WORLD INDICES

Change %
(Day)
YTD change %
MSE - Top20 MN 15,710.28 -1.49 -3.63
DJIA US 17,078.28 0.06 3.03
S&P 500 US 2,000.72 -0.08 8.24
Nasdaq US 4,572.57 -0.56 9.48
S&P/TSX comp CN 15,657.63 0.25 14.95
FTSE 100 UK 6,873.58 0.65 1.84
S&P/ASX 200 US 5,638.60 -0.31 5.35
Hang Seng HK 25,317.95 2.30 8.63
Bloomberg/asia.pac ASIA 180.13 -0.01 7.13
COMMODITY PRICES
Change %
(Day)
YTD change %
Prime Coking Coal /Tianjin 140.03 0.00 -26.50
Zinc Spot /LME 2,362.00 -0.57 15.05
Iron Ore 58% /Tianjin 75.30 -0.92 -37.25
Copper Spot /LME 6,926.00 -0.82 -6.10
Oil 95.54 2.86 -2.93
Gold Spot /LME 1,270.25 0.07 5.71
Silver Spot /LME 19.23 0.23 -1.26
MONGOLIAN ECONOMIC INDICATORS
Date Last
YoY change
%
RGDP /bln. MNT/ 2014.07 9,857 5.3
NGDP /bln.MNT/ 2014.07 6,635 14.6
Inflation 2014.07 14.9
Foreign reserve /mln. USD/ 2014.06 1,317.5 -57.6
Policy rate July 31 ,2014 12.00
DEBT MARKET
Bonds - Coupon
Amt.
issued mln
USD
Last Yield Maturity date
DBM bond - 5.75 580 97.49 6.845 3/21/2017
MMC bond - 8.875 600 62.65 31.095 3/29/2017
Mongol 2018 - 4.125 500 94.60 5.775 1/5/2018
Mongol 2022 - 5.125 1,000 88.01 6.937 12/5/2022
TDBM 2015 - 8.5 300 99.92 8.577 9/20/2015
TDBM 2015 - 12.5 25 99.88 12.343 11/17/2015
TDBM 2017 - 10 dim sum 115 97.19 11.061 1/21/2017
DBM bond - 1.52 sam. 290 103.23 1.145 12/25/2023
INDICES CHANGE
MSE TOP 5 MOST TRADED
Trade value '000
2014-09-04
4 September 2014
Daily Report
Performance
Last Country Index
Indicator
Performance
Last
USD
Commodity
MONGOLIAN RELATED NEWS
President of Russia on working visit to Mongolia
Vladimir Putin had talks in Ulan Bator with President of Mongolia Tsakhiagiin Elbegdorj. The two
presidents exchanged views on matters concerning current bilateral relations. Following the talks,
they also witnessed the signing of a package of bilateral agreements. Documents signed include, in
particular, intergovernmental agreements on reciprocal conditions for citizens travel, on readmission,
and on forest fire protection. Various ministries and agencies also signed agreements and
memorandums on construction, transport, finance, justice matters, information cooperation, and
training in Russia for specialists from Mongolia.
(Source: http://eng.kremlin.ru/news/22892)
Gazprom, CNPC to decide on gas pipeline to China via Mongolia
Russias Gazprom and China National Petroleum Corporation (CNPC) will need to decide whether
their gas pipeline will run through Mongolia or not, Russian Natural Resources and the Environment
Minister Sergei Donskoy on Wednesday. During his talks with Russian President Vladimir Putin,
Mongolian President Tsakhiagiin Elbegdorj suggested building the pipeline across his country. He
said Mongolias proposal could be attractive since the pipeline will run mainly across the plains and
therefore will need fewer booster stations. But problems may arise if the pipeline crosses nature
reserves in Mongolia, he added. Donskoy said this issue had been under discussion since the
autumn of 2013. In May 2014, Gazprom and China National Petroleum Corporation (CNPC) signed a
$400 billion contract for the supply of Russian pipeline gas to China. Under the contract, Russia will
supply 38 billion cubic meters of gas a year for 30 years. CNPC is Chinas largest petroleum company
owned by the state and is one of the world's leading integrated oil and gas production companies. In
October 2009, Gazprom and CNPC concluded the Framework Agreement on the major terms and
conditions of natural gas supply from Russia to China. The Agreement stipulates annual exports of up
to 68 billion cubic meters of gas to the Chinese market. In September 2010 the Extended Major
Terms of natural gas supply from Russia to China were signed. In March 2013, Gazprom and CNPC
signed the Memorandum of Understanding for cooperation between the two companies in pipeline
gas deliveries to China via the eastern route. In September 2013, Gazprom and CNPC inked an
agreement determining major terms and conditions of pipeline gas supply from Russia to China via
the so-called eastern route, which will transport 38 billion cubic metres of Russian gas to China. The
western route will deliver West Siberian gas to China from 2019.
(Source: http://en.itar-tass.com/economy/747932)
SouthGobi Resources makes second distress call as coal slumps
SouthGobi Resources Limited (1878), a Mongolian coal miner controlled by Rio Tinto Plc, said that
its seeking additional funding for a second time in 6 months to stay in business amid a slump in coal
prices. The miner, listed on exchanges in Hong Kong and Toronto, said that there can be no
assurance that it will have sufficient money through December to remain a going concern amid
pressure on margins and liquidity, according to a stock exchange filing today. Its seeking more
funding including coal prepayments, and is minimizing capital spending. In March highlighted debt
repayment concern as coal prices tumbled. Miners from Mongolia to Indonesia have faced a cash
crunch following a 15.7% slump in coking coal prices this year, adding to a 47% slide in the previous
3 years. According to Bank of America Merrill Lynch index data, bonds sold by global junk-rated
mining and metals producers rose 3.59% this year, versus 5.66% in 2013 and 7.43% in 2012.
(Source:
http://coal.steelguru.com/other_asia/17261/southgobi_resources_makes_second_distress_call_as_c
oal_slumps)
GLOBAL NEWS
Asian Stocks Hold Gains as Samsung Buoys Kospi; Oil Drops
Asian stocks fluctuated, with the benchmark index near a one-month high as Samsung (005930)
Electronics Co. drove gains in South Korean shares. Emerging-market currencies in the region
climbed before central banks in Japan and the euro-zone review monetary policy, while oil retreated.
The MSCI Asia Pacific Index added less than 0.1 percent by 10:08 a.m. in Seoul, set to hold its
highest close since July 30. Koreas Kospi index gained 0.5 percent as Samsung rose for the first
time in five days after unveiling new smartphones. Nasdaq 100 Index futures were little changed after
Apple Inc. (AAPL) led a 0.6 percent drop in the U.S. technology gauge in New York. The Thai baht
strengthened 0.2 percent against the dollar. Crude oil fell in New York and London after surging
yesterday. Bank of Japan Governor Haruhiko Kuroda delivers his policy statement before European
Central Bank chief Mario Draghi reviews interest rates in Frankfurt. Both emphasized the need to fight
deflation and ignite growth at a symposium in Jackson Hole, Wyoming, last month. Samsungs
release of two new Galaxy Note phones helped fuel Apples steepest drop since January, amid
concerns over account security. Ukraine and Russia made differing statements about a cease-fire in
NEWS & ANALYSIS
-3.63
3.03
9.48
14.95
1.84
5.35
8.63
0.78
-3.61
YTD %
-1.49
0.06
-0.56
0.25
0.65
-0.31
2.30
1.26
-0.16
MSE - Top20
DJIA
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
DAX
Nikkei 225
Change % (Day)
1,098
11
35
9
360
600
0 500 1,000 1,500
GOV
HGN
HRM
JTB
MIB
OLL
-1.25%
-0.42%
0.00%
-2% -1% 0% 1% 2%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
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Volume MSETOP Index
Daily Report | 2014.09.04

4 September 2014 2
MONGOLIAN RELATED COMPANIES
Name Sym Currency Last Chg day % YTD %
Trade value
000 USD
Market cap
mln USD/
52w high 52w low
Currency
cross
Turquoise Hill TRQ US Equity USD 3.350 -0.89 1.52 29,586.0 6,741.20 4.36 3.01 1.00
Centerra Gold CG CN Equity CAD 6.600 -1.20 52.78 3,665.1 1,432.72 6.90 2.82 1.09
MMC 975 HK Equity HKD 0.660 0.00 -35.92 160.0 315.51 1.63 0.48 7.75
Denison Mines Corp DML CN Equity CAD 1.450 0.69 12.40 540.4 673.00 1.95 1.01 1.09
Winsway Coking Coal Holdings Ltd 1733 HK Equity HKD 0.415 0.00 -15.31 38.7 202.04 0.71 0.31 7.75
MoEnCo 276 HK Equity HKD 0.227 0.00 -6.58 125.2 197.89 0.29 0.15 7.75
SouthGobi Resources 1878 HK Equity HKD 4.520 0.00 -34.30 93.8 109.24 10.22 4.38 7.75
Central Asia Metals PLC CAML LN Equity GBp 170.000 0.00 20.57 3,421.5 308.94 190.00 125.00 0.61
Mongolia Investment Group Ltd 402 HK Equity HKD 0.176 0.00 -39.31 201.6 152.05 0.43 0.16 7.75
Mongolia Growth Group YAK CN Equity CAD 2.400 2.13 5.73 23.4 76.58 3.07 1.71 1.09
North Asia Resources Holdings Ltd 61 HK Equity HKD 0.146 0.00 -19.78 192.9 65.93 0.25 0.10 7.75
Guildford Coal Ltd GUF AU Equity AUD 0.058 1.75 -30.00 2.2 45.86 0.15 0.05 1.07
Origo Partners PLC OPP LN Equity GBp 7.875 0.00 6.78 0.0 46.24 10.38 6.63 0.61
Entree Gold Inc ETG CN Equity CAD 0.300 3.45 -3.23 8.3 40.49 0.53 0.27 1.09
Aspire Mining Ltd AKM AU Equity AUD 0.053 6.00 -5.36 7.7 32.64 0.08 0.03 1.07
Prophecy Coal Corp PCY CN Equity CAD 0.080 0.00 0.00 19.0 18.50 0.13 0.04 1.09
FeOre Ltd FEO AU Equity AUD 0.050 0.00 21.95 0.3 24.75 0.08 0.03 1.07
Petro Matad Ltd MATD LN Equity GBp 2.875 0.00 -23.33 742.1 13.22 11.50 2.63 0.61
Xanadu Mines Ltd XAM AU Equity AUD 0.160 6.67 220.00 0.0 36.15 0.18 0.03 1.07
Haranga Resources Ltd HAR AU Equity AUD 0.031 0.00 -50.00 0.8 7.01 0.10 0.03 1.07
Wolf Petroleum Ltd WOF AU Equity AUD 0.065 0.00 -7.14 11.4 15.92 0.09 0.03 1.07
Manas Petroleum Corp MNAP US Equity USD 0.059 -12.67 -14.45 4.4 10.11 0.09 0.04 1.00
Khan Resources Inc KRI CN Equity CAD 0.380 0.00 33.33 22.9 23.77 0.45 0.15 1.09
Voyager Resources Ltd VOR AU Equity AUD 0.002 0.00 -50.00 0.0 2.90 0.01 0.00 1.07
East Asia Minerals Corp EAS CN Equity CAD 0.035 0.00 -12.50 0.2 3.61 0.15 0.03 1.07
Erdene Resource Development Corp ERD CN Equity CAD 0.145 -6.45 3.57 0.3 9.98 0.26 0.07 1.09
Modun Resources Ltd MOU AU Equity AUD 0.003 0.00 -25.00 3.4 3.58 0.01 0.00 1.07
Kincora Copper Ltd KCC CN Equity CAD 0.055 -8.33 120.00 1.3 15.42 0.09 0.02 1.09
General Mining Corp Ltd GMM AU Equity AUD 0.012 0.00 -29.41 0.3 1.51 0.03 0.01 1.07
Draig Resources Ltd DRG AU Equity AUD 0.017 0.00 -51.43 0.4 1.06 0.04 0.01 1.07
Newera Resouces Ltd NRU AU Equity AUD 0.002 0.00 -66.67 1.1 2.21 0.01 0.00 1.07
Blina Minerals NL BDI AU Equity AUD 0.002 0.00 100.00 0.2 2.70 0.00 0.00 1.07
Source: Bloomberg
MONGOLIAN STOCK MARKET
3 September 2014 17 JSC's 30,239 shares worth 15.91 mln MNT have been
traded.
TOP20 index was 15,710.28 -1.49% YTD -3.63%
Company name Trade volume
Trade
value '000
Last Chg day Chg day %
Buy
volume
Buy price Sell price Sell volume
Market
cap (mln)
EPS ROE
APU 1539 5771.25 3750 -100 -2.60% 200 3600 3750 834
GOV 139 1098.1 7900 -100 -1.25% 314 7900 8000 23
HGN 89 10.502 118 -1 -0.42% 1500 111 118 1500
HRM 200 34.8 174 0 0.00% 140 171 174 100
JTB 100 8.65 86.5 1 1.65% 150 85 86.5 4900
MIB 1309 359.975 275 4 1.48% 1000 270 275 3691
OLL 5000 600 120 0 0.00% 5 102 120 20000
RMC 10 1.34 134 -16 -10.67% 140 130 150 1000
SHG 216 1555.2 7200 -145 -1.97% 48 7105 7330 30
SHV 14 95.55 6825 -75 -1.09% 4 6145 6900 92
TCK 167 3366.72 20160 -840 -4.00% 4 20020 21000 43
UID 298 169.86 570 10 1.79% 404 560 620 449
UYN 171 221.787 1297 -7 -0.54% 100 1100 1350 14
AOI 24 96 4000 1 0.03% 3970 3000 4100 1
ETR 15960 1404.48 88 -9 -8.87% 0 0 97.5 1808
SIL 5000 1050 210 -15 -6.67% 0 0 210 400
UND 3 18 6000 700 13.21% 0 0 6000 27
30 day graphic
Change day
-1
2013.06 2702.1
2013.06 7591
13606.65
3800
4 September 2014
3
Diclaimer
This document has been prepared by the investment banking division of Golomt Bank for information purpose only. The views
expressed are the 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
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
independently determine, with your own advisors, the appropriateness for you of the securities/transactions before investing
or transacting.
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.

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
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Contact

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Fax: +976-70117676 /1402/
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Website: www.golomtbank.com