended September 30, 2010.

…

Exploration expenditures of $2,802,000 and $3,771,000 for the three and nine months ended September 30, 2011 compared to $486,000 for the three months and $841,000 for the nine months ended September 30, 2010 were incurred in Mongolia on the Company's joint venture properties. Exploration and definition drilling totaling approximately 51,000 metres was completed on GSJV licence areas in 2011. At the Hairhan, Haraat and Gurvan Saihan licence areas, drilling totaling 14,800 metres was directed toward determining the extent of potential mineralized horizons to support delimiting boundaries for mining licence applications. At the Ulziit project, 27,900 metres of drilling was conducted to confirm mineralization initially discovered in 2008. Based on the 2011 drilling at Ulziit, an initial resource estimate, in compliance with Mongolian requirements, is being prepared. At the Urt Tsav/Hokh Tolgoi licence area, reconnaissance drilling confirmed the presence and continuity of a mineralized channel system; further exploration is warranted on the licence. The Company has a 70% interest in the Gurvan Saihan Joint Venture ("GSJV") in Mongolia. The other parties to the joint venture are the Mongolian Government as to 15% and Geologorazvedka, a Russian entity, as to 15%. Under the Nuclear Energy Law, the Government of Mongolia could acquire a 34% to 51% interest at no cost to the Government. Discussions are underway with the Mongolian Government regarding resolution of the ownership structure of the GSJV and issuance of mining licences.

Link to article

 

MMC closed at HK$6.75 on Friday

MMC: RESIGNATION AND APPOINTMENT OF CHIEF FINANCIAL OFFICER

November 4, Mongolian Mining Corporation Limited (HK:975) --

Resignation of Chief Financial Officer

The board (the “Board”) of directors (the “Directors”) of Mongolian Mining Corporation (the “Company”) announces that Mr. Gankhuyag Adilbish (“Mr. Adilbish”) has resigned from his position as Chief Financial Officer of the Company with effect from 4 November 2011 to resume his duties as managing director of MCS Holding LLC, a controlling shareholder of the Company (together with its subsidiaries the “MCS Group”) and a director of a number of subsidiaries within the MCS Group.

Mr. Adilbish has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company.

The Board would like to take this opportunity to thank Mr. Adilbish for his efforts and valuable contributions to the Company during his tenure of office and wishes him success in his future endeavours.

Appointment of new Chief Financial Officer

The Board is also pleased to announce the appointment of Ms. Enkhzaya Nyamdorj (“Ms. Nyamdorj”) as the new Chief Financial Officer of the Company with effect from 4 November 2011.

Ms. Nyamdorj, aged 36, joined the Company as a Deputy Chief Financial Officer on 1 August 2011. Ms. Nyamdorj was awarded a bachelor’s degree in Business Administration, Economics and Marketing by the National University of Mongolia in 1997 and a master’s degree in Business Administration in International Business and Finance by the Schiller International University in the United States of America (“USA”) in 2000. Ms. Nyamdorj is a Certified Public Accountant in the USA and a member of the California Society of Certified Public Accountants.

Prior to joining the Company, Ms. Nyamdorj was a senior manager at Ernst & Young LLP’s Chicago office, where she had been working since 2000. With over 10 years of experience in public accounting, finance and business development, she has a strong background working with companies in diverse industries and various sizes including newly formed companies, publicly listed companies and corporations within the Fortune 500.

The Board wishes to express its warm welcome to Ms. Nyamdorj on her appointment as the Chief Financial Officer of the Company.

Link to release

 

Government addresses infrastructure issues in Umnugobi

November 3 (news.mn) At its meeting on Wednesday, the Government discussed infrastructure problems in Umnugobi aimag, with members ratifying a protocol to address the issue. 

Members discussed energy supply, road construction, and water supply issues in Umnugobi, as well as general plans for Khanbogd, Tsogttsetsii, and Gurvantes soums and the Gashuunsukhait and Shiveekhuren border points.

Erdenes Tavantolgoi LLC has been asked to begin construction of a power plant for the Tavantolgoi mine by next June. According to the protocol, the power plant will be transferred to the state after a fixed period of time.

Also, Oyutolgoi LLC has been asked to build a power plant for the Oyutolgoi mine. But the state has instructed Oyutolgoi LLC that the cost of building the plant should not affect the cost of developing the mine, that the plant will eventually be transferred to the state, and that the plant must burn coal from the Tavantolgoi mine. 

The protocol also includes measures for remediating soil erosion and dust, and for increasing coal exports. A road from Tavantolgoi to the Gashuunsukhait border point will be upgraded to increase capacity. 

Also, Erdenes Tavantolgoi LLC has been asked to research construction of a road from Umnugobi to the Khangimandal and Zamiin-Uud border points and to report the results to the Government. 

Since mining and infrastructure developments require much water, the relevant ministers, agency heads, and aimag governors have been asked to organize a study of underground water in the Tavantolgoi mine area and Sainshand city. Members also decided that Erdenes Tavantolgoi LLC will use water from an underground reserve in Balgasiin Ulaan Nuur in Khankhongor soum, Umnugobi aimag. 

Link to article

 

Cabinet: DO NOT POLLUTE AIR AND GET DISCOUNT

Ulaanbaatar, Mongolia, November 2 /MONTSAME/ At its regular meeting held on Wednesday, the cabinet approved a rule on a discount on electricity price. 

It will apply to the families who live in the UB city's air quality zone. 

Accordingly, the nighttime electricity tariff is to declined 50 per cent for those who satisfies specific criteria in contributing to reduction of air pollution, moreover, this nightime period has been newly fixed--from 6.00 p.m to 9.00 a.m., increasing by six hours, and even the tariff is to decline twice.

Families who want to enjoy the discount may apply to related organizations and make a bilateral contract. They must have electricity-meters and electric appliances of high quality.

The Minister of Finance S.Bayartsogt has been obliged to deal with the money-related issues and to give kind of compensation to energy producers. Some Minister and the city's Mayor have been ordered to put control over the rule and to report to the cabinet every June about a course of works for reducing air pollution.

It has been calculated that MNT 2.5 billion will be required for this year's discount for 90,700 families, and MNT 5.9 billion--the next year. 

Link to article

 

Cabinet: CREDIT AGREEMENT TO BE SUBMITTED TO PARLIAMENT

Ulaanbaatar, Mongolia, November 2 /MONTSAME/ On Wednesday, the regular cabinet meeting considered as necessity to submit to parliament a draft law on ratifying a credit agreement on higher educational reform project to be established between the government of Mongolia and the Asian Development Bank (ADB).

The project has three main parts such as higher education's programs quality improvement, the governance, management and financing ungrade, and the equality and sufficiency improvement. In their frames, it is needed to draw up a policy recommendation on the sector's reform, to renovate the tuition fees, to improve training environment and facilities, to create standards of national evaluation for teachers, and to improve qualities of universities and institutes in localities.

The project will be realized until December 31, 2016 and will get a soft loan of USD 20 million from the ADB and investments of USD 2.22 million from the government. The soft-loan is to be given for 32 years freed from the main payment in the first eight years.

Link to article

 

MPs to give SPC purchasing power

November 4 (news.mn) At Friday’s session of Parliament, MPs discussed a draft protocol on the structure of state administration.

Instead of putting the Finance Ministry in charge of purchasing goods and services for the state, the MPs gave that responsibility to the State Property Committee (SPC). In making the switch, some MPs cited controversies surrounding the Finance Ministry’s tender announcements in recent years.

MPs said the SPC was a better fit anyway, since privatization has reduced state property and the committee has not had much work lately.

They also added that, in many other countries, state property committees are in charge of purchasing goods and services. 

Link to article

 

Parliament approves new monetary policy

November 5 (news.mn) Parliament approved a new state monetary policy on Friday and forwarded it to the Standing Committee on Economics. 

But some MPs were critical of the policy, saying it shouldn’t be approved until the 2012 state budget is finalized, and that state spending is still too high. They also said some businesses are unable to get loans because Mongol Bank is raising its rates. 

Critics also pointed out that the Government still plans to give each citizen a monthly “allowance” of MNT 21,000 until the middle of next year. That fulfills a campaign pledge made in 2008, but critics say the budget should not be politicized in such a way.

Some MPs suggested reducing expenditures in the 2012 budget, and monitoring business loans more closely. They also said Mongol Bank should research ways to curb inflation other than raising rates.

Link to article

 

Inflation now stands at 10.5 percent

November 5 (news.mn) Mongol Bank President L.Purevdorj has announced that inflation in Mongolia now stands at 10.5 percent. 

The Government says it plans to keep inflation in the single digits next year, but with large salary and pension increases in the proposed 2012 budget, along with large capital outlays and ongoing “allowances” to citizens, that won’t be easy. In fact, the International Monetary Fund has warned that inflation could reach 20 percent next year. 

L.Purevdorj attributes the latest inflation numbers to increased spending in the state’s revised 2011 budget, as well as changes in meat and petroleum prices.

But there are some good signs. L.Purevdorj said Mongol Bank’s research shows that meat prices will not rise much in 2012, and petroleum prices are expected to hold steady. 

Link to article

 

Speaker tells MPs to “speed discussion” of draft election law

November 3 (news.mn) Speaker D.Demberel met with MPP and DP officials on Wednesday and urged them to “speed discussion” of a draft law on the 2012 election. 

The speaker met with MPP Chairman and Prime Minister S.Batbold; DP Chairman and First Deputy Prime Minister N.Altankhuyag; MPP caucus chairman MP U.Enkhtuvshin; DP caucus chairman MP Ch.Saikhanbileg; and Standing Committee on State Structure Chairman J.Sukhbaatar.

D.Demberel noted that Parliament has worked slowly on the draft election law. 

He said Parliament can decide electoral districts according to its protocols and the amendment to the election law agreed upon by the two parties three years ago. 

D.Demberel asked the MPP and DP officials to hammer out an agreement this week so Parliament can take up the issue next week.

He added that if the MPP and DP caucuses can’t reach an agreement, Parliament can act unilaterally. He said the public is eager for Parliament to reach a decision. 

Link to article

 

(ADB) CREDIT AGREEMENT TO BE SUBMITTED TO PARLIAMENT

Ulaanbaatar, Mongolia, November 2 /MONTSAME/ On Wednesday, the regular cabinet meeting considered as necessity to submit to parliament a draft law on ratifying a credit agreement on higher educational reform project to be established between the government of Mongolia and the Asian Development Bank (ADB).

The project has three main parts such as higher education's programs quality improvement, the governance, management and financing ungrade, and the equality and sufficiency improvement. In their frames, it is needed to draw up a policy recommendation on the sector's reform, to renovate the tuition fees, to improve training environment and facilities, to create standards of national evaluation for teachers, and to improve qualities of universities and institutes in localities.

The project will be realized until December 31, 2016 and will get a soft loan of USD 20 million from the ADB and investments of USD 2.22 million from the government. The soft-loan is to be given for 32 years freed from the main payment in the first eight years.

Link to article

 

Mongolia's trade volume rises 92.4 percent on-year in January-September

ULAN BATOR, Nov. 4 (Xinhua) -- Mongolia's trade volume reached more than 8 billion U.S. dollars in the January-September period of this year, up 92.4 percent from the same period in 2010, said the central bank of Mongolia.

The bank's latest statistics showed Mongolia's exports stood at 3.3 billion dollars in the first three quarters of this year, representing a year-on-year increase of 66.7 percent, while imports reached 4.8 billion dollars, up 114.7 percent with a trade deficit of about 1.5 billion dollars.

The increased deficit was mainly caused by the country's surging imports of heavy machinery, fuel, cars and trucks and furniture, according to the bank.

Link to article

 

PRESIDENTIAL OFFICE HEAD VISITS KUWAIT

Ulaanbaatar, Mongolia, November 3 /MONTSAME/ A head of the President's office Mr. D.Battulga has visited the State of Kuwait. 

Together with accompanying him delegates Battulga stayed there from October 29 to November 2 invited by Sheikh Nasser Sabah Al Ahmad Al Jaber Al Sabah, the Minister for Amiri Diwan Affairs.

In frames of the visit, Mr Battulga has met with the Minister Nasser Sabakh Al Ahmad Al Jaber Al Sabah to focus on the issues of the Mongolia-Kuwait relationship and cooperation. Other meetings on the same content have been held with the Minister of Finance Mr. Mustafa Jassem Al-Shamali, Kuwait Investment Authority (KIA) Executive Committee Director Mr. Bader Al-Sa'ad (MD), and the Kuwait Fund for Arab Economic Development Director-General Mr. Abdulwahab Al-Bader. 

The Minister of Finance Mustafa Jassem Al-Shamaki said that intends to visit Mongolia in November this year. 

Link to article

 

Second phase of water and heating system improvements to begin (with KOICA aid)

November 4 (news.mn) Ulaanbaatar Administration and the Korea International Cooperation Agency (KOICA) signed an agreement on Thursday to implement the second phase of water and heating system improvements in the capital.

Ulaanbaatar Manager General Ch.Bat, Apartments Utility Office Head D.Dashzeveg, and KOICA officials Kun Mu Hon and Li Dung Gu signed the agreement. 

KOICA implemented the first phase of the project between 2007 and 2009, renovating 44 water and heating delivery systems in the capital at a cost of USD 5 million. 

The second phase will see 42 apartment block systems improved by KOICA, with funding of USD 5 million provided by the South Korean government in cooperation with KOICA.

Link to article

 

Rules set for “100,000 Apartments” program

November 5 (news.mn) The Housing Finance Corporation has finished drafting rules for the Government’s “100,000 Apartments” program.

According to the draft rules, eligible first-time home buyers can obtain 25-year loans at a six-percent interest rate from commercial banks. Apartments purchased under the program must be smaller than 50 square meters.

The loan program will be implemented after a list of eligible apartments is completed.

The Government is still to decide on a separate program that would give free land to people on lower incomes.

Link to article

 

MPP managing council discusses election, schedules conference

November 4 (news.mn) The MPP’s managing council met on Wednesday and announced plans to hold a party conference on November 28 to discuss the 2012 election and to report on the party’s work since changing its name from the MPRP to the MPP.

The managing council also discussed the draft election law and decided that the party will hold firm to its proposal of a 28:48 election structure.

The managing council also decided to meet again before the conference. 

At the next meeting, MPP Chairman and Prime Minister S.Batbold will read a political report and delegates will plan the conference. The council will also discuss the post of women’s party secretary, and possible women candidates in the 2012 election.

Link to article

 

(Minister) D.Zorigt: Stability is important in mining sector

November 4 (news.mn) Mineral Resources and Energy Minister D.Zorigt gave a speech at the “Metals Mongolia 2011” forum on Thursday.

He stated that stability is important in Mongolia’s mining sector. He said Mongolia has abundant mineral resources like Kazakhstan, which has become one of the world’s leading mining countries over the past two decades by creating stability for investors.

The minister cited statistics showing that per capita GDP in Kazakhstan will soon reach USD 15,000. He said Kazakhstan is a good example for Mongolia to study. He noted that some African countries have not properly exploited their mineral resources, resulting in a so-called “curse.” He said Mongolia must take heed of those situations.

He said investors want stability in the mining sector because mining projects carry great risks, as well as great capital costs. 

Investors at the forum also raised the stability issue, saying it was necessary for the future of Mongolia’s mining sector.

Link to article

 

DP launches new fundraising campaign

November 4 (news.mn) The DP has launched a new fundraising campaign. The announcement was made at the party’s monthly “4:11” meeting with journalists on Thursday. (The meetings are held on the first Thursday of every month at 11.00 in the morning.)

DP officials said the campaign will raise money from individuals and organizations to finance the party’s programs, including Mongol Citizen 2020 and Economic Revolution.  

DP Chairman N.Altankhuyag noted that the campaign will be open, fair, and transparent. He said individuals could donate up to MNT 2 million annually, and organizations up to MNT 20 million. 

The campaign’s website is www.handiv.mn. 

Link to article

 

CW-GP slams SSC for failing to register the party

November 4 (news.mn) Representatives of the Civil Will-Green Party (CW-GP) held a press conference on Thursday to criticize the State Supreme Court (SSC) for failing to register the party. They said some SSC judges were playing politics by not registering the CW-GP, since the court has already registered the Green Party (GP). They also claimed that current GP Chairman S.Maam and GP official D.Batbaatar were not members of the GP. 

The CW-GP representatives said 800 delegates attended the CW-GP Assembly in the Government House on March 26, 2011, and decided to form the alliance. But the SSC has not registered the party and has demanded more paperwork. The CW-GP representatives said more than 1,000 pages of documents have been submitted to the SSC. The SSC has rejected the CW-GP’s registration request five times in seven months. 

The CW-GP representatives said the SSC has been politicized ever since it agreed to register the MPRP. But they also said they will continue to press the SSC for registration. 

Link to article

 

Organization releases results of “fair competition” survey

November 4 (news.mn) The Authority for Fair Competition and Consumer Protection (AFCCP), the agency created to monitor free markets in Mongolia, has released the results of its latest survey. 

For 2011, AFCCP researched Mongolia’s petroleum and aviation fuel markets, the banking sector, and consumer goods, among other sectors.

AFCCP determined that 58 percent of the sectors surveyed were dominated or monopolized by a single entity. Only 20 percent were classified as “market competition.” 

The survey was conducted with the assistance of the United States Agency for International Development (USAID). AFCCP has conducted more than 50 surveys since 2005.

Link to article

 

MAP: Countries Most At Risk From A Chinese Hard Landing

November 3 (Business Insider) Emerging economies in Asia have been fairly sheltered from Eurozone contagion, but are highly integrated with one another. And with some predicting a hard landing for China, economies like those of Hong Kong and Mongolia that thrived during China's boom cycles are most at risk of contagion during the bad, according to Maplecroft’s Emerging Powers Integration report.

Hong Kong has been chosen as the destination for China's offshore yuan market and is also heavily dependent on trade with the country. China is Mongolia's biggest trading partner. In the past two decades, Mongolia has derived 51% of its foreign investment from China. Moreover its exports to China accounted for 69% of its GDP in 2009.

But Mongolia is actively trying to cut its exposure to China.  As the Tavan Tolgoi coal mine case points out, the Mongolian government voted to build a railroad to Russia over China even though the latter was only 200 km away.

The index considers trade data and foreign direct investment data to determine integration risk. This map from Maplecroft shows the 20 countries most at risk of contagion from China.

Link to article

 

Hyatt to move into Mongolia.

November 5 (4Hoteliers, source: HVS International) Hyatt Hotels Corporation is set to open its first two properties in Mongolia by 2015, with the Hyatt Regency Ulaanbaatar will open in 2014 and be located in the centre of the Mongolian capital. 

The 259-key property, which will include 22 serviced apartments, will be part of the MAK Tower mixed-use development. 

The second property, the Hyatt Regency Ulaanbaatar Turtle Rock, will be located in Mongolia's Terelj National Park, 40 kilometres from Ulaanbaatar. 

The 131-key resort hotel will feature an additional 30 traditional Mongolian gers and is expected to open in 2015. 

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		4,281.10	109.3	2.62%	4,199.80	4,282.50	4,199.80	-	4-Nov
	Nikkei 225	NKY:IND		8,801.40	160.98	1.86%	8,761.27	8,814.71	8,729.08	-	4-Nov
	Hang Seng	HSI:IND		19,842.79	600.29	3.12%	19,922.77	19,981.52	19,773.31	-	4-Nov
	FTSE 100	UKX:IND		5,527.16	-18.48	-0.33%	5,545.64	5,599.46	5,495.38	-	4-Nov
	TSX Composite	SPTSX:IND		12,408.25	-60.0996	-0.48%	12,432.56	12,470.04	12,308.21	-	4-Nov
	S&P 500	SPX:IND		1,253.23	-7.92004	-0.63%	1,260.82	1,260.82	1,238.92	-	4-Nov
ASX	Aspire Mining	AKM:AU	A$	0.395	0	0.00%	0.4	0.405	0.395	2,368,913	4-Nov	-17.71%	21.54%
	Blina Minerals	BDI:AU	A$	0.013	0.001	8.33%	0.013	0.013	0.013	371,616	4-Nov	-13.33%	-13.33%
	C@	CEO:AU	A$	0.055	0.001	1.85%	0.057	0.058	0.055	1,671,168	4-Nov	96.43%	139.13%
	General Mining	GMM:AU	A$	0.062	-0.003	-4.62%	0.065	0.065	0.062	80,000	4-Nov	-48.33%	-61.25%
	Guildford Coal	GUF:AU	A$	0.985	0.075	8.24%	0.925	0.985	0.92	54,094	4-Nov	34.93%	72.81%
	Haranga Resources	HAR:AU	A$	0.22	0	0.00%	0.22	0.22	0.22	50,000	4-Nov	-65.63%
	Hunnu Coal	HUN:AU	A$	1.785	0	0.00%	1.79	1.795	1.785	1,602,093	4-Nov	33.71%	66.05%
	Mongolian Res Corp	MUB:AU	A$	0.245	0	0.00%	0.245	0.245	0.245	0	2-Nov		-44.32%
	Robe Australia	ROB:AU	A$	0.012	0	0.00%	0.012	0.012	0.012	147,014	4-Nov	28.34%	56.86%
	TVN Corp.	TVN:AU	A$	0.053	-0.001	-1.85%	0.054	0.054	0.052	2,171,542	4-Nov	430.00%	381.82%
	Voyager Resources	VOR:AU	A$	0.078	0.002	2.63%	0.079	0.079	0.077	5,893,259	4-Nov	45.45%	101.40%
	Xanadu Mines	XAM:AU	A$	0.42	0.03	7.69%	0.39	0.42	0.39	35,564	4-Nov	-25.66%
MSE A Board	Aduunchuluun	ADL:MO	MNT	8,000	0	0.00%	8,000	8,000	7,990	297	4-Nov	0.00%	105.13%
	APU	APU:MO	MNT	3,150	-145	-4.40%	3,295	3,300	3,150	4,007	4-Nov	58.29%	86.39%
	Atar Urguu	ATR:MO	MNT	38,500	0	0.00%	38,500	38,500	38,500	10	4-Nov	113.89%
	Baganuur	BAN:MO	MNT	15,500	1497	10.69%	15,500	15,500	15,500	80	4-Nov	47.62%	116.75%
	Mogoin Gol	BDL:MO	MNT	30,000	-1500	-4.76%	30,500	30,500	30,000	206	4-Nov	154.24%	233.33%
	BDSec	BDS:MO	MNT	4,000	50	1.27%	3,950	4,000	3,950	1,063	4-Nov	60.00%	63.27%
	Bayangol Hotel	BNG:MO	MNT	39,500	500	1.28%	39,000	39,500	39,000	62	4-Nov	65.27%	69.53%
	Bayanteeg	BTG:MO	MNT	31,100	-5441	-14.89%	31,060	31,100	31,060	27	4-Nov
	UB BUK	BUK:MO	MNT	26,000	2000	8.33%	26,000	26,000	26,000	20	4-Nov	472.06%
	Eermel	EER:MO	MNT	2,520	0	0.00%	2,520	2,520	2,510	222	4-Nov	-12.35%	62.58%
	Gobi	GOV:MO	MNT	5,100	0	0.00%	5,100	5,100	5,100	392	4-Nov	-8.93%	-7.27%
	Gutal	GTL:MO	MNT	2,210	0	0.00%	2,210	2,210	2,210	0	25-Oct
	Hi B Oil	HBO:MO	MNT	210	3	1.45%	207	210	207	4,920	4-Nov	16.67%	22.81%
	Khukh Gan	HGN:MO	MNT	198	0	0.00%	198	198	198	0	2-Nov	5.88%	23.75%
	Hermes Centre	HRM:MO	MNT	52	0	0.00%	52	52	52	6,500	4-Nov	-3.70%	-1.89%
	Jenko Tour Bureau	JTB:MO	MNT	96	0	0.00%	96	96	96	1,000	4-Nov	2.13%	-2.04%
	Telecom Mongolia	MCH:MO	MNT	2,551	-149	-5.52%	2,700	2,700	2,551	2,423	4-Nov	-27.11%	-24.97%
	Mongolia Dev Res	MDR:MO	MNT	1,200	100	9.09%	1,200	1,200	1,200	3,250	4-Nov	-7.69%	-14.29%
	Moninjbar	MIB:MO	MNT	135	0	0.00%	136	136	135	0	3-Nov	17.39%	12.50%
	Mongol Nekhmel	MNH:MO	MNT	2,850	-5	-0.18%	2,850	2,850	2,850	1	4-Nov	119.23%	185.00%
	Hotel Mongolia	MSH:MO	MNT	799	33	4.31%	799	799	799	1,000	4-Nov		70.00%
	Darkhan Nekhii	NEH:MO	MNT	6,004	0	0.00%	6,003	6,004	6,003	0	3-Nov	22.53%	87.63%
	Nak Tulsh	NKT:MO	MNT	217	22	11.28%	217	217	217	1,000	4-Nov	-33.23%
	Olloo	OLL:MO	MNT	110	0	0.00%	110	110	110	0	2-Nov	-26.67%	-37.14%
	Remikon	RMC:MO	MNT	150	2	1.35%	150	150	148	147,620	4-Nov	108.33%	92.31%
	Sharyn Gol	SHG:MO	MNT	13,000	0	0.00%	12,998	13,001	12,998	9,602	4-Nov	23.81%	18.18%
	Shivee Ovoo	SHV:MO	MNT	23,850	0	0.00%	23,850	23,850	23,850	49	4-Nov	83.46%	72.83%
	Sor	SOR:MO	MNT	1,250	0	0.00%	1,200	1,250	1,200	0	3-Nov	66.67%	35.14%
	Suu	SUU:MO	MNT	70,000	0	0.00%	70,000	70,000	70,000	0	31-Oct	233.54%	407.25%
	Tav	TAV:MO	MNT	20,000	0	0.00%	20,000	20,000	20,000	0	28-Oct
	Talkh Chikher	TCK:MO	MNT	10,000	399	4.16%	10,000	10,000	10,000	367	4-Nov	170.27%	194.12%
	Tavantolgoi	TTL:MO	MNT	11,301	300	2.73%	11,200	11,301	11,200	2,761	4-Nov	96.20%	140.45%
	State Dept Store	UID:MO	MNT	440	0	0.00%	440	440	435	1,119	4-Nov	2.33%	2.33%
	Ulaanbaatar Hotel	ULN:MO	MNT	57,000	-2000	-3.39%	57,000	57,000	57,000	10	4-Nov	107.27%	107.27%
	Mongol Savkhi	UYN:MO	MNT	1,999	200	11.12%	1,800	1,999	1,800	132	4-Nov	263.46%	277.17%
	Zoos Goyol	ZOO:MO	MNT	850	0	0.00%	850	850	850	995	4-Nov	7.59%	14.09%
HKEx	Solartech Int’l	1166:HK	HKD	0.219	0.004	1.86%	0.223	0.225	0.215	10,901,600	4-Nov	-77.19%	-79.34%
	Winsway	1733:HK	HKD	2.7	0.12	4.65%	2.69	2.71	2.62	13,015,000	4-Nov	-39.92%	-23.55%
	SouthGobi Resources	1878:HK	HKD	62.35	2.35	3.92%	62.2	62.5	61.55	21,900	4-Nov	-37.34%	-30.18%
	China Gold	2099:HK	HKD	24.65	1.3	5.57%	24.45	25	24.45	118,300	4-Nov	-41.31%
	CNNC Int’l	2302:HK	HKD	2.23	0.05	2.29%	2.3	2.3	2.15	1,430,000	4-Nov	-74.37%	-69.11%
	Real Gold Mining	246:HK	HKD	8.81	0	0.00%	8.81	8.81	8.81	0	4-Nov	-34.28%	-41.07%
	Mongolia Energy	276:HK	HKD	0.75	0.01	1.35%	0.77	0.79	0.74	24,159,650	4-Nov	-67.67%	-75.57%
	Zijin Mining	2899:HK	HKD	3.55	0.21	6.29%	3.47	3.6	3.44	42,618,584	4-Nov	-24.74%	-31.57%
	Mongolia Inv Group	402:HK	HKD	0.051	0.001	2.00%	0.058	0.058	0.049	7,432,000	4-Nov	-65.54%	-73.85%
	North Asia Resources	61:HK	HKD	0.42	0.03	7.69%	0.39	0.42	0.39	311,600	4-Nov	-53.85%	-69.78%
	China Daye Non-Fer.	661:HK	HKD	0.43	0.01	2.38%	0.42	0.43	0.42	1,586,000	4-Nov	-23.21%	-11.34%
	Bestway Int’l	718:HK	HKD	0.049	0.004	8.89%	0.045	0.05	0.045	250,000	4-Nov	-65.25%	-73.22%
	Asia Coal	835:HK	HKD	0.145	0.009	6.62%	0.145	0.145	0.145	50,000	4-Nov	-42.00%	-43.14%
	Mongolian Mining	975:HK	HKD	6.75	0.09	1.35%	6.95	6.95	6.71	652,500	4-Nov	-25.58%	-18.77%
SGX	LionGold	LIGO:SP	SGD	0.865	0	0.00%	0.87	0.87	0.865	7,089,000	4-Nov	18.49%	98.85%
LSE	Central Asia Metals	CAML:LN	GBp	68.25	0	0.00%	68.25	68.25	68.25	6,000	4-Nov	-24.38%	-25.41%
	Petro Matad	MATD:LN	GBp	18.875	-2.625	-12.21%	21.5	21.625	18.25	746,821	4-Nov	-84.53%	-82.88%
	Metal-Tech	MTT:LN	GBp	5	0	0.00%	5	5	5	0	4-Nov	-67.74%	-69.70%
	Origo Partners	OPP:LN	GBp	33.5	0	0.00%	33.5	33.5	33.5	23,800	4-Nov	-18.29%	-14.10%
North America	Aberdeen Int’l	AAB:CN	CAD	0.67	-0.03	-4.29%	0.69	0.69	0.66	81,000	4-Nov	-17.14%	18.57%
	Blue Zen Mem. Parks	BZM:CN	CAD	0.16	0	0.00%	0.155	0.165	0.155	0	3-Nov
	Centerra Gold	CG:CN	CAD	21.03	0.01	0.05%	21.55	21.55	20.91	305,090	4-Nov	8.27%	13.83%
	China Gold	CGG:CN	CAD	3.27	0	0.00%	3.11	3.3	3.11	107,681	4-Nov	-39.78%	-41.40%
	Denison Mines	DML:CN	CAD	1.55	0	0.00%	1.59	1.6	1.52	1,826,005	4-Nov	-54.55%	-37.75%
	Denison Mines	DNN:US	USD	1.52	-0.02	-1.30%	1.53	1.57	1.49	687,719	4-Nov	-55.56%	-39.44%
	East Asia Minerals	EAS:CN	CAD	1.18	0.28	31.11%	0.92	1.18	0.91	2,395,370	4-Nov	-85.32%	-84.05%
	Entree Gold	EGI:US	USD	1.87	-0.04	-2.09%	1.86	1.89	1.83	15,583	4-Nov	-45.95%	-31.50%
	Erdene Resource	ERD:CN	CAD	0.46	-0.03	-6.12%	0.47	0.47	0.46	31,100	4-Nov	-62.90%	-25.81%
	Entree Gold	ETG:CN	CAD	1.93	0	0.00%	1.9	1.93	1.88	38,000	4-Nov	-44.38%	-29.30%
	Fortress Minerals	FST:CN	CAD	4.8	0	0.00%	4.8	4.8	4.8	0	1-Nov	10.34%	41.18%
	Garrison Int’l	GAU:CN	CAD	0.03	0	0.00%	0.03	0.03	0.03	0	17-Oct	-66.67%	-40.00%
	Gulfside Minerals	GMG:CN	CAD	0.085	0	0.00%	0.085	0.085	0.085	0	3-Nov	-10.53%	-26.09%
	Green Tech Solutions	GTSO:US	USD	0.105	-0.005	-4.55%	0.11	0.12	0.1	203,675	4-Nov		-97.38%
	Ivanhoe Energy	IE:CN	CAD	1.24	-0.03	-2.36%	1.26	1.27	1.22	143,529	4-Nov	-54.41%	-54.24%
	Ivanhoe Energy	IVAN:US	USD	1.23	-0.01	-0.81%	1.24	1.25	1.2	292,750	4-Nov	-54.78%	-54.78%
	Ivanhoe Mines	IVN:CN	CAD	22.82	0.99	4.54%	21.75	22.82	21.44	2,118,941	4-Nov	-0.78%	-8.77%
	Ivanhoe Mines	IVN:US	USD	22.38	0.73	3.37%	21.37	22.43	21.05	2,595,740	4-Nov	-2.36%	-10.41%
	Kincora Copper	KCC:CN	CAD	0.35	0.03	9.38%	0.305	0.35	0.3	55,649	4-Nov	29.63%	191.67%
	Khan Resources	KRI:CN	CAD	0.24	0	0.00%	0.25	0.255	0.24	27,140	4-Nov	-50.00%	-40.74%
	Long Harbour	LHC:CN	CAD	0.12	0	0.00%	0.125	0.125	0.12	0	27-Oct		14.29%
	Lucky Strike	LKY:CN	CAD	0.65	0	0.00%	0.65	0.65	0.65	10,000	4-Nov	-55.17%	91.18%
	Lucky Strike	LKYSF:US	USD	0.6817	0	0.00%	0.6815	0.6817	0.6815	0	24-Oct	-51.95%
	Meritus Minerals	MER:CN	CAD	0.05	0.005	11.11%	0.05	0.05	0.05	31,500	4-Nov	-75.00%	-86.30%
	Manas Petroleum	MNAP:US	USD	0.2	0.015	8.11%	0.18	0.2	0.18	28,650	4-Nov	-66.67%	-62.96%
	Mongolia Growth Grp	MNGGF:US	USD	4.35	-0.0695	-1.57%	4.382	4.3845	4.0872	27,400	4-Nov
	Blue Wolf Mongolia	MNGL:US	USD	9.51	-0.07	-0.73%	9.51	9.51	9.51	105,000	4-Nov
	Blue Wolf Mongolia	MNGLU:US	USD	10.27	0	0.00%	10.15	10.27	10.15	0	3-Nov
	Manas Petroleum	MNP:CN	CAD	0.155	0	0.00%	0.155	0.155	0.155	0	25-Oct
	Prophecy Coal	PCY:CN	CAD	0.53	-0.01	-1.85%	0.54	0.55	0.51	534,771	4-Nov	-38.70%	-23.38%
	Prophecy Coal	PRPCF:US	USD	0.5155	-0.023	-4.27%	0.5245	0.5245	0.5155	7,691	4-Nov	-41.55%	-24.79%
	Puget Ventures	PVS:CN	CAD	0.49	0	0.00%				0	17-Sep
	SouthGobi Resources	SGQ:CN	CAD	7.9	-0.13	-1.62%	8.11	8.2	7.79	80,426	4-Nov	-35.14%	-31.42%
	Solomon Resources	SRB:CN	CAD	0.08	0	0.00%	0.08	0.08	0.08	4,350	4-Nov	-62.79%	-75.76%
	Wedge Energy	WEG:CN	CAD	0.015	0	0.00%				0	3-Aug
	Mongolia Growth Grp	YAK:CN	CAD	4.41	0.01	0.23%	4.45	4.45	4.18	30,325	4-Nov

 

---

"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.