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Wednesday, October 19, 2011

[CPSI NewsWire: Banpu Stake in Hunnu Nearing 50%, 100% of Options Locked In]

CPSI NewsWire brings you market updates on Mongolia, compiled by CPS International, a Mongolian marketing arm of CPS Securities, a Perth, WA based stockbroking and corporate advisory firm, specialising in capital raising for mining and junior stocks.

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See Mongolia related quotes at bottom of newsletter

 

HUN trading at A$1.77-1.775 today

Banpu stake in Hunnu now at 46.45% of shares and 100% of options

October 19, Hunnu Coal Limited (ASX:HUN) --

Link to release

Related: Centaurus Capital Stake in Hunnu now 9.05% from 6.05% - October 19

 

KCC closed flat at C$0.38 but rose 26.67% day previous

Kincora Copper gives Bronze Fox update, which Ocean Equities calls "very impressive"

October 19 (Proactive Investors) Kincora Copper (CVE:KCC) Tuesday announced an exploration update at its Bronze Fox project in Mongolia, as it named Igor Kovarsky as president and CEO.

The copper and gold explorer said that in the last six months, 10,035 metres of diamond drilling has been completed with drill holes containing mineralization up to 5 kilometres apart. Mineralization covers a very large area of more than 35 square kilometres.

Kincora said that a number of the drill holes at Bronze Fox were open at depth, with one drill hole containing over 750 metres of consistent copper mineralization, locally with up to 0.9% molybdenum, and ending in a mineralization zone. 

All the holes drilled in West Kasulu and Leca Pass, and some of the holes in Buchanan Heights and Sophie North this year intersected extensive copper and/or gold mineralization, highlighting the license has the potential to host a high grade resource, the company said. 

To date, work has focused on around 13 percent of the license area, and further exploration work is planned for the extended property in 2012. 

Kincora identified three new geophysical high anomaly areas in April and May. Recent new rock chip sample assay results include returned samples of up to 93 grams per tonne (g/t) gold, indicating further gold potential outside of the current focused work area.

The company also said that it was fully funded with cash of $6 million at the end of September. The Bronze Fox project occupies 223 square kilometres of land 140 kilometres northeast of the Oyu Tolgoi project, on the same metallogenic belt. 

Ivanhoe Mines (TSE:IVN)(NASDAQ:IVN) and Rio Tinto (NYSE:RIO)(LON:RIO) are developing Oyu Tolgoi and recently fended off an attempt by the Mongolian government to increase its stake in the project at the expense of the two mining firms.

In a recent reserach note, Ocean Equities analyst Sam Spring wrote that the Bronze Fox land package is independently considered as one of the most advanced and highly prospective natural resource projects in Mongolia due to previous exploration activities undertaken by local prospectors, the Soviet Union, Mongolian geologists and Ivanhoe. 

Bronze Fox is in a favourable location for project development, along the Chinese border and within proximity to existing rail, water and power, in an emerging mineralized belt - the highly prospective Gurvansayhan island arc terrance which hosts the Oyu-Tolgoi copper project.

Separately, Kincora said that Igor Kovarsky has replaced Stephen Fabian, who will remain as the chairman. Kovarsky has over 30 years of experience in the construction and mineral sectors, managing exploration, engineering, development and mining operations in a number of large projects. 

He worked with Centerra Gold (TSE:CG) and its predecessor Cameco Gold since 1992, in which he served in various roles including director and VP of government affairs and business development for Centerra's subsidiaries in Kyrgyzstan, Mongolia and its head office in Toronto. Simultaneously, he acted as president of Centerra Gold Mongolia.

Most recently, Kovarsky worked at Kola Mining (CVE:KM) as president and CEO, leading the strategy of development of the cornerstone Souker Nickel Project in Russia.

Kincora Copper's chairman, Stephen Fabian, said: "I am particularly pleased that someone with the calibre and experience of Igor has agreed to join us at Kincora. His vast experience in all stages of mining from exploration through to the development of large mining projects in Mongolia will be invaluable for the Kincora Copper."

The company said that drilling of three additional holes is underway, adding 1,500 to 2,000 metres to the total meters drilled at Bronze Fox. The plan is for 12,000 metres to be drilled by the end of the current field season, Kincora said.

In the Ocean Equities reserach note, analyst Sam Spring said that Kincora is one of only a handful of listed plays offering pure play exposure to copper-gold exploration in Mongolia and owning a 100% interest at the asset level. The Ocean Equities report didn't specify its rating or target price for Kincora

Ocean's Spring said that the current activities of Kincora are akin to "defining and starting to put together the pieces of what appears to be a very large jigsaw puzzle" with various known mineralized targets already identified on a small section of the tenement.

Spring added that initial progress has been "very impressive". Current drilling and planned soil sampling from historic trenches around the "gap" zone at the West Kasulu target has the potential to pull together and define a conceptual lower grade, near surface resource which could support a "starter" open pit development project, Spring said.

The Ocean Equities analyst also noted he didn't expect this year's drilling program to define a maiden NI 43-101 compliant resource, as he expects further drilling is likely necessary early in 2012. Spring said the company has already "very successfully" advanced four key elements of its strategy. 

It has consolidated and increased its presence in highly prospective and advanced exploration targets in Mongolia, now owning 100% of Bronze Fox and being in advanced discussions regarding a number of other potential targets. 

Moreover, surface and drilling at depth to date has further indicated prospective alteration and suggests there has most likely been a large multi-phase copper and copper-gold-molly mineralization event at Bronze Fox.

Greenfield exploration at the asset has also been advanced with follow-up drilling in 2012 most likely defining potential maiden resources at the West Kasulu and other targets, and scout testing a number of other high priority targets, Spring concluded.

Tuesday afternoon, Kincora shares were flat at 38 cents but are up 31% for the year to date.

Link to article

Link to KCC release

Related: Investor PresentationKincora Copper, October 2011

 

TVN trading flat as of midday

TVN Corporation's 3km coal sequence remains open at Nuurst in Mongolia

October 19 (Proactive Investors) TVN Corporation (ASX:TVN) has ramped up drilling at its wholly owned Nuurst Coal Project in Mongolia which has confirmed a continuous thick coal sequence that extends across the full width of the south western limb of licence area.

With the arrival of two additional drilling rigs in recent weeks, the rate of drilling has increased and three holes recently completed support the revised exploration target and demonstrate the extent of the Nuurst Project coal seam development in the south western limb of the Nuurst Licence

Coal seam development has now been defined to the full 1.5 kilometre width of the licence in this area and for a length of at least 3 kilometres from the southern boundary to the north which remains open.

In this area the coal seam development appears to be bound by the licence boundary, remaining open to the north.

Trenching activities in the area of the fault in the south eastern portion of the targeted resource area have extended the sub-cropping coal sequence for over 700 metres of strike length, extending south westerly from US coal miner Peabody Winsway Resources’ Tsaidam Deposit, which contains a Mineral Resource of 149.7 million tonnes.

The Nuurst Project covers 34.5 square kilometres and is located 120 kilometres south of the Mongolian capital Ulaanbaatar, in an area with a number of operating coal mines. 

Nuurst is 6 kilometres from existing rail infrastructure providing low cost access to the key coal export markets of China, South Korea and Japan.

The project has a 200 to 300 million tonne exploration target, which covers less than 15% of the overall licence

To date TVN has completed more than 3000 metres of drilling and is aiming to define a JORC Resource by the end of 2011. Drilling and trenching at Nuurst will continue through until mid-November. 

TVN continues to review the potential acquisition of other coking and thermal coal projects in Mongolia.

In other TVN news, the company has appointed Daniel Rohr to the position of chief financial officer. Rohr has 20 years management, corporate advisory, finance and accounting experience working for a number of listed and unlisted companies.

Link to article

Link to TVN release

Related: Nuurst Project Presentation – October 19

 

PCY closed +9.68% higher to C$0.51

Prophecy to Trade on Toronto Stock Exchange Starting October 19

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2011) - Prophecy Coal Corp. ("Prophecy") (TSX VENTURE:PCY)(OTCQX:PRPCF)(PINK SHEETS:PRPCF)(FRANKFURT:1P2) (the "Company") is pleased to announce that its common shares have been approved for listing on the Toronto Stock Exchange ("TSX") under its current trading symbol "PCY" starting Wednesday, October 19, 2011. The Company's shares will be delisted from the TSX Venture Exchange upon commencement of trading on the TSX.

John Lee, CEO and Chairman of Prophecy Coal, states: "TSX is the premier global exchange for the mining industry. The high standards embraced by the TSX should improve Prophecy's trading efficiency and liquidity, strengthen access to capital markets, and broaden the Company's market exposure. The Company continues to achieve major milestones and expects to hear from the Mongolian government regarding license issuance of the Company's flagship Chandgana power plant project soon."

Prophecy is also pleased to announce the appointments of Mr. Patrick Langlois as Vice President, Corporate Development and Mr. Joseph Li to its Board of Directors.

Mr. Langlois has extensive investment banking and venture capital experience, with past roles that have included Director of Investment Banking at Stonecap Securities and Managing Director of Investment Banking at Laurentian Bank Securities. Patrick has provided corporate finance expertise across a broad spectrum of industries, advising numerous corporations regarding public offerings, private placements, as well as mergers and acquisitions. Mr. Langlois, based in Toronto, joins Prophecy on a full time basis and holds an M.B.A. from Université de Sherbrooke, as well as a CFA designation and membership in the CFA Institute. Mr. Langlois has been granted 300,000 options at $0.77 per share with a 2 year vesting schedule for a period of five years, subject to regulatory approval.

Mr. Li is a Certified General Accountant (B.C.) and has a B.Com (Hons) from Laurentian University. For 13 years, Joseph was a Senior Auditor with the B.C. Ministry of Finance, a position which allowed him to gain valuable insight into how diverse businesses and organizations of all sizes are operated. Mr. Li has been the General Manager and Corporate Secretary of Prophecy Coal Corp. since January, 2011, and oversaw the successful spinoff of Prophecy Platinum Corp.

Link to release

 

LKY closed +7.69% higher at C$0.70 on Tuesday

Lucky Strike Joins OTCQX and S&P Market Access Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2011) - Lucky Strike Resources Ltd. ("Lucky Strike" or the "Company") (TSX VENTURE:LKY)(OTCQX:LKYSF) is pleased to announce that the Company's common stock commenced trading today on the OTCQX International market, under the trading symbol "LKYSF". Standard and Poor's (S&P) Market Access Program is providing information about Lucky Strike via the S&P's Stock Guide database distributed electronically to virtually all major quote vendors. A full description of Lucky Strike will also be published in the Daily News section of Standard Corporation Records, a recognized securities manual for secondary trading in up to 38 states under their Blue Sky Laws.

Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.comwww.otcmarkets.com andwww.marketscope.com.

"The OTCQX platform offers investor-focused companies a winning combination of quality control, transparency, and broader visibility to U.S. investors," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome Lucky Strike Resources to OTCQX."

Company information distributed through the Market Access Program is based upon information that Standard & Poor's considers to be reliable, but neither Standard & Poor's nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.

Berns & Berns, Counsellors at Law will serve as Lucky Strike Resources' Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.

Link to release

 

Robe: Appendix 4C – Monthly Report

October 18, Robe Australia Limited (ASX:ROB) --

Link to release

 

WATER AUTHORITY: NUMBER OF WATER-BEARING RESOURCES INCREASED

Ulaanbaatar, Mongolia, October 19 /MONTSAME/ Number of water-bearing springs, rivers and lakes increased comparing to the same period of 2007, and the number of the dried water resources decreased by about 30 per cent against the year 2003, the Water Authority reported on Monday.

According to the report, it counted 6,095 water-bearing rivers out of 6,681 rivers in total number, 3,126 water-bearing lakes out of 3,607 and 8,471 water-bearing springs out of 9,963 springs.

A monitoring representative of the Water Authority G.Monkh-Erdem said that measures will be planned after officially presenting the result of the counting of water resources to the Environment Council.

As result of the counting, Khovsgol aimag has the biggest number of rivers (1,227) and springs (1,098), whereas Khentii aimag has the biggest number of lakes (1,246).

The smallest number of river has been recorded in Dornogobi and Dundgobi aimags. They have only one river, each. Darkhan-Uul aimag has the smallest number of springs (39).

Link to article

 

ANALYSIS OF THE TAVAN TOLGOI TENDER

THE TAVAN TOLGOI PROJECT IS IMPORTANT FOR MONGOLIA’S GROWTH, AS ITS DEVELOPMENT MAY HELP PUT MONGOLIA ON A PATH TO INCREASED PROSPERITY.

October 18 (mad-mongolia.com, source: Anderson & Anderson LLP) First, Tavan Tolgoi may go into production even earlier than Oyu Tolgoi, another very major project. It is also important to note that this strategic deposit and the license over it will forever be one hundred percent owned by the Mongolian state.

Tavan Tolgoi consists of two independent mines, with production in east Tsankhi being the responsibility of contract miners to be selected by the Mongolian state controlled company, Erdenes Tavan Tolgoi. The contractor’s job ends with the extraction of the coal. The marketing and selling of the coal is to be done by Erdenes Tavan Tolgoi, meaning that Mongolia will develop east Tsankhi largely by itself.

The present choice of consortia relates to west Tsankhi and will be for a term of 30 years, pursuant to the 39th Order of Ikh Hural. According to Prime Minister Batbold, a limit on annual output will be imposed, likely to be around 20 million to 30 million tons per year. Thus, in 30 years, 600 to 900 million tons of the 6.4 billion tons of minerals in the Tavan Tolgoi reserve will have been mined.

The Selection Process for the Tavan Tolgoi Bid

The invitation for prequalification for the Tavan Tolgoi tender was announced on 8th December, 2010, under the title of Prequalification for Company/Consortium Represented by International and Domestic Investors to Cooperate in the Tavan Tolgoi Coal Deposit(“Prequalification Document”). The Law of Mongolia on Procurement of Goods, Works and Services with State and Local Funds (“Tender Law”) is the only legal source that regulates the tender. The process under the Prequalification Document can be seen as a preliminary selection of bidders.

The Tender Law, Article 13 gives the Mongolian government the power to conduct a preliminary selection for the tender. The Mongolian government has done this through the Prequalification Document. Article 13.1 states that the “customer,” meaning the government in our case, “may, for the purpose of verifying the qualifications of the persons interested in tender selection, conduct a preliminary selection.” Article 13.2 gives the Prequalification Document the status of a tender document by stating, “for the purposes of preliminary selection process, the term ‘tender invitation’…shall be interpreted as ‘preliminary selection invitation,’ whereas the term ‘tender documents’…shall be interpreted as ‘preliminary selection invitation…”. Therefore, the Prequalification Document appears to have the same legal effect as a tender document.

Initially, eleven companies and consortia expressed interest in Tavan Tolgoi. These bidders were Extrata (Australia); Peabody Energy (USA); BHP Billiton (Great Britain); Vale (Brazil); Sojits (Japan); Marubeni and Itochu (Japan); COPEC (South Korea); Mitsui and Shenhua Energy (China and Japan); Jindal Steel and Power (India); Russian Railways (Russia); and Sumitomo (Japan). Many domestic companies were expected to submit bids. However, no domestic company expressed interest in participating in the tender.

The aforementioned eleven bidders were evaluated per the selection criteria set out in the Prequalification Document. Those obtaining adequate scores were selected to be part of a shortlist, and negotiations were carried out with the shortlisted bidders pursuant to Resolution Number 39 of the Ikh Hural of Mongolia, dated 2010. The shortlist consisted of Peabody Energy (USA); Mitsui and Shenhua Energy (China and Japan), Russian Railways, Japanese and Korean Consortium (Russia, Japan and Korea); Vale (Brazil); Extrata (Australia); and Arcelor Mittal Limited (Luxemburg).

In early July, 2011, the Mongolian government appeared to reach a tentative proposal which granted China’s Shenhua Energy Company, U.S. Peabody Energy Corporation and a Japanese-Korean-Russian consortium (sometimes referred to as the Mongolian-Russian consortium) respectively 40 percent, 24 percent and 36 percent shares in the Tavan Tolgoi project. However, subsequently, President Elbegdorj said that the proposal does not meet the requirements of the National Security Council and that it is not compliant withMongolian laws and regulations. The proposal was thus submitted to the National Security Council on 22nd July for review.

The tentative investment agreement with international miners on stake ownership and production of the deposit was rejected by the National Security Council, comprised of the president, prime minister and speaker of the legislature, the Ikh Hural, on 9th September, 2011. It is not clear whether the Mongolian government will renegotiate with the international bidders for the development of West Tsankhi area of the deposit. Pursuant to the 39th Order of Ikh Hural, the Mongolian Ikh Hural has the final say on any such agreement. However, if it is true that the participating bidders have been selected, two important questions arise: (1) how did the Mongolian company suddenly join the tender when it had not expressed any interest in the past? and (2) why has the government split the Russian-Japanese-Korean consortium to exclude Russian Railways.

As mentioned above, there was no Mongolian company or consortium in the initial bid for the tender. According to the Prequalification Document, Article 1.3, negotiations shall be conducted with shortlisted bidders. The Mongolian company was not among the shortlisted six consortia and companies. Thus, the government’s choice of the Mongolian company as a winning bidder may be a breach of the Prequalification Document.

According to the Prequalification Document, Article 2.1, the “Bidder (all members in the case of a consortium) shall prepare and submit one set of prequalification proposals only.” According to the Prequalification Document, Article 17, only shortlisted bidders have rights to mergers, partnerships, and consortium in the course of negotiations. Thus, while Bidders on the shortlist have such rights, it seems that the Mongolian company, which was not on the shortlist, pursuant to Mongolian law, should not be a winning bidder. The Russia-Korea-Japan consortium was one bidder from the start, and the Russian part of the consortium should not have been able to break off and bring an outside party (the Mongolian company) into a winning bid. Any such winning bid may be considered invalid.

Conclusion

Any breach of the Prequalification Document by the government or the bidders is a breach of the tender rules and the consequences invalid. According to the Tender Law, Article 54, in the event that a tender participant believes that a “customer,” meaning the government in our case, is in breach of the duties related to the tender, within five working days from becoming aware of such breach, such tender participant may submit a written complaint to the customer with documentary evidence attached. Following submission of such complaint, no contract shall be awarded unless the customer decides that the continuing of the tender without interrpution is in the public interest. If a decision to proceed with the tender is made on the grounds of public interest, the complainant shall be officially notified of its grounds within at least five working days prior to such decision taking effect.

Tender Law, Article 55.1, provides that if the complainant disagrees with the decision made by the customer regarding the complaint, or no decision is made within ten working days from the receipt of the complaint, or the customer awards the contract, a complaint may be made within five working days to the state central administrative body in charge of budget matters.

The state central administrative body in charge of budget matters, upon reviewing the complaint, shall issue one of the following decisions if it deems that the customer has committed a breach: (i) to rescind or modify, in whole or in part, an act or decision of the breaching customer; (ii) to indicate the legal provisions to be applied to the given matter; or (iii) to require the customer to proceed with the tender. Tender Law, Article 56, provides that if the state central administrative body in charge of budget matters fails to make a decision within fourteen days from the receipt of the complaint, or if the complainant disagrees with the decision made by the state central administrative body, the complainant may file a complaint with a court having jurisdiction over the matter. Tender Law, Article 55.3, is the only provision within that Law speaking to the cancellation or modification of a tender offer. The law states that events of breach allowing for such cancellation or modification are set forth in the Competition Law. However, upon examination of the Competition Law, nowhere are events of breach mentioned. Thus, there is a gap in Mongolian law, and it seems that there is no provision allowing for the cancellation or modification of a tender offer in such cases. Thus, it seems that the selection by the government of the winning bidders is a political decision that may well breach the law. However, as there exists the aforementioned gap in Mongolian law, the government may try to circumvent this potential breach.

Cameron Sadeghi and Pagamsuren Lkhagvasuren Anderson & Anderson LLP, Ulaanbaatar, Mongolia

Link to article

 

APNewsBreak: Rehberg's son (the point man for Mongolia’s interests on Capitol Hill) works for lobbyists

HELENA, Mont. October 19 (AP) — U.S. Rep. Denny Rehberg has made a point of criticizing Democratic Sen. Jon Tester's campaign money ties to lobbyists in their battle for the U.S. Senate, but the Republican has been less vocal about his son's position as an executive with a Washington, D.C., lobbying firm.

Rehberg's son A.J. Rehberg, who has worked at GAGE since 2008, more recently became the point man for the Mongolian government's interests on Capitol Hill. But Rehberg says there is no conflict of interest and he has done due diligence in asking the House ethics committee for guidance in the situation.

The congressman was lawmakers' family members are not prohibited from working at a lobbying firm. GAGE also employs former Republican U.S. Sen. Conrad Burns.

"There is no law, rule, or standard of conduct that absolutely prohibits a family member from accepting employment with a lobbying firm, or even engaging in lobbying-related activities," ethics committee leaders told Rehberg in a letter.

Rehberg was advised to establish an office policy prohibiting lobbying of his office by his son as a safeguard, even though A.J. is not a registered lobbyist, and to warn GAGE not to advertise the relationship in attracting clients. He was also told to make sure GAGE was not given extra influence as a result of hiring his son as a vice president.

"But Denny and A.J. have taken it a step further, establishing a professional firewall. There's an understanding between them that they just don't talk shop together," said spokesman Jed Link. "Denny also made it perfectly clear to GAGE that hiring A.J. would neither help nor hurt their standing with him or his office. A.J. being on staff has no impact whatsoever."

Although A.J. Rehberg is not a registered lobbyist for his work with GAGE, the Embassy of Mongolia considers the congressman's son "the primary point of contact for the firm's work with the embassy."

The embassy said in a release earlier this year that it has hired GAGE to be its first ever lobbying firm in Washington D.C. GAGE says on its website that it represents Mongolia to both Congress and the administration.

But regulatory paperwork shows that GAGE principal Leo Giacometto does the official lobbying work for the Mongolians. GAGE did not return a call Tuesday seeking comment.

The Mongolian embassy counts Rep. Rehberg among about a dozen House members who are part of the U.S.-Mongolia Friendship Caucus established to strengthen relations between the two countries.

Rehberg, the Republican, is pitted against U.S. Sen. Jon Tester, the Democrat, in an intense race. Rehberg has attacked Tester for taking more campaign donations from lobbyists than anyone else in Congress, and the Republican campaign has suggested the donations could lead to improper influence.

The issue has attracted the attention of CREW, or Citizens for Responsibility and Ethics in Washington. The watchdog group recently asked the State Department, in a public records request, if Rehberg has ever written the agency on behalf of GAGE or its Mongolian interests.

"We are routinely concerned with the issue of members of Congress using their position as profit centers for their families. In this situation it would seem that Mr. Rehberg's son may be profiting from his father's position in congress," said CREW executive director Melanie Sloan.

Sloan said that any potential clients of GAGE would know the Rehberg name and be able to quickly associate A.J. to his father even if GAGE does not advertise the association. She said it would be hard for Rehberg to claim the high ground in a debate over the influence of lobbyists.

"For him to holler about anyone else's Washington connections is ridiculous and hypocritical," Sloan said.

The GAGE firm has deep ties to Montana, which hired Burns when he was ousted in 2006 by Democrat Jon Tester.

Ironically, GAGE until recently also briefly employed a well-known Democratic operative and former Tester employee that played a critical role in beating Burns. But Matt McKenna, who used to work for Tester and is now a consultant to former president Bill Clinton and others, says he is no longer working with GAGE.

Tester's office, which says former staffers are banned from lobbying the office, said Tuesday it however has no control over where former staffers choose to work and has no comment on those choices.

Tester's campaign didn't offer much comment on the employment of Rehberg's son as a lobbyist.

"This campaign will remain focused on what's best for Montana and this nation, and Congressman Rehberg's record — not his children," said Tester campaign manager Preston Elliott.

GAGE has unique ties to Mongolia, in addition to representing the country's interests in the United States.

A.J. Rehberg is also a vice president at a Mongolian uranium mining company called Mongolia Forward, which is headquartered in Washington D.C. Several other GAGE employees are directors or advisers at the company, including Burns and Giacometto, known to many in Montana as a former state legislator and appointee in the administration of former Gov. Judy Martz.

Mongolia Forward says on its website it is trying to secure permits to start the mining venture.

GAGE also leads several other Mongolia business ventures, such as a fiber optic network company, and GAGE is part owner of a Pepsi bottling operation in that country.

"GAGE was instrumental in securing the exclusive Pepsi bottling and distribution rights in Mongolia," the company's website reads.

Link to article

From GAGE website:

“(Leo) Giacometto is the Founder and CEO of Mongolia Forward, a uranium mining project based in Mongolia.  He is the Co-founder of the Pepsi franchise in Mongolia and serves on the Board of Directors for Gemnet, a Eurasian telecommunications company based in Ulaanbaatar.  He is on the Board of Advisors of Silk Way Holding, a multinational aviation services company based in Baku, Azerbaijan.  He serves as a Senior Advisor to Expedia, Inc., the largest online travel company in the world. “

“At GAGE, AJ (Rehberg) has focused on medical and emergency preparedness technologies as well handling numerous international business ventures including the establishment of a Mongolia Pepsi franchise and a Eurasian telecommunications company.  He also currently serves as Vice President of Public and Government Affairs for Mongolia Forward, a uranium mining project in Mongolia. 

He has an extensive knowledge of USAID, Millennium Challenge Corporation and US Trade Development Agency projects.  As a youth, he participated in the United States Senate Page program has served at multiple national conventions and has vast experience in fundraising, public relations, and event coordination.  Rehberg serves on the Board of Advisors of a web-based social networking and e-commerce company.  He also serves as Vice President of Public and Government Affairs for Mongolia Forward, a uranium mining project in Mongolia. “

“(Joseph) Giacometto serves as the President of GAGE Mongolia.  As the in-country manager for all of GAGE's Mongolia related business, Mr. Giacometto oversees numerous ventures in the food and beverage, mining, telecommunications, oil and gas and agriculture sectors of the Mongolian economy.   Mr. Giacometto brings a unique first hand knowledge of the oversight and perseverance necessary to create successful businesses from the ground up, an experience critical to GAGE and our clients who desire to expand their operations in Mongolia.”

 

Benedict XVI receives president of Mongolia Tsakhiagiin Elbegdorj at the Vatican

October 17, 2011. (Romereports.com) (-ONLY VIDEO-) Benedict XVI received President Tsakhiagiin Elbegdorj of Mongolia at the Vatican. The Vatican has said the two held a cordial meeting in which they spoke about the relations between the Republic of Mongolia and the Holy See. Their conversation was highlighted by the topic of cooperation in education and social importance and inter-cultural dialogue to promote justice and peace.

Link to video

Related: TS.ELBEGDORJ AWARDED ABOLITIONIST OF YEAR OF 2011Montsame, October 19

 

MONGOLIAN AIRLINES HAS BOEING 767-300

Ulaanbaatar, Mongolia, October 19 /MONTSAME/ The Mongolian Airlines (MIAT) has taken a new airplane--Boeing 767-300.

A ceremony of receiving the airplane took place on Monday in the MIAT Company.

By having the new airplane, the fleet of the MIAT consists of a total of four Boeing planes. It is expected the first flight of the new airplane will be made from Ulaanbaatar to Sanya of China, with over 200 Mongolians.

At the ceremony, director of the MIAT Mr. Ts.Orkhon pointed out that the planes will do its permanent flights and it is expected the plane will fly to the biggest tourism sites such as Dubai, Sanya, Singapore, Hanoi, Bangkok and Jeju under special orders. According to him, the MIAT's fleet will get additional planes

Link to article

 

Table: Mongolia Related Stocks (Source: Bloomberg)

 

Name

Symbol

$

Price

Change

+-%

Open

High

Low

Volume

Time

% YTD

% 12 m

Indices

ASX 200

AS51:IND

4,186.90

-88.5

-2.07%

4,253.00

4,254.90

4,186.50

-

18-Oct

 

 

Nikkei 225

NKY:IND

8,741.91

-137.689

-1.55%

8,758.74

8,773.99

8,727.39

-

18-Oct

 

 

Hang Seng

HSI:IND

18,076.46

-797.529

-4.23%

18,411.40

18,411.40

17,963.26

-

18-Oct

 

 

FTSE 100

UKX:IND

5,410.35

-26.3501

-0.48%

5,436.70

5,436.70

5,348.64

-

18-Oct

 

 

TSX Composite

SPTSX:IND

12,053.11

130.07

1.09%

11,867.50

12,066.18

11,755.85

-

18-Oct

 

 

S&P 500

SPX:IND

1,225.38

24.52

2.04%

1,200.75

1,233.10

1,191.48

-

18-Oct

 

 

ASX

Aspire Mining

AKM:AU

A$

0.41

-0.03

-6.82%

0.42

0.42

0.405

3,516,983

18-Oct

-14.58%

115.79%

Blina Minerals

BDI:AU

A$

0.015

0.001

7.14%

0.014

0.015

0.014

751,192

18-Oct

0.00%

-6.25%

C@

CEO:AU

A$

0.074

-0.003

-3.90%

0.075

0.075

0.074

665,026

18-Oct

164.29%

362.50%

General Mining

GMM:AU

A$

0.155

0

0.00%

0.14

0.155

0.14

0

17-Oct

29.17%

3.33%

Guildford Coal

GUF:AU

A$

1.07

-0.01

-0.93%

1.06

1.07

1.03

273,948

18-Oct

46.58%

101.89%

Haranga Resources

HAR:AU

A$

0.195

-0.005

-2.50%

0.205

0.205

0.19

170,000

18-Oct

-69.53%

 

Hunnu Coal

HUN:AU

A$

1.765

-0.005

-0.28%

1.77

1.775

1.76

2,226,359

18-Oct

32.21%

81.96%

Mongolian Res Corp

MUB:AU

A$

0.26

0

0.00%

0.25

0.26

0.25

0

30-Sep

 

Robe Australia

ROB:AU

A$

0.015

0

0.00%

0.016

0.016

0.013

0

17-Oct

60.43%

TVN Corp.

TVN:AU

A$

0.051

-0.001

-1.92%

0.051

0.051

0.05

2,908,950

18-Oct

410.00%

628.57%

Voyager Resources

VOR:AU

A$

0.096

-0.003

-3.03%

0.096

0.099

0.095

8,767,100

18-Oct

79.02%

168.53%

Xanadu Mines

XAM:AU

A$

0.44

0

0.00%

0.44

0.44

0.44

126,040

18-Oct

-22.12%

HKEx

Solartech Int’l

1166:HK

HKD

0.191

-0.011

-5.45%

0.2

0.2

0.181

3,740,000

18-Oct

-80.10%

-85.31%

Winsway

1733:HK

HKD

2.16

-0.08

-3.57%

2.16

2.19

2.1

25,465,000

18-Oct

-51.94%

-36.59%

SouthGobi Resources

1878:HK

HKD

56.35

-3.4

-5.69%

57

57.5

56.1

25,390

18-Oct

-43.37%

-25.71%

China Gold

2099:HK

HKD

23.45

-2.55

-9.81%

24.8

24.8

22.85

186,400

18-Oct

-44.17%

CNNC Int’l

2302:HK

HKD

1.87

-0.17

-8.33%

1.93

1.95

1.86

549,000

18-Oct

-78.51%

-73.96%

Real Gold Mining

246:HK

HKD

8.86

0

0.00%

8.86

8.86

8.86

0

18-Oct

-34.28%

-35.14%

Mongolia Energy

276:HK

HKD

0.59

-0.08

-11.94%

0.63

0.64

0.58

19,507,500

18-Oct

-74.57%

-81.73%

Zijin Mining

2899:HK

HKD

3.05

-0.09

-2.87%

3

3.08

2.98

55,875,700

18-Oct

-35.34%

-37.51%

Mongolia Inv Group

402:HK

HKD

0.048

-0.003

-5.88%

0.052

0.052

0.048

5,162,000

18-Oct

-67.57%

-71.26%

North Asia Resources

61:HK

HKD

0.45

0.01

2.27%

0.425

0.45

0.425

140,000

18-Oct

-50.55%

-69.80%

China Daye Non-Fer.

661:HK

HKD

0.425

-0.02

-4.49%

0.44

0.44

0.415

5,332,000

18-Oct

-24.11%

-4.49%

Bestway Int’l

718:HK

HKD

0.043

-0.002

-4.44%

0.043

0.043

0.043

100,000

18-Oct

-69.50%

-72.44%

Asia Coal

835:HK

HKD

0.112

-0.008

-6.67%

0.112

0.112

0.112

1

18-Oct

-55.20%

-58.52%

Mongolian Mining

975:HK

HKD

6.75

-0.27

-3.85%

6.87

6.87

6.73

2,062,400

18-Oct

-25.58%

-20.02%

SGX

LionGold

LIGO:SP

SGD

0.86

-0.005

-0.58%

0.865

0.865

0.855

9,870,000

18-Oct

17.81%

107.23%

LSE

Central Asia Metals

CAML:LN

GBp

68

0

0.00%

68

68

68

0

18-Oct

-24.65%

-28.04%

Petro Matad

MATD:LN

GBp

31.25

3

10.62%

28.25

31.5

28.25

325,387

18-Oct

-74.39%

-78.45%

Metal-Tech

MTT:LN

GBp

5.5

0

0.00%

5.5

5.5

5.5

493

18-Oct

-64.52%

-57.69%

Origo Partners

OPP:LN

GBp

30.25

0.125

0.41%

30.25

30.25

30.25

48,144

18-Oct

-26.22%

-8.33%

North

America

Aberdeen Int’l

AAB:CN

CAD

0.65

0

0.00%

0.64

0.65

0.62

53,700

18-Oct

-19.62%

23.55%

Blue Zen Mem. Parks

BZM:CN

CAD

0.16

0

0.00%

0.16

0.16

0.16

4,380

18-Oct

Centerra Gold

CG:CN

CAD

20.2982

0.1082

0.54%

20.18

20.81

19.76

558,727

18-Oct

4.50%

13.29%

China Gold

CGG:CN

CAD

3.17

0

0.00%

3.16

3.25

2.96

293,997

18-Oct

-41.62%

-40.08%

Denison Mines

DML:CN

CAD

1.24

0.04

3.33%

1.18

1.25

1.15

1,226,310

18-Oct

-63.64%

-42.59%

Denison Mines

DNN:US

$

1.22

0.05

4.27%

1.17

1.23

1.12

1,201,536

18-Oct

-64.33%

-43.26%

East Asia Minerals

EAS:CN

CAD

0.65

-0.01

-1.52%

0.66

0.67

0.65

375,159

18-Oct

-91.91%

-90.59%

Entree Gold

EGI:US

$

1.67

0.07

4.38%

1.56

1.68

1.51

97,650

18-Oct

-51.73%

-41.40%

Erdene Resource

ERD:CN

CAD

0.54

0

0.00%

0.52

0.54

0.48

38,250

18-Oct

-56.45%

17.39%

Entree Gold

ETG:CN

CAD

1.71

0.06

3.64%

1.55

1.71

1.55

59,350

18-Oct

-50.72%

-41.03%

Fortress Minerals

FST:CN

CAD

4.1

0

0.00%

4.1

4.1

4.1

75,000

18-Oct

-5.75%

24.24%

Garrison Int’l

GAU:CN

CAD

0.03

0

0.00%

0.03

0.03

0.03

0

17-Oct

-66.67%

-40.00%

Gulfside Minerals

GMG:CN

CAD

0.09

0

0.00%

0.09

0.09

0.09

3,626

18-Oct

-5.26%

-40.00%

Green Tech Solutions

GTSO:US

$

0.129

0.0179

16.11%

0.1111

0.129

0.111

81,869

18-Oct

-96.78%

Ivanhoe Energy

IE:CN

CAD

1.32

0.03

2.33%

1.29

1.34

1.24

430,119

18-Oct

-51.47%

-43.10%

Ivanhoe Energy

IVAN:US

$

1.3

0.03

2.36%

1.27

1.322

1.21

767,272

18-Oct

-52.21%

-43.48%

Ivanhoe Mines

IVN:CN

CAD

17.5376

0.3876

2.26%

16.82

18.35

16.71

1,922,370

18-Oct

-23.75%

-23.35%

Ivanhoe Mines

IVN:US

$

18

1.19

7.08%

16.63

18.14

16.32

4,843,364

18-Oct

-21.47%

-20.27%

Kincora Copper

KCC:CN

CAD

0.38

0

0.00%

0.38

0.38

0.38

20,339

18-Oct

40.74%

261.91%

Khan Resources

KRI:CN

CAD

0.27

0.015

5.88%

0.24

0.27

0.24

39,000

18-Oct

-43.75%

-30.77%

Long Harbour

LHC:CN

CAD

0.16

0

0.00%

0.16

0.16

0.16

0

7-Oct

 

Lucky Strike

LKY:CN

CAD

0.7

0.05

7.69%

0.68

0.7

0.67

54,500

18-Oct

-51.72%

324.24%

Lucky Strike

LKYSF:US

$

0.6845

0

0.00%

0.6845

0.6845

0.6845

0

11-Oct

-51.76%

Meritus Minerals

MER:CN

CAD

0.035

0

0.00%

0.04

0.05

0.035

147,000

18-Oct

-82.50%

-92.86%

Manas Petroleum

MNAP:US

$

0.195

0

0.00%

0.195

0.2

0.183

89,574

18-Oct

-67.50%

-62.50%

Mongolia Growth Group

MNGGF:US

$

4.4823

-0.0402

-0.89%

4.4652

4.4825

4.4652

5,000

18-Oct

Blue Wolf Mongolia

MNGL:US

$

9.58

0

0.00%

9.59

9.61

9.58

0

14-Oct

Blue Wolf Mongolia

MNGLU:US

$

10.23

0.03

0.29%

10.2

10.23

10.2

2,400

18-Oct

Manas Petroleum

MNP:CN

CAD

0.18

0

0.00%

0.18

0.18

0.18

0

11-Oct

Prophecy Coal

PCY:CN

CAD

0.51

0.045

9.68%

0.485

0.51

0.485

193,474

18-Oct

-41.02%

-26.27%

Prophecy Coal

PRPCF:US

$

0.5043

0.0333

7.07%

0.4756

0.506

0.4756

8,500

18-Oct

-42.82%

-24.55%

Puget Ventures

PVS:CN

CAD

0.49

0

0.00%

0

17-Sep

SouthGobi Resources

SGQ:CN

CAD

7.47

-0.07

-0.93%

7.41

7.53

7.23

26,465

18-Oct

-38.67%

-26.48%

Solomon Resources

SRB:CN

CAD

0.08

0

0.00%

0.08

0.08

0.08

0

17-Oct

-62.79%

-79.49%

Wedge Energy

WEG:CN

CAD

0.015

0

0.00%

0

3-Aug

 

 

Mongolia Growth Group

YAK:CN

CAD

4.53

-0.07

-1.52%

4.55

4.55

4.53

13,300

18-Oct

 

 

 

---

"Mogi" Munkhdul Badral

Senior Client Manager / Executive Director

CPS International LLC

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.

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