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Tuesday, February 7, 2012

[CPSI NewsWire: Draig Identifies Priority Drill Targets, Shares Up]

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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See Mongolia related quotes at bottom of newsletter

 

Garrison Capital: Corporate Advisor to HFR, CPS Securities: Lead Manager and Broker; IPO offer price at 20c; Trading commences 10am UB time.

Highfield Resources on the hunt for Western Australian potash, admitted to the ASX

February 3 (Proactive Investors Australia) Highfield Resources (ASX: HFR) has secured an agreement to explore three Western Australian tenements for potash, and has now been admitted to the ASX after a successful IPO which offered 20 million shares at $0.20 to raise up to $4 million.

Highfield will hit the ASX boards at 1pm AEDT on Tuesday 7 February, with a little over 22 million shares on issue.

Importantly for the chances of success in the secured tenements, which are all hosted within the Canning Basin, potash has already been identified in a petroleum well previously drilled.

Information such as this will help Highfield identify high priority targets for the drilling program which will commence this year.

About the Canning Basin

The Canning Basin contains vast accumulations of Ordovician evaporite salt bearing sediments ranging from 600 to 2,000 metres deep, and up to 740 metres thick, considered prospective for economic potash mineralisation.

Highfield tenements are centred on the McLarty sub-basin where the prospective Mallowa Salt unit is interpreted to be about 640 metres deep.

Work completed so far

The company has already been busy at the tenements, having completed a review of published literature and previous exploration work for potash within the basin, while also assessing the exploration potential of the area.

Also completed is a review of previous interpretations of the distribution of the Mallowa Salt within the Canning Basin by reinterpreting seismic data integrated with petroleum well log data.

Link to article

 

DRG trading as high as +9.2% at 53.5c this morning. DRG raised A$17M at 50c after halving the offer price

Draig Resources on the hunt for coal in Mongolia, identifies priority targets

February 7 (Proactive Investors Australia) Draig Resources (ASX: DRG) has identified numerous Jurassic coal bearing drill targets following a geophysical survey of two of its coal licences in the Ovorhangay province in Mongolia, as it works towards defining a JORC Resource in the June quarter

The targets identified within the Teeg and Nariin Teeg licences were relatively shallow and, at Teeg, could potentially include two laterally continuous synclinal features.

Drilling on Teeg undertaken by Draig in June 2011 intersected a broad 60 metre coal seam characterised by vitrinite-rich massive hard black coal in the lower part of the seam. 

A separate 40 metres of thick black coal seam was intersected from a depth of 89 metres, of which 30 metres was logged as consistently hard coal.

Importantly, the geophysical field work indicates the potential to define a substantial coal resource at Teeg

The survey comprised 32 kilometres of geophysical (resistivity) survey work. A total of 12 lines of geophysical survey work were carried out on the Teeg licence and three lines on the Nariin Teeg licence at depths of up to 260 metres.

Draig is currently in talks with drilling contractors to undertake a two-phase drill program. 

Phase one will include 10 drill holes with a combined depth of about 2,200 metres to obtain samples for coal quality testing. 

Phase two will aim to increase the resource size based on information from phase one and previous exploration work.

Re-listing

Draig re-listed on the ASX in early January as a new Mongolian coal company following the acquisition of eight highly prospective coal licences.

The company successfully raised A$17 million in new capital. Importantly, Draig now has sufficient funds for its 2012 exploration, further coal acquisitions and necessary working capital.

Drag is seeking further coking coal opportunities in Mongolia and Indonesia.

Link to article

Link to DRG release

 

MNAP closed +21.34% on OTC with good volume, MNP closed +5.36% in Toronto

Manas Amends Investor Relations Agreement

BAAR, Switzerland, Feb. 6, 2012 /CNW/ - Manas Petroleum Corp. ("Manas") (TSX-V: MNP; OTCBB: MNAP) today announced that it has amended its consulting agreement with Undiscovered Equities, Inc. to provide for an orderly wind-down of services from March 1, 2012 until April 29, 2012, on which date the consulting agreement will automatically expire.

During the transition period beginning March 1, 2012, Undiscovered Equities will cease to provide investor relations services to Manas, though it has agreed to provide transition services on an "as-needed" basis at an hourly rate and only upon Manas' written request.

Link to release

 

STOCK EXCHANGE WEEKLY REVIEW

Ulaanbaatar, Mongolia, February 6 /MONTSAME/ Five stock trades were held at Mongolia's Stock Exchange from January 30 to February 3. In overall, 3.1 million shares were sold of 82 joint-stock companies totaling MNT 939.3 million.

Index TOP-20 was 20064.68 points decreasing 804.25 units or 3.8% against the week earlier. The total market capitalization was set at MNT two trillion 2.7 billion decreasing MNT 66.0 billion or 3.2%.

Shares of "Khar tarvagatai" /52.0%/, "Ondorkhaan" /51.9%/, and "Khargia" /32.2%/ increased, but shares of "Ereentsav" /54.7%/, "Bishrelt industrial" /18.2%/, and "Olloo" /17.9%/ decreased.

41 stocks closed higher, 27 shares declined and 14 shares remained unchanged.

Shares of "Hermes center" /831.5 thousand units/, "Silikat" /708.4 thousand units/ and "Khokh gan" /648.8 thousand units/ were the most actively traded in terms of trading volume and in terms of trading value--"Silikat" (MNT 159.4 million), "Sharyn gol" (MNT 146.9 million), and "Khokh gan" (116.8 million).

Link to article

 

The Xstrata/Glencore Merger Could Put These Copper Miners In Play

February 6 (Bret Jensen via SeekingAlpha) The proposed merger of Xstrata and Glencore International will establish another major player among commodity producers. Fast rising demand from Asia is keeping commodity prices strong despite concerns about Europe. Given the current low debt costs and relatively low valuations, this should kick off a feeding frenzy for the midsize players in this space. Given the huge increase in copper prices over the last decade, I think that is a good place to start to look for companies that could be put in play by this merger. Here are two copper miners that could make good acquisitions.

Ivanhoe Mines (IVN) - "Ivanhoe Mines Ltd. operates as an exploration and development company. The company's principal mineral resource property is Oyu Tolgoi copper-gold-silver project located in southern Mongolia." (Business Description from Yahoo Finance)

Why Ivanhoe would make sense as an acquisition

·         One word, Mongolia. Ivanhoe has several large projects in this fast developing Asian mining Mecca. Mongolia is becoming like Asia's Bakken Reserve for mineral producers. Mongolia's low costs, huge mineral deposits and proximity to China will drive exponential growth there for decades. Ivanhoe's copper mine there will become the world's largest when it comes on line next year.

·         The company just engaged UBS to find strategic partners for some of its Australian projects. It will be interesting to see if this effort kicks off larger conversations.

·         Rio Tinto (RIO) increased its stake in Ivanhoe just last month

·         The stock is significantly under analysts' price targets. The median analysts' price target on IVN is $24, which is 40% above Ivanhoe's current price of $17 a share.

Prognosis: I think Rio Tinto makes the most logical acquirer given its current stake in the company. Given the company's market capitalization dwarfs Ivanhoe's, its robust cash flow and the attractiveness of Ivanhoe's Mongolian assets; the chances seem high that RIO will acquire the rest of IVN at some point in the future.

Southern Copper (SCCO) -

Link to article

 

Ivanhoe (Australia) Appoints UBS to Find Strategic Partner

January 31 (WSJ: Deal Journal Australia) Ivanhoe Australia has hired UBS to help find strategic partners for a string of Australian base metals projects as it vies to secure long-term funding to bring them into production.

The move to start a formal sales process comes nearly eight months after Ivanhoe Australia began sounding out potential investors, and is a further sign that interest in industrial metals remains robust despite a shaky global economic outlook.

The process to bring in strategic partners is likely to last two to three months, said Peter Reeve, chief executive of Ivanhoe Australia, which is majority owned by Canada’s Ivanhoe Mines.

Detailed discussions have been held with a number of unnamed parties over the past few months, he said in a telephone interview.

“Part of UBS’s role in this will be to organize and structure the process, and to bring in others,” Reeve told Deal Journal Australia.

Ivanhoe Australia is seeking to sell minority stakes in its Cloncurry projects, moves that would secure funding see them through to production. Potential partners include mining companies and commodity trading houses in Australia and abroad, he said.

The company is set to begin production in March at its Osborne copper and gold project, which it bought from Barrick Gold Corp. in 2010. Its Cloncurry portfolio also includes the Merlin molybdenum-rhenium project, Mount Dore cathode copper project and Mount Elliott copper-gold project.

Ivanhoe Australia is 59% owned by Ivanhoe Mines, and its chairman is Ivanhoe Mines founder and CEO Robert Friedland. Anglo-Australian mining titan Rio Tinto this month took majority control of Ivanhoe Mines, increasing its stake two percentage points to 51%.

Rio in a filing last week to the U.S. Securities and Exchange Commission said it anticipated replacing some of the management and at least a majority of the non-Rio appointed directors at Ivanhoe Mines, although it doesn’t currently have any plans for a shakeup. It also reserved the right to make other changes at the Vancouver-based company.

“For us, it’s business as usual,” Reeve said, adding Ivanhoe Australia’s management was focused on developing its projects.

He said none of the parties the company has held discussions with has proposed a broader deal than a minority interest in a project, but he added there was always the possibility “doing something bigger.”

Ivanhoe Australia’s shares closed 2.1% lower at A$1.885, giving it a market value of roughly A$1.06 billion (US$1.13 billion).

Link to article

 

D.Zorigt: No Government protocol to reduce gas prices

February 7 (news.mn) Mineral Resources and Energy Minister D.Zorigt is denying reports that the Government will issue a protocol to reduce fuel prices to their pre-January 6 levels by February 8.

D.Zorigt told our correspondent that the Government has no legal right to issue a protocol to reduce the price of petroleum products. D.Zorigt noted that the price of a liter of gasoline has fallen by MNT 70 since the price increase on January 6. 

Petroleum importers blamed the falling tugrik for the increase, but the Authority for Fair Competition and Consumers investigated that claim and found the importers had conspired to raise prices for no justifiable reason.

The authority has demanded petroleum importers reduce fuel prices and pay a fine of MNT10 billion. 

Link to article

 

Local banks ‘least exposed’ to euro zone risks -- Moody’s

February 6 (BusinessWorld Online) THE PHILIPPINE banking system is one of the least vulnerable in the Asia-Pacific to risks arising from a euro zone deterioration, Moody’s Investors Service yesterday said.

In a report assessing 16 countries, the debt watcher tagged the Philippines, along with Indonesia, as "least exposed" to a sudden euro zone slump.

Australia, New Zealand, Korea and Vietnam were in the "more exposed" category, primarily due to refinancing risks for the first three and a "relatively undiversified economy and weak financial system" for the latter.

Placed in the "exposed" bracket, meanwhile, were China, Japan, India, Malaysia, Hong Kong, Singapore, Taiwan, Thailand, Mongolia and Cambodia.

"Financial contagion risk to the Philippines is limited," Moody’s said.

"Its banking system’s foreign currency loan-to-deposit ratio is at a very comfortable 24%, showing abundant customer deposits. In addition, euro area banks’ foreign claims on the country are relatively small," the debt watcher added.

"However, the sharp weakening in 2011’s export performance is a warning that the banks may see a worsening in the debt-servicing capabilities of exporters," it continued.

In a related report, Moody’s noted five risk scenarios for Asia-Pacific banks, with contagion from the European sovereign crisis topping the list and described as a "pressing" concern.

The level of concern for the rest -- a hard landing for China, the bursting of real estate bubbles in Asia, a commodity price downturn and an Australian property market decline -- was described as "modest".

The Philippines, Australia, Indonesia, Malaysia, Mongolia, New Zealand and Vietnam were said to be vulnerable to a commodity price downturn but Moody’s said the potential of this situation developing was "low."

"While the Philippines is not a commodities exporter, its banking sector has substantial exposure to the agriculture and energy sectors, which account for a combined 18% of system loans," the debt watcher said.

Banks in the Asia-Pacific region, said Moody’s, performed "remarkably well through more than three years of financial turmoil" and this resilience is expected to continue.

Risks have increased, however, thus its examination of low-probability but potentially high-impact outcomes.

Link to article

 

Cabinet: Coal burning reduced in Ulaanbaatar

February 6 (news.mn) At a special Government meeting on February 3, members discussed Ulaanbaatar’s air pollution problem, and city officials reported on their efforts to reduce it.

According to the officials, about 50,000 households in ger districts are now using low-smoke stoves provided at a reduced price with money from the Clean Air Fund. They said about 40,000 households annually migrate from the countryside to the capital and ger districts are growing annually. This increases pollution, not just from coal burning, but from vehicle exhaust as well. About 300,000 vehicles are in use in Ulaanbaatar. 

A Mayor’s Office official said the low-smoke stoves have reduced raw coal burning in ger district households by 117,000 tons of coal. Research shows that poisonous smoke has been reduced by 15.6 percent. As the weather warms over the next three months, the burning of raw coal will be reduced even further.

Mayor G.Munkhbayar said 218 households in the Sukhbaatar district moved to free land for developing ger districts in 2011. He said construction of 300 temporary apartments for households that moved to the free land has begun, and construction on apartments for another 500 households will be started. 

Link to article

 

AFCC and CTU agree to jointly monitor price increases

February 6 (news.mn) The Authority for Fair Competition and Consumers (AFCC) and the Confederation of Trade Unions (CTU) signed a memorandum of cooperation on February 3. Acting AFCC Chief A.Ariunbold and CTU President S.Ganbaatar signed the document and explained its purpose to journalists.

The agreement aims to support fair competition, protect the rights of consumers, prevent unreasonable price increases, organize joint monitoring, and strengthen cooperation between the two organizations.

Specifically, the CTU and AFFC plan to implement the following measures: 

1.    To jointly monitor gasoline and diesel fuel prices and to take measures to implement regulations on the industry.

2.    To ensure that gasoline and diesel fuel prices meet the laws on competition and related legislation. If there are violations, the violators should be held accountable.

3.    To deliver to the Government suggestions for increasing competition among petroleum companies, reducing prices through fair competition, and stabilizing prices.

4.    To monitor consumer goods prices at businesses and market vendors. If the prices are too high, the press will be informed, and the businesses and vendors will be held accountable. 

5.    The prices of some consumer goods, including flour, bread, rice, meat, milk, sugar, and vegetable oil will be researched on a monthly basis and the results will be released to the press. 

6.    To send to the Government suggestions for increasing overall competition in trade throughout the country.

Link to article

 

Philips Lighting officials coming to Mongolia

February 7 (news.mn) A delegation from the Dutch company Philips Lighting LLC is visiting Mongolia from February 6 to 10 as part of a cooperative agreement with Monkhorus International LLC, an energy company. 

Under the agreement, Philips will supply Mongolia with streetlights, energy-efficient household lights, and the latest energy-saving technologies.

Link to article

 

N.Dashzeveg: Per capita GDP will rise to USD 10,000

February 6 (news.mn) The MPP recently ratified the party’s “People’s Development” program, which promises to dramatically increase per capita GDP in Mongolia by 2031- perhaps up to USD 60,000.

Our correspondent spoke with economist N.Dashzeveg about the feasibility of such a large increase. He said MPP member and Defense Minister J.Enkhbayar has stated that the method used to calculate the GDP figure is known as “T21.” But N.Dashzeveg has doubts about that method.

N.Dashzeveg has estimated per capita GDP through 2013, and by his reckoning, GDP growth will rise to MNT 72.7 billion and the population will increase to 3.5 million, meaning per capita GDP will be about MNT 21 million. If the tugrik’s rate against the U.S. dollar were MNT 2,000, that would work out to a per capita GDP of about USD 10,000 – significantly lower than the MPP’s prediction.

N.Dashzeveg said he used the City Bank method to estimate per capita GDP. City Group specialists believe Mongolia’s economy will annually grow by 8.7 percent to 2030, he added.

Link to article

 

President Elbegdorj endorsed study, with his comments below

Tax transparency key for poor mining nations: WEF

February 6 (Expatica) Transparency on tax and royalty payments is key to helping developing countries harness their mineral wealth, a report released by the World Economic Forum said on Monday.

"Some of the worlds poorest countries are rich in mineral resources. Using these resources effectively offers an unmatched opportunity for social and economic transformation," said the study produced by the Geneva-based think tank and the Boston Consulting Group.

Recommendations include publishing data on mining-related tax and royalty payments, and creating local development councils.

"A high proportion of mineral development, particularly in the poorest countries, is conducted under mineral development agreements between governments and companies," said the report.

"Governments should ensure that these documents, and those laying out tax and royalty data, are accessible to the public."

The report also cites effective monitoring and dispute settlement mechanisms as important building blocks.

"The case studies and recommendations will help countries such as ours develop our mineral resources in a fair and responsible manner for all stakeholders," said Mongolian President Tsakhia Elbegdorj in the report.

"Socially as well as environmentally responsible mining is not merely a challenge for the host countries, but it is the prerequisite for sustainable global development."

The study, "A Framework for Advancing Responsible Mineral Development," was produced following consultation with 400 experts from NGOs, governments and mining companies.

"Transparency is essential to ensure prosperity for resource-rich countries, building the trust necessary for effective collaboration among stakeholders," Huguette Labelle, chair of Transparency International, said in a WEF statement on the report.

The report report highlights 22 examples of projects and initiatives in countries such as Mongolia, Liberia, Ghana and Chile.

Link to article

Link to BCG release

Download "A Framework for Advancing Responsible Mineral Development" report

 

THE FILTHY RICH AND THE RACISTS IN MONGOLIA’S MINING BOOM

Sitting on the resources China needs, Mongolia is enjoying boom times, too. But the foreign funds and geopolitical games have some Mongols worried about how the people of Ghengis Khan will handle their new relationship with an old enemy.

February 6 (The Globe Mail) When Tugsjargal Munkherdene discovered hip-hop, he was a boy growing up in the smog-choked tent slums of Ulaanbaatar.

The Soviet Union had just collapsed, and Mongolia — formerly a sparse Communist client state of nomadic herders, drab towns and thousands of Soviet troops — was in a tortuous whirlwind of democratic reform and free market shock therapy. Year after year, extreme winters snapped the landscape frozen, killing millions of animals and sending hundreds of thousands of destitute nomads to pitch their ger — or yurts — on Ulaanbaatar’s fringe.

As waves of poor herders smashed into Ulaanbaatar’s grey thicket of socialist tower blocks and settled into the slums around him, Munkherdene, just entering his teens, was getting acquainted with the music of Dr Dre, Snoop Dogg and Cypress Hill.

Today, 28-year-old Munkherdene, a popular rapper better known by his stage name Gee, is every inch the modern Mongol, typical of a country barrelling from a nomadic past to an urban future. Shaven-headed and hulking, his forearm features a tattoo in tribute to the New York City rap collective Wu-Tang Clan. In place of the typical bling around his neck, there is a charm of a metal mirror, bells, a ring, a swastika, and mink and reindeer fur — a gift from his shaman.

As we crawl in a two-car convoy through Ulaanbaatar’s horrendous traffic, it’s clear today’s problems are different to when Gee was a boy. The slums are still vast, but the food queues are gone, and the city fizzes with Irish pubs, Korean barbecue joints and luxury cars, all signs of growing wealth.

Gee considers himself a musician with a message, and he’s developed a huge following among young Mongolians. Economic inequality, corrupt politicians and environmental destruction from mining are all issues he confronts, but rolling up to a nightclub at the base of an apartment building, it is clear where he, and many Mongolians, locate the root of these problems.

Swaggering on a stage in front of a sweaty crowd of university undergraduates, he asks rhetorically: “What is this thing, growing among us every day here in Mongolia?”

The crowd, hands thrust into the air, doesn’t miss a beat: “Hujaa!” they yell, a Mongolian slur for Chinese, something like the English insult “chink.” It’s also the title of one of Gee’s biggest hits, a collaborative effort with a traditional folk band, Jonon. The film clip, which features Gee swaying menacingly in front of dangling sheep carcasses, has been viewed more than 100,000 times on YouTube.

He begins, in the guttural rolls and pops of the Mongolian language:

“Way better than a chink who perceives the world with his stomach / I’m a Mongol / That’s why you have to bow to me.”

As the crowd sings along, he paints a picture often depicted here – adorned with unvarnished racism – of the proud land of Genghis Khan being gobbled up by voracious Chinese. All around, money is flowing in, but greed, division and miscegenation reign. Until, that is, Mongols unite to throw out the interlopers.

It’s a call that resonates in Mongolia at a time of historical uncertainty for the former world conquerors, wedged as they are on a thin expanse of grassland between the heaving powers of Russia and China. Here is a rising tide of ugly ultranationalist sentiment, neo-Nazism at its most extreme.

“The whores you bought, the ministers you bought / They’re not Mongols – they’re half-breeds / Mongolia is growing and will not be tricked by the Chinese / The Mongolian era is coming to wipe everything old out of its way”

EVERYWHERE the rise of China is disrupting the old order of things, realigning economies and shaking up politics. But perhaps no country is finding itself as dramatically sucked in by China’s economic magnetism, or as utterly terrified by its growing geopolitical clout.

Mongolia, an impoverished parliamentary democracy encircled by China and Russia, is home to just under three million people, on land three times the size of France where, in many places, even trees are a rarity. Across the border are 1.3 billion Chinese, countless factories, and the growing heft of an ancient enemy growing very rich, very quickly.

Most importantly, under the Mongol earth is the very stuff needed to fuel China’s economic explosion. Largely untapped until relatively recently, Mongolia’s mineral wealth comprises pretty much everything — coal, copper, gold, uranium — in quantities estimated to be worth trillions of dollars. China is the largest buyer by far.

For some at least, Mongolia is a place where you can become filthy rich, if you can tap into the minerals boom, legally or otherwise. Already it is one of the world’s fastest growing economies; it grew 14.8 per cent last year and the rate is widely predicted to top 20 per cent soon. Ulaanbaatar, where nearly half the population lives, is a boom town, bursting far beyond the confines set out by Soviet central planners. At the city’s central S├╝khbaatar Square, under a new statue of Genghis Khan, the fashionably-dressed promenade in front of Mongolia’s first Louis Vuitton and Zegna boutiques as old Moscow city buses sputter by, a reminder that the country’s GDP per capita is still just under USD$3,000. Older people walk the streets in richly decorated, long deel, or tunics. The young are fervent fans of hip-hop, punk and electronic music.

Mongolia is also a place where plenty of people fear the future. Government corruption is widespread, and a small number of tycoons exert a large influence on the government and economy. Herders and environmentalists complain that mining development is destroying the grasslands and water sources on which livestock and nomads depend. Foreign companies circle hungrily, and the government choreographs a complex geopolitical contest for access to the mines among China, Russia, the West and other East Asian economic powers.

And then there’s the question of where the money goes. Will Mongolia be able to use the vast wealth to build a fair and equitable society, or will it follow other poor countries afflicted by the “resource curse,” down a path of overdependence on resources leading to stagnation, where only a small elite benefits? Will it be like Australia or Nigeria? Norway or Venezuela?

Will Mongolia, as many fear, become a virtual colony of China? And what happens if China runs out of steam?

In his office in the middle of Ulaanbaatar, Dosbergen Musaev, chief economist with Eurasia Capital, a regional investment bank, enthuses about Mongolia’s boom as the pounding of construction comes through the window. Nearby, skeletons of new office buildings can be seen rising. Beside them is a new strip club that is larger than a nearby supermarket.

“It’s incredible,” he says of the dollar value of Mongolia’s mineral wealth. “We’re talking about what? One-and-a-half, two trillion [US dollars] probably.

“I mean, look at the streets. Ulaanbaatar is probably the capital of Humvees in the world,” Musaev says. “Everything comes down to China. That’s China’s demand for commodities. As long as you are optimistic about China and the Chinese economy, you must be optimistic about Mongolia’s economy. And whatever growth will be in China, it will be much better, much bigger growth here in Mongolia.”

The focus of most of the buzz is on two massive mining projects under the crisp blue skies of the Gobi Desert right by the Chinese border. One the world’s largest unexploited gold and copper mines, Oyu Tolgoi, is run by the London-based, Anglo-Australian resources giant Rio Tinto. The site, set to go into commercial production in 2013, is estimated to contain about 46 million ounces of gold and nearly 37 billion tonnes of copper. The other is Tavan Tolgoi, a massive deposit of six billion tonnes of coal, already operating, albeit at a fraction of its potential.

Mining is nothing new to Mongolia, but the boom is. During Mongolia’s seven decades as a Soviet client state, some mines were developed but much of the country was left untouched. Then came the 1990s, democracy, and a succession of mining laws that gradually came to resemble more closely the regulatory wish-list of the big foreign firms. It is all part of what people like to call the commodities “supercycle.” That is, the developing world, led by China, is undergoing an unprecedented economic rise, even while the West struggles, and in doing so is dragging up the global price of raw materials.

Ask what year marks the start of the boom in Mongolia and everyone will give you a different date. But it is clear Oyu Tolgoi, which is estimated to contain hundreds of billions of dollars in deposits, is a watershed, according to Jim Dwyer, the head of the Business Council of Mongolia. “This is the biggest agreement in the history of the country by a magnitude of a thousand,” he enthuses.

OVERSEEING Mongolia’s balancing act are urbane, Westernised, democratic politicians, among them Ganhuyag Chuluun Hutagt, the vice finance minister. Ganhuyag is a regular among the Davos crowd of global business luminaries and he, like the business magnate turned Prime Minister S├╝khbaataryn Batbold, enjoys calling Mongolia Asia’s “Wolf Economy,” buzzwords deliberately playing off the better known, booming “Tiger Economies” of Southeast Asia.

Ganhuyag is a big believer in the idea that Mongolia will become a much richer country and will avoid the resource curse. The country’s key strength, he says, is that it’s a democracy. The government currently pays every Mongolian 21,000 tugrik, or about AUD$14.50, a month from mining income, although he concedes it is a policy is aimed at buying public support, money he thinks could be better spent on infrastructure. If everything goes to plan – an uncertain thing given elections set for this year the shakiness of global capital markets – every Mongolian is soon to become a shareholder as part of an initial public offering for Erdenes Tavan Tolgoi, or ETT, the Mongolian company involved in operating part of the massive Tavan Tolgoi coal deposit. A whole constellation of non-governmental organisations will make sure environmental standards are upheld, he says.

The real sticking point is geopolitics. Russia, which formerly ran the show, sits to the north. China wraps around the western, southern and eastern borders, and uses its position as the dominant buyer to get away with paying well below world prices for Mongolia’s commodities. The People’s Republic would prefer to keep all the processing industries — and the jobs that go with them — on its side of the border. It is also quick to anger; China has shut down the border for “maintenance” during one past visit by the Dalai Lama, and lodged a complaint during another visit in November.

“We really are not in a good position to negotiate,” Ganhuyag laments. Mongolia pursues a diplomatic policy of embracing so-called “Third Neighbours” in the West and countries such as Japan and Korea. It even sent troops to Iraq. But this does not completely get the country out of its bind. “Even if we allow American and European interests, Australian and Canadian interests, in Mongolian mining, the main buyers will be in China,” he says.

Tavan Tolgoi has become the crucible of this geopolitical contest. Apart from the area already being developed by the state-owned ETT, control over much of the rest of it is under negotiation, with jockeying from, among others, America’s Peabody Energy, China’s Shenhua, and Russia’s state rail company, RZD.

Even though China is less than 200 km away from Tavan Tolgoi, Mongolia’s government is pushing for a huge rail line to the sea through Russia, at an estimated cost of USD$7 billion, to break its dependence on China; currently coal is currently trucked across the rocky desert to China on dirt roads. Part of Russia’s bid is that it will build the railway — as part of its policy of gaining influence in Mongolia and creating “a belt of friendly nations” — but it will only do so if it gets a cut of the mine, says Russia’s ambassador to Mongolia, Victor Samoilenko.

Samoilenko, formerly a Soviet then a Russian diplomat in Asia and Australia, insists this is not about Russian rivalry with China, which is much reduced from the Cold War, when both were rivals for leadership of the Communist world, and Soviet troops in Mongolia pointed like a dagger at Beijing. “It’s not Russian geopolitics,” he says, and pauses briefly. “Maybe it’s Mongolian geopolitics.”

Others tell a similar story. Mongolia wants to be courted by the great powers and is dangling its mineral wealth as a lure. But America is unlikely to warm its relationship any further unless Peabody Energy, the American firm, gets in on the action.

IT IS EIGHT at night on the steps outside Central Tower, Ulaanbaatar’s ritziest mall and office complex, and already blood is spattered on the ground, possibly from a brawl, possibly from a drunk keeling over — both common sights. The bloodstain looks fresh, but there is no sign in the crowd that anything out of the ordinary has happened.

Mongolians pride themselves on their warrior spirit. The post-Communist period has seen the rehabilitation of Genghis Khan from shunned despot to a beloved national symbol. His likeness is found on monuments throughout the capital, in homes, and on no fewer than three different brands of vodka.

Mongolians likewise have never been very good at getting along with each other. In traditional nomadic society “your neighbour is living 20 or 50 kilometres from you,” explains Bat-Erdeniin Batbayar, or Baabar, a former minister and one of Mongolia’s most prominent intellectuals. “They’re producing the same things — milk, skin, wool, meat.” Now maybe only a quarter of the population lives the traditional lifestyle.

Alcohol abuse is widespread, with passed-out and stumbling people visible on the streets day and night. Fights are an almost routine feature of Ulaanbaatar’s nightlife.

The 1990s was when Mongolia’s urban influx really started, but the mining boom is adding to the slums of ger outside the capital and exacerbating social tensions, says Sumati Luvsandendev, the director of the Sant Maral Foundation, a non-profit organisation which surveys Mongolian society. The public is split on the benefits of mining, and a vast majority is convinced the money is not being spread fairly, he says.

“What is rather pessimistic are the two extremes, very rich and very poor,” Luvsandendev says. “We also have a quite significant part of the poor population which [has] actually immigrated to Ulaanbaatar and surrounded it, like a besieging army. On the other side we have these very rich people with their million-dollar apartments or houses.” Besides the big mining projects, there are black market mines, many of them run or backed by Chinese interests, which have popped up largely unnoticed in remote corners of the country, he says. Construction too has brought to the capital thousands of Chinese who live in high-walled compounds. No one, in the government or elsewhere, seems to know how many there are. While Mongolia’s democracy has proved resilient, an ugly ultranationalism has been on the rise. At the most extreme end, a handful of home-grown neo-Nazi groups have, with a blithe lack of irony, turned against Chinese and other foreigners, picking fights, harassing inter-ethnic couples, and carrying out vigilante attacks. More generally, the sort of reflexive racism of Gee’s music has become commonplace. If China’s economy loses strength, Mongolia goes down, Luvsandendev says. Problems also will arise if things go too well and Mongolia’s economy overheats. “If inflation is high then you should expect public disturbances,” he argues.

I ask Luvsandendev about the chipper pronouncements of leaders like Ganhuyag, the vice minister of finance. Earlier, the minister had told me Mongolia could avoid the resource curse with plans that included turning Ulaanbaatar — the world’s second-most polluted city, and the world’s coldest capital — into a Hong Kong or Switzerland-style finance and banking hub for northern and central Asia.

“I hope he knows what he’s talking about,” Luvsandendev says, “but I personally think it’s all bullshit.”

FIVE HOURS outside of Ulaanbaatar, across dirt tracks, past herds of horses, cows, wild deer and the interminable vastness of the Mongolian steppe, there also is blood on the ground.

I have just met Kishigbadrach Batbold, an underemployed electrician from the capital’s ger district, as he pans for gold left behind in mining waste. As we begin talking, an elderly man from Shijir Alt, which translates as Pure Gold, the dusty Wild West-style town around the corner, reels up drunk and begins helping himself to Batbold’s group’s dirt. The reaction is explosive. Amid a crescendo of yelling, a friend of Batbold’s lifts a fist-sized stone from the creek and slams it down across the man’s head, splitting it open and sending him stumbling away, bloodied. “That’s what Mongolians are like,” Batbold says. “It’s not just here. It’s in our nature. We’re quick-tempered.” The region around Shijir Alt is what many fear Mongolia’s future will resemble. The area began seriously opening up to gold mining in the 1990s and was soon inundated with “ninjas” — illegal artisanal miners like Batbold. For dozens of kilometres around, the grasslands have been scored with deep gashes. Trucks kick up plumes of dust along rough tracks, or simply carve new ones into the steppe. On a two-week trip here, each member of Batbold’s group of five people can earn between 1.5 and 2 million tugrik, somewhere in the region of AUD$1,000 to $1,400. It pays well, but it is hard work, and plenty of bribes have to be paid. But finding work in Ulaanbaatar is hard, too. Batbold sees his own fortunes and Mongolia’s in the same light.

“We don’t want to do this forever. We need development. It’s tough to spend a lot of your life digging the ground, getting dirty,” he says. “Everyone seems to think the way to develop out of this situation is mining. Of course, if our country ends up like this site here, then that would be awful.”

Shijir Alt and the region beside it, Zaamar, are nowhere near as wild as they once were. The number of ninjas has dropped from thousands to just a handful, following brutal police crackdowns. While mercury was previously used to help separate gold, there is no sign it is in use now.

Further up the road, where the pits end, Genden Chinchuluun shuffles through a stack of papers in her ger and pulls out a stack of land use permits. Her family and herd — five people, 60 horses, and a thousand goats and sheep — have the right to use the land, she says, but mining companies have been bending the law. Companies — particularly the Mongolian-operated ones, she claims — have been eating away at her land, and sucking away the water table.

“If mining is supposed to make us rich and bring us development, why is it that we don’t even have a paved road in Zaamar?” she asks. Particularly galling is a Buddha statue built on a nearby hill by one of the mining companies. “Instead of spending money on a Buddha statue that’s going to get covered in bird shit, why can’t they dig us a couple of wells?” she fumes. “Maybe when I’m dead, I’ll need Buddha.”

“FROM THE OUTSIDE, to foreigners, we may look like we’re going down a democratic route. But our society is chronically ill, and it’s getting sicker and sicker.”

Sipping on salted tea in his ger, Tsetsegee Munkhbayar is the poster boy for a small section of Mongolians who have become attracted to an increasingly radical brand of environmental activism.

A few years ago, Munkhbayar was a darling of the international NGO circuit; in 2007 he won the international Goldman Prize for environmental conservation, for his efforts to curb excessive water use in mines near his home southwest of Ulaanbaatar. But since then, he has taken an increasingly militant path. As we speak in his camp in a grove of trees by a clear brook outside of Ulaanbaatar, Munkhbayar waits on bail on charges of using a gun to shoot up the equipment of three mines in the south of the country. He faces up to five years in prison for damaging property. Fellow defendants include activists who shot an arrow through the nation’s parliament. “It’s their way of saying, ‘We will crush you if you rise up against us.’ But it won’t crush the hearts of Mongolians,” says Munkhbayar.

He and other activists in recent years succeeded in pushing through a national law restricting mining in sensitive areas of water and forest, but Munkhbayar says the area encompassing Oyu Tolgoi and Tavan Tolgoi is not covered. And, he adds, politicians and companies, both Chinese and Western, are gaming the system.

“I’m confrontational because there’s no other way,” he says.

The backlash that Munkhbayar leads is inspired by Mongolia’s herder past. Sitting cross-legged under books containing the teachings and edicts of Genghis Khan, he brings to mind a sort of country gentleman. He espouses a philosophy that the nomadic life represents a model for a dysfunctional world.

But that is a model Mongolians are abandoning, even in their own forms of rebellion. On the other edge of Ulaanbaatar, the steppe has become the backdrop for regular drag races. Leading the way to a race site in a dust-spattered Mercedes Benz is Gankhuyag Byambatulga, the leader of Dayar Mongol, one of the country’s neo-Nazi groups. Beside him as he drives, his girlfriend, who is well over six feet tall, chain smokes. In the back seat, another man, sporting a black eye, sits brooding.

As twentysomethings in hotted-up Japanese cars race along an empty stretch of road and a single yellow Humvee tears off at speed across the plain, Byambatulga sketches a swastika on his car’s bonnet and outlines Dayar Mongol’s philosophy.

He swats away the incongruity of Asians adopting the symbols and rhetoric of white supremacists. Hitler, he explains, simply stole his ideas from Mongolia. “If you look at the beginning of mankind, it was in the Gobi. We’re the first people on the planet, and the greatest,” he says. “The real Aryans are Mongols.”

Such thought was not tolerated under the old Communist regime. But now that these sentiments are out in the open, Byambatulga says, nationalism is growing, even if groups such as his stay on the fringe.

“Back in 2002, people used to call the Chinese ‘Chinese citizens’ and almost worship them. Now they call them ‘hujaa,’” or chinks, as in the title of Gee’s song. “We’ve influenced peoples’ mentalities. This will spread.”

I ask about the sulking man with the black eye, and Byambatulga introduces us. Mr Black Eye gives his name, but says he does not want it printed. He is, it turns out, from across the border, in the Chinese province of Inner Mongolia. That region, incorporated into China centuries ago, is what many Mongolians say they fear: economic and demographic domination by Han Chinese, and an eroding Mongolian culture. The killing of a Mongolian herder by a Han truck driver there last year triggered a rare outburst of ethnic rioting.

Back in China, Mr Black Eye was something of a nationalist gangster, beating up and stealing from the Han, for which he spent a spell in prison. Finally fed up with Han domination, he says, he  crossed over to Mongolia and sought out Dayar Mongol. But the injury, he says, is not the result of a fight; he simply fell. “I’ve never been beaten up by Chinese. I’m the one who beats up Chinese.”

“This is where Mongolia is headed,” if foreigners are allowed to be the ones to take control of Mongolia’s resources, Byambatulga says. “So many Chinese [are] coming in, our blood is getting impure. Mongolia will exist as a country, but there will be no Mongolians left.”

WHILE DISCONTENT festers in much of the country, optimism bubbles away in international forums, board rooms and the international press. Despite a broad public perception to the contrary locally, the World Bank says Mongolia’s growth has in fact been broad-based — even manufacturing, which normally is hammered in resources booms, is doing well.

Parliamentary elections are set for the middle of this year, and politicians are set to spread out across the country, pressing the flesh in apartments and slums and beaming their promises into TVs in nomads’ camps. Most of the debate will not be whether or not to build mines, but on how to maintain Mongolia’s sovereignty and share the spoils.

In his office, as construction dust blows in through the window, Musaev, the investment banking analyst, says Mongolia has no choice but to be sucked into the boom.

“If the government changes in elections, you know politics will not change, that the mining environment will not have revolutionary changes,” he says.

Unless, of course, China slows down. Then it all falls apart.

Tomorrow, Aubrey Belford reports on a surprise growth industry in Mongolia: shamans.

Link to article

 

Misc

Mogi: can’t handle my liquor my a..

Drinking Etiquette Around the World

What, where, and how to drink abroad

February 6 (MoveOne) Just like any other differences, various traditions of drinking alcohol are present in many cultures. In some countries, it became a sort of a ritual, with specific rules and patterns. In others, it is just a matter of socializing. Still, when traveling to foreign country, it may be useful to be familiar with drinking customs.

Anywhere you travel, if alcohol is traditionally consumed, you will be offered to have a drink. And not knowing what drinking customs are, you may be seen as an “outsider”, which is something you will definitely want to avoid when adjusting to your new environment. Therefore, we bring different alcohol drinking customs in some countries:

Mongolia – In this country, about 12 liters of alcohol per capita is consumed every year. Almost everybody drink in Mongolia regardless of their age or gender. Scientific research showed that Mongols lack a blood ferment that disintegrates alcohol; therefore they get drunk quickly and may lose control completely. More than 80% of crimes in Mongolia have been committed by people under influence of alcohol. Still, foreigners need not to worry, as it is considered impolite to force guests to drink more than three times. And furthermore, you will not insult anybody if you only taste the offered drink and then give it back.

Link to article

 

Why You Should Make Mongolia Your Next Asian Destination

January 31 (Bootsnall) Mongolia is an underrated destination, often forgotten by the backpackers of Southeast Asia or those concerned with conquering the behemoth that is China. But Mongolia has much to offer any type of traveler, from exploring the expansive steppes and the Gobi Desert, to meeting the nomadic peoples of the least densely populated country on earth, and though modern development is slowly creeping in, the country remains largely off the mass-tourism trail, giving visitors plenty of opportunity to learn first-hand about the traditional Mongol way of life before it threatens to change.

Here are eight experiences not to miss in Mongolia:

1. Ulaanbaatar

Ulaanbaatar (or UB as it is known to the local expats) is both the capital and the largest city in Mongolia. Since switching to a democratic, market-based economy twenty years ago, Ulaanbaatar has become the hub for all activity in the country. It is home to the only international airport, the government, the Mongolian stock exchange and the largest monastery in the country, and is the launching point for all the other regions, with most tour companies having offices downtown. But the business nature of the city should not deceive a traveler into thinking that Ulaanbaatar has no merits of its own. There is the Zaisan monument for those fans of the former Soviet Union, the National History Museum for lovers of Chinggis Khan (or Genghis Khan as most people know him) and the Gandan Monastery for travelers seeking a little enlightenment.

It combines old and new, Communism and Capitalism, and nomadism and modernism. With the continual presence of Chinggis Khan, some chaotic markets and a few nightclubs with enough techno and smoke machines to liven up any party, Ulaanbaatar merits a visit of its own before heading into the rest of the country.

>> Find hostels in Ulaanbaatar

2. The Mongols (past and present)

If you’ve seen pictures of Mongolians, it is likely some smiling face, with a stunning blue sky in the background. They are infinitely friendly, generous and welcoming, especially in the countryside. There is a general philosophy in Mongolia to share what you can, so whenever you step inside the ger, be forewarned that the consumption of either fermented mare’s milk (airag) or fermented camel’s milk might be expected. To be polite, it is only necessary to touch the offered food or drink to your lips, if camel’s milk is not that appealing.

The Mongolians of the past are just as interesting as their descendants. The world often forgets about the influence of the Khans, specifically Kublai Khan. He ruled an empire that stretched from China to the fringes of Europe. The effects were not tangible; there are very few monuments, and temples that remain. Instead, talk to locals who still pride themselves on their history, and visit the National History Museum to see the scope of the empire.

>> Book a Mongolia adventure trip 

3. The Gobi Desert

Mongolia has three main types of terrain: steppe, high mountain and desert. The Southern and Eastern reaches of the country are both dominated by the Gobi Desert, but while similar, each area is also quite different. They both offer stunning landscapes, sand dunes and, of course, the chance to ride camels.

The South Gobi is better for fossils than the East Gobi (which only offers petrified wood). Museums are now the owners of most fossils but it is equally fun to let your imagination run wild and play archaeologist for a day in the desert. As with most other regions of the country, the Gobi has numerous monasteries and spiritual sites (such as the Khamar Monastery), drawing just as many Mongolian tourists as foreigners to the desert.

4. Camels and reindeer

Neither reindeer nor camels are unique to Mongolia but both the camel and the reindeer have been part of life in Mongolia for centuries. Each of these animals is integral to daily life among nomads, and any visitor will participate in daily activities, like milking, or fetching wood. See first-hand how the animals provide cheese, milk, meat and alcohol and are used for the transport of both goods and people. To visit camels, there are both long- and short-term options, whether it’s multi-day treks in the desert or ten minute rides close to the city.

If you are more interested in reindeer, homestays are available with the Tsaaten herders of northern Mongolia, where life is slow and you can learn to ride reindeer, make reindeer products (like tools, food and clothing) or generally learn about the lifestyle. All of these activities are provided while staying in a tipi with no electricity, miles away from any town.

5. The great outdoors

Mongolia is a country made for nature lovers. It has one of the lowest population densities in the world, which equals a lot of open space, ranging from the far northern reaches of Lake Khuuvsgul among forested mountains, to the rolling grassy steppes for which the country is known, to the drifting sand dunes of the Gobi. The common feature among all the landscapes being the consistent blue sky. There are ample opportunities to hike (whether it is in sand dunes, mountain tops or steppes), horse trek, camp and almost any other activity that the outdoors might provide.

Horse trekking is one of the most common options, as Mongolians are known for their adeptness with horses. Much of the time, a traditional Mongolian twist might be thrown in, whether it is staying in gers or visiting the aforementioned reindeer herders. If you are only in the country for a short while, there are multiple national parks that are easily accessible from Ulaanbaatar (such as Terelj National Park) and ger camp accommodation is plentiful.

>> Learn more about top experiences for horse lovers here and around the world 

6. Communist history

Mongolia is an excellent example of Sovietism with an Asian flare. Being sandwiched between the two major Communist powers of Russia and China forced Mongolia to side with one or the other and it chose Russia. That decision is still reflected in present Mongolia; much of the architecture and distinctive qualities of Ulaanbaatar are Communist. There are grey, concrete apartment buildings reminiscent of Eastern Europe and the faces of Marx and Lenin are still common.

Some of the more notable attractions in the capital city relate to the Communist past, including the Zaisan Memorial, the State Department Store, and the Central Cultural Palace. In contrast to many European states, much of the Communist threads continue to be visible: there are statues to Lenin in downtown Ulaanbaatar, and the main square is named after Sukhbaatar, a great Communist hero. Much of the older generation reveres the Communists because they freed them from the Chinese.

The flip side of the coin reveals what Communism destroyed. Much of the culture and religion of Mongolia was damaged, numerous temples were destroyed, monks killed and people persecuted. The best place to learn about this side of Mongolia is the Memorial Museum for the Victims of Political Persecution.

7. Spirituality

Most Mongolians are Buddhists and spirituality is very important, even among the younger generations. Any temple is likely to have as many Mongolian tourists as Westerners (if not more) and people will take a 20 hour round trip train ride to visit spiritual centres with good energy in the East Gobi Desert.

In the capital, check out Buddha Park, or Gandan Monastery, two stunning representations of the commitment of Mongolians to their religion. Outside of the special sights that the temples and centres present, there is an everyday quality to the spirituality. It is not uncommon to see people make daily offerings or to have shrines erected in their homes.

>> See other spiritual destinations 

8. Festivals

One of the biggest draws for tourists to Mongolia is the annual Nadaam festival in July. It combines some of the most traditional aspects of Mongolian culture in one setting. The traditional sporting competitions of Nadaam are wrestling, archery and horse racing. But if sports are not appealing there are the clothing (Mongolian wrestling wear looks like a speedo and matching bolero) and food (like tsuivan – a traditional noodle stew) aspects.

The largest Nadaam celebration happens in Ulaanbaatar but there are festivals throughout the countryside, and the Mongolian festival scene is not limited to Nadaam; there is also the Eagle Festival in October, the Thousand Camel Festival and Mauryz (Kazakh Traditional Spring Festival). Each festival offers a unique view into the Mongolian and other ethnic minority cultures.

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

4,295.98

44.81

1.05%

4,266.00

4,310.50

4,265.80

0

6-Feb

 

 

Nikkei 225

NKY:IND

8,929.20

97.27

1.10%

8,939.99

8,949.32

8,916.94

0

6-Feb

 

 

Hang Seng

HSI:IND

20,709.94

-47.04

-0.23%

21,015.55

21,015.55

20,633.13

0

6-Feb

 

 

MSE Top 20

MSETOP:IND

20,416.10

351.40

1.75%

20,416.10

20,416.10

20,416.10

0

6-Feb

 

 

FTSE 100

UKX:IND

5,892.20

-8.87

-0.15%

5,901.07

5,901.07

5,863.55

827,496

6-Feb

 

 

TSX Composite

SPTSX:IND

12,559.85

-17.43

-0.14%

12,547.18

12,592.12

12,521.56

147,979,171

6-Feb

 

 

S&P 500

SPX:IND

1,344.33

-0.57

-0.04%

1,344.32

1,344.36

1,337.52

0

6-Feb

ASX

Aspire Mining

AKM:AU

AUD

0.435

0.035

8.75%

0.41

0.44

0.41

3,516,074

6-Feb

17.57%

-39.58%

Blina Minerals

BDI:AU

AUD

0.005

0

0.00%

0.005

0.005

0.005

0

2-Feb

0.00%

-81.48%

Cougar Energy

CXY:AU

AUD

0.015

0

0.00%

0.015

0.015

0.015

153,000

6-Feb

-6.25%

-11.76%

Draig Resources

DRG:AU

AUD

0.49

0

0.00%

0.48

0.49

0.475

299,625

6-Feb

-43.02%

FeOre

FEO:AU

AUD

0.28

0

0.00%

0.28

0.28

0.28

0

31-Jan

0.00%

General Mining

GMM:AU

AUD

0.12

0.01

9.09%

0.11

0.12

0.105

291,326

6-Feb

192.68%

-17.24%

Guildford Coal

GUF:AU

AUD

0.825

0.005

0.61%

0.815

0.83

0.805

156,056

6-Feb

10.00%

14.58%

Haranga Resources

HAR:AU

AUD

0.34

0.01

3.03%

0.335

0.35

0.335

246,310

6-Feb

19.30%

-44.72%

Modun Resources

MOU:AU

AUD

0.044

0.001

2.33%

0.044

0.044

0.044

651,077

6-Feb

-2.22%

266.67%

Mongolian Res Corp

MUB:AU

AUD

0.15

0.025

20.00%

0.15

0.15

0.15

24,150

6-Feb

20.00%

-66.67%

Robe Australia

ROB:AU

AUD

0.015

-0.001

-6.25%

0.015

0.015

0.015

758,669

6-Feb

7.14%

17.65%

Voyager Resources

VOR:AU

AUD

0.069

0.001

1.47%

0.068

0.07

0.067

3,433,561

6-Feb

1.47%

-46.55%

Xanadu Mines

XAM:AU

AUD

0.385

0.01

2.67%

0.4

0.4

0.38

96,000

6-Feb

11.59%

-45.00%

MSE

A Board

Aduunchuluun 

ADL:MO

MNT

5,000

1

0.02%

4,920

5,000

4,920

310

6-Feb

-16.67%

-75.55%

APU

APU:MO

MNT

3,880

180

4.86%

3,700

3,880

3,700

13,302

6-Feb

-7.62%

12.46%

Atar Urguu

ATR:MO

MNT

38,000

0

0.00%

38,000

38,000

38,000

0

2-Feb

31.03%

Baganuur 

BAN:MO

MNT

8,500

499

6.24%

8,010

8,500

8,010

230

6-Feb

-35.11%

-59.33%

Mogoin Gol

BDL:MO

MNT

28,200

2,200

8.46%

28,200

28,200

28,200

38

6-Feb

-9.03%

-1.91%

BDSec 

BDS:MO

MNT

3,200

0

0.00%

3,200

3,200

3,200

0

2-Feb

-8.57%

1.59%

Bayangol Hotel

BNG:MO

MNT

36,000

0

0.00%

36,000

36,000

36,000

0

3-Feb

0.14%

15.38%

Bayanteeg 

BTG:MO

MNT

36,500

0

0.00%

31,600

36,500

31,600

0

30-Jan

1.39%

87.10%

UB BUK

BUK:MO

MNT

29,000

-1,000

-3.33%

29,000

29,000

29,000

34

6-Feb

-10.77%

255.13%

Eermel

EER:MO

MNT

2,701

0

0.00%

2,800

2,800

2,701

0

3-Feb

-3.54%

-25.43%

Gobi 

GOV:MO

MNT

5,029

29

0.58%

5,000

5,029

5,000

609

6-Feb

-2.35%

-29.66%

Gutal

GTL:MO

MNT

3,300

0

0.00%

3,850

3,850

3,300

0

27-Jan

57.29%

Hi B Oil

HBO:MO

MNT

179

0

0.00%

179

179

170

0

3-Feb

-5.79%

-5.79%

Khukh Gan

HGN:MO

MNT

189

10

5.59%

180

189

180

15,170

6-Feb

-5.50%

5.00%

Hermes Centre

HRM:MO

MNT

73

-2

-2.67%

75

75

73

21,445

6-Feb

30.36%

19.67%

Jenko Tour Bureau

JTB:MO

MNT

95

0

0.00%

95

95

95

44

6-Feb

1.06%

-7.77%

Telecom Mongolia

MCH:MO

MNT

2,500

0

0.00%

2,500

2,500

2,500

25

6-Feb

-7.41%

-37.48%

Mongolia Dev Res

MDR:MO

MNT

950

0

0.00%

950

950

950

0

3-Feb

-5.94%

-44.12%

Moninjbar

MIB:MO

MNT

141

0

0.00%

140

141

140

0

3-Feb

8.46%

-17.06%

Mongol Nekhmel

MNH:MO

MNT

4,000

0

0.00%

3,100

4,000

3,100

0

3-Feb

21.95%

102.02%

Hotel Mongolia

MSH:MO

MNT

800

0

0.00%

750

800

750

0

3-Feb

-11.01%

6.67%

Darkhan Nekhii

NEH:MO

MNT

6,500

0

0.00%

6,499

6,500

6,499

499

6-Feb

4.84%

-33.67%

Nak Tulsh

NKT:MO

MNT

186

0

0.00%

186

186

186

1,001

6-Feb

6.29%

-41.32%

Olloo

OLL:MO

MNT

161

1

0.63%

162

162

160

2,400

6-Feb

-32.64%

-4.73%

Remikon 

RMC:MO

MNT

170

0

0.00%

170

170

170

24,970

6-Feb

-3.41%

31.78%

Sharyn Gol 

SHG:MO

MNT

11,500

0

0.00%

11,500

11,500

11,500

1,773

6-Feb

1.32%

-42.50%

Shivee Ovoo

SHV:MO

MNT

14,000

-200

-1.41%

14,200

14,200

14,000

98

6-Feb

-8.50%

-47.17%

Sor

SOR:MO

MNT

3,100

-100

-3.13%

3,100

3,100

3,100

261

6-Feb

-18.85%

82.35%

Suu 

SUU:MO

MNT

70,000

0

0.00%

66,666

70,000

66,666

0

2-Feb

7.69%

145.61%

Tav

TAV:MO

MNT

Talkh Chikher

TCK:MO

MNT

10,800

-300

-2.70%

10,800

10,800

10,800

23

6-Feb

2.86%

44.97%

Tavantolgoi

TTL:MO

MNT

10,870

-30

-0.28%

10,900

10,900

10,870

242

6-Feb

-1.18%

8.75%

State Dept Store 

UID:MO

MNT

500

25

5.26%

471

500

470

6,746

6-Feb

-13.79%

-25.71%

Ulaanbaatar Hotel

ULN:MO

MNT

51,000

0

0.00%

51,000

51,000

51,000

0

3-Feb

13.33%

60.13%

Mongol Savkhi

UYN:MO

MNT

2,000

38

1.94%

1,965

2,000

1,965

34

6-Feb

-22.69%

215.96%

Zoos Goyol

ZOO:MO

MNT

830

-20

-2.35%

831

831

830

165

6-Feb

-11.70%

-22.36%

HKEx

Solartech Int’l

1166:HK

HKD

0.174

-0.005

-2.79%

0.17

0.179

0.168

21,064,526

6-Feb

-1.69%

-77.11%

Winsway

1733:HK

HKD

2.07

0.11

5.61%

1.98

2.12

1.98

37,958,001

6-Feb

-9.61%

-51.99%

SouthGobi Resources

1878:HK

HKD

55.55

-1.25

-2.20%

56.9

56.9

54.65

16,950

6-Feb

21.95%

-53.51%

China Gold

2099:HK

HKD

24.35

-0.55

-2.21%

24.9

24.9

24.25

149,300

6-Feb

33.79%

-41.61%

CNNC Int’l

2302:HK

HKD

2.57

0.03

1.18%

2.58

2.64

2.45

2,605,000

6-Feb

27.23%

-63.49%

Real Gold Mining

246:HK

HKD

8.81

0

0.00%

8.81

8.81

8.81

0

6-Feb

0.00%

-26.70%

Mongolia Energy

276:HK

HKD

0.8

-0.02

-2.44%

0.83

0.85

0.79

49,869,900

6-Feb

14.29%

-64.44%

Zijin Mining

2899:HK

HKD

3.7

-0.08

-2.12%

3.9

3.9

3.64

69,076,510

6-Feb

26.71%

-5.43%

Mongolia Inv Group

402:HK

HKD

0.052

0

0.00%

0.052

0.053

0.049

14,008,000

6-Feb

13.04%

-49.51%

North Asia Resources

61:HK

HKD

0.27

0

0.00%

0.27

0.27

0.27

235,000

6-Feb

21.62%

-79.55%

China Daye Non-Fer.

661:HK

HKD

0.41

-0.005

-1.20%

0.42

0.42

0.41

2,112,000

6-Feb

-10.87%

-31.67%

Bestway Int’l

718:HK

HKD

0.05

-0.002

-3.85%

0.05

0.05

0.05

480,000

6-Feb

-18.03%

-59.35%

Asia Coal

835:HK

HKD

0.097

0

0.00%

0.097

0.097

0.097

400,000

6-Feb

-7.62%

-60.57%

Mongolian Mining

975:HK

HKD

6.7

0.16

2.45%

6.72

6.97

6.65

3,706,788

6-Feb

14.73%

-38.53%

SGX

LionGold

LIGO:SP

SGD

0.895

0

0.00%

0.89

0.895

0.89

0

6-Feb

2.87%

25.17%

LSE

Central Asia Metals

CAML:LN

GBp

87

1

1.16%

84

87

84

62,629

6-Feb

52.97%

-3.87%

Petro Matad

MATD:LN

GBp

30.25

0

0.00%

30.5

30.5

30.25

140,836

6-Feb

22.22%

-76.64%

Metal-Tech

MTT:LN

GBp

4.25

0

0.00%

4.25

4.25

4.25

17,000

6-Feb

13.33%

-66.00%

Nova Resources

NOVA:LN

GBp

8.75

-0.5

-5.41%

9.25

9.25

8.75

125,000

6-Feb

268.42%

337.50%

Origo Partners

OPP:LN

GBp

30.625

-0.875

-2.78%

31.5

31.5

30.625

105,988

6-Feb

-12.50%

-26.65%

Canada

Aberdeen Int’l

AAB:CN

CAD

0.6

-0.02

-3.23%

0.61

0.62

0.6

136,177

6-Feb

-7.69%

-22.04%

Altan Rio Minerals

AMO:CN

CAD

0.53

0

0.00%

0.53

0.53

0.53

0

3-Feb

Blue Zen Mem. Parks

BZM:CN

CAD

0.1

0.04

66.67%

0.1

0.1

0.1

1,400

6-Feb

100.00%

-80.00%

Centerra Gold

CG:CN

CAD

18.72

0.05

0.27%

18.67

19.28

18.54

358,759

6-Feb

4.00%

12.94%

China Gold

CGG:CN

CAD

3.14

-0.06

-1.88%

3.15

3.2

3.14

173,607

6-Feb

22.66%

-41.64%

Desert Eagle Res

DER:CN

CAD

0.45

0

0.00%

0.275

0.45

0.275

0

27-Jan

-72.22%

Denison Mines

DML:CN

CAD

1.81

0.04

2.26%

1.76

1.82

1.74

1,957,695

6-Feb

42.52%

-53.23%

East Asia Minerals

EAS:CN

CAD

0.74

0.1

15.63%

0.67

0.74

0.63

346,150

6-Feb

57.45%

-88.75%

Erdene Resource

ERD:CN

CAD

0.49

0.05

11.36%

0.45

0.49

0.44

188,050

6-Feb

30.67%

-68.79%

Entree Gold

ETG:CN

CAD

1.36

0

0.00%

1.344

1.37

1.344

12,500

6-Feb

9.68%

-54.97%

Fortress Minerals

FST:CN

CAD

3.8

0.04

1.06%

3.8

3.8

3.8

750

6-Feb

-7.32%

-29.63%

Gulfside Minerals

GMG:CN

CAD

0.08

0.01

14.29%

0.08

0.08

0.08

244,000

6-Feb

-5.88%

-5.88%

Global Met Coal Corp

GMZ:CN

CAD

0.14

0

0.00%

0.14

0.14

0.14

1,150

6-Feb

12.00%

Ivanhoe Energy

IE:CN

CAD

1

0.02

2.04%

0.97

1

0.97

112,021

6-Feb

-10.71%

-70.59%

Ivanhoe Mines

IVN:CN

CAD

17.04

0.1

0.59%

16.86

17.18

16.72

896,413

6-Feb

-5.80%

-39.47%

Kincora Copper

KCC:CN

CAD

0.285

-0.015

-5.00%

0.29

0.32

0.285

11,720

6-Feb

-8.06%

14.00%

Khan Resources

KRI:CN

CAD

0.175

0

0.00%

0.165

0.175

0.16

298,000

6-Feb

-12.50%

-69.30%

Lucky Strike

LKY:CN

CAD

0.28

0

0.00%

0.275

0.285

0.275

0

3-Feb

-21.13%

-61.64%

Meritus Minerals

MER:CN

CAD

0.035

0

0.00%

0.035

0.035

0.035

0

3-Feb

40.00%

-80.56%

Manas Petroleum

MNP:CN

CAD

0.295

0.015

5.36%

0.23

0.295

0.23

192,145

6-Feb

103.45%

Prophecy Coal

PCY:CN

CAD

0.44

-0.015

-3.30%

0.455

0.455

0.43

365,612

6-Feb

7.32%

-44.08%

Puget Ventures

PVS:CN

CAD

0.49

0

0.00%

0

17-Sep

SouthGobi Resources

SGQ:CN

CAD

7.1

-0.06

-0.84%

7.27

7.27

7.1

25,016

6-Feb

18.33%

-52.92%

Solomon Resources

SRB:CN

CAD

0.085

0

0.00%

0.085

0.085

0.085

0

2-Feb

21.43%

-59.52%

Undur Tolgoi Minerals

UTM:CN

CAD

0.2

0

0.00%

0.2

0.2

0.2

0

1-Feb

0.00%

Mongolia Growth Grp

YAK:CN

CAD

4.25

0

0.00%

4.28

4.3

4.2

19,950

6-Feb

8.97%

507.14%

US

Denison Mines

DNN:US

USD

1.8

0.03

1.69%

1.77

1.825

1.75

723,766

6-Feb

44.00%

-54.66%

Entree Gold

EGI:US

USD

1.35

-0.03

-2.17%

1.37

1.38

1.34

39,195

6-Feb

12.50%

-55.59%

Ivanhoe Energy

IVAN:US

USD

1

0

0.00%

1

1.01

0.98

327,864

6-Feb

-10.71%

-70.89%

Ivanhoe Mines

IVN:US

USD

17.07

0.03

0.18%

16.85

17.24

16.75

1,604,048

6-Feb

-3.67%

-39.96%

Manas Petroleum

MNAP:US

USD

0.29

0.051

21.34%

0.239

0.34

0.2225

1,070,575

6-Feb

96.61%

-52.85%

Mongolia Growth Grp

MNGGF:US

USD