2015-01-08

Daily Report
Report
Daily
|
NEWS & ANALYSIS

8 January 2015

2015.01.08
Performance

Index

Last

Country

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

Change %
(Day)

14,624.93
17,584.52
2,025.90
4,650.47
14,285.00
6,419.83
5,380.80
23,681.26
184.70

MN
US
US
US
CN
UK
US
HK
ASIA

YTD change %

0.06
1.23
1.16
1.26
0.27
0.84
0.51
0.83
0.52

-1.54
-1.34
-1.60
-1.81
-2.37
-2.23
-0.56
0.32
0.34

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)

136.81
2,122.50
68.80
6,182.50
48.75
1,213.89
16.56

YTD change %

-1.16
-1.87

-1.16
-2.05
-49.33
-2.91
-8.49
2.49
5.43

-0.62
0.21
0.20
0.17

MONGOLIAN ECONOMIC INDICATORS

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

Date

Last

2014.09
2014.09
2014.11
2014.11
July 31 ,2014

11,094
16,517
1,352.1
12.00

Last

Yield

YoY change
%
7.0
18.8
11.5
-41.5

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

96.50
66.50
92.33
85.89
99.50
98.44
96.81
104.35

Maturity date

7.505
30.818
6.864
7.401
9.231
13.089
11.478
0.985

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

Nikkei 225

1.21

Hang Seng

-2.07
-2.93

0.51

0.32

0.83
0.51

S&P/ASX 200

FTSE 100

-0.56
0.84

S&P/TSX comp

-2.37

Nasdaq

1.26

DJIA

1.23
0.06

-1.81
-1.34
Volume

-1.54
YTD %

Change % (Day)
MSE TOP 5 MOST TRADED

Trade value '000

MBG

GLOBAL NEWS
Asian Stocks Rebound as Samsung Jumps; Crude Holds Gains
Asian stocks climbed, with the regional index rallying from a three-week low after U.S. equities
rebounded and Samsung (005930) Electronics Co. posted better-than-estimated earnings. The
Malaysian ringgit strengthened while crude oil maintained its advance. The MSCI Asia Pacific Index
rose 0.9 percent by 10:05 a.m. in Tokyo, climbing for the first time in four days as Samsung, the
worlds biggest smartphone maker, added 0.9 percent. Japans Topix index jumped 1.2 percent with
futures on the Standard & Poors 500 Index up 0.1 percent after the gauge rebounded from its longest
slump in more than a year. The ringgit rallied from a 5 1/2-year low as the euro traded near its lowest
level since 2006. Oil in New York extended gains into a second day. Signs of U.S. economic strength
and the prospect of expanded European stimulus provided a jolt to global equities, which slumped 3.1
percent over the first three trading days of the year as oil extended its descent into a bear market.
Strong demand from U.S. refineries ignited a rebound in West Texas Intermediate crude yesterday,
amid concern over a global glut. Japan reports on inflation expectations today, after the euro area
reported its first drop in consumer prices since 2009.
http://www.bloomberg.com/news/2015-01-07/asian-futures-pace-u-s-stock-rebound-on-economyoptimism.html

-2.23

0.27

MSE - Top20

Aspire Minings Ovoot blend a premium coking coal for China

Aspire Mining (ASX:AKM) has received an encouraging report confirming that a Mongolian Blend with
between 25% to 50% Ovoot coal is a premium coking coal using Chinese coal classifications. The
blend is considered to be similar or even better than primary coking coals imported from Australia, the
U.S., and Canada due to its medium ash, low sulphur and high G value. This comes as Chinese
demand for primary coking coal is predicted to increase due to changes in steel making technologies
and depletion of domestic coal reserves combined with continued steel production growth. The supply
gap for primary coking coals in China is expected to peak at 83 million tonnes by 2020. The report
was commissioned to assess the marketability and indicative pricing of the Mongolian Blend in order
to complete a Scoping Study to support the development of a regional coal blending facility at the
Sainshand Industrial Park. Preliminary internal analysis by Aspire indicates a positive cashflow
blending operation based on current pricing. Initial production is estimated to commence in 2018,
producing 5 million tonnes per annum of saleable coking coal and increasing in subsequent years to
achieve full scale production of up to 10Mtpa from both the open pit and underground operations.
http://www.proactiveinvestors.com.au/companies/news/59946/aspire-minings-ovoot-blend-a-premiumcoking-coal-for-china-59946.html

Thousands

DAX

MONGOLIAN RELATED NEWS

SouthGobi Announces the Dismissal of the Money Laundering Accusations and the Transfer
of the Tax Investigation Case Back to the Court of Justice in Mongolia
SouthGobi Resources Ltd. (SGQ)(1878) (the "Company") announced today that the Capital City
Prosecutor in Mongolia had dismissed the accusations of alleged money laundering against the
Company's three (3) former employees and transferred the tax investigation case back to Court. As
previously detailed by the Company in its Management Discussion and Analysis ("MD&A") for the
three months ended September 30, 2014 which is available at www.sedar.com, the Company has
been subject to investigations by the State Investigations Agency ("SIA") into allegations against the
Company and some of its former employees regarding possible breaches of Mongolia's money
laundering and taxation laws. A report issued by the experts appointed by the SIA on June 30, 2013
and again in January 2014 had recommended that the alleged accusations of money laundering
against the Company's three (3) former employees be withdrawn. The Company has been notified
that on December 30, 2014, the Capital City Prosecutor had decided to dismiss the allegations of
money laundering. The Company announced on November 10, 2014 that the Mongolian investigation
authority issued a resolution to order a re-investigation into alleged violations of Mongolian taxation
law. The Company has been informed that the re-investigation was completed and the case
transferred back to the Second District Criminal Court of Justice on December 31, 2014.
http://www.marketwatch.com/story/southgobi-announces-the-dismissal-of-the-money-launderingaccusations-and-the-transfer-of-the-tax-investigation-case-back-to-the-court-of-justice-in-mongolia2015-01-07-71733130

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

1,040

JTB

0.00%

31

6,000

4,000

4,000

2,000
-1.00%

January-15

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

-1%

September-14

-1%

February-14

-2%

December-13

1,500

June-13

0.00%
1,000

November-13

500

September-13

April-13

510

0
March-13

DHU

2,000

0
January-13

February-13

ETR

8 January 2015

MONGOLIAN RELATED COMPANIES

YTD %

Trade value
000 USD

Market cap mln

USD/

52w high

52w low

Currency
cross

-2.27

-2.58

9,000.2

6,077.14

4.36

2.75

1.00

0.60

11.59

7,925.8

1,348.01

6.90

3.16

1.18

0.330

0.00

-2.94

598.1

394.18

0.84

0.32

7.75

CAD

1.100

0.00

-2.65

2,424.6

470.77

1.95

1.02

1.18

1733 HK Equity

HKD

0.270

0.00

5.88

207.7

131.38

0.55

0.25

7.75

MoEnCo

276 HK Equity

HKD

0.475

0.00

18.75

160.8

103.47

1.06

0.38

7.75

SouthGobi Resources

1878 HK Equity

HKD

3.800

0.00

-1.55

25.8

107.20

6.35

3.49

7.75

Central Asia Metals PLC

Name

Sym

Currency

Last

Turquoise Hill

TRQ US Equity

USD

3.020

Centerra Gold

CG CN Equity

CAD

6.740

MMC

975 HK Equity

HKD

Denison Mines Corp

DML CN Equity

Winsway Coking Coal Holdings Ltd

30 day graphic

Chg day
%

CAML LN Equity

GBp

174.000

-0.57

-4.92

2,690.3

292.80

190.00

148.00

0.66

Mongolia Investment Group Ltd

402 HK Equity

HKD

0.290

0.00

-13.43

690.4

251.35

0.38

0.16

7.75

Mongolia Growth Group

YAK CN Equity

CAD

0.700

0.00

-5.41

8.4

20.64

3.07

0.68

1.18

61 HK Equity

HKD

0.149

0.00

0.68

22.5

116.86

0.21

0.10

7.75

Guildford Coal Ltd

GUF AU Equity

AUD

0.035

0.00

-2.78

8.7

26.02

0.11

0.03

1.23

Origo Partners PLC

OPP LN Equity

GBp

6.125

0.00

0.00

0.0

33.01

8.25

6.13

0.66

Entree Gold Inc

ETG CN Equity

CAD

0.210

-8.70

2.44

13.1

26.11

0.52

0.18

1.18

Aspire Mining Ltd

AKM AU Equity

AUD

0.033

-2.94

0.00

3.7

18.81

0.07

0.03

1.23

Prophecy Coal Corp

PCY CN Equity

CAD

0.060

-7.69

20.00

0.5

12.79

0.11

0.04

1.18

FeOre Ltd

FEO AU Equity

AUD

0.026

0.00

0.00

1.2

11.15

0.08

0.02

1.23

Petro Matad Ltd

MATD LN Equity

GBp

2.375

5.56

11.76

439.8

10.03

11.50

2.00

0.66

Xanadu Mines Ltd

XAM AU Equity

AUD

0.095

0.00

-5.00

0.1

27.97

0.18

0.03

1.23

Haranga Resources Ltd

HAR AU Equity

AUD

0.013

0.00

-7.14

1.0

3.60

0.09

0.01

1.23

Wolf Petroleum Ltd

WOF AU Equity

AUD

0.040

0.00

-11.11

6.5

9.70

0.08

0.03

1.23

Manas Petroleum Corp

MNAP US Equity

USD

0.060

0.00

-33.29

5.6

10.02

0.17

0.04

1.00

KRI CN Equity

CAD

0.410

0.00

-15.46

0.3

23.63

0.49

0.21

1.18

East Asia Minerals Corp

EAS CN Equity

CAD

0.020

100.00

100.00

0.6

1.95

0.11

0.01

1.23

Erdene Resource Development Corp

ERD CN Equity

CAD

0.125

13.64

19.05

0.1

8.74

0.26

0.09

1.18

Modun Resources Ltd

MOU AU Equity

AUD

0.004

0.00

33.33

10.0

5.75

0.01

0.00

1.23

Kincora Copper Ltd

KCC CN Equity

CAD

0.025

0.00

0.00

1.0

6.55

0.09

0.02

1.18

General Mining Corp Ltd

GMM AU Equity

AUD

0.005

0.00

0.00

0.0

0.54

0.02

0.01

1.23

Draig Resources Ltd

DRG AU Equity

AUD

0.016

0.00

23.08

0.8

0.86

0.04

0.01

1.23

Newera Resouces Ltd

NRU AU Equity

AUD

0.002

0.00

0.00

0.4

1.98

0.01

0.00

1.23

Blina Minerals NL

BDI AU Equity

AUD

0.001

0.00

0.00

0.0

1.30

0.00

0.00

1.23

North Asia Resources Holdings Ltd

Khan Resources Inc.

Source: Bloomberg

MONGOLIAN STOCK MARKET

7 January 2015
TOP20 index

14

JSC's

was

14,624.93

6,970

shares

worth

Change day

24.89

mln

MNT

0.06%

YTD

-1.54%

have

Company name

Trade volume

Trade value
'000

Last

Chg day

Chg day %

Buy
volume

Buy price Sell price

Sell volume

APU

4,900

18,375

3750

-1

-0.03%

20

3200

3900

212

BUK

45

1,890

42000

-840

-1.96%

42000

30

DHU

102

510

5000

0.00%

50

5000

ETR

64

99

-1

-1.00%

5000

85

99

2781

JTB

350

31

89

0.00%

65

84

90

8509

MBG

130

1,040

8000

0.00%

50

8000

MCH

13

18

1374

0.00%

20

1170

1379

91

MMX

60

221

3690

-10

-0.27%

3497

3690

269

NEH

81

1,418

17500

0.00%

119

17500

20000

TCK

21

389

18500

0.00%

89

18500

19400

15

TTL

20

84

4200

48

1.16%

100

4100

4300

99

UID

149

82

550

-20

-3.51%

101

550

599

50

UYN

35

37

1050

50

5.00%

265

950

1150

30

BHR

1,000

790

790

70

9.72%

250

590

790

9000

been

traded.

8 January 2015

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.
0
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.

92.333