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, June 8, 2011 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.038 | 0.001 | 0.036 | 0.038 | 0.038 | 0.039 | 0.036 | 2,327,572 | |
1.445 | -0.015 | 1.430 | 1.445 | 1.460 | 1.460 | 1.400 | 284,973 | |
0.240 | 0.000 | 0.230 | 0.240 | 0.240 | 0.240 | 0.230 | 123,424 | |
0.615 | -0.010 | 0.615 | 0.620 | 0.625 | 0.640 | 0.610 | 568,556 | |
0.010 | -0.001 | 0.010 | 0.011 | 0.011 | 0.011 | 0.010 | 2,098,000 | |
0.005 | 0.000 | 0.005 | 0.006 | 0.005 | 0.005 | 0.005 | 307,932 | |
0.059 | 0.002 | 0.059 | 0.060 | 0.058 | 0.060 | 0.058 | 3,502,240 | |
0.185 | 0.010 | 0.165 | 0.185 | 0.170 | 0.185 | 0.165 | 46,000 | |
1.215 | -0.005 | 1.190 | 1.215 | 1.235 | 1.235 | 1.170 | 414,629 | |
0.230 | -0.005 | 0.230 | 0.235 | 0.235 | 0.235 | 0.230 | 620,999 | |
0.400 | -0.100 | 0.350 | 0.500 | 0.400 | 0.400 | 0.400 | 15,000 | |
0.410 | 0.010 | 0.405 | 0.420 | 0.395 | 0.410 | 0.380 | 389,653 | |
21.690 | -0.340 | 21.680 | 21.690 | 22.000 | 22.040 | 21.670 | 1,017,911 | |
79.600 | 0.310 | 79.600 | 79.610 | 80.020 | 80.230 | 79.040 | 3,120,202 | |
42.790 | -0.170 | 42.780 | 42.790 | 43.300 | 43.400 | 42.590 | 13,060,341 | |
Source: asx.com.au
MATD closes 18.7% lower to 137p
Petro Matad stays positive on drilling programme
June 8 (Proactive Investors UK) Mongolia-focused oil group Petro Matad (LON: MATD) saw its shares ease after it issued an update on its drilling activities on the group’s Davsan Tolgoi Prospect on Block XX in Eastern Mongolia.
Drilling operations on the DT-5 well have been completed to a depth of 1,954m below surface with numerous thin zones of hydrocarbons identified.
No oil shows were observed during drilling. The company intends to test the well during 2011 but feels stimulation will be needed to induce oil flow. A stimulation contract is being prepared with contractor DQ International.
The drilling rig is now being moved to the next site on the prospect, designated DT-6.
Petro Matad chief executive Douglas McGay said: "It is pleasing that our Davsan Tolgoi drilling programme continues to yield positive drilling results, with testable zones in each of the five wells drilled to date."
He assured investors that the company had always expected to see variations in well results during the exploration phase. “It is gratifying to see the presence of hydrocarbons in the Lower Tsagaantsav formation continuing to be relatively predictable," he added.
Analysts at Westhouse earlier this week sounded a very upbeat note on prospects for the group, highlighting its increasingly successful exploration programme, strong and capable technical team and 'exceptionally large' prospective exploration blocks.
The Westhouse analysts - David Hart, Peter Bassett and Andrew Matharu - point out that the company has a very active work programme lined up for the next 6-12 months.
In midmorning trade Petro Matad shares were down 29.5p to 139p.
Related: Petro Matad tumbles following well failure – Interactive Investor, June 8
Cabinet Meeting
June 8 (summarized from www.open-government.mn) –
- Cabinet approves “River, Water, Forest” Law affected area boundaries on alluvial gold licenses; Finance Minister to calculate and introduce to budget compensation amount for mining license holders; cost of evaluating environmental damage, mine foreclosure costs to be included in this year’s budget amendment; 236 licenses affected.
- 263,730 hectares to be taken as state special purpose land in Umnugovi Province’s Khanbogd, Bayan-Ovoo, Khankhongor, Manlai, and Tsogtsetsii soums. Designated for infrastructure development needed for OT, i.e. facilities, roads, deepwater pipelines, power cables, communication stations. All expenses and compensations incurred to be borne by OT.
- “UB International Airport Contractors to be selected swiftly”
- $300M China loan targets: residential district, railway maintenance park renovation
- Pension/salary rate to be updated
...
Link to Government press release
Eximbank offers $20 mil. loan to Mongolian bank (Khan Bank)
June 8 (Korea Times) The Export-Import Bank of Korea (Korea Eximbank) signed a $20 million inter-bank export loan agreement with the biggest Mongolian commercial lender Wednesday providing more opportunities for domestic exporters, the state-run lender said.
Korea Eximbank Chairman Kim Yong-hwan agreed with Khan Bank CEO Simon Morris to provide loans to Mongolian importers, who want to buy products from Korea.
Korea Eximbank said that with the agreement the lender can provide loan services for the Mongolian importers without opening its branches in the nation.
“We expect Korean exports, such as automobiles, daily necessities and construction machinery to increase with this agreement,” said an official of Korea Eximbank.
Before the signing, Kim met Mongolian finance minister Bayartsogt Sangajav, and discussed how to cooperate on economic issues.
Sangajav thanked Kim for the lender’s financial support from the Economic Development Cooperation Fund (EDCF), and asked for continual help for stable economic growth in the Asian nation. The EDCF is a policy fund, designed to support industrialization of developing nations, established in 1987.
Kim promised to enlarge the size of aid projects and vowed to enforce its financial support through various measures.
Currently, Korea Eximbank is providing $60 million for six projects led by the EDCF, which include thermal power station construction, modernization of government telecommunication cables and establishing emergency rescue information centers.
Of the $60 million, 76.5 percent of assets have been used for information technology projects, while 14.8 percent of the fund has been allotted for energy programs.
According to Korea International Trade Association, the amount of trade between the two nations marked $231 million last year. Korea exported $192 million of automobiles and telecommunication devices among others to the Asian nation, and imported $39 million of commodities and grains. Mongolia is a resource-abundant country with rich amounts of fluorite, copper and coal.
DP favors 50:26 election structure
June 8 (news.mn) The DP group in Parliament met on Monday to hear from Ch.Saikhanbileg, E.Bat-Uul and Z.Enkhbold on what their working group is doing on a draft law on the election structure. Saikhanbileg later told journalists the group favors a combined 50:26
structure.
The MPs also discussed general budget of 2010, the Government finance report of 2010 and protocol of Parliament to develop the economy and society in 2012. The meeting decided to establish a working group of five MPs to decide six issues including oil refinery construction, power plant building in Oyutolgoi and Tavantolgoi, joint management of border points, building a material factory, new railway construction and electronic identity cards of citizens within June, 2012.
GTSO Signs PPA to Excavate Rare Earths from 3 New Mongolian Mines
Company to Realize a Percentage of Net Profits Generated by Rare Earths Production
June 8, SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCQB:GTSO) announced today that it signed a Profit Participation Agreement (PPA) with Mongolian mining and trading company Ar Erkhes, LLC, to facilitate the mining of rare earths at three sites in the developing Asian nation.
According to the terms of the PPA, GTSO will make monthly payments to Ar Erkhes for the next six months in exchange for a percentage of the net profits generated by rare earths production at the mines. GTSO will facilitate the excavation of core samples and arrange for the identification of any and all rare earths present at each site.
The three mining properties covered in the PPA are located in three different Mongolian provinces. The first site, referred to in the PPA as the Avdrant Mine, is located in the Bayandelger Soum of Mongolia’s Tuv province, 80 km south of the country’s capital city of Ulan Bator. The second site, the Agiut Mine, can be found in the Dashinchilen Soum of the Bulgan Province, 260 km south of the capital. The third and final property, known as the Modot Uul Mine, is located in the Airag Soum of Mongolia’s Dornogobi province, 382 km from Ulan Bator.
“Next week, we plan to begin the process of selecting a reputable mineral lab to analyze core samples from each of the three mining properties,” said GTSO President and CEO John Shearer. “We’re very eager to begin full-scale rare earths production in Mongolia as soon as possible, but the mines’ mineral contents must be confirmed and specified by an outside laboratory before we’re able to negotiate with potential export buyers.”
China to create rare earth monopoly in Inner Mongolia
BEIJING, June 8 (Reuters) - China will shut down 35 rare earth producers in the region of Inner Mongolia and entrust all exploration, production and processing of the metals to a single company, the Baotou Steel Rare Earth Group , the Ministry of Industry and Information Technology said.
The restructuring of the sector will be completed by the end of this month, according to a statement on the ministry's website (www.miit.gov.cn).
China's efforts to streamline its chaotic rare earth sector have sparked concerns internationally about Beijing developing a chokehold over a vital group of metals used in industries like defence and renewable energy.
China controls about 97 percent of global supplies, and it has already slashed export quotas and imposed a cap on production. It has also vowed to crack down on the smuggling of rare earth elements.
<Mogi & Friends Fund A/C>
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.
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Mogi
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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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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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