CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.
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Close: Mongolia Related ASX Listed Companies, April 20, 2010 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.062 | 0.001 | 0.061 | 0.062 | 0.061 | 0.064 | 0.060 | 4,358,242 | |
1.600 | -0.020 | 1.595 | 1.610 | 1.620 | 1.630 | 1.580 | 429,762 | |
0.475 | 0.010 | 0.460 | 0.475 | 0.465 | 0.480 | 0.460 | 391,264 | |
0.940 | 0.020 | 0.930 | 0.945 | 0.910 | 0.945 | 0.910 | 1,265,442 | |
0.600 | -0.010 | 0.550 | 0.600 | 0.610 | 0.610 | 0.600 | 140,000 | |
0.025 | 0.004 | 0.024 | 0.025 | 0.022 | 0.026 | 0.022 | 27,502,955 | |
0.006 | 0.000 | 0.006 | 0.010 | 0.006 | 0.006 | 0.006 | 100,000 | |
0.064 | 0.024 | 0.063 | 0.064 | 0.051 | 0.064 | 0.049 | 168,102,414 | |
0.200 | 0.015 | 0.195 | 0.200 | 0.185 | 0.200 | 0.185 | 362,200 | |
1.140 | 0.060 | 1.120 | 1.140 | 1.120 | 1.150 | 1.100 | 491,602 | |
0.285 | 0.005 | 0.285 | 0.290 | 0.280 | 0.290 | 0.275 | 112,490 | |
0.550 | -0.005 | 0.540 | 0.550 | 0.565 | 0.565 | 0.550 | 78,029 | |
24.500 | 0.500 | 24.490 | 24.500 | 23.800 | 24.520 | 23.630 | 2,925,708 | |
83.120 | 1.020 | 83.110 | 83.120 | 82.820 | 83.340 | 82.600 | 2,735,845 | |
47.230 | 0.560 | 47.230 | 47.240 | 46.950 | 47.370 | 46.910 | 11,600,512 | |
Source: asx.com.au
CONCESSION CONTRACT BACKED (for Mogoin Gol Thermal Power Plan)
April 20, Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the cabinet meeting appoved an establishment of a concession contract on constructing and exploiting the Mogoi River thermal power station and granting a special right to transfer it to the state property. It will be made between the State Property Committee and the "New Asia Mining Group" LLC.
Related Ministers have been obliged to give a special right to the parties to start constructing and assembling the power station's buildings for implementing the concession. Governors of Zavkhan and Khovsgol aimags have been ordered to grant landholding permission to the parties, to augment capability of the Mogoi River locality-owned power station, to provide it with coal, and to take necessary measures for the construction.
In accordance with the concession, the "New Asia Mining Group" LLC will allot USD 110 million from its capital for the construction and put the power station into use in two years. The company is entitled to own the power station for 20 years, and then pass it to the state property of Mongolia when the contract expires.
The station is to fully provide Zavkhan and Gobi-Altai aimags with permanent and reliable energy resources.
CEO up 60% on the announcement. Trade value A$9.1M, market cap now $29.5M
C @ Limited $7.7m acquisition of eight prospective Mongolian coal licenses
April 20 (Proactive Investors) Perth based C @ Limited (ASX: CEO) has entered into an option to acquire eight prospective coal licenses in Mongolia.
What makes the licenses so interesting is the location in South Gobi, near the Chinese border, and adjoining Ovorhangay province in southern Mongolia.
The licences in Ovorhangay are close to existing mining operations, providing some infrastructure, and easy access to the Chinese coal markets.
C @ Limited has also made a non-refundable US$100,000 payment, credited against the full acquisition price of $7.7 million, as a consideration for entering into the option agreement.
The company made the binding agreement with an unnamed international coal developer that holds a significant position in the Mongolian coking and thermal coal industry.
Mark Early, managing director, said "Notably the licenses are unencumbered and allow us the full licence rights."
This is a first step in the company's strategy to acquire and develop thermal and coking coal interests in the country.
Mongolia halts coal exports to China -mining club
BEIJING, April 20 (Reuters) - The government of Mongolia has halted truck shipments of coal from the South Gobi region to China, with the ban expected to last around two days, Baasanjav Enkhbaatar, the chairman of the Mongolian Mining Club, confirmed on Wednesday.
The South Gobi region is the location of the Tavan Tolgoi property, one of the world's biggest coal deposits. Mongolia has yet to build railway infrastructure in the region, and exporters continue to depend on trucks.
"It has happened because China closed the border yesterday," Enkhbaatar said.
Official Chinese news agency Xinhua said Mongolia suspended coal deliveries following a spate of accidents on a dirt road running from Tavan Tolgoi.
The Mongolian Mining Corporation and South Gobi Resources also have mining operations in the South Gobi region.
Civil movement members put up gers in Sukhbaatar Square
April 20 (news.mn) Members of three civil movements -United for Rivers and Lakes, Khuder River, and Gal Undesten – converged on Sukhbaatar Square yesterday morning with 100 horsemen and horse carts and put up eight gers there. An earlier plan to demonstrate had been foiled by Bayanzurkh police who seized their gers on April 4.
Members of the movements want a national discussion on the present situation, resignation of the Government, and dissolution of Parliament. Most of them are herders from Arkhangai, Uvurkhangai, Tuv, Khentii and Dundgobi aimags who want to protect these areas from mining.
The head of the Ongi River movement, Ts.Munkhbayar, said those who held power were working against the interests of the people who elected them. “We want them to resign and to have a special election,” he said.
Both the assembly and the putting up of gers in Sukhbaatar Square are in violation of orders, but the gers were still there on Wednesday afternoon. Another 300 horsemen are on their way to Ulaanbaatar from the western aimags to join those already here.
MONGOLIA INV: TERMINATION OF THE MEMORANDUM OF UNDERSTANDING
April 20, Mongolia Investment Group Limited (HK:402) --
Reference is made to the announcement of Mongolia Investment Group Limited (the “Company”) dated 30 December 2010 (the “Announcement”) relating to the entering into of the Memorandum of Understanding in respect of the possible acquisition of certain equity interest in the Target Company which is the owner of the mining licence of a coal mine located in East Gobi, Mongolia. Capitalised terms used herein and not defined shall have the same meaning as in the Announcement unless the context otherwise requires.
TERMINATION OF MOU
The Board announces that, on 20 April 2011, CWH and GLL entered into a termination agreement (the “Termination Agreement”) whereby the parties have mutually agreed to terminate the Memorandum of Understanding with immediate effect.
…
First Mongolian rare earth shipment to be sold to S Korea
ULAN BATOR, April 19 (Xinhua) -- Green Technology Solutions Inc. (GTSO)will send its first Mongolian rare earth shipment to South Korea in June, local media reported Tuesday.
In an earlier report, GTSO President John Shearer said the company had targeted April for this initial shipment.
…
PRICES OF ELECTRICITY AND HEAT INCREASE
April 20, Ulaanbaatar, Mongolia, /MONTSAME/ At the cabinet meeting held Wednesday, a Minister of Mineral Resources and Energy D.Zorigt spoke about a change made in tariffs of electricity and heat which are sold by the Regulatory Authority of Energy (RAE).
The RAE has said the change is to rise electricity and heat prices but assured that the electricity nighttime tariffs will not go up for biggest factories and enterprisers, public places, apartments and paved roads, "Electric transport" company, and the change in heat cost will not affect factories, enterprisers and poor families' dwellings.
Hong Kong’s (Direct) Mongolian Connection
April 20 (WSJ) Mongolia just got a little bit closer to Hong Kong, partly thanks to the city’s banking community.
MIAT Mongolian Airlines says it will start flying direct from Hong Kong to Ulan Bataar. The new schedule—with flights Thursday and Sunday—will go into effect June 2.
MIAT, whose executives have been talking about the possibility of a direct route for at least a year, says the decision was driven by the growing business connections between Hong Kong and Mongolia.
“Emerging development in the mining sector creates a huge interest of foreign investment and mining associated trade in Mongolia,” an MIAT representative said. “In this regard, there is a potential demand on business travel between Mongolia and Hong Kong.”
Hong Kong Exchanges and Clearing Ltd. has made a big push to lure resource firms onto the HKEx recently, with executives touring resource-rich destinations, including Mongolia.
With companies such as Mongolian Mining Corp. and SouthGobi Resources now listed in Hong Kong, resource-sector bankers from the city have been making regular trips north to Ulan Bataar. And starting June 2, they will be able to do that without having to change planes in Seoul or Beijing.
Metals the new weapon in Mongolia's latest bid to conquer world
MONGOLIA LETTER: Mongolia’s fabulous reserves of gold and copper mean it is on the brink of transformation from one of the world’s poorest countries to among the richest, writes CLIFFORD COONAN
April 20 (The Irish Times) TEENAGERS LIKE to hang out at the Zaisan Memorial in Ulan- Bator, a monument to Soviet soldiers killed in the second World War that sits on a hill to the south of the Mongolian capital and looks down over this small, fast-growing, desert city.
…
The Oyu Tolgoi mine is the world’s largest mining exploration project, while Tavan Tolgoi is the world’s second largest coal deposit.
The resources boom tips over into all areas of life. The bourse in Ulan Bator is in a pretty little pink building. Once a children’s theatre, it’s now the world’s smallest stock exchange, but also the fastest growing.
From the top of the mountain you can see the villa developments where those made wealthy by the resources boom will live.
“We are a poor country. What options do we have? We need to do something today, otherwise we have to emigrate,” said one young woman, Bolormaa.
Mongolia is the size of western Europe but it has just three million people, giving it one of the world’s lowest population densities. Mongolians are famously close to nature. There are concerns that the environment could suffer from the sudden arrival of Aussie diggers, British bankers and Canadian geologists. However, the mining sector accounts for 81 per cent of exports, 32 per cent of government revenue and 30 per cent of GDP, and the country’s resources remain largely untapped.
…
Mongolia was a province of China until 1921. Crucial to future development will be how Mongolians get over their traditional dislike of the Chinese. China is set to be the country’s prime customer for selling resources and Mongolia’s largest trading partner.
There is every sign that the Mongolians are being pragmatic.
Locals are getting used to the side-effects of development. There is still horse manure in the streets, but you can see from the Zaisan Memorial how the Toyota Land Cruisers are backing up UB’s thoroughfares.
APARTMENT PURCHASE PRICES IN MONGOLIA MIGHT NOT DECREASE THIS YEAR
IN ACCORDANCE WITH OUR WISH TO PROVIDE OUR READERS WITH RELEVANT AND ACCURATE NEWS ABOUT THE MOVEMENTS OF THE PROPERTY MARKET IN ULAANBAATAR, WE HAVE INVITED MS. P. NARMANDAKH, DIRECTOR OF CONSTRUCTION AND THE APARTMENT ADVISORY CENTRE FOR AN INTERVIEW
THE CENTRE AGGREGATES ALL THE LATEST INFORMATION ABOUT ALL NEW CONSTRUCTIONS AND PUBLISHES ITS DATA MONTHLY
To start off the interview, could you give us a little more information about your center?
Of course, our center was founded last year (2010). We have since been providing all the relevant information about new residential projects, their square meterage, prices and so forth. Once apartments or buildings have been sold we update the listings to reflect the current market conditions, so far we have serviced over a thousand customers.
You just mentioned that your center has collected all the new residential project information from construction companies. Based on this information, have apartment prices decreased or increased over the last year.
People seem to be mostly interested in apartment purchase prices. We renew our information database monthly and thus get a pretty good general tendency over time. Compared with last year, apartment purchase prices have increased by 30.000-50.000MNT per sqm on average, of course there are differences between all the sectors and areas.
What predictions can we make about future prices?
Well, it seems that a lot of people in Ulaanbaatar expect prices to decrease due to the 7th district redevelopment project but our figures show that prices from construction companies keep increasing. You must also remember that the 7th district redevelopment project has only just started and will not be completed for a few years yet.
During the economic crisis years, apartment demand slowed down and mortgage loans stopped. Compared with that year, how is the present situation and apartment demand?
The crisis years definitely placed a huge strain on the local construction companies. We have since seen a strong recovery with more and more demand every month. Some commercial banks have also decreased their advance payment requirements to 20% and have seen enormous demand for their products. Some construction companies, such as “Bayanmongol Khoroolol” have gone even further and currently offer a very low 10% down-payment rate which is sure to attract even more people to the market.
Your mentioned that your company is not only providing information but is also offering advise to apartment buyers. What advise would you give to first time buyers, what should they look at?
First of all, people need to focus on quality. Last year we did a survey among citizens of Ulaanbaatar. The question ‘was, what do you mostly pay attention to when you buy an apartment?’ The answer choices where quality of apartment, implementation, size, price, location and the construction company. The majority of those queried answered that their most important factor was price and the need for a small size. Quality was in the last place of things that buyers valued the most. So this means that there is currently a lack of smaller, cheaper apartments but are willing to compromise on quality. Buyers should also be careful about the legality of the development itself.
You say that the poor levels of construction quality are a problem. How can first time buyer estimate the quality of buildings still in construction or newly complicated. It takes at least in Mongolia to know what the real quality of a building is.
When you buy a completed residential unit, make sure that you check all the licenses from the occupational regulations bureau of Ulaanbaatar. It is a trustworthy indicator. Even this is not enough as many apartments pass the city’s licensing tests but are still low quality constructions, this is mostly due to corruption amongst public servants. I recommend buying an apartment in winter because you can then have a better idea of the quality of the windows and see if the building already suffers in the winter temperatures. Also remember to have the size of the apartment independently valued and estimated, go through an external lawyer for your transaction.
Would it not be a good idea to issue people with sample purchase and leasing contracts to give them an idea what they should be looking for and what they can expect. I have heard you are already considering this.
We have been trying to do just that but construction companies are very reluctant to let us have or publish copies of their contracts. We therefore have to be inventive and find alternate means of getting our hands on contracts. Based on those we are working with lawyers to come up with a template but in any case, buyers should go through a good and independent lawyer.
Could you tell us about the cheapest and the most expensive apartments currently in Ulaanbaatar?
Generally, the cheapest apartments are in Songinokhairkhan district where the average square meter prices are around 800-900.000MNT per sqm. On the other hand, apartments within the Khan-Uul district (zaisan) are probably the most expensive at about 3 million MNT per square meter. As always, the quality may be the same but it is all about the location. Prices are linked to demand but also to the increasing cost of corruption for land in some areas of the city.
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"Mogi" Munkhdul Badral
Executive Director
CPS International LLC
Telephone/Fax: +976-11-321326
Mobile: +976-99996779
Email: mogi@cpsinternational.mn
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Central Tower · 12th Floor · Left Wing · 2 Sukhbaatar Square
Sukhbaatar District 8 · Ulaanbaatar 14200 · Mongolia
CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.
Disclosure/Disclaimer
CPS Securities, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly from client transactions mentioned in correspondence from CPS International.
CPS International advise this email contains general information only and does not include advice. In preparing this communication, CPS International did not take into account the investment objectives, financial situation and particular needs of any person. As with any speculative mining company there are significant risks.
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