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CORRECTED FROM SOURCE: Entree Discovers New High Grade Gold Zone at Shivee West, Mongolia
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2012) - The following corrects and replaces the release sent today at 4:11 pm ET. In the table, the figure 769 was changed to 69.
Entrée Gold Inc. (TSX:ETG)(NYSE Amex:EGI)(FRANKFURT:EKA) ("Entrée" or the "Company") has received final results from the recently completed work program on its 100%-owned Shivee West project in Mongolia. Work was conducted over the Zone III near-surface epithermal gold target and expanded north, where a new gold zone ("Argo Zone") was discovered 250 metres beyond the previously known area of gold mineralization (see news release dated December 14, 2011). Significant results at the Argo Zone included two separate high-grade chip samples averaging 42.4 grams/tonne gold ("g/t Au") over 4 metres and 19.3 g/t Au over 3 metres (see map on www.entreegold.com).
Greg Crowe, President and CEO of Entrée, commented, "This program yielded some very high grades in a new area of mineralization now called the Argo Zone. Both Zone III and Argo lie within a well-defined, northerly-trending magnetic-low, which extends for at least 2.5 kilometres along strike. Potential for additional gold targets is excellent and we are planning further exploration in 2012."
The 2011 work program targeted near-surface epithermal gold mineralization and included 23 vertical holes (2,470 metres) of reverse circulation ("RC") drilling, 1,120 linear metres of excavator trenching and surface sampling over an area of 200 metres x 600 metres. The area tested now appears to comprise two distinct zones of shallow gold mineralization (Zone III and Argo) hosted by quartz veined felsic volcanic rocks located approximately 300 metres apart.
The Argo Zone has been partly defined by six new RC holes (holes EGRC-11-110 to 115), two trenches and surface chip sampling. Hole EGRC-11-112 returned 14 metres of 1.82 g/t Au and hole 11-111 returned 3 metres of 2.21 g/t Au (see table of results below). The two very high-grade chip samples were taken to evaluate a quartz stockwork in dacitic volcanic rocks 50 metres southeast of the nearest 2011 RC drill hole. The mineralization remains open in several directions.
Trench sampling in 2011 on Zone III returned 0.69 g/t Au over 6 metres and a separate interval of 1.44 g/t Au over 6 metres. Previously, trench and outcrop sampling returned gold values of up to 0.51 g/t over 22 metres and 1.39 g/t over 18 metres. Numerous grab samples of siliceous material in the Zone III area have returned between 0.2 g/t and 29.2 g/t Au. Best results from recent RC drilling are from hole EGRC-11-123, located near the centre of Zone III, which returned 8 metres of 2.08 g/t Au.
Planning is underway for additional drilling and surface work commencing in Q2 2012 to better define gold mineralization in both Zone III and the Argo Zone.
Table 1. Significant gold results - Zone III and Argo RC Holes
HOLE | FROM | TO | INTERVAL | Au | COMMENT |
EGRC-11-109* | 63 | 67 | 4 | 0.27 | Argo Zone |
EGRC-11-110* | 34 | 40 | 6 | 0.36 | Argo Zone |
EGRC-11-111* | 67 | 70 | 3 | 2.21 | Argo Zone; Ended in mineralization |
EGRC-11-112* | 46 | 51 | 5 | 0.91 | Argo Zone |
including | 47 | 48 | 1 | 3.35 | |
and | 63 | 77 | 14 | 1.82 | |
including | 73 | 75 | 2 | 9.32 | |
EGRC-11-114 | 17 | 20 | 3 | 0.76 | Argo Zone; Ended in 0.18 g/t Au over 6 m |
EGRC-11-119 | 66 | 71 | 5 | 0.36 | Zone III |
EGRC-11-121 | 65 | 67 | 2 | 0.74 | Zone III |
EGRC-11-123 | 67 | 75 | 8 | 2.08 | Zone III; First sample is 9.34 g/t Au over 1 m |
including | 67 | 69 | 2 | 5.60 | |
*Announced in December 14, 2011 news release. | |||||
China Construction Bank Increases Stake in NAR
January 11 (Mogi) Corporate Substantial Shareholder Notice dating 10 January states China Construction Bank, through subsidiaries, bought 682,264,958 shares off-market in North Asia Resources Holdings Limited (HK:61) at an average price of HK$0.27 in cash, which, according to the notice, is equal to 138.19% of the total shares issued, increasing from 78.23%.
Xanadu Chairman Interest Increased by 100T Shares
January 11 (Mogi) Change of Director's Interest Notice dating 11 January reveals Xanadu Mines Limited (ASX:XAM) Executive Chairman Brian Thornton's indirect interest in the company increased on 11 January by 100,000 shares via an on-market purchase for a total consideration of A$32,000.
Mongolian gov't to put reserve meat into markets to curb soaring price
ULAN BATOR, Jan. 10 (Xinhua) -- The Mongolian government will put thousands of tons of reserve meat into markets in an effort to curb soaring prices, the Ministry of Food, Agriculture and Light Industry said Monday.
According to a plan announced by the ministry, the government will sell 12,000 tons of reserve meat at much lower prices in some 310 markets in the capital.
Meat prices have been rising this winter. Beef prices have reached 7,000 tugriks (about 4.9 U.S. dollars) a kilogram, an increase of 3,000 (about 2.1 U.S. dollars) to 4,000 tugriks (about 2.8 U.S. dollars).
However, a kilogram of reserve beef sells at 3,500 tugriks (about 2.5 U.S. dollars), half of the market price.
Food, Agriculture and Light Industry Minister T. Badamjunai told local media that Mongolia's animal husbandry sector was expected to have a good harvest this year. As a result, he said, meat prices will gradually drop to a stable level.
PM quizzes officials about rising prices
January 10 (news.mn) On Monday, Prime Minister S.Batbold questioned Mineral Resources and Petroleum Authority (MRPA) Chairman D.Amarsaikhan and Food, Agriculture and Light Industry Minister T.Badamjunai about rising fuel and meat prices.
D.Amarsaikhan said petroleum importers have raised gasoline prices because of the falling value of the tugrik against the U.S. dollar. He said gasoline prices had not increased sooner because the Government had lowered a fuel excise tax.
A report prepared by a working group headed by Deputy Mineral Resources and Energy Minister B.Ariunsan said the tugrik rate was MNT 1,345 to one U.S. dollar in December, but it fell to MNT 1,480 last Friday. That is why the companies proposed raising gas prices from MNT 230 per liter to MNT 260 per liter. Company officials and the working group headed by B.Ariunsan discussed the proposed hike and determined it was acceptable.
S.Batbold asked if the working group did research on the increase, and if it took into account the cost of transporting fuel.
D.Amarsaikhan replied that each petroleum importer calculates its prices based on its costs and on competitiveness. He added that the MRPA is looking into the matter.
Food, Agriculture and Light Industry Minister T.Badamjunai reported that the ministry has reserved 16,300 tons of meat since November 2011. He said meat prices are increasing due to the rising costs of livestock and fuel. He said reserve meat will be sold beginning January 15, and meat processors have been asked to limit exports.
Two working groups were established on Monday to monitor gasoline prices and the sale of meat from the state reserve. The former will he headed by Z.Batbayar, the latter by B.Darinchuluun, both of the Cabinet Secretariat's Inspection and Research Department. The groups were to report their findings to Prime Minister S.Batbold on Tuesday.
What will DP National Consultative Committee decide?
January 10 (news.mn) The DP's National Consultative Committee (NCC) will hold a meeting on Wednesday to decide whether the party will pull out of the coalition government.
Last week, DP Chairman N.Altankhuyag announced that the party was leaving the coalition, but the move must be ratified by the NCC.
Some members of the DP oppose leaving the coalition. Some also question the timing of N.Altankhuyag's announcement, since the NCC is also likely to discuss his possible resignation. Even if N.Altankhuyag is not forced to resign, sources say the NCC will likely discuss his responsibilities at the meeting on Wednesday.
UNDP AND UNFPA PROGRAMME ACTION PLANS FOR MONGOLIA SIGNED
Ulaanbaatar, Mongolia, January 10 /MONTSAME/ In a joint ceremony on Tuesday, the United Nations Development Programme (UNDP) and the United Nations Population Fund (UNFPA) signed their 2012-2016 Country Programme Action Plans (CPAPs) with the Government of Mongolia.
The CPAPs were developed in close collaboration with (UNDP and UNFPA's respective) partners in the government and the civil society and describe planned cooperation results and activities in support of the Government's National Development Strategy and the achievement of the Millennium Development Goals. Both CPAPs are based on the principles of national ownership, capacity development, gender equality, human rights based approaches and results based programming. Focus on vulnerable groups such as women, youth and the disabled are priorities in the new programme cycle.
Signing on behalf of the Government, G. Zandanshatar, the Mongolia's Minister of Foreign Affairs stated that "I am confident that the Country Programme Action Plans for 2012-2016 between the Government of Mongolia and United Nations Development Programme and United Nations Population Fund will fully achieve its set goals. Taking this opportunity I would like to assure the Mongolian Government's full support and close cooperation with the United Nations towards successfully implementing these actions plans".
In the signing ceremony, Ms. Sezin Sinanoglu, UNDP Resident Representative, expressed UNDP's commitment to working with the Government and people of Mongolia in accelerating progress to achieve the Millennium Development Goals and in translating economic growth to tangible and sustainable benefits for all Mongolian people.
The UNDP Country Programme Action Plan is organized around three thematic areas poverty reduction and achievement of MDGs; democratic governance; and environment and sustainable development with a resource base of USD 28 million for 2012-2016.
Ms. Argentina Matavel Piccin, UNFPA Representative, noted, "As Mongolia becomes a middle income country, many donors have closed their grant support doors. Not so for the UN, who see a new opportunity to make Mongolian economic growth really work for the people." She recommitted UNFPA's support to the full implementation of the International Conference on Population Plan of Action (ICPD PoA) in Mongolia.
The UNFPA Country Programme Action Plan has three main outcomes, Population and Development; Sexual and Reproductive Health; Gender Equality and Women's Empowerment with a financial portfolio of USD 14 million for 2012-2016. The programme will focus on aimags lagging behind on maternal/newborn and STI indicators.
Hatch Africa's outlook for the global coking coal market
January 10 (MineWeb) 05 December, 2011: Consulting engineering and project management company Hatch Africa's Director for Coal, Gerrit Lok, recently presented an analysis of global coking coal demand and supply trends at an international conference in Mozambique.
Hatch, in conjunction with various other consultants, completed a forecast into the global demand and supply of coking coal, and determined that there will be an additional demand of 115-million tonnes per annum (Mtpa) of coking coal by 2015.
The global crude steel industry has been growing at a Compound Annual Growth Rate (CAGR) of 5.2% primarily due to an increase in demand from China and India. Almost all crude steel in the world is produced through either blast furnace or basic oxygen furnace technologies. The blast furnace technology, being the primary consumer of coking coal, has become the preferred method of crude steel production as can be illustrated by the fact that its preferential share in the market grew from 58% to 73% between the period of 2000 and 2010.
"As a key ingredient in the production of crude steel from blast furnaces, global coking coal production has grown by 5,5%; while coking coal consumption has over the same period, increased by 5,1%. Considering this, the overall production of coking coal is marginally over what is required to sustain the forecasted demand," explains Lok. These statistics refers to the period 1985 to 2010.
Strong demand
It is forecasted that demand for coking coal will be driven mainly by China and India, while supply will still depend on coking coal from Australia and North America.
"Indian coking coal imports are expected to increase to 43-million tonnes by 2015, from levels of 30-million tonnes in 2010 as a result of its increase in crude steel production. It is expected that crude steel production in India will grow at a CAGR of 8.1% resulting in the associated coking coal import demand growing at a CAGR of 7.5% between 2009 and 2015" explains Lok.
Chinese coking coal imports are expected to increase, but this will depend on crude steel production, domestic coking coal production and production costs. "Chinese crude steel production has grown at a CAGR of 14,9% from 151,6-million tonnes in 2001 to 607,6-million tonnes in 2010; this growth is tremendous. However, it is expected that the intensity of crude steel production in China has peaked and that steel consumption will increase at an average of 3% between 2010 and 2015," explains Lok.
Nevertheless, Lok believes that globally, long-term growth in crude steel production looks promising. "With an additional 300-million tonnes of crude steel being produced per annum by 2015, there will certainly be an increase in the demand for coking coal. This increase in demand ultimately leads to the question of supply," explains Lok.
A deficit in supply?
It has been forecasted that there will be a deficit of coking coal from 2015 onwards and that supply of coking coal will still depend on exports from Australia with further export opportunities from Mozambique, Indonesia, Mongolia, Russia and North America.
"The seaborne export of coking coal will still depend on Australia. Despite Australia already being the biggest exporter of seaborne coking coal with 64% of world exports; it is expected that Australian exports of coking coal will increase further to 192 Mt by 2015," Lok points out.
Lok further adds that there is the possibility of an increase in export levels from the USA, considering the high cash cost of its mines, which could ultimately provide an incentive for the country's mines to bring additional supply to seaborne markets due to the high spot price of coking coal.
Apart from Australia and the USA; Mozambique, Mongolia and Indonesia will bring an additional supply of coking coal to the market in the long-term.
Mozambique, in particular, has ambitious plans to export more than 100-Mtpa, but the country's infrastructural bottlenecks remain a problem in achieving this target. "There is a disconnection between the pace of mine development and that of the infrastructure needed to transport the coking coal and export it. As a result, Mozambique remains a long term solution to the tight coking market, with a likely potential of exporting 12 Mtpa of coking coal by 2015" explains Lok.
Mongolia has the potential to export 15-Mtpa of coking coal in the near future but large-scale investment is needed to develop the country's Tavan Tolgoi deposit and railway links. "The Tavan Tolgoi deposit is one of the world's largest undeveloped coking coal deposit with an estimated reserve of 2,6-billion tonnes" Lok explains.
The annual output, which could reach up to 50-Mtpa, would mainly be targeted at the Chinese market as Tavan Tolgoi's hard coking coal is in great demand in China. Lok points out that the deposit's export potential will ultimately be determined by the rail links to China.
"According to a World Bank report, Tavan Tolgoi's output would be sufficient to justify building a railway into China. The cheapest route to export coal would be via the Chinese port of Huanghua via Baotou for approximately $56.5 per tonne; while exporting via the Russian port of Vostochnoy would cost about $125 per tonne. Regardless of the routing, exports from Tavan Tolgoi will displace some of the Australian exports to China," explains Lok.
Looking at Russia, the country has the potential to export coking coal from its Elga basin, but investment is needed in port infrastructure. Based on annual expansion plans by various companies, the country's Pechora, Kuzbass and South Yakutsk basins hold the potential of exporting 24-Mtpa.
Looking ahead, Lok says that long-term coking coal demand remains positive with premium coking coal prices still being the order of the day. There might however be some short term over or under supply conditions mainly as a result of interim global economic uncertainties. The fundamentals of global population growth driving consumption, the renewal of old infrastructure in developed countries and the establishment of new infrastructure in developing countries is still intact and will drive the long-term demand for crude steel.
Mongolia's Quest to Balance Human Development in its Booming Mineral-Based Economy
January 10 (The Brookings Institution) Mongolia―long ignored by Asia specialists as a sleepy nomadic ex-Soviet satellite―finally burst onto the world economic scene in 2011 when exploitation of its vast mineral deposits led it to a 6.7 percent economic growth rate that was 2nd highest in the world. During the fourth quarter of last year the economy was booming at a growth rate of close to 20 percent. Both the Asian Development Bank and the Economist Intelligence Unit are predicting a 2012 growth rate of 15 percent, and other forecasters contend that if Mongolia's informal economy is taken into account the growth rate could approach 40 percent. Mining experts estimate that the country possesses as much as $1 trillion worth of untapped precious metals and minerals in at least 6000 sites. That works out to potentially over $333,333 per every man, woman and child in the country.[1] While this is undeniably a positive situation for Mongolia, the challenge facing the nation is to ensure that its mineral wealth benefits the whole nation rather than just certain sectors of society, as has been the case in some other resource-rich countries.
After wrenching economic difficulties in the 1990s caused by the collapse of its Soviet-inspired command socialist system, the Mongolian economy has grown by an average 7 percent a year since 2003. Foreign direct investment (FDI) has soared with the long-delayed but now operational large-scale western mining joint venture, the $4 billion Oyu Tolgoi (OT) copper and gold operation, now under development by Ivanhoe of Canada and multinational giant Rio Tinto. OT may hold as much as 32 million tons of copper and 1,200 tons of gold, according to government estimates. Annual output when the mines are developed is predicted to exceed 450,000 tons of copper and 330,000 ounces of gold. Per capita GDP in Mongolia has more than tripled to $2,200 in 2010 from $638 in 2004. Haruhiko Kuroda, president of the Asian Development Bank (ADB), has proclaimed that Mongolia is at "the threshold of prosperity," while advising that further efforts must be made to make economic growth more inclusive to ensure that the benefits from high economic growth are distributed more broadly, and that people have equal access to opportunities and basic social services.[2]
In 2008 Mongolia's Parliament [Great Khural] passed a National Development Strategy and created a Human Development Fund (HD Fund) with the ambitious goal of bringing Mongolia's human development status to the same level as that of the developed countries by 2020. (The country has been ranked with a value of only 100th out of 169 countries by the United Nations Development Programme's (UNDP's) Global Human Development Report.[3]) This Fund made it legally possible for every citizen of Mongolia, for the first time in its history, to be equally eligible to own a share of the nation's mineral wealth. In preparation for the establishment of the Fund, Mongolian economists looked at the $40 billion Alaska Permanent Fund, Norway's sovereign wealth fund worth $410 billion, and Chile's use of its copper resources to help drive growth. They also considered Canada and Australia as models for distribution of mineral revenues to alleviate poverty and avoid the so-called Dutch Disease, a curse afflicting some resource-rich societies.[4]
To avoid this destabilizing effect, in July 2009 the Mongolian Parliament passed a law, based on a similar Chilean act, that creates a mechanism for saving surplus revenue from mineral royalties when prices are high in order to stabilize the annual state budget when prices (and therefore mineral revenues) fall―as happened in 2008.[5] The state budget each year sets a certain amount of money to be drawn from the HD Fund in anticipation of revenues to be earned; this draw is stated as an actual amount of Mongolian National Tugriks (MNT, the Mongolian currency), not as a percentage of the Fund' value. The state budget must pay out the specified number of tugriks, regardless of whether the Fund has earned the money anticipated. The 2009 legislation is a way to keep the Government in compliance with the Parliament-approved annual budget while at the same allowing the flexibility to react to actual Fund earnings.
Initial capital for the HD Fund was drawn from the OT mine project, which is estimated will account for 30 percent of Mongolia's GDP when completed and will generate $30 billion in tax revenue over 50 years.[6] Additional revenues for the HD Fund will be coming from development of Mongolia's $2 billion Tavan Tolgoi (TT) coal deposit, the largest in the world. The country also has very rich uranium and rare earth mineral resources waiting to be exploited. The HD Fund's other sources include income from sale of shares and dividends of state property connected with state-owned mineral deposits (because they were designated by law as large deposits of national strategic significance); fees for exploration and processing activities in these mining sites; advance payments and loans related to the exploitation of the strategic mining sites; and income from bonds, loan certificates, and savings interest from international and domestic financial markets for the Fund.
The HD Fund is expected to provide pension, health, housing, and educational benefits as well as cash payouts to all citizens, and thus be a mechanism to distribute the wealth obtained from Mongolia's minerals equitably among the populace. The Parliament in 2011 stipulated that MNT805 billion (roughly US$567 million) from the Fund should be distributed to all citizens for health insurance and to students for tuition fees,[7] with MNT21,000 (about US$15) per citizen for cash payouts. Although the per capita amount is small, the amount distributed in 2010 was 16 percent of the state budget�and in 2011 almost 40 percent. Both the IMF and World Bank have criticized the 2011 allocation as too expansionary, and a cause of the high 14 percent inflation rate.[8] Most of these payout monies were in cash,[9] which is opposed by 87 percent of the people who preferred the benefits be in cashless form.[10]
Originally, the HD Fund's resources were to be applied for investment and capital repairs, to reduce the budget deficit, and for social welfare systems.[11] However, its use has become embroiled in Mongolia's volatile election politics. In the 2009 presidential election, the two main parties, the Democratic Party and the Mongolian People's Revolutionary Party (now renamed the Mongolian People's Party), pledged to distribute as much as $6 billion, or up to 1.5 million tugriks (US$1,060) for every citizen, from the country's mining wealth. However, because of a sizable shortfall in actual revenues as opposed to anticipated revenues, the Parliament at the end of 2009 authorized only the distribution of MNT120,000 (approximately US$92) as a cash grant for each citizen of Mongolia. In the just-approved state budget for 2012, HD funds are to be distributed in July 2012, which is around the time of Mongolia's parliamentary elections, so many observers believe the distribution plans are once again most likely exaggerated campaign promises designed to attract votes.
Mongolia's Prime Minister, Sukhbaataryn Batbold, wrote in 2011 that "human development is at the center of government policy and we are taking all efforts to achieve this goal. Yet, Mongolia faces many challenges…such as unemployment, poverty and inequality are coupled with environmental problems such as climate change, pasture degradation, natural disasters, droughts, dzuds, water and forest resource depletion, air and soil pollution."[12] He and other Mongolian leaders emphasized that although economic growth is considered essential for the wellbeing of the people, the human costs of the growth are of serious concern for the nomadic pastoral society and contribute to a sense of vulnerability. Therefore, the government is committed to promoting human development as a central strategy for achieving economic sustainability.
Mongol herders, although accustomed to an extreme climate, periodically suffer under dzud (harsh winter drought) which can decimate the nation's 40 million head of livestock herds and make the nation vulnerable to food insecurity. National leaders increasingly are concerned by climate changes which affect the delicate ecosystems of the countryside's inhabitants (over 40 percent of the total population of 2.8 million) who depend upon a traditional pastoralism based upon herding sheep, goats, cattle/yak, horses and camels; degrade the grasslands;[13] and pollute the country's very limited water resources. Such factors negatively influence the local population's view of mining and agricultural development.
As of 2008, an estimated 35 percent of the population was still living below the official poverty line. Inequality remains high both within cities and between those living in urban areas and those in the countryside. Although poverty assessment studies may be exaggerating rural poor versus urban poor, there is no doubt that the poor lack access to clean energy and heating sources, clean water and sanitation, and educational and healthcare facilities. The government, in consultation with international organizations and the United Nations, aims to utilize budget resources from FDI-generated taxes pouring into the HD Fund to reduce the nation's carbon and ecological footprints by 20 percent within five years and significantly reduce the high air pollution that engulfs the nearly one-half of the national population that lives in the Ulaanbaatar capital area.
In light of these challenges, discussion of how to distribute the HD Funds has been a hot topic in Mongolia for years. All stakeholders, including the countryside and urban poor, have actively expressed their opinions via workshops, community groups, environmental protests, and in the vibrant Mongolian press. While it is clear that in the 20 years of the democratic era Mongolia has made much economic progress, income inequality, unemployment, and a failure to measurably reduce the poverty rate have incited much public criticism and compelled the UNDP to call for greater promotion of human development at the national policy level, protection of human rights, and greater transparency and accountability in use of HD Fund monies. Another major aspect to the whole discussion is centered around how poverty in Mongolia's traditional pastoral society should be measured and compared to the previous socialist era. However, there is a national consensus that the government should utilize mining revenues to focus on improving access to basic services and housing conditions, reducing inequality in life expectancy and material standards of living, and maintaining environmentally sustainable income flows to transform mineral wealth into renewable assets for sustainable and broad-based growth to meet Mongolia's most significant development challenges.
The World Bank has warned that although so far Mongolia has managed well the global economic downturn, it must devise management skills to reduce the impact of cyclical mineral prices on Mongolia's increasingly mineral-based economy, use fiscal rules to manage monetary policy and the exchange rate, develop and maintain a competitive and stable regime for the mining and private sectors, and encourage economic diversification in its herding and tourism sectors to sustain balanced growth.[14] But it appears that Mongolia's present policies are being well received by some of the international community: on December 19, 2011 Standard & Poor upgraded its outlook on Mongolia to positive, citing that Mongolia had introduced a fiscal responsibility law to limit budget deficits to 2 percent of GDP from 2012. In the upcoming 2012 parliamentary election season in Mongolia, it is certain that widespread debate will continue on the HD Fund and its use in Mongolia to ensure that the wealth flowing in from rapid development of national mineral resources benefits all Mongolian citizens. If the electorate is not generally satisfied with the government's overall mineral development policy and plans for utilization of the HD Fund, it is highly likely that this coming spring will see a renewal of the nearly annual street protest demonstrations in the capital which were particularly violent in 2008.
Mongolia is blessed with this wonderful revenue stream, and at least some of its leaders have long-term ideas for how to use it (a reserve fund for re-investment in the mineral industry; improving the quality of life of the people; mitigating climate change and pollution). Two challenges will be constant. One is to insulate this revenue stream from corruption on the part of the various actors who have some degree of authority over it. The other is to protect it from the temptation of politicians to ignore some priorities (reinvestment and mitigation) in favor of more immediate but comparatively minor problems in an effort to win votes.
Table: Mongolia Related Stocks (Source: Bloomberg)
Name | Symbol | $ | Price | Change | +-% | Open | High | Low | Volume | Time | % YTD | % 12 m | |
Indices | ASX 200 | 4,152.24 | 46.84 | 1.14% | 4,114.20 | 4,154.30 | 4,105.40 | - | 10-Jan | ||||
Nikkei 225 | 8,422.26 | 31.91 | 0.38% | 8,422.99 | 8,450.59 | 8,405.18 | - | 10-Jan | |||||
Hang Seng | 19,004.28 | 138.56 | 0.73% | 18,948.12 | 19,086.53 | 18,858.57 | - | 10-Jan | |||||
MSE Top 20 | 20,496.40 | -121.00 | -0.59% | 20,496.40 | 20,496.40 | 20,496.40 | - | 10-Jan | |||||
FTSE 100 | 5,696.70 | 84.44 | 1.50% | 5,612.26 | 5,711.89 | 5,612.26 | - | 10-Jan | |||||
TSX Composite | 12,270.66 | 73.94 | 0.61% | 12,320.66 | 12,346.82 | 12,198.35 | - | 10-Jan | |||||
S&P 500 | 1,292.08 | 11.38 | 0.89% | 1,280.77 | 1,296.46 | 1,280.77 | - | 10-Jan | |||||
ASX | Aspire Mining | A$ | 0.35 | 0.015 | 4.48% | 0.34 | 0.36 | 0.34 | 1,504,221 | 10-Jan | -5.41% | -36.94% | |
Blina Minerals | A$ | 0.005 | 0.001 | 25.00% | 0.005 | 0.005 | 0.005 | 3,512,000 | 10-Jan | 0.00% | -70.59% | ||
Draig Resources | A$ | 0.445 | 0.01 | 2.30% | 0.445 | 0.45 | 0.44 | 317,884 | 10-Jan | -30.47% | |||
FeOre | A$ | 0.28 | 0 | 0.00% | 0.28 | 0.28 | 0.28 | 0 | 28-Dec | 0.00% | |||
General Mining | A$ | 0.044 | -0.004 | -8.33% | 0.044 | 0.044 | 0.044 | 85,000 | 10-Jan | 7.32% | -66.15% | ||
Guildford Coal | A$ | 0.72 | -0.025 | -3.36% | 0.745 | 0.745 | 0.71 | 28,851 | 10-Jan | -4.00% | -10.00% | ||
Haranga Resources | A$ | 0.31 | 0.02 | 6.90% | 0.3 | 0.32 | 0.3 | 59,533 | 10-Jan | 8.77% | -53.73% | ||
Hunnu Coal | A$ | ||||||||||||
Modun Resources | A$ | 0.042 | -0.004 | -8.70% | 0.043 | 0.043 | 0.041 | 291,894 | 10-Jan | -6.67% | 320.00% | ||
Mongolian Res Corp | A$ | 0.125 | 0 | 0.00% | 0.125 | 0.125 | 0.125 | 0 | 30-Dec | 0.00% | -62.12% | ||
Robe Australia | A$ | 0.019 | 0.001 | 5.56% | 0.018 | 0.019 | 0.017 | 4,321,200 | 10-Jan | 35.71% | 148.37% | ||
Voyager Resources | A$ | 0.076 | 0.005 | 7.04% | 0.071 | 0.077 | 0.071 | 11,917,719 | 10-Jan | 11.76% | 53.06% | ||
Xanadu Mines | A$ | 0.34 | 0.01 | 3.03% | 0.33 | 0.34 | 0.32 | 113,050 | 10-Jan | -1.45% | -41.38% | ||
MSE A Board | Aduunchuluun | MNT | 5,799 | -291 | -4.78% | 6,100 | 6,100 | 5,799 | 267 | 10-Jan | -3.35% | -46.80% | |
APU | MNT | 3,999 | 49 | 1.24% | 3,950 | 3,999 | 3,900 | 4,213 | 10-Jan | -4.79% | 73.87% | ||
Atar Urguu | MNT | ||||||||||||
Baganuur | MNT | 10,570 | -980 | -8.48% | 11,501 | 11,501 | 10,501 | 224 | 10-Jan | -19.31% | -3.90% | ||
Mogoin Gol | MNT | 32,499 | -301 | -0.92% | 32,000 | 32,499 | 32,000 | 108 | 10-Jan | 4.84% | 182.60% | ||
BDSec | MNT | 3,500 | 0 | 0.00% | 3,600 | 3,600 | 3,500 | 0 | 6-Jan | 0.00% | 40.00% | ||
Bayangol Hotel | MNT | 35,000 | -1000 | -2.78% | 35,000 | 35,000 | 35,000 | 67 | 10-Jan | -2.64% | 46.44% | ||
Bayanteeg | MNT | 36,000 | 0 | 0.00% | 36,000 | 36,000 | 36,000 | 0 | 30-Dec | 0.00% | 376.82% | ||
UB BUK | MNT | 32,500 | 0 | 0.00% | 32,500 | 32,500 | 32,500 | 0 | 30-Dec | 0.00% | 501.85% | ||
Eermel | MNT | 3,190 | 410 | 14.75% | 2,870 | 3,190 | 2,750 | 348 | 10-Jan | 13.93% | 13.93% | ||
Gobi | MNT | 5,050 | -50 | -0.98% | 5,100 | 5,100 | 5,050 | 472 | 10-Jan | -1.94% | -9.82% | ||
Gutal | MNT | 4,333 | 333 | 8.33% | 4,333 | 4,333 | 4,333 | 40 | 10-Jan | 402.67% | |||
Hi B Oil | MNT | 178 | -2 | -1.11% | 178 | 178 | 178 | 280 | 10-Jan | -6.32% | 4.71% | ||
Khukh Gan | MNT | 195 | 0 | 0.00% | 190 | 195 | 190 | 0 | 5-Jan | -2.50% | 4.28% | ||
Hermes Centre | MNT | 68 | 0 | 0.00% | 67 | 68 | 67 | 4,100 | 10-Jan | 21.43% | 25.93% | ||
Jenko Tour Bureau | MNT | 93 | -1 | -1.06% | 94 | 94 | 91 | 7,030 | 10-Jan | -1.06% | 3.33% | ||
Telecom Mongolia | MNT | 2,700 | 0 | 0.00% | 2,720 | 2,720 | 2,700 | 0 | 9-Jan | 0.00% | -26.63% | ||
Mongolia Dev Res | MNT | 950 | 0 | 0.00% | 950 | 950 | 950 | 1,110 | 10-Jan | -5.94% | -20.83% | ||
Moninjbar | MNT | 131 | 0 | 0.00% | 131 | 131 | 131 | 0 | 4-Jan | 0.77% | 13.91% | ||
Mongol Nekhmel | MNT | 3,800 | 300 | 8.57% | 3,900 | 3,900 | 3,000 | 208 | 10-Jan | 15.85% | 207.94% | ||
Hotel Mongolia | MNT | 800 | 0 | 0.00% | 800 | 800 | 800 | 0 | 6-Jan | -11.01% | 42.86% | ||
Darkhan Nekhii | MNT | 7,000 | 1 | 0.01% | 7,000 | 7,000 | 6,950 | 365 | 10-Jan | 12.90% | 40.00% | ||
Nak Tulsh | MNT | 180 | 0 | 0.00% | 180 | 180 | 180 | 20 | 10-Jan | 2.86% | -44.62% | ||
Olloo | MNT | 230 | 0 | 0.00% | 230 | 230 | 230 | 100 | 10-Jan | -3.77% | 53.33% | ||
Remikon | MNT | 174 | -1 | -0.57% | 175 | 175 | 172 | 42,584 | 10-Jan | -1.14% | 141.67% | ||
Sharyn Gol | MNT | 10,990 | -130 | -1.17% | 11,120 | 11,120 | 10,500 | 506 | 10-Jan | -3.17% | 1.75% | ||
Shivee Ovoo | MNT | 14,501 | 0 | 0.00% | 15,000 | 15,000 | 14,500 | 0 | 9-Jan | -5.22% | 16.00% | ||
Sor | MNT | 3,105 | -295 | -8.68% | 3,105 | 3,105 | 3,105 | 20 | 10-Jan | -18.72% | 260.21% | ||
Suu | MNT | 65,000 | -2 | 0.00% | 65,000 | 65,000 | 65,000 | 38 | 10-Jan | 0.00% | 0.00% | ||
Tav | MNT | ||||||||||||
Talkh Chikher | MNT | 10,501 | -799 | -7.07% | 11,300 | 11,300 | 10,501 | 33 | 10-Jan | 0.01% | 156.12% | ||
Tavantolgoi | MNT | 10,399 | -1 | -0.01% | 10,400 | 10,400 | 10,399 | 138 | 10-Jan | -5.46% | 75.96% | ||
State Dept Store | MNT | 520 | -43 | -7.64% | 530 | 533 | 510 | 3,506 | 10-Jan | -10.34% | 25.00% | ||
Ulaanbaatar Hotel | MNT | 45,000 | 0 | 0.00% | 46,000 | 46,000 | 45,000 | 0 | 30-Dec | 0.00% | 63.64% | ||
Mongol Savkhi | MNT | 2,615 | -375 | -12.54% | 2,750 | 2,750 | 2,615 | 77 | 10-Jan | 1.08% | 392.47% | ||
Zoos Goyol | MNT | 950 | 100 | 11.76% | 850 | 950 | 850 | 72 | 10-Jan | 1.06% | 18.75% | ||
HKEx | Solartech Int'l | HKD | 0.166 | -0.005 | -2.92% | 0.162 | 0.17 | 0.16 | 1,536,500 | 10-Jan | -6.21% | -81.14% | |
Winsway | HKD | 2.2 | 0.01 | 0.46% | 2.2 | 2.22 | 2.14 | 6,557,002 | 10-Jan | -3.93% | -51.05% | ||
SouthGobi Resources | HKD | 48.2 | 0.85 | 1.80% | 47.8 | 48.3 | 47.6 | 144,950 | 10-Jan | 5.82% | -52.65% | ||
China Gold | HKD | 21.1 | 0.7 | 3.43% | 20.6 | 21.25 | 20.6 | 161,900 | 10-Jan | 15.93% | -49.16% | ||
CNNC Int'l | HKD | 2.19 | 0.11 | 5.29% | 2.06 | 2.2 | 2.06 | 1,933,000 | 10-Jan | 8.42% | -69.79% | ||
Real Gold Mining | HKD | 8.81 | 0 | 0.00% | 8.81 | 8.81 | 8.81 | 0 | 10-Jan | 0.00% | -33.29% | ||
Mongolia Energy | HKD | 0.65 | -0.01 | -1.52% | 0.66 | 0.67 | 0.64 | 8,754,000 | 10-Jan | -7.14% | -73.36% | ||
Zijin Mining | HKD | 3.01 | 0.08 | 2.73% | 2.93 | 3.05 | 2.89 | 57,993,232 | 10-Jan | 3.08% | -32.74% | ||
Mongolia Inv Group | HKD | 0.046 | 0.001 | 2.22% | 0.046 | 0.047 | 0.046 | 1,506,000 | 10-Jan | 0.00% | -65.15% | ||
North Asia Resources | HKD | 0.234 | 0.007 | 3.08% | 0.225 | 0.234 | 0.223 | 387,000 | 10-Jan | 5.41% | -74.29% | ||
China Daye Non-Fer. | HKD | 0.43 | -0.005 | -1.15% | 0.435 | 0.44 | 0.42 | 3,772,000 | 10-Jan | -6.52% | -24.56% | ||
Bestway Int'l | HKD | 0.054 | 0.001 | 1.89% | 0.051 | 0.054 | 0.051 | 300,000 | 10-Jan | -11.48% | -61.15% | ||
Asia Coal | HKD | 0.09 | 0 | 0.00% | 0.089 | 0.09 | 0.089 | 300,000 | 10-Jan | -14.29% | -64.00% | ||
Mongolian Mining | HKD | 5.87 | -0.03 | -0.51% | 5.75 | 5.91 | 5.71 | 1,386,000 | 10-Jan | 0.51% | -41.88% | ||
SGX | LionGold | SGD | 0.875 | 0.005 | 0.57% | 0.87 | 0.88 | 0.87 | 10,885,000 | 10-Jan | 0.57% | 19.05% | |
LSE | Central Asia Metals | GBp | 57.75 | 0 | 0.00% | 57.75 | 57.75 | 57.75 | 0 | 10-Jan | 1.54% | -35.65% | |
Petro Matad | GBp | 36.75 | 0.5 | 1.38% | 36.75 | 37.25 | 36.75 | 316,540 | 10-Jan | 48.48% | -70.36% | ||
Metal-Tech | GBp | 4.25 | 0 | 0.00% | 4.25 | 4.25 | 4.25 | 0 | 10-Jan | 13.33% | -79.01% | ||
Nova Resources | GBp | 4 | 0.875 | 28.00% | 3.25 | 4 | 3.25 | 25,464 | 10-Jan | 68.42% | |||
Origo Partners | GBp | 34.75 | -0.25 | -0.71% | 35 | 35 | 34.75 | 0 | 10-Jan | -0.71% | -15.24% | ||
North America | Aberdeen Int'l | CAD | 0.59 | 0.01 | 1.72% | 0.59 | 0.59 | 0.56 | 321,482 | 10-Jan | -9.23% | -19.25% | |
Blue Zen Mem. Parks | CAD | 0.05 | 0 | 0.00% | 0.05 | 0.05 | 0.05 | 1,400 | 10-Jan | 0.00% | |||
Centerra Gold | CAD | 19.15 | 0.13 | 0.68% | 19.48 | 19.49 | 19.14 | 145,159 | 10-Jan | 6.39% | 5.22% | ||
China Gold | CAD | 2.87 | 0.08 | 2.87% | 2.85 | 2.95 | 2.8 | 315,764 | 10-Jan | 12.11% | -45.95% | ||
Desert Eagle Res | CAD | 0.27 | 0 | 0.00% | 0 | 5-Jan | -85.00% | ||||||
Denison Mines | CAD | 1.45 | 0.05 | 3.57% | 1.43 | 1.5 | 1.43 | 1,303,845 | 10-Jan | 14.17% | -52.30% | ||
Denison Mines | USD | 1.43 | 0.06 | 4.38% | 1.41 | 1.48 | 1.4099 | 789,935 | 10-Jan | 14.40% | -53.27% | ||
East Asia Minerals | CAD | 0.52 | 0 | 0.00% | 0.54 | 0.55 | 0.52 | 129,727 | 10-Jan | 10.64% | -92.54% | ||
Entree Gold | USD | 1.24 | 0.05 | 4.20% | 1.21 | 1.24 | 1.1801 | 47,300 | 10-Jan | 3.33% | -60.51% | ||
Erdene Resource | CAD | 0.348 | 0.008 | 2.35% | 0.35 | 0.35 | 0.34 | 104,480 | 10-Jan | -7.20% | -76.16% | ||
Entree Gold | CAD | 1.23 | 0.06 | 5.13% | 1.25 | 1.25 | 1.19 | 18,126 | 10-Jan | -0.81% | -60.58% | ||
Fortress Minerals | CAD | 4.05 | -0.05 | -1.22% | 4.05 | 4.05 | 4.05 | 500 | 10-Jan | -1.22% | -12.90% | ||
Gulfside Minerals | CAD | 0.105 | 0.01 | 10.53% | 0.105 | 0.105 | 0.095 | 48,000 | 10-Jan | 23.53% | 16.67% | ||
Green Tech Solutions | USD | 0.0294 | 0 | 0.00% | 0.0299 | 0.0299 | 0.024 | 0 | 9-Jan | ||||
Ivanhoe Energy | CAD | 1.16 | -0.02 | -1.69% | 1.21 | 1.22 | 1.15 | 1,169,948 | 10-Jan | 3.57% | -62.94% | ||
Ivanhoe Energy | USD | 1.14 | -0.03 | -2.56% | 1.18 | 1.2 | 1.14 | 828,330 | 10-Jan | 1.79% | -63.69% | ||
Ivanhoe Mines | CAD | 18.95 | 0.44 | 2.38% | 18.84 | 19.15 | 18.52 | 914,665 | 10-Jan | 4.75% | -20.31% | ||
Ivanhoe Mines | USD | 18.57 | 0.55 | 3.05% | 18.74 | 18.8 | 18.21 | 2,374,123 | 10-Jan | 4.80% | -21.94% | ||
Kincora Copper | CAD | 0.31 | 0 | 0.00% | 0.31 | 0.31 | 0.31 | 0 | 30-Dec | 0.00% | 14.81% | ||
Khan Resources | CAD | 0.19 | -0.02 | -9.52% | 0.21 | 0.21 | 0.19 | 51,700 | 10-Jan | -5.00% | -59.57% | ||
Lucky Strike | CAD | 0.33 | -0.02 | -5.71% | 0.35 | 0.35 | 0.33 | 35,000 | 10-Jan | -7.04% | -72.95% | ||
Lucky Strike | USD | 0.391 | 0 | 0.00% | 0.3861 | 0.391 | 0.3861 | 0 | 5-Jan | -70.89% | |||
Meritus Minerals | CAD | 0.035 | 0 | 0.00% | 0.035 | 0.035 | 0.035 | 68,000 | 10-Jan | 40.00% | -80.56% | ||
Manas Petroleum | USD | 0.14 | 0 | 0.00% | 0.14 | 0.14 | 0.135 | 172,200 | 10-Jan | -5.08% | -73.83% | ||
Mongolia Growth Grp | USD | 4 | -0.015 | -0.37% | 4.02 | 4.0616 | 4 | 21,400 | 10-Jan | 4.03% | |||
Blue Wolf Mongolia | USD | 9.62 | 0 | 0.00% | 9.52 | 9.62 | 9.5 | 0 | 30-Dec | 0.00% | |||
Blue Wolf Mongolia | USD | 10.05 | 0 | 0.00% | 10 | 10.0501 | 10 | 0 | 28-Dec | 0.00% | |||
Manas Petroleum | CAD | 0.13 | 0 | 0.00% | 0.145 | 0.145 | 0.115 | 83,000 | 10-Jan | -10.34% | |||
Prophecy Coal | CAD | 0.43 | 0.01 | 2.38% | 0.425 | 0.44 | 0.425 | 367,895 | 10-Jan | 4.88% | -52.18% | ||
Prophecy Coal | USD | 0.4203 | 0.0023 | 0.55% | 0.417 | 0.434 | 0.417 | 13,500 | 10-Jan | 0.55% | -54.14% | ||
Puget Ventures | CAD | 0.49 | 0 | 0.00% | 0 | 17-Sep | |||||||
SouthGobi Resources | CAD | 6.55 | 0.13 | 2.02% | 6.5 | 6.69 | 6.44 | 76,030 | 10-Jan | 9.17% | -50.86% | ||
Solomon Resources | CAD | 0.075 | 0 | 0.00% | 0.075 | 0.075 | 0.075 | 0 | 9-Jan | 7.14% | -65.12% | ||
Undur Tolgoi Minerals | CAD | 0.2 | 0 | 0.00% | 0.1 | 0.2 | 0.1 | 0 | 30-Dec | 0.00% | 3900.00% | ||
Mongolia Growth Grp | CAD | 4.08 | -0.02 | -0.49% | 4.1 | 4.12 | 4.05 | 46,200 | 10-Jan | 4.62% |
---
"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.
Suite 1213 ・ Level 12 ・ 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 AFSLicense Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.
Disclosure/Disclaimer
CPS Securities, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly from client transactions mentioned in correspondence from CPS International.
CPS International advise this email contains general information only and does not include advice. In preparing this communication, CPS International did not take into account the investment objectives, financial situation and particular needs of any person. As with any speculative mining company there are significant risks.
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