Top Banner (600 pixels wide)
Cover Mongolia Fundraising Proposals
Here are 3 fundraising ideas I'm thinking about:
1) Donation Scheme for Individuals: To pilot the donation scheme starting in the near future. I will set up a PayPal account for anyone residing overseas, and a local bank account for individuals residing in Mongolia.
a. Starting from May, I would run two different versions of the newswire. One to donors the current version, and a cut version to non-donors. A cut version would mean just the headlines and first few paragraphs with no links.
b. Donations could be on a quarterly basis
2) Banner Advertising: Also, I'm proposing an opportunity to advertise on the newswire as well. A top banner as you see above and 6 Middle Banners seen below, positioned between sections 1. Overseas Market 2. Domestic Market 3. Economy 4. Politics 5. Business 6. Diplomacy and 7. Social, Environmental, Others. Pricing proposals could be:
a. ₮50,000 per issue for Top Banner,
b. ₮45,000 per issue for Middle Banner 1,
c. ₮40,000 per issue for Middle Banner 2,
d. ₮35,000 per issue for Middle Banner 3,
e. ₮40,000 per issue for Middle Banner 4,
f. ₮25,000 per issue for Middle Banner 5, and
g. ₮20,000 per issue for Middle Banner 6
3) Corporate Subscription: Since the newswire is going to be split into a full and a cut version, I thought perhaps this would create an incentive for individuals to convince their companies to pay for the subscription. Pricing scheme could be in the range of ₮100,000-₮500,000 a month depending on company size and relevance of my newswire to their business.
a. Best way for companies to take it would be: Wouldn't it be much more expensive than ₮500,000 to hire a person to do this type of market research?
HAR closed flat on Monday at 11c
Ocean Equities' Haranga Note: Resource Uplift for Selenge Iron Ore Project Due in Four Weeks
April 8 (Ocean Equities) --
Haranga Resources Ltd ('Haranga' or the 'Company', ASX:HAR), the Mongolian iron ore exploration and development company, has announced that the final Davis Tube Recovery ('DTR') tests have now been completed on all of the mineralized core from then 2012 drill program at the Selenge iron ore project in Mongolia. The results from the testwork will be added to the resource model for the Selenge iron ore project which is expected to be significantly increased and enhanced in the resource update in approximately four weeks. Haranga expects to submit its application for a Mining License for the Selenge iron ore project shortly after the publication of the pending resource update.
Haranga is also planning on completing an updated independent assessment on the project economics of the Selenge project based on the upcoming resource estimate. Following the updated independent assessment Haranga will commence a full Feasibility Study later in the year.
Throughout 2012 Haranga completed over 35,000m of diamond drilling with the results from the drilling campaign forming the eagerly awaited resource update on the Selenge iron ore project, including an enhanced JORC compliant resource at Bayantsogt and initial JORC compliant resources on the Dund Bulag and Undur Ukhaa deposits. Haranga has a cumulative exploration target for the Selenge project of 250-400Mt of iron ore. Given these targets have yet to be fully drilled, we expect the resource update to be announced in four weeks to be approximately 200Mt.
The Selenge iron ore project is located nearby the Eruu Gol iron ore mine that exported approximately five million tonnes of magnetite concentrate last year via the newly constructed rail spur to the main trans-Mongolian rail line. The Eruu Gol deposit was valued at approximately US$2Bn based on a 2009 investment by China Investment Corporation. Haranga has a signed Memorandum of Understanding with both the Mongolian Railway Authority and the Ministry for Transportation for up to 5Mtpa of export rail capacity for material produced from Selenge from 2015 onwards.
Haranga plans on exporting its magnetite concentrate to inland north-east Chinese steel mills where the current price for 66% Fe magnetite concentrate is still above US$150/t. The premium above the spot price for iron ore represents the higher value-in-use benefits from higher grade ore and lower impurities, and the high transport costs for seaborne ore attempting to access the inland regions of China that are dependent upon declining Chinese domestic magnetite production.
We believe that once Haranga releases its updated resource statement on the Selenge iron ore project the Company will be subjected to increased interest from other parties including Iron Mining International ('IMI') which owns the Eruu Gol mine.
The prospects that make up the Selenge iron ore project would be a valuable source of ore supporting the extension of Eruu Gol's mine life and the potential ramping up of operations at Eruu Gol. The release of the eagerly awaited resource statement will be a key catalyst for Haranga which we expect should lead to further external interest in the Company as an independent verified resource for the Selenge project will have been confirmed.
61 closed -1.39% to HK$0.355 on Monday
NAR: UPDATE ON THE CLAIMS
April 8, North Asia Resources Holdings Limited (HK:61) --
Reference is made to (i) the announcement dated 27 August 2012 in relation to a claim filed by Mountain Sky Resources Holdings Limited (the "Claimant") on 21 August 2012 in the High Court of Justice of the British Islands ("BVI Proceedings") against Mountain Sky Resources (Mongolia) Limited, Ultra Asset International Limited, North Asia Resources Holdings Limited (the "Company") and Guang Cheng Group Limited (together, the "Parties"); (ii) the announcements issued by the Company dated 8 October 2012, 29 November 2012, 14 December 2012, 28 February 2013, 13 March 2013, 18 March 2013 relating to, among other things, (a) the acquisition of the entire issued share capital of Lexing Holdings Limited; (b) the disposal of the entire issued shares of, and the shareholder's loans due by, North Asia Resources Group Limited and Good Loyal Group Limited; (c) the subscription of ordinary shares and convertible preference shares of the Company by Business Ally Investments Limited; and (d) the alteration of the terms of the existing convertible bonds of the Company (together, the "Transactions"); and (iii) the circular of the Company dated 25 March 2013 (the "Circular") in relation to, among other things, the Transactions. Capitalised terms used herein have the same meanings as those defined in the Circular unless otherwise specified.
As disclosed on the Circular, at the case management conference convened by the BVI Commercial Court Registry on 12 March 2013, the judge adjourned the hearing to a date to be fixed by the Claimant so that the Claimant may address the judge on the basis upon which they are alleging that there was unfair prejudice caused by the Parties. The conference was subsequently held on 27 March 2013 during which the judge set directions in relation to the timetable to take the BVI Proceedings to trial which will be fixed for hearing before the end of September 2013. After business hours in Hong Kong on 5 April 2013, the Company was served with an application by the Claimant for an ex-parte injunction hearing listed for 9 April 2013 (BVI time). The Claimant is seeking an order that Ultra Asset International Ltd. and Mountain Sky Resources (Mongolia) Limited be prohibited from entering into or completing the Transactions. For the avoidance of doubt, the SGM can proceed on 12 April 2013 in any event. Whilst the Parties are seeking an amicable resolution on the matter, even if the injunction is granted, there will be a further hearing within 28 days for a full hearing of the injunction application by which time the Parties will have an opportunity to file evidence and submissions in response to the application.
Further announcement(s) will be made by the Company as and when appropriate if there is any material development on the Claims.
276 closed -3.13% to HK$0.31 on Monday
MEC: GRANT OF SHARE OPTIONS
April 8 --
This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The board of directors (the "Board") of Mongolia Energy Corporation Limited (the "Company") announces that after trading hours on 8 April 2013, the Company offered to grant share options to eligible participants, subject to their respective acceptance, to subscribe for a total of 66,500,000 ordinary shares of HK$0.02 each in the capital of the Company, under the share option scheme adopted by the Company on 30 August 2012, the details of which are set out below:
Date of grant :
8 April 2013
Exercise price of share options :
Number of share options granted :
Closing price of the shares of the Company on the date of grant :
Exercise period :
Five years commencing from 8 April 2013 to 7 April 2018
Among the share options granted, 22,000,000 share options were granted to the directors of the Company, details of which are as follows:
Name of Grantees
Number of Share
Mr. LO Lin Shing, Simon (Chairman)
Ms. Yvette ONG
Mr. TO Hin Tsun, Gerald
Independent Non-executive Directors
Mr. Peter PUN OBE, JP
Mr. TSUI Hing Chuen, William JP
Mr. LAU Wai Piu
975 closed -1.88% to HK$2.61
MMC: Annual Report 2012
April 8, Mongolian Mining Corporation Limited (HK:975) --
Management Discussion and Analysis
In 2012, the Group continued to implement its strategy of creating a fully integrated coking coal mining, processing, transportation and marketing platform. As a result, the Group solidified its position as the largest coal producer and exporter of washed coking coal in Mongolia. According to data issued by the National Statistical Office ("NSO") of Mongolia, the Group exported approximately 5.6 Mt of coal products in 2012, representing around 26.9% volume share in the Mongolian total coal exports (2011: 4.8 Mt and 22.7%, respectively).
This strategy has enabled the Group to produce and sell washed coal products under its own brand name, further strengthening its position as a reliable supplier of high quality coking coal products, expanding its end-user customer base, and boosting its competitiveness in the international market.
The Chinese market remains the Group's primary destination for its coal products, and the Group has continued to strengthen relations with its Chinese end-user customers. In addition, the Group began to explore diversification opportunities and has successfully delivered initial bulk shipments of its HCC to customers at seaborne market such as Japan, India and Taiwan.
In line with the Group's long-term vision to diversify its business portfolio by transforming from a single asset company to a multiple asset based operations, BN mine launched its commercial mining operations in February 2012. The Group believes that the close proximity of the UHG and the BN mines provides a unique opportunity for synergic development. The sharing of coal handling and processing facilities, increased utilisation of coal transportation and logistics infrastructure, joint functional and operational management and marketing platform are expected to reduce the requirements for operating costs and the capital expenditure for development.
The Group's current coal handling and processing annual capacity has reached 10.0 Mt and is scheduled to reach 15.0 Mt with the expected commissioning of the third module in the first half of 2013.
In March 2012, the Group successfully issued the Senior Notes. This enabled the Group to maintain its cash position under challenging market conditions and support the major production and infrastructure developments it had planned.
MMC: NOTICE OF ANNUAL GENERAL MEETING
April 8 -- NOTICE IS HEREBY GIVEN that the annual general meeting (the "Meeting") of Mongolian Mining Corporation (the "Company") will be held at Tianshan & Lushan Room, Level 5, Island Shangri-La, Hong Kong, Two Pacific Place, Supreme Court Road, Central, Hong Kong on Monday, 13 May 2013 at 10:00 a.m. for the following purposes:
Mogi: forgive me for my comments below
Turquoise Hill And Rio Tinto: Are They Good For Mongolia?
April 8 (Emmet Kodesh via Seeking Alpha) The short answer is yes, definitely. Rio Tinto (RIO) and its subsidiary companies are the most productive, charitable and environmentally protective influence ever to arrive in that harsh land (Mogi: harsh? Yes, I have to agree I guess, but do you have to say it to my face, L). But there is another legitimate answer, "it depends" and another pertinent question: "is Mongolia good for RIO and Turquoise Hill (TRQ)?" (Mogi: hold on, why is there should be even a question about whether Mongolia is good for RIO, TRQ? These are businesses and they wouldn't be here if they remotely thought it wouldn't be good, no?) That answer and query will be considered after discussing the reasons that RIO and TRQ are very good for Mongolia if it wishes to join the modern world, its wealth and commerce, which is a challenging proposition (Mogi: excuse me?).
The development of vast mineral resources in Mongolia has been and continues to be plagued by Mongolian politics, global organizations and major powers both before and behind the curtain (Mogi: mistakes have been made, but it is all a balancing act towards a globally integrated economy. You can't transform an economy that never saw capitalism in its existence to what global investors want it to become). The main obstacle in the near future is elections for President and Parliament (Mogi: haha, parliament elections? Ok, I'm calm now, this guy doesn't know what he's talking). Originally scheduled for May, they now are tentatively set for late June. But often in the Far East one must be aware of 11th and 12th hour surprises. This article offers perspective on Mongolia for current, past and future investors for the vast potential and varied pitfalls of TRQ have shaken off many shareholders as its saga proceeds. Three of my previous pieces on this tale may be read here, here and here. Jon Springer also has an informative blog on Mongolia.
Rio Tinto is the parent company funding and hoping to profit (Mogi: exactly, to profit, don't mistake Rio for a charity organization) from development of the mines of Oyu Tolgoi (copper, gold, silver, cobalt and more (Mogi: hold on, cobalt and more? Seriously? Enough for a commercial scale? Don't think so) and Ovoot Tolgoi (mainly coal (Mogi: haha, MAINLY coal? Just coal last I heard). It owns a controlling 51% in TRQ and through it owns 58% of coal miner South Gobi Resources (SGQRF.PK) (Mogi: I was gonna let this go, but now I have to go for it. It's spelled SouthGobi, not South Gobi) whose top management it changed last fall. The north side of Oyu Tolgoi has a rich vein of gold being explored by Entrée Gold (EGI) which is about 24% owned by Rio directly and through TRQ. On February 15 EGI contracted with junior gold-streaming company Sandstorm Gold (SAND) that is providing $55 million for EGI's project in return for a $5 million future royalty and 17.857 million shares. EGI has licenses to land holding about 33% of Oyu Tolgoi's gold and 18% of its copper. This is the cluster of companies under Rio's aegis trying to develop and market the vast mineral resources in a land of 3.18 million people (Mogi: where is this guy getting his data on Mongolia? Not Wikipedia that's for sure. It's about 2.85 million now), many of them still living a semi-nomadic life (Mogi: still living? Feels like being talked about like the Amazon people).
Yes, TRQ and RIO are good for Mongolia (Mogi: don't forget vice-versa) but that depends on what Mongolia is and wants to be (Mogi: finally admits he knows nothing about what Mongolia is). It is in the United Nations like two hundred other states, most of them former colonies having little claim to cohesion. Except for its 150-year period of imperial pillage Mongolia has not had a state, coinage, literacy or other basics of nationhood (Mogi: oh no you didn't!!!!!!). A pastoral people organized by clans and loose tribal affiliation, there is territoriality but little sense of borders. Its religion is borrowed from India via China (Mogi excuse me, China? Well, I guess Tibet is technically part of China). Mongolians were dragged into the modern world by Soviet Russia and a Soviet-trained polemicist and journalist, Tsakhia Elbegdorj, now President, more recently buffed by Harvard, has guided it most of its brief period as a nation state (Mogi: I'm not calm anymore!). It is a vector of the world's three major power blocs: Oceania, Eurasia and East Asia in Orwell's useful terms or more narrowly, Russia, China and Anglo-America. Rio Tinto is an Anglo-Australian mining company, third largest in the world (market cap about $70 billion).
The IMF affirms Rio's policy that the government of Mongolia will receive about 71% of the proceeds of the mine whose current value is rated above $1.3 trillion (Mogi: 71% was just ONE of the possible scenarios if I'm not mistaken, not the definite forecast). They may be pricing it in another currency in a few years but you see the point: the project is vast.
TRQ processed the first ore concentrate on January 31 but phase 2 production set for June 2013 has been pushed back 3 years (Mogi: wrong again, the guy now proved himself he doesn't know about OT either. Phase I (open pit) IS scheduled to June 2013. Phase II involves the underground mining and it was always planned to commence a few years after Phase I) pending outcome of Mongolian elections now scheduled for June (Mogi: June elections is wrongly portrayed by people to have significant impact on local environment, but it's only an effect on investor perception). Political uncertainty and Mongolian government demands have led Rio to trim investment by 35% (Mogi: after having overrun it a significant amount. And it's naïve to blame only Mongolia for this, RIO as a company is focusing on global cost cutting). The target price on TRQ recently was cut from $13.75 to $10/share. Since mid-January TRQ's share price has made a descending series of 52-week lows, touching $5.86 in miner panic week (April 1 - 5) and rests at $6.16 as of this writing.
The Mongolian government, like most others, buys popularity and credence by borrowing money for "social welfare" programs. It operates by debt and this makes its politicians eager to grab money wherever they see it while decrying corruption. Politicians both in and out of power complain that RIO declines to renegotiate its royalty agreement and give them more money. They disguise their demands in terms likely to produce support from the UN and NGOs, concerns for the environment or "equal pay for equal work" though Mongolia is not known to have many PhDs in metallurgy, geology, chemistry, industrial engineering, management, etc. Mongolians abroad and at home need to learn Spengler's dictum that "through money, democracy becomes its own destroyer."
The deal is that Mongolia does not get its handsome royalty payments until RIO realizes the $6.5 billion it has sunk into Oyu Tolgoi so far. But Mongolian politicians want the money now. President Elbegdorj wants Mongolia to get a bigger royalty and more control of the project (Mogi: he said more control yes, but never did he say more royalty). It has become a refrain, a regular part of his stump speech (Mogi: regular? Wouldn't say so). "It's time for Mongolia to have Mongolian representation on the management team," Elbegdorj said February 1. "It's important that the government takes the Oyu Tolgoi matter into its own hands." This is foolish posturing. (Mogi: (rolling my eyes))
RIO need not proceed if it cannot get 30% or more back on an immense investment into what had been a huge patch of land that for millennia produced nothing but storms of yellow dust and occasional hordes of deadly marauders pillaging from Japan to central Europe, from Siberia to India, Persia and the Promised Land. (Mogi: this guy is definitely on my naughty list now. This makes it Forbes' Doug Schoen, Seeking Alpha's Bob Johnson, Business-Mongolia.com's "Valencia", and now Emmet)
Mongolia's alternatives to development of the sites by RIO, TRQ and South Gobi are Russian or Chinese companies. As to the former, Mongolia had seventy years under the Soviet Empire and got some concrete high rises, a few paved streets and a rudimentary sewer system. As to the China option they need only look south to the Heavenly Kingdom's province of Inner Mongolia which Chinese methods have turned into a toxic wasteland resembling Mordor in Lord of the Rings. They also might consider how the Chinese have dealt with the Tibetans. I have written before about RIO-TRQ's western sensitivity to the land, livestock and traditional folkways. This often overdone idealization of the primitive (Mogi: primitive? My god.) will serve and has served Mongolians well. Under Anglo-Australian development they will be able to continue their pastoral ways if they choose and if they can resist the allure of modern technology and pop culture (Mogi: I'm running out of "nice" words to say)
The toxins have begun: Mongolia has a rapper, "Gee," and here is his contribution to the debate: "People who have power, they will get the wealth, and they will get more powerful. People like us will not get it." Clearly he has drunk deeply of "the liberal mind-set," a Mongolian populist ready for Hollywood and its chic resentment. Perhaps he could consult to Danilo Medina, President of the Dominican Republic, last heard jerking the chain of Barrick Gold (ABX) for a bigger slice of the Pueblo Viejo project into which Barrick and Gold Corp (GG) have poured $4 billion after spending $5 million to clean up a pre-existing mine site.
But in Mongolia everything waits on politics. As of now, the elections remain unsettled as to date (Mogi: late June, exact date you'll find out in the next few days) and who, if anyone, will oppose President Elbegdorj (Mogi: the law prevents election campaigning till, if I'm not mistaken, 2 months before the elections. Also see this March 26 update on the election from the "Office for Democratic Institutions and Human Rights" located in that bastion of civil rights, Warsaw.
That brings us to the other answer to the question of whether modern mining technology and wealth in the form of RIO is good for Mongolia. As above, the simple answer is yes: a more nuanced answer is it depends on whether Mongolians ever figure out if it is better to be a pastoral people ruled and mistreated by Russia or China or hooked more elegantly into the matrices of the digital world, screen-spectacles, consumerism, urbanization and sedentary Western ways (Mogi: should I even try now? Didn't you see pictures of satellite dishes and solar panels on those pastoral people??). One readily could make the case that a pastoral lifestyle is infinitely richer, more sensuous, human, perceptively acute and in some ways healthy than being connected and enslaved to a grid, manipulated and degraded by politicians, political methods and public school conditioning that softens mind and spirit. Theoretically one could balance the two worlds: I hope Mongolians can for they will have the Russians, the Chinese or the Anglo-American bloc developing their mineral wealth and making their barren land bloom. They should count their lucky stars that Robert Friedland arrived with Ivanhoe Mining (Mogi: can't even spell the name correctly. Ivanhoe Mines, not Ivanhoe Mining) and that in April 2012 RIO bought him out (Mogi: no RIO has not, Friedland is the 2nd largest shareholder after Rio I believe) and continued the work.
Lastly, are Mongolia and its grasping, big-power tutored politicians, tools of NGOs (non-governmental organizations) good for Rio Tinto and TRQ? The answer for RIO is yes but it will need plenty of Alka Seltzer and patience and plenty of guarantees: maybe hostages would help (that's a joke). Its relations with lenders seem good based on a recent $3 billion loan pledge from the EBRD (European Bank for Reconstruction and Development) and a host of Australian, European and Japanese Banks. They know RIO can repay the amount with a few months of the project's production (Mogi: wait, just a FEW months? I'm regretting I even included this in my newswire now, but I'm sure everyone will find it anyway, might as well put some comments on it): in fact, RIO could repay even if it decides to shut it down (Mogi: seriously, really? Another $3bn write down? Do you seriously think Rio would do that?) . An essential component of the financing is that it is "insured against political risks by the World Bank's Multilateral Investment Guarantee Agency."
Such insurance is essential as the experience of Vancouver-based Entrée Gold shows. On February 25, a wire report came that their license to develop had been cancelled by Mongolia's Mineral Resources Authority. The next day EGI issued a press release denying a cancellation and saying that "Entrée is in discussion with the Government, RIO and TRQ on this matter." On March 28, EGI's fiscal 2012 report noted "continuing negotiations." CEO Greg Crowe mentioned the "negative effects" on production relating to Mongolia's upcoming election and, of note to investors generally, "global economic contraction." On shrinking growth worldwide see my previous piece examining the thesis for Precious Metals, II. The information on major global mining, construction and agricultural companies is vital to all investors.
Every time I read about Mongolia I'm reminded of a brief exchange I had with an Indian-American software engineer who travels the world on business. Regarding his experience in East Asia he said, "There's always a problem and it's never their fault." That fits the situation in Mongolia. So, is Mongolia good for RIO, TRQ, SGQRF.PK, EGI and their shareholders? Yes, if RIO remains very firm with the locals (Mogi: haha, like parenting a child huh?), if the locals get smart about their interests, politicians and neighbors and especially because RIO is "insured against political risks by the World Bank's Multilateral Investment Guaranty Agency." Thus they are more soundly capitalized than the US Treasury.
Takeaway: Even more than other miners, TRQ, SGQRF and EGI will be volatile and thus better for trading than long term holdings, at least until production is underway a year or more. There are many good mining plays for which readers may consult my previous articles on this sector. (Mogi: aaaahaa! Now I see where he was leading to. Trying to get Mongolia investors to play on his other stuff)
Constant uncertainty typifies RIO's experience in Mongolia whose people don't realize (Mogi: it's normal I'm feeling like physically hurting this guy right?) that their politicians are killing a goose that will lay golden and copper eggs for them. Good luck, RIO, good thing you got that insurance for political risks. Mongolians, wake up! RIO will add wealth and best protect the primal beauty of your land. Be moderate in your embrace of the modern world and be skeptical about politicians.
Middle Banner 1 (600 pixels wide)
BDSec Daily Update: STATE DEPARTMENT STORE CLOSED UP 9%
5 April 2013, Friday (BDSec) – On the Mongolian Stock Exchange, MNT 41 million or USD 30 thousand worth of 16,456 shares of 19 companies were traded. State Department Store (UID) was the biggest gainer and closed up 9.21 percent followed by Mongol Savkhi (5.86 percent).
Sharyn Gol (SHG), one of the 3 largest thermal coal producers in Mongolia, dropped 3.57 percent today to close at MNT 8,100. Bishrelt Industrial (HHC) and Khishig Uul (HSX) from B Board gained 11.73 percent and 7.44 percent, respectively.
BDSec: A Quantitative Look at Mongolian Equities
April 8 (BDSec) Despite 2012 being a challenging year for investors in local and foreign listed Mongolian equities, the financial performance for local companies was quite good. Currently, many markets around the world are hitting multi year highs, while the MSE Top 20 recently touched a 26 month low, confounding Mongolia focused investors.
Uncertainty around the Oyu Tolgoi (OT) Investment Agreement and other large projects has clearly spooked foreign investment, with FDI down by over 40% in 2012. It continues to be our belief that the issues surrounding OT will be resolved, allowing the Mongolian economy to get back on track. However, resolution may not occur until after the Presidential Election, which is due to take place in late June (Mogi: I'm hoping it might get resolved before the elections as it will be held towards the end of June and OT commercial production is scheduled in "June"). Populous political rhetoric is already beginning and will no doubt get more intense, as the election looms (Mogi: populous yes, but actually the opposition has started to blame the government for decrease in foreign investment, decrease in growth). During this process, investors will not only be able to buy local stocks at dirt cheap prices, but should also find pockets of liquidity, which is typically illusive.
To give investors a different and broader view of local companies, we ran three different quantitative filters for MSE listed stocks which include separate Growth, Value, and Proprietary screens. We assigned numerical values to metrics specific to each discipline, with a maximum of 20 total possible points. We weight these metrics differently to reflect unique aspects to Mongolian accounting and business practices. Unfortunately, we had to exclude many companies from our final lists based on a lack of liquidity. There are several MSE stocks that have no bid or offer and haven't traded in months. Some of these companies had exceptional scores based on our criteria and we will be approaching many of them soon in the hopes they will sell equity or debt to our investors.
We applied several traditional growth metrics, with a proprietary weighting, which yielded the following list of 22 MSE stocks. On average, these companies had a median 2 year Revenue and Net Profit CAGR of 37.5% and 53.85, respectively.
On a year on year basis, Revenue grew 26.1%, while EPS growth came in at 32.5%, this during a year where real GDP growth steadily declined to settle in the low teens. Most impressive in our view is how cheap this growth can be bought for, as this basket of stocks currently trade with a trailing P/E and P/B of 11.4x and 1.2x, respectively.
Table 1. Growth Screen
April 8 (MIBG) On February 6th 2013 the Financial Regulatory Commission (FRC) of Mongolia approved its operations plan for the securities market that will set the outlook for the next three years, up to 2016.
With the ending of the previous operational strategy, which managed the development of the market from 2009 to 2012 there were a number of key developments that were accomplished. These included the passing of a revised Company Law including drastic improvements on issues such as corporate governance, the rights and duties of majority and minority shareholders, as well as board and executive management responsibilities. Additionally, new legislation governing the use and management of Asset Backed Securities was also passed. In 2012, the Mongolian Stock Exchange in cooperation with the London Stock Exchange introduced the new Millennium IT Trading Platform and a T+3 clearing and settlement system. This developed was aimed at bringing the domestic market closer in line with common international standards.
As of November 1st 2012 the annual trading on the MSE increased by more than five times the turnover of 2009. While we do agree that many of the developments listed above have contributed to the professionalism of the market we would argue that the majority of this increase is a reflection of the economic conditions and the increased popularity in the Mongolian story that we have experienced over the past several years. Additionally, it is important to note that the Mongolian Securities Market plays a small role in the overall Mongolian financial sector. As of Dec 31st 2012 the total market cap of MSE listed companies reached 1.8 Trillion MNT, approximately 12.9% of the last years GDP. This represents 4.4% of the total financial market compared to the banking sector which is regulated by the Central Bank and controls 95.6%.
Needless to say, the Mongolian economy has grown rapidly since 2009 and even under the current global economic conditions we have seen international institutions such as the IMF projecting a GDP growth rate of 15.7 per cent in 2013.
Based on our review of the new operations strategy the FRC seems to be focused on increasing the market capitalization of the stock exchange while clarifying much needed legislation. This will include ongoing works towards the International Organization of Securities Commissions (IOSCO) Memorandum, delivery of the Draft Investment Fund Law, and a focused effort towards a supportive environment for foreign investors to invest in the domestic securities market. The FRC has stated that they will work diligently towards these goals and will intensify their cooperation with the related Government bodies in order to deliver the most efficient and supportive securities market environment for all investors.
Middle Banner 2 (600 pixels wide)
BoM issues 1-week bills
April 8 (Bank of Mongolia) BoM issues 1 week bills worth MNT 68.5 billion at a weighted interest rate of 12.50 percent per annum /For previous auctions click here/
MIBG: Mongol Bank Looking to Play Key Role in Reviving Economy, Real Estate Sector
April 8 (MIBG) On April 5th the Mongol Bank announced that it is lowering its policy rate by 1.00% to 11.50%. It appears that the Mongol Bank is looking to play a leading role in reviving the economy, specifically the real estate sector. Previously the central bank lowered the rate 0.75% to 12.50% on January 25th of this year, which was again aimed at controlling inflation.
The newly formed Monetary Policy Council has voiced its concerns over decreasing foreign trade as well as decreasing foreign direct investments into the country. Foreign trade has fallen by 10% YoY during the first two months of 2013 as foreign investment fell by more than 40% as we have reported previously.
Even though foreign direct investment will be the most important factor for the economic growth of the country we feel that Mongol Bank is taking aggressive measures to try and sustain the increasing FDI that has been experienced for the past 3 years.
Following various meetings and roundtable discussions that MIBG has participated in we feel that Mongol Bank may also play a key role in the country's real estate sector. The Mongol Bank appears to be positioning themselves to purchase mortgage loan packages from the country's commercial banks through Mongolian Mortgage Corporation. However, as the Mongol Bank uses various tactics to keep the country's economic growth moving forward by providing a trouble free financial sector it is in the lawmakers' hands to revive the key driver of the Mongolian economy- foreign direct investment.
April 8 (MIBG) Parliament approved the Government of Mongolia's 2013 fiscal budget with projected revenues of 7,256.4 Billion MNT (5.18 Billion USD) and expenditures of 7,442.9 Billion MNT (5.31 Billion USD). In February collected revenues reached 97.1% of the monthly budget while spending reached 60.5%, as reported by the Ministry of Finance. This resulted in a surplus of 83.8 Billion MNT (59.9 Million USD). Similar performance occurred in January, which also saw a surplus of 72.4 Billion MNT (51.7 Million USD).
One item that drew our attention was the performance of the Human Development Fund's (HDF) February revenue where 21.3 Billion MNT (15.2 Million USD) was collected. This represents a shortfall of 45.5% over planned revenues. The Ministry of Finance has explained that this shortage is connected to the 13.5 Billion MNT (9.6 Million USD) shortfall in minerals royalties as well as the 4.2 Billion MNT (3 Million USD) shortfall in progressive minerals royalty revenue.
Middle Banner 3 (600 pixels wide)
PM AND GROUP FOUND SAFE AFTER HIKE GOES WRONG
April 8 (InfoMongolia) The Prime Minister N.Altankhuyag and other 70 people, who had lost in snow storm when was going down after climbing the Mt. Burkhan Khaldun, Khentii Aimag last Sunday, April 07, has been found safe and returned today to Ulaanbaatar city by two helicopters on April 08, 2013.
The climb had started on Sunday morning and was scheduled to meet the hikers afternoon, but due to bad weather condition they did not show up even communication had been lost and a camp waiting them down of the mountain called an emergency from Ulaanbaatar.
Accordingly, at the initiative by President Ts.Elbegdorj a rescue group had been sent by National Emergency Management Agency (NEMA), after which two groups had been found and a location of the Premier had been established.
By Monday morning, a helicopter began transporting the people by groups, one led by Prime Minister, the NEMA reported that all the people had been found safe and collected at their camp, currently Premier N.Altankhuyag has been transported to Ulaanbaatar city and is under treatment at the Second General Hospital of the city.
Also, Minister of the Cabinet Office of the Government of Mongolia Ch.Saikhanbileg was in the group of travelers, said officials.
April 8 (MIBG) This week is expected to see Parliament sit on the announced revisions to the Strategic Entities Foreign Investment Law (SEFIL). The changes that we have previously announced will result in the law regulating only the activities of foreign State Owned Enterprises (SOEs) and will exclude private companies and investors. However, we have since heard that the legislation may be scrapped completely.
Close sources to MIBG have informed us that the Ministry of Economic Development is preparing its own legislation that will aim to govern all investment into the country. While we have yet to see a Draft of this law we have been told that it will strongly embrace free market principles and will be more open to foreign investment than recent legislation.
While this is still a rumor that we have not been unable to confirm with the Government we would not be surprised if such a brash move was made. That said, the changes that have been announced by the Prime Minister do suggest that SEFIL could be amicable to investors. If the amended SEFIL were to be passed it could help stabilize the legislative risks currently being perceived by investors and would act as a catalyst for deals to be completed.
MIBG: An Interesting Start To The Spring Session
April 8 (MIBG) The spring session of Parliament opened on the 5th of April. The morning session included a speech from the President that involved very strong commentary on the importance of the capital markets. This included an appeal to Mongolians regarding public ownership where he stated that the country's wealth should be managed through capital markets rather than Government ownership. President Elbegdorj also delivered strong words on corruption, bureaucratic "red tape", and the importance of democratic and free market values.
Members of both the MPP and MPRP left the Parliamentary hall during the Presidential speech in order to join the rally on Sukhbaatar Square which demanded the resignation of the cabinet pointing to decreased economic growth, inflation, and poverty. It is a common ritual in Mongolia's spring politics for demonstrations on the central square to take place. However, this year there were very few populist or anti-foreign investment slogans being chanted during the rally which may point to a growing understanding of the importance of FDI for Mongolia's future.
At this time the MPRP held a separate press conference and told reporters of its intention to request the resignation of the Minister of Justice, Mr. Temuujin. The MPRP have demanded on a number of occasions that former President Enkhbayar, who is currently serving his prison sentence at a Government hospital, should be allowed to travel to a foreign country to seek medical attention as his illness is "undiagnosable" in Mongolia. We feel that Mr. Temuujin's popularity among the public is growing and if the MPRP submits an official request for the Minister's resignation, the likelihood that it would occur is very minimal.
Still, the Democratic Party will likely face some headwinds as one of its key figures and the Deputy Speaker of Parliament Mr. Bayartsogt was reported as having a Swiss bank account with a balance of more than $1 million USD. Shortly after the information was released by the International Consortium of Investigative Journalists and publicized by the Guardian, Mr. Bayartsogt held a press conference providing some clarity on the situation. He has admitted to the existence of the account but corrected the original report by saying that the account was inactive with a balance of 1,658 Euros. He said that he will be responsible for not including the account details on his income statement and expressed his readiness to accept a penalty that will be issued by Parliament. This may include his resignation as the Deputy Speaker of Parliament.
Middle Banner 4 (600 pixels wide)
Petro China connecting wells with pipelines
April 8 (news.mn) Petro China Daqing Tamsag LLC, an oil exploration and exploitation company operating in the Tamsag area of Matad sum, Dornod aimag, has started connecting oil wells with transmission tubes.
The 100 percent Chinese owned Petro China Daqing Tamsag LLC, a subsidiary of the Daqing Oilfield Company Ltd, is starting almost 500 oil wells out of the drilled 521 this year. The company that found 410 thousand tons of oil last year has planned to explore for 650 thousand tons more this year.
The additional 200 thousand tons of oil is due to the construction of new transmission tubes. Petro China Daqing Tamsag is the largest of four oil exploration companies in Dornod aimag.
Petro China Daqing Tamsag bought its exploration license from "Soko International" and has carried out oil operation since 2006 with the promise to build roads between Tamsag and Bichigt border crossing point by 2011. As of yet no road has been built.
The company exports 80 to 100 trucks of oil to China from Tamsag to the Bichigt border crossing point a day and caused the creation of 31 tracks.
The Speaker of Parliament, Zandaakhuu Enkhbold, during a visit in Dornod a month ago, said that "If the company fails to build road transportation their permit is not allowed."
The company also extracts oil in Khulunbuir aimag, neighboring the Tamsag area, but here it is transported via tubes to the processing plant instead of trucks.
Import of swine and chicken products banned
April 8 (news.mn) WHO has released a warning about a deadly outbreak of a new kind of bird flu H7N9 that has now affected 16 people and killed six in China.
The State Specialized Inspection Agency has ordered the Specialized Inspection Office in the City and Aimags to be aware of the possibility of H7N9 virus outbreaks so the risk can be contained.
The State Specialized Agency pushed inspectors to especially check at the Customs border points.
The Agency has temporally banned importing swine and poultry products and ordered vehicles that are making the border crossing to be antisepticised by April 5th because of the H7N9 virus outbreak in China.
Contents of 700 cargo boxes headed to Mongolia disappears at Belarus customs
April 8 (news.mn) Over 700 cargo boxes being shipped by an international cargo service were snatched, leaving hundreds of people who were robbed unsure of where to claim the compensation.
Containers shipped by German IFCC freight shipper to Mongolia were inspected by Brest Customs Control officers in Belarus who claimed there might be prohibited goods in the cargo.
When the cargo boxes were removed from the train, it turns out they had been emptied of their goods rather than having an inspection. Over 700 boxes of 40 tons of 288 people all appears to have been uncovered and missing.
Customers complained about their missing items and belongings that were being sent to their families in their home country. Reportedly there was no box that had not been broken and all jewelry and expensive items were missing.
But Brest Customs Control responded to the complaints that "Cargo boxes were inspected upon information about prohibited goods. Goods that were not disclosed on the customs document were seized. Seized goods included detergent, cream, perfume, computer, vacuum cleaner, car radio, home appliances, lampshade and musical instrument."
Cargo boxes sent from Europe usually transited via Germany.
As soon as the cargo of 700 boxes arrived, it is inspected by Brest Custom. But this is not the first time that cargo boxes have been stolen from. Last time a theft was uncovered was when cargo boxes arrived in March.
But this time almost 80 percent of the cargo boxes had been snatched. Victims claimed compensation from the freight shipping company in Mongolia but it has failed to comment.
The Mongolian freight shipping companies connect only with the German freight companies and neither have any links with Brest Customs Control.
Consumers demand their compensation and have refused to accept their cargo boxes. Currently the cargo boxes are being stored in a warehouse.
The Mongolian Freight shipping company delivered a note to Germany but they have already agreed that there is an uncontrolled system between them.
But consumers still do not know where to complain and claim compensation for their stolen belongings.
Middle Banner 5 (600 pixels wide)
SPEAKER EXPRESSES MONGOLIA'S INTEREST IN PARTICIPATIN IN RUSSIA-CHINA ENERGY DEAL
April 8 (InfoMongolia) Mongolian legislative delegation led by the Speaker of the State Great Khural (Parliament) Z.Enkhbold is attending the Boao Forum for Asia Annual Conference 2013 being held in Boao city, Hainan Province, People's Republic of China from April 05 to April 08, 2013.
On April 07, 2013, Speaker Z.Enkhbold met with the President and General Secretary of the Communist Party of the People's Republic of China, Xi Jinping following the Opening Session.
At the beginning of the meeting Speaker Z.Enkhbold congratulated President Xi Jinping for his recent appointment of the term of service and emphasized to strengthen Mongolia-China strategic partnership and bring it into a new level of collaboration.
Speaker noted Mongolia's interest to enhance mutual frequent high-level visits, boost the cooperation in significant sectors such as mining, infrastructure, energy, oil and agriculture, moreover to implement trilateral project between Mongolia, China and Russia, and expressed his appreciation that China has been providing a pleasant condition for Mongolia as a landlocked country for its transit export to the third party. In addition, Speaker Z.Enkhbold underlined Mongolia's interest to be involved in recent progressing Russia-China deal on supplying oil, gas and energy between the two parts.
President Xi Jinping affirmed to pay continuing a great importance to China-Mongolia economic partnership and noted to strengthen mutual strategic trusts on issues concerning sovereignty, safety and territorial integrity, and enrich bilateral cooperation between the two countries. Mr. Xi Jinping also called for stronger exchanges in culture and education.
Russia-China deal on supplying oil, gas and energy
During his first foreign visit since being appointed, President Xi Jinping met with his counterpart of the Russian Federation Vladimir Putin to strengthen the ties between China and Russia that held in Moscow on March 22, 2013.
Following the negotiations, Russia's state-controlled oil giant Rosneft agreed the triple supplies to China to a million barrels per day, making China Russia's single biggest oil customer, with total exports rising from 34 million tons to 50 million tons by 2018 per year.
Progress was also made on a key gas deal stalled for more than six years over prices. The dispute was not settled, but a deal was signed between Gazprom and CNPC (China National Petroleum Corporation) that will see 38 billion cubic meters of gas a year delivered to China from 2018.
Now China and Russia are discussing the pipeline to be constructed for above deal, in which Mongolia is willing to take part in the project to pass through its territory.
SPEAKER AT THE BOAO FORUM FOR ASIA 2013
April 8 (Bank of Mongolia) Mongolian delegation led by the Speaker of the State Great Khural (Parliament) Z.Enkhbold attended opening of the plenary session of the Boao Forum for Asia Annual Conference 2013 themed "Asia Seeking Development for All: Restructuring, Responsibility & Cooperation" being held in Boao city, Hainan Province, People's Republic of China from April 05 to April 08, 2013.
At the Opening Plenary meeting held on Sunday, April 07, welcome remarks was delivered by Yasuo Fukuda, Chairman, Boao Forum for Asia, where keynote speech was addressed by Xi Jinping, President of the People's Republic of China, besides Head of States including Sultan of Brunei Darussalam, Presidents of Kazakhstan, Myanmar, Finland, United Mexican States, Peru, Zambia; Prime Ministers of Australia, Cambodia, New Zealand; Parliament Speakers of Algeria and Mongolia, and the President of the 67th Session of the United Nations General Assembly have delivered remarks respectively.
In his remarks Speaker Z.Enkhbold noted, "Asian countries should consider on sustainable development and make structural changes into economical reforms directed to sufficient economical progress. In conjunction, Mongolia trends to create new brands and services based on multi-structure of its economy, besides supporting other factors than mining, for instance investing into its infrastructure and industrial projects".
As part of Mongolian delegation, Vice-Chairwoman of Mongolia-China Parliamentary Group M.Batchimeg, Parliamentarians L.Enkh-Amgalan, S.Demberel, Deputy Foreign Minister D.Gankhuyag, and Ambassador of Mongolia to the PR of China Ts.Sukhbaatar are accompanying the Speaker of the Parliament.
During his attendance the Forum, Speaker Z.Enkhbold is scheduled to meet the President and General Secretary of the Communist Party of the People's Republic of China Xi Jinping and other high officials from legislative body of China.
The Boao Forum for Asia (BFA) hosts high-level forums for leaders from government, business and academia in Asia and other continents to share their vision on the most pressing issues in this dynamic region and the world at large. The BFA is modeled after the World Economic Forum held annually in Davos, Switzerland.
China and Mongolia should beef up cooperation, Xi says
April 8 (China Daily) China and Mongolia should take the chance to beef up cooperation as well as strategic mutual trust, President Xi Jinping told visiting Mongolian parliamentary speaker Zandaakhuu Enkhbold on Sunday.
The bilateral relationship is an important direction for China's diplomacy with neighbors, Xi said on the sidelines of the Boao Forum for Asia Annual Conference 2013.
Xi told the visiting chairman of the State Great Hural (parliament) of Mongolia that both sides should "show respect" on major issues including sovereignty, security and territorial integrity and take care of "each other's concerns".
Both sides should coordinate and promote the construction of infrastructure and financial cooperation, and China will cooperate with Mongolia in fields including intensive processing, new energy, agriculture and animal husbandry, Xi said.
Mongolia highly endorses China's neighborly friendship policy and hopes to maintain high-level mutual visits, Enkhbold said.
Bilateral cooperation is expected to be expanded in fields including the trade, energy and mineral sectors, agriculture and cross-border transportation, for which the Mongolian parliament is "willing to provide legal support", the speaker said.
In an exclusive interview with China Daily, Enkhbold said the economy is the "driving force" for the China-Mongolia strategic partnership.
Both nations upgraded their relations to the level of strategic partnership in 2011. "It is the highest level of cooperation Mongolia has so far reached with a foreign country," the parliamentary speaker said.
China has been a leading trade and investment partner for Mongolia.
Statistics show that bilateral trade in 2012 reached $6.6 billion and Mongolian exports to China amounted to around $3.9 billion, about 70 percent of Mongolia's total exports, according to the Chinese embassy in Mongolia.
The parliamentary speaker said "there are ample opportunities" ahead of the neighbors in various forms of cooperation - and economic cooperation will continue to serve as the driving force of bilateral ties.
Enkhbold highlighted the implementation of large projects, which he said would yield concrete results in the economic development of both countries.
Ulan Bator stresses the importance of the infrastructure sector as well as the sectors producing more value-added products in Mongolia. Opportunities are open for foreign investors, including the country's railway and energy sectors, he said.
"Given the geographic proximity of the two countries, each and every sector is full of opportunities to explore," he said, adding that tourism is among those areas in which greater bilateral cooperation is expected to occur.
Middle Banner 6 (600 pixels wide)
Social, Environmental and Other
Mongolian officials look to western Montana wildlife crossings as model
EVARO, April 8 (Missoulian) – The drone of traffic created a constant roar on U.S. Highway 93 early Monday as a delegation of Mongolian government officials joined scientists in climbing an earthen bank spanning the roadway.
Animal tracks left in the mud told them they weren't alone. A few deer had moved over the crossing earlier in the morning. Moose, bobcats and bears weren't far behind.
"With underpasses and overpasses, different species have different preferences for the type of structure they like to use," said Marcel Huijser, a research ecologist at Montana State University. "This is a long-term vision if grizzly bears are to strengthen their existing small populations, or recolonize areas where they used to be, decades ago."
Huijser led members of the Wildlife Conservation Society and a team of Mongolian officials, including those in the mining and energy sectors, on a tour of western Montana's wildlife crossings.
Half a world away, copper and gold mining has boomed at Mongolia's Oyu Tolgoi mine, a project so large it's expected to account for more than 30 percent of the nation's gross domestic product when fully operational.
To serve the project – the largest ever undertaken in Mongolia – government officials are planning an expansive transportation network, and they're racing to get ahead of the work.
If they do it right, they agreed Monday, the result might look similar to this network of wildlife crossings along Highway 93, with touches of a similar project along the railroad cutting Abo Canyon in New Mexico.
"We're trying to minimize the impact of mining and other development," said Buya Tulga, representing the Ministry of Environment and Green Development. "It's why we're studying here. We chose Montana because these are good examples of how to (enhance) the wildlife movement alongside the road."
Standing on the overpass with the tracks still soft in the Montana mud, Tulga expressed concern that as development races forward in Mongolia, habitat will be fragmented and the region's endangered species could be lost.
Much of that development is taking place south in the Gobi Desert and Mongolia's eastern steppe. The new Ulaanbaatar-Beijing railway may further bisect the region's prized habitat, jeopardizing the migration of several threatened species.
"Mongolia is facing a very big economic boom, which is mostly associated with mining," said Lkhagvasuren Badamjav, the leading scientist at Mongolia's Institute of Biology. "The development of this mining needs infrastructure development. But we need to build environmentally friendly, wildlife friendly roads."
Touring the stretch of Highway 93 south of Arlee, members of the delegation snapped pictures and scribbled notes, observing the crossings that offer wildlife safe passage under and over the roadway.
Yerjan Khabshai, representing the Ministry of Roads and Transportation, said that while the terrain here is different from the Gobi Desert, the tour has helped showcase what's possible in Mongolia before development begins.
"The biological diversity is different in our country than this area," said Khabshai. "We'll still learn a lot from the overpass and underpasses on this study tour. We have the opportunity to do this type of building at the same time we build our roads – not after. Learning this lesson is very important."
The Mongolian steppe remains one of the largest expanses of grassland in the world. The Gobi Desert, one of the last great wildernesses on the planet, covers 500,000 square miles, reaching across southern Mongolia into China.
It's an enormous landscape, spanning a region nearly four times that of Montana, and it's largely intact. But Mongolia is a developing nation, rich in resources that range from copper to coal. It's also rich in wildlife, with animals found nowhere else on the planet.
Kina Murphy, program director in Mongolia for the Wildlife Conservation Society, said the vast Gobi Desert and eastern steppe are home to the rare Bactrian camel, the Gobi bear, the Goitered gazelle, the Saiga antelope and Asiatic ass, among others.
Many of the species are considered threatened or critically endangered. If development takes place with no mind to habitat, some fear, the species could be lost forever.
But Murphy believes that nation's competing interests have a rare opportunity to come together and mitigate the impacts of development before they arise. The fact that members of the delegation have traveled together, landing halfway around the world to study Montana's crossings, shows the sincerity of their efforts.
In fact, Murphy added, representatives from the Oyu Tolgoi mine joined the Ministry of Environment and Green Development in funding the trip. Aid also was provided by the U.s. Agency for International Development and the Trust for Mutual Understanding, a partnership that unites U.S. and Mongolian scientists.
"They're here in a relaxed environment talking about how to put these crossings in before the problems arise," said Murphy. "Our goal is to equip the ministries and private sectors of Mongolia with the capacity to make informed decisions about what they can do to mitigate the impacts of mining and other industries."
SIGNING TO REPATRIATE MONGOLIA'S T. BATAAR TO BE HELD IN NEW YORK, MAY 7
April 8 (InfoMongolia) At the Cabinet meeting held on April 06, 2013, an Agreement to sign between the Government of Mongolia and the U.S. Immigration and Customs Enforcement affiliated the U.S. Department of Homeland Security was authorized to ink by Ambassador Extraordinary and Plenipotentiary of Mongolia to the United States B.Altangerel.
In the scope of the Agreement, it states to officially repatriate a nearly complete 70-million-year-old Tyrannosaurus Bataar skeleton to its homeland Mongolia. The document signing ceremony will take place in New York City, United States on May 07, 2013.
The latter fact regarding the Tyrannosaurus Bataar, that was approved being smuggled from the territory of Mongolia, was the order issued by the United States Federal Judge Honorable P. Kevin Castel to dispose of the Defendant Property according to law released on February 13, 2013.
Consequently the Case codenamed under 1:12-cv-04760-PKC was closed.
Therefore, a year-round lasted case of "Tyrannosaurus Bataar" dinosaur skeleton was concluded in favor of Mongolia, but yet not was resolved where to accommodate when it returns, because authorities of Mongolian People's Party are denying to vacate the purpose-built former V.I.Lenin Museum, however it was decided at the Cabinet meeting held on January 12, 2013 to open a new Central Dinosaur Museum aimed to preserve cultural heritages for public view in this museum.
UNFPA: Request for Proposal
Qualitative research with youth aged 15-24 on matters related to their sexual and reproductive health in Mongolia
5 August 2013
4.00 PM, 22 April 2012
The Mongolia Country Office of the United Nations Population Fund (UNFPA), an international development agency, invites research institutions entities who are interested to render research services in Ulaanbaatar city and selected provinces of Mongolia to submit sealed Proposals.
UNFPA's 5th Country Programme is aiming to promote Strategic Behavior Change Communication (SBCC) initiatives that meet the needs of youth using effective and innovative approaches to reduce risky behaviors by creating supportive environments for positive health practices. The expected output of the Country Program is to promote adolescent and youth friendly services, strengthen sexual health promotion, and expand targeted health communication interventions to ensure improved knowledge, generate demand for services, and develop more positive attitudes towards reproductive health and STI prevention among youth and other vulnerable groups. The qualitative work will take place in urban, periurban, and rural areas.
Although the baseline assessment will use one set of qualitative and one set of quantitative methods, this scope of work pertains solely to the qualitative methods. At a minimum, qualitative methods will include focus group discussions (FGD) and key informant interviews (KII). We strongly encourage the use of additional innovative techniques in conducting this formative research activity. For example, one approach is would be to include projective techniques (in which participants are asked to draw images of relevant settings and/or comment on photographs or drawings in order to understand participants' decision-making process).
UNFPA strongly encourages the adoption of techniques of inquiry that will shed new light on (1) how young people aged 15-24 perceive themselves and want to be perceived (identify formation, self-image) as well as (2) the factors that affect Mongolian youth's sexual behavior, contraceptive use/non-use, reliance on /avoidance of abortion, childbearing and exposure to sexually transmitted infections. The qualitative work will take place in urban, periurban, and rural areas.
The primary objectives of the qualitative research are:
· To understand the individual, collective, social, cultural, and structural factors that promote protective health practices, such as the delay of sexual debut, use of modern contraceptives, including condom use,
· To determine individual and community barriers as well as readiness to change to reduce STIs/HIV/AIDS, unplanned pregnancies, reduce abortion rates, and
· To provide meaningful input to intervention efforts in order to enhance the effectiveness of program implementation
· Field work should be completed by 17 May 2013.
· All oral data from the audiotapes will be transcribed no later than 24 May 2013 and translated into English no later than 31 May 2013.
· The selected institution will work to identify themes and codes by 7 June 2013.
· By 14 June, the selected institution will give UNFPA a list of key findings for each major theme.
· All data will be coded by 30 June 2013.
· A draft report will be submitted by 31 July 2013.
· The final report is due by 31 August 2013.
The proposal/bid document can be obtained electronically from the UNFPA Mongolia Country Office websitehttp://mongolia.unfpa.org under Current Vacancies section or in person from below address:
Phone: 976-11-353503, ext 154
UNFPA reserves the right to accept or reject any proposal, and to annul the solicitation process and reject all proposals at any time prior to award of contract, without thereby incurring any liability to the affected offeror or any obligation to inform the affected offeror or offerors of the grounds for UNFPA's action.
Mogi Munkhdul Badral Bontoi
Mobile: +976 9999 6779
P Please consider the environment before printing this e-mail.