Pages

Friday, May 20, 2011

[cpsinewswire] [CPSI NewsWire: Hunnu to Announce a "Significant Coal Transaction"]

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.

Wish to subscribe or unsubscribe? Let me know.

Close: Mongolia Related ASX Listed Companies, May 19, 2011

Code

Last https://myasx.asx.com.au/images/price_unchanged.gif

$ +/-

Bid

Offer

Open

High

Low

Volume

VOR

 0.051  Up

 0.001

 0.051

 0.052

 0.050

 0.052

 0.050

 2,492,219

HUN

 1.465  Down

 -0.015

 1.450

 1.490

 1.520

 1.520

 1.445

 491,438

HAR

 0.300  No change

 0.000

 0.295

 0.300

 0.290

 0.300

 0.280

 261,817

AKM

 0.720  Up

 0.025

 0.720

 0.730

 0.710

 0.745

 0.700

 1,923,923

BDI

 0.014  Down

 -0.001

 0.013

 0.014

 0.015

 0.015

 0.014

 5,708,098

BKM

 0.006  No change

 0.000

 0.005

 0.007

 0.006

 0.006

 0.006

 637,455

CEO

 0.055  Up

 0.001

 0.054

 0.055

 0.057

 0.058

 0.054

 2,805,590

GMM

 0.195  Up

 0.020

 0.190

 0.195

 0.175

 0.200

 0.175

 471,324

GUF

 1.220  Up

 0.070

 1.205

 1.230

 1.155

 1.290

 1.155

 2,420,193

LRL

 0.255  Up

 0.010

 0.250

 0.260

 0.255

 0.255

 0.255

 34,000

MUB

 0.500  No change

 0.000

 0.450

 0.530

 0.000

 0.000

 0.000

 0

XAM

 0.495  Up

 0.030

 0.475

 0.495

 0.480

 0.500

 0.480

 146,000

LEI

 23.550  Up

 0.150

 23.540

 23.550

 23.600

 23.670

 23.390

 829,430

RIO

 81.100  Up

 1.040

 81.100

 81.110

 81.000

 81.300

 80.750

 2,593,875

BHP

 44.820  Up

 0.530

 44.820

 44.830

 44.700

 45.090

 44.610

 14,952,044

Source: asx.com.au

 

Hunnu: Trading Halt Request

May 19,

The Directors of Hunnu Coal Limited (ASX:HUN) request a trading halt of the Company’s securities pending an announcement regarding a significant coal transaction.

The trading halt is requested until an announcement made to the market, which is expected to be on or before the opening of trading on or before Tuesday 24 May 2011.

Link to release

 

Petro Matad spuds Davsan Tolgoi-5 well in Mongolia

May 19 (EBR) Oil explorer Petro Matad (AIM:MATD) has commenced drilling operations at the Davsan Tolgoi-5 (DT-5) exploration well in Block XX, Mongolia.

The company's contractor, DQE International, is drilling the well vertically to an estimated target depth of 2,020m.

This well will test a portion of the recently identified Uvgan Gal paleovalley as well as part of the Lower Tsagaansav Formation.

According to the company, the DT-5 well is 3.1 kms north-northeast of the DT-1 well and 2.5 kms south of the 19-62 well on the adjacent Block XIX, operated by Daqing Oilfields.

Earlier this week, Petro Matad reported its discovery of significant hydrocarbons in the DT-4 well.

Link to article

Link to MATD release

 

Westhouse repeats bullish view on Petro Matad after its 4th oil discovery in a row

May 17 (Proactive Investors) Westhouse Securities oil and gas analyst David Hart reckons Petro Matad (LON:MATD) could worth twice its current value on the AIM market.

Yesterday the Mongolia focused oil firm revealed the initial results from its fourth successive exploration success on Block XX.

The analyst repeated a ‘buy’ recommendation which targets 341 pence a share (current price: 164.5 pence).

All four wells which the company has drilled so far on Block XX have identified the presence of significant oil accumulations and are potentially productive,” Hart said.

On Monday Petro Matad told investors that it has now drilled through all of its targets in the Davsan Tolgoi-4 (DT-4) exploration well.

It was the AIM-listed explorer’s fourth well in a row to successfully find hydrocarbons, but crucially this is the first one to target this particular part of Block XX.

The well was designed to test a four-way closure in the Davsan Tolgoi Shoroo Prospect – which has previously been referred to as Davsan Tolgoi West. 

Prior to drilling the Shoroo Prospect was estimated as a 41 million barrels un-risked recoverable resource, with a 69 percent chance of success. Petro Matad stressed that Davsan Tolgoi Shoroo is a separate structure from the discoveries made in the earlier DT-1, DT-2, and DT-3 wells.  

"The discovery of significant hydrocarbons in DT-4 highlights the prospectivity of the Lower Tsagaantsav formation, particularly as it tested an entirely separate structure from the previously drilled Davsan Tolgoi anticline,” chief executive Douglas McGay said.

“This is a further step in our knowledge of the reservoir and its potential resource.”

McGay said: “The preliminary results from DT-4 indicate that it is very similar to wells that have successfully produced in the neighbouring Block XIX (operated by Daqing Oilfields) with which we share the Lower Tsagaantsav Formation.” 

"DT-4 was sited and spudded before the re-interpretation of the 3D seismic survey. It was designed to solely target the Lower Tsagaantsav formation within the greater Davsan Tolgoi complex.”

Link to article

 

PetroChina Daquing Tamsag asked to work for environmental protection

May 18 (news.mn) During his recent visit to the work area of PetroChina Daquing Tamsag LLC, Prime Minister S.Batbold saw the truth in the complaints from residents of Matad soum of Dornod aimag that the Chinese oil exploration company did little or nothing for environmental protection.  

The Government has now served a notice on the company asking it to neutralize the polluting impact of its waste water, and to take up environmental recovery of exploited areas as a legal obligation.

Link to article

 

OIL PROCESSING PLANT TO BE ERECTED

May 18, Ulaanbaatar, Mongolia, /MONTSAME/ A base was established to erect an oil processing plant early this month in Bulgan soum, Dornod aimag, the www.news.mn website reported Wednesday.

The plant will be constructed within two years with investments from Mongolia-invested "Khet" company. It will install equipment from the USA to process 120 tons oil in the first turn. The capacity is to increase later. 

As expected, the dependence on the Russian oil will be reduced thanks to this plant. 

Link to article

 

Meritus Drills 7.00m of 16.44g Gold/Tonne At Gutain Davaa, Mongolia

May 18 (TheNewswire.ca) Vancouver, B.C.: Meritus Minerals Ltd. (MML) (TSX-V - MER) advises that it has now received all remaining assay results from its winter drilling program at the Toordogiin Shil Prospect Gutain Davaa, Mongolia.

In TDS054 a strongly mineralized zone of 7.00m of 16.44g Au/tonne was intersected.

A very good intersection was also obtained in the final hole (TSD057) which intersected 31.00m of 3.70g Au/tonne including 7.00m of 6.06g Au/tonne and 3.00m of 15.67g Au/tonne.

Results from all holes not previously announced are listed in the Table below.

GOLD ASSAYS FROM DIAMOND DRILLING

TOORDOGIIN SHIL PROSPECT GUTAIN DAVAA

Link to release

 

Mongolia allows import of electricity from China

May 19 (Xinhua) The Mongolian government has permitted the company that invests in Mongolia's Oyu Tolgoi copper-gold mining project to build an electricity line to import electricity from China, local media reported Wednesday.

The Mongolian government also tasked Mongolian Mineral Resources and Energy Minister D.Zorigt to oversee the construction of a new power plant that will provide electricity for the mega Oyu Tolgoi project.

The investor company involved with the Oyu Tolgoi project has asked the Mongolian government to help build electricity lines to provide energy for short-term need.

The matter was expected to be discussed at a Mongolia-China consultative meeting of minerals and energy sectors scheduled for May 30-31 in Beijing, Mongolia's Montsame agency said.

The Mongolian government is making efforts to prepare to build a new power plant in the south Gobi region and has set up a working group to choose the location. 

Link to article

 

Sulfuric acid issue holding back decision on copper smelter

May 18 (news.mn) One reason for the lack of progress in setting up a copper smelter near the Erdenet Factory, as resolved by Parliament, is that there has been no agreement among specialists on what to do with the sulfuric acid that is released during the refining process.  The more the amount of copper smelted, the more will be the quantity of the highly toxic chemical sulfur.

A working group of the Ministry of Mineral Resources and Energy submitted two proposals to the Government but both were found unsatisfactory in their approach to this environmentally sensitive issue. 

Link to article

Related:

STANDING COMMITTEE AND MINISTER ABOUT COPPER SMELTING INDUSTRYMontsame, May 18

 

Government decides to construct a power plant in Gobi region ahead of schedule

May 19 (news.mn) The Government yesterday asked Minister of Mineral Resources and Energy D.Zorigt to submit by June initial plans for constructing a power station in the Gobi region so that the Oyutolgoi project can proceed on schedule, to enable extraction work to begin as planned. The first decision to be taken is on the location of the planned plant. If this is clear by June, construction can start this year. The plan so far was to build the power station between 2016 and 2018.

The choice at present is between Tavantolgoi and Oyutolgoi mines. If it falls on Tavantolgoi, a source for long-term water supply will have to be found, and its environmental impact assessment made. Oyutolgoi LLC has suggested building the power station on a specially licensed area in or near the Oyutolgoi project. The company is at present making arrangements to import electricity from China after receiving special permission from the Ministry of Mineral Resources and Energy to do so. It has sought Government assistance in setting up transmission lines from the border. The whole thing is expected to be discussed at a Mongolia-China consultative meeting on May 30-31 in Beijing. If a definite decision is not taken, the project might be delayed.

Link to article

Related:

ABOUT ERECTING POWER STATION IN GOBIMontsame, May 18

 

CTU to monitor employment in Oyutolgoi

May 19 (news.mn) The Confederation of Trade Unions (CTU) will study the employment situation in Oyutolgoi on May 21 and 22 following widespread reports that Oyutolgoi LLC plans to employ 7,000 Chinese workers when unemployment is increasing in Mongolia day by day. Representatives of the Government, the CTU, the Union of Employers and Oyutolgoi LLC yesterday held talks and decided to conclude an agreement by June 15 on the issue.

The company needs a large number of workers as it constructs a 90-m coal pit, a power plant and a water supply system. Since the required number of skilled workers are not available locally, the Government has allowed 6,949 Chinese workers to be brought in. As the official agreement stipulates that 60% of the workforce should be Mongolian, employing 6,949 Chinese workers would mean employing more than 11,000 Mongolian workers. 

Mongolians should form 90% of total employees from August, 2012 when Oyutolgoi goes into production.

Link to article

 

"MONGOLIA'S ENERGY 2011: POLICY, INVESTMENT, TECHNOLOGY" FORUM APPROACHES

May 18, Ulaanbaatar, Mongolia, /MONTSAME/ A “Mongolia's energy 2011: Policy-investment-technology” international forum will run May 27-28 in Ulaanbaatar.

Aims of the forum is to talk about Mongolia's policy in energy sector, to attract foreign and domestic investments, and to develop a cooperation.

The Mongolian side, represented by state organizations, energy sector, industries, companies, investors, press and financial organizatioons, are supposed to give the energy-related information such as the government's proposals, programmes, concession matters, related Ministry's policy, and law on environment.

Link to article

 

Germany interested in large projects

May 19 (news.mn) A team from the German Ministry of Economics and Technology led by its State Secretary, Dr. B. Pfaffenbach, yesterday called on the Minister of Mineral Resources and Energy, D.Zorigt. The Minister said at the outset that Mongolia considered Germany to be one of its “third neighbors” and thanked it for its assistance in the mining sector. 

Dr. Pfaffenbach described some recent measures taken by the Government in Germany to make more funds available to Mongolia, and said that the Strategic Policy on Mining passed last October would take the partnership to new heights. Germany was interested in cooperation in implementing large projects in Mongolia and the two sides talked about organizing an economic consultative meeting in Berlin in September to discuss this and other things. 

Link to article

 

People’s Assembly demonstrators return home

May 19 (news.mn) The People’s Assembly formed on April 22 has decided to take a ten-day recess.

Its organizers say that the 200 delegates from Ulaanbaatar have already dispersed and the last of its 600 delegates from 21 aimags would leave the capital today.

A final meeting of this phase of theassembly will be held in the square of the State Academic Drama Theater.

Link to article

 

Selenge factory to make sugar from beet

May 19 (news.mn) A factory to produce sugar from sugar beet has come up in Bayangol soum in Selenge aimag and will begin working once the sugar beet is harvested.

The soum Governor, B.Enkhbat, has said sugar beet for the factory would this year be grown in 90 hectares.

The capital for the construction came from the SME Support Fund of the Ministry of Food, Agriculture and Light Industry.

Apart from meeting a part of the domestic demand for sugar, the factory would also encourage residents of the soum to grow sugar beet. 

Link to article

 

Foreign Ministry wants more staff, higher salaries

May 18 (news.mn) The Ministry of Foreign Affairs and Trade yesterday asked the Standing Committee on Security and Foreign Policy to sanction more staff for it, given the increase in its work in recent times. Minister G.Zandanshatar also told the MPs about all the international agreements and conventions Mongolia has signed, the international organizations where Mongolia is an active member, and the laws and protocols on foreign relations Parliament has passed. 

The volume of work has grown so much bigger, but the ministry works with the same number of employees as it did in 1990. Their salary also is not commensurate with their high level of education and considerable language skills. The Ministry cannot function properly and meet its responsibilities if it does not increase its staff strength and also change its structure, including salary levels. Members of the committee shared his concern and agreed to discuss further his proposals for more staff and higher salaries, and also to bring the Institute of Foreign Relations under the Ministry.

Link to article

 

<Mogi & Friends Fund A/C>

Historic +25.3%, Qtd -28.7%

Mogi & Friends Fund is a tiny fund of A$23K I created in late September with a few friends to put my own (and a few friends’) money where my mouth (just mine) is.

Shares rose slightly today. The market is jittery these days, but the Fund will weather through.

Mogi

 

---

"Mogi" Munkhdul Badral

Senior Client Manager / Executive Director

CPS International LLC

CPSI Logo (Small)

Telephone/Fax: +976-11-321326

Mobile: +976-99996779

Email: mogi@cpsinternational.mn

P Please consider the environment before printing a copy of this email.

 

Central Tower · 12th Floor · Left Wing · 2 Sukhbaatar Square

Sukhbaatar District 8 · Ulaanbaatar 14200 · Mongolia

 

CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.

 

Disclosure/Disclaimer

CPS Securities, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly from client transactions mentioned in correspondence from CPS International.

CPS International advise this email contains general information only and does not include advice. In preparing this communication, CPS International did not take into account the investment objectives, financial situation and particular needs of any person. As with any speculative mining company there are significant risks.

No comments:

Post a Comment