2014-12-12

Daily Report
Report
Daily
|
NEWS & ANALYSIS

12 December 2014

2014.12.12
Performance

Index

Country

MSE - Top20
DJIA
S&P 500
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
Bloomberg/asia.pac

MN
US
US
US
CN
UK
US
HK
ASIA

Last

Change %
(Day)

15,049.14
17,596.34
2,035.33
4,708.16
13,905.12
6,461.70
5,209.30
23,328.99
178.88

YTD change %

1.98
0.36
0.45
0.52
0.38
-0.59
-0.41
0.07
0.04

-7.68
6.15
10.12
12.73
2.08
-4.26
-2.67
0.10
6.39

COMMODITY PRICES

Performance

Last
USD

Commodity
Prime Coking Coal /Tianjin
Zinc Spot /LME
Iron Ore 58%/Tianjin
Copper Spot /LME
Oil
Gold Spot /LME
Silver Spot /LME

Change %
(Day)

138.81
2,180.75
73.13
6,517.50
59.09
1,224.90
17.10

YTD change %

0.00
0.73

-26.50
6.22
-46.14
-11.64
-39.96
1.94
-12.20

0.65
-1.43
-0.23
0.01

MONGOLIAN ECONOMIC INDICATORS

Indicator
RGDP /bln. MNT/
NGDP /bln.MNT/
Inflation
Foreign reserve /mln. USD/
Policy rate

Date

Last

2014.07
2014.07
2014.10
2014.09
July 31 ,2014

9,857
6,635
1,542.7
12.00

Last

Yield

YoY change
%
5.3
14.6
12.1
-42.4

DEBT MARKET

Amt.
issued mln
USD
DBM bond - 5.75
580
MMC bond - 8.875
600
Mongol 2018 - 4.125
500
Mongol 2022 - 5.125
1,000
TDBM 2015 - 8.5
300
TDBM 2015 - 12.5
25
TDBM 2017 - 10 dim sum
115
DBM bond - 1.52 sam.
290
Bonds - Coupon

97.50
67.50
94.70
89.32
99.88
100.00
97.81
103.61

Maturity date

6.957
29.344
5.837
6.788
8.641
12.175
10.939
1.090

3/21/2017
3/29/2017
1/5/2018
12/5/2022
9/20/2015
11/17/2015
1/21/2017
12/25/2023

INDICES CHANGE

0.07

S&P/ASX 200

-0.41

FTSE 100

-0.59

S&P/TSX comp

0.38

Nasdaq

0.52

DJIA

3.25

0.64

Hang Seng

0.10

-4.26
2.08

12.73
6.15
1.98

-7.68

Change % (Day)

Volume

YTD %

MSE TOP 5 MOST TRADED

Trade value '000

HGN

GLOBAL NEWS
Dollar Gains as Krone at 2003 Low on $60 Oil; Topix Rises
The U.S. dollar advanced, with Norways krone falling to an 11-year low as oil in New York extended
declines after settling below $60 a barrel for the first time since July 2009. Japanese shares rose after
U.S. stocks advanced following better-than-estimated retail data. The dollar gained against most
peers by 9:58 a.m. in Tokyo with the krone down 0.7 percent at 7.3437 to the greenback and the
currencies of Australia and New Zealand at least 0.2 percent lower. West Texas Intermediate crude
slumped 1.7 percent to $58.91. The Topix index added 0.2 percent as the yen weakened a second
day. Hang Seng Index futures were little changed in recent trading after a person familiar with the
matter said Chinas central bank injected 400 billion yuan ($65 billion) into the banking system. Oils
collapse into a bear market has been exacerbated as Saudi Arabia, Iraq and Kuwait, OPECs three
largest members, offered the deepest discounts on exports to Asia in at least six years. China
Business News reported that the countrys leadership cut its economic growth target for 2015 at a
policy-setting meeting in Beijing. Investors are scrutinizing economic data before the Federal
Reserves policy meeting next week to help determine the timing of any increase in interest rates.
U.S. stocks closed higher after better-than-estimated economic data.
http://www.bloomberg.com/news/2014-12-11/yen-retreats-second-day-as-oil-extends-decline-below60.html

-2.67

0.36

MSE - Top20

Mining Minister reports on license bids

The cabinet meeting on December 10 heard the report of R.Jigjid, Minister of Mining, on
implementation of the regulation on selecting owners for 106 exploration and exploitation licenses
that have been cancelled in accordance with the court decisions and on process of the related to it
bids. The regulation has been adopted this year by the Government Resolution No.216. Three-level
court concluded in 2013 the ownership of the 106 special licenses was illegal, being conducted
without any selection procedures required. Therefore, the cabinet in July this year adopted the above
regulation to compensate the damages inflicted to the companies-owners of these licenses. The
document regulates a preparation for the bids in order to provide equality for the competing
companies, activities of the bid committee, criteria for selection, and assessment of the proposals for
the selection. Threshold prices have been designated based on the estimated expenses provided by
the former operating companies with guaranteed financial information. Data from the Land Register
System shows that operations of 18 sites had been already cancelled, before the court decisions,
nine sites are in special-use territories, one site is in a strategic deposit, and 46 sites are not listed in
any special areas," said the Minister. The bid processes are running normally at the moment, he
added.
http://mongolia.gogo.mn/r/143058

Thousands

DAX

6.77

0.79

Nikkei 225

MONGOLIAN RELATED NEWS

KINCORA COPPER IDENTIFIES NEW TARGETS AT BRONZE FOX
Mongolia-based copper explorer Kincora 2014 field work has identified a number of new targets at its
Bronze Fox prospect but nothing economic as yet, it said on Thursday. Sam Spring, Kincoras chief
executive, added:As with previous field seasons, this years activities returned extensive copper at
various targets without yet defining mineralization that could be considered economic. One of the
last holes of the year returned favourable gold mineralization in a new zone at Sophie North. A
number of targets remain open and prospective for both copper and gold throughout the Bronze Fox
license with further systematic surface exploration expected in 2015, a plan for which has been
defined and supported by existing cash reserves, and drilling. "Spring added that the company will not
explore any further on the Golden Grouse gold licences until the dispute with the Mongolian
government over tenure is resolved, reports the Proactive Investors. "Kincora Copper Limited is a
mining exploration and development company focused on copper/gold mineralization projects in
Mongolia. Its key asset is the Bronze Fox copper/gold deposit located in South East Mongolia and
within the world-class Oyu Tolgoi copper belt. Bronze Fox was explored by numerous expeditions in
the past, several high anomaly areas have been identified with the potential for further development."
http://en.montsame.mn/mining/item/9467-kincora-copper-identifies-new-targets-at-bronze-fox

MSETOP Index

16,000

20,000

14,000

18,000
16,000

12,000

14,000

10,000

12,000

8,000

10,000

6,000

8,000

GOV

0.27%

1,239

6,000

4,000

4,000

2,000
0.00%

2%

October-14

July-14

August-14

May-14

June-14

April-14

March-14

January-14

October-13

July-13

August-13

May-13

December-14

0%

November-14

-2%

September-14

-4%

February-14

-6%

June-13

0.00%

December-13

4,000

November-13

2,000

September-13

April-13

3,480

0
March-13

BNG

2,000

0
January-13

3,256

February-13

BUK

12 December 2014

MONGOLIAN RELATED COMPANIES

Trade value 000 Market cap mln
USD
USD/

52w high

52w low

Currency
cross

-5.76

7,856.0

6,258.25

4.36

2.93

1.00

27.55

6,088.3

1,128.06

6.90

3.16

1.15

-1.14

-37.89

9.6

519.79

0.84

0.33

7.75

1.120

1.82

-13.18

1,303.8

490.67

1.95

1.02

1.15

HKD

0.290

0.00

-40.82

55.7

141.16

0.55

0.28

7.75

276 HK Equity

HKD

0.450

0.00

-53.70

158.7

98.06

1.06

0.44

7.75

SouthGobi Resources

1878 HK Equity

HKD

4.000

0.00

-41.86

43.7

112.88

8.06

3.60

7.75

Central Asia Metals PLC

CAML LN Equity

GBp

173.250

0.87

22.87

13,379.0

303.23

190.00

141.00

0.64

Mongolia Investment Group Ltd

402 HK Equity

HKD

0.200

-1.48

-31.03

0.5

172.91

0.38

0.16

7.75

Mongolia Growth Group

YAK CN Equity

CAD

1.190

8.18

-47.58

39.2

35.91

3.07

0.93

1.15

North Asia Resources Holdings Ltd

61 HK Equity

HKD

0.139

0.00

-23.63

18.0

108.22

0.21

0.10

7.75

Guildford Coal Ltd

GUF AU Equity

AUD

0.037

0.00

-55.35

73.8

28.00

0.11

0.04

1.21

Origo Partners PLC

OPP LN Equity

GBp

6.938

0.00

-5.93

43.6

38.90

8.25

6.88

0.64

Entree Gold Inc

ETG CN Equity

CAD

0.250

16.28

-19.35

45.8

31.82

0.52

0.18

1.15

Aspire Mining Ltd

AKM AU Equity

AUD

0.032

0.00

-42.86

1.5

18.56

0.07

0.03

1.21

Prophecy Coal Corp

PCY CN Equity

CAD

0.060

9.09

-25.00

0.8

13.09

0.11

0.04

1.15

FeOre Ltd

FEO AU Equity

AUD

0.026

0.00

-36.59

0.2

11.34

0.08

0.02

1.21

Petro Matad Ltd

MATD LN Equity

GBp

2.500

0.00

-33.33

108.7

10.98

11.50

2.00

0.64

Xanadu Mines Ltd

XAM AU Equity

AUD

0.105

0.00

110.00

0.9

32.33

0.18

0.03

1.21

Haranga Resources Ltd

HAR AU Equity

AUD

0.014

0.00

-77.42

8.1

3.02

0.09

0.01

1.21

Wolf Petroleum Ltd

WOF AU Equity

AUD

0.049

0.00

-30.00

8.1

10.90

0.08

0.03

1.21

Manas Petroleum Corp

MNAP US Equity

USD

0.120

0.00

75.18

7.9

20.04

0.17

0.04

1.00

Khan Resources Inc.

KRI CN Equity

CAD

0.420

0.00

47.37

15.3

24.78

0.45

0.20

1.15

Voyager Resources Ltd

VOR AU Equity

AUD

0.002

0.00

#N/A N/A

0.1

#VALUE!

#N/A N/A

#N/A N/A

1.21

East Asia Minerals Corp

EAS CN Equity

CAD

0.015

50.00

-62.50

0.7

1.36

0.11

0.01

1.21

Erdene Resource Development Corp

ERD CN Equity

CAD

0.085

-5.56

-39.29

2.6

6.06

0.26

0.08

1.15

Modun Resources Ltd

MOU AU Equity

AUD

0.003

0.00

-25.00

7.4

4.39

0.01

0.00

1.21

Kincora Copper Ltd

KCC CN Equity

CAD

0.025

-28.57

0.00

70.5

6.71

0.09

0.02

1.15

General Mining Corp Ltd

GMM AU Equity

AUD

0.007

0.00

-58.82

0.1

0.78

0.02

0.01

1.21

Draig Resources Ltd

DRG AU Equity

AUD

0.015

0.00

-57.14

0.6

0.82

0.04

0.01

1.21

Newera Resouces Ltd

NRU AU Equity

AUD

0.001

0.00

-83.33

1.2

1.01

0.01

0.00

1.21

Blina Minerals NL

BDI AU Equity

AUD

0.001

0.00

0.00

13.8

1.33

0.00

0.00

1.21

30 day graphic

Name

Sym

Currency

Last

Chg day %

Turquoise Hill

TRQ US Equity

USD

3.110

0.97

Centerra Gold

CG CN Equity

CAD

5.510

1.10

MMC

975 HK Equity

HKD

0.435

Denison Mines Corp

DML CN Equity

CAD

Winsway Coking Coal Holdings Ltd

1733 HK Equity

MoEnCo

YTD %

Source: Bloomberg
MONGOLIAN STOCK MARKET
11 December 2014

16

JSC's

TOP20 index

was

15,049.14

1,702

shares

worth

Change day

11.32

mln

MNT

1.98%

YTD

-7.68%

have

Company name

Trade volume

Trade value
'000

Last

Chg day

Chg day %

Buy
volume

Buy price Sell price

Sell volume

ADL

10

17

1670

0.00%

20

1551

1670

270

APU

3,779

29

0.77%

758

3750

3779

33

BNG

60

3,480

58,000

0.00%

55000

57000

BUK

76

3,256

42,840

0.00%

42840

15

GOV

167

1,239

7,420

20

0.27%

88

7400

7500

2044

HGN

20

100

-5

-4.76%

1000

95

100

3275

HRM

100

17

170

-3

-1.51%

102

161

170

9700

JTB

20

84

0.00%

1400

82

84

870

MIB

703

148

210

-5

-2.33%

10

220

249

120

NKT

10

319

0.00%

319

40

RMC

250

25

100

0.00%

170.00

97.00

100.00

19655.00

TAV

72

2,196

30500

500

1.67%

1.00

30000.00

0.00

0.00

TCK

117

19500

0.00%

21

19100

19500

84

TTL

175

787

4495

495

12.38%

4490

130

UID

30

17

579

0.46%

108

579

599

50

BEU

3579

-1

-0.03%

3579

been

traded.

12 December 2014

Investment Banking Division of Golomt Bank

The principal activities of Investment Banking Division constitute structuring, sourcing, negotiating and closing debt and equity
financings as well as the provision of incisive advisory services for private and public companies as well as institutions, public sector
agencies and authorities.
2
Our vision is to fuel the profitable
growth of our valued clients by providing the highest-quality investment banking services, and in so
doing create an environment which will lead to long term, mutually beneficial relationships. We strive to achieve these lasting
relationships by matching each client assignment with the collaborative expertise of the Banks team of seasoned banking and
investment professionals.
Contact
Sukhbaatar Square, Ulaanbaatar 210620A, Mongolia
Fax: +976-70117676 /1402/
E-mail: ibd@golomtbank.com
Website: www.golomtbank.com

Disclaimer
2014.09
2702.1
This
document has
been prepared by the investment banking division of Golomt Bank for information purpose only. The views
2013.06are the7591
expressed
views of the analyst and are subject to change based on market and other conditions and factors. The
information provided does not constitute investment advice or other recommendations and should not be relied on as such. It
should
not be considered a solicitation to buy or an offer to sell a security or to pursue any trading or investment strategy. All
13606.65
material, including information sourced from or attributed to Golomt Bank, has been obtained from sources believed to be
reliable, but its accuracy is not guaranteed. Past performance is no guarantee for future results. Accordingly you must
3250 for you of the securities/transactions before investing
independently determine, with your own advisors, the appropriateness
or transacting.