WORLD INDICES

Change %
(Day)
YTD change %
MSE - Top20 MN 15,897.77 -0.23 -2.48
DJIA US 17,055.87 -0.68 2.89
S&P 500 US 1,982.77 -0.58 7.27
Nasdaq US 4,508.69 -0.42 7.95
S&P/TSX comp CN 15,125.67 -0.02 11.04
FTSE 100 UK 6,676.08 -1.44 -1.08
S&P/ASX 200 US 5,384.60 -0.57 0.61
Hang Seng HK 23,837.07 -0.49 2.28
Bloomberg/asia.pac ASIA 174.94 -0.34 4.04
COMMODITY PRICES
Change %
(Day)
YTD change %
Prime Coking Coal /Tianjin 140.10 0.00 -26.50
Zinc Spot /LME 2,246.75 0.77 9.44
Iron Ore 58% /Tianjin 70.20 -0.14 -41.50
Copper Spot /LME 6,770.50 -0.04 -8.21
Oil 91.56 0.76 -6.97
Gold Spot /LME 1,222.97 -0.04 1.78
Silver Spot /LME 17.78 -0.08 -8.67
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 99.24 6.084 3/21/2017
MMC bond - 8.875 600 66.25 28.703 3/29/2017
Mongol 2018 - 4.125 500 95.39 5.481 1/5/2018
Mongol 2022 - 5.125 1,000 89.49 6.719 12/5/2022
TDBM 2015 - 8.5 300 99.88 8.626 9/20/2015
TDBM 2015 - 12.5 25 99.38 12.829 11/17/2015
TDBM 2017 - 10 dim sum 115 97.19 11.112 1/21/2017
DBM bond - 1.52 sam. 290 103.02 1.167 12/25/2023
INDICES CHANGE
MSE TOP 5 MOST TRADED
Trade value '000
MONGOLIAN RELATED NEWS
Prophecy hopes to ship first coal through reopened border post by year-end
Mongolia-focused thermal coal producer and power plant project developer Prophecy Coal on
Tuesday reported that authorities had approved the companys general development plan (GDP) for
the Zeltura border crossing to Russia. Mongolian authorities approved a plan that would allow
Prophecy to reach Russian customers by a much more direct route, at cheaper costs, which bode
well for the company increasing margins at the flagship Ulaan Ovoo mine. The TSX- and Frankfurt-
listed miner said that the Ports General Authority had been instructed to take immediate measures to
implement the GDP. With GDP approval in hand, Prophecy expected the Mongolian Ministry of Road
and Transportation to approve the companys road feasibility study that it had previously submitted to
build a 17 km road to connect the Ulaan Ovoo mine to the Zeltura border. Prophecy was also working
with the Mongolian Customs General Administration to establish a customs inspection and clearance
area at the Ulaan Ovoo mine. Meanwhile, the company reported that it had so far this year sold and
delivered coal shipments from the Sukhbaatar rail siding to a number of Russian customers. Realised
sale prices for coal with gross calorific value (GCV) of 4 500 kcal/kg to 5 000kcal/kg with low ash
(less than 10%) and low sulphur (less than 1%) ranged from 1 800 to 2 400 roubles per tonne ($50/t
to $65/t). Sale prices were also dependent on the point of delivery in Russia. The company boasted
that in just a few months, Prophecy and Ulaan Ovoo coal had earned a good reputation in the
Russian Buryat region for supplier reliability and coal product quality. Prophecy said that the Russian
market remained a prime focus for Ulaan Ovoos management, who remained confident about the
prospect of increasing both the quantity of Russian sales and number of Russian customers over
time. The opening of the Zeltura border was expected to significantly reduce transportation costs and
thus, increase the companys sales margins and competitiveness in the country.
(Source: http://miningweekly.com/article/prophecy-hopes-to-ship-first-coal-through-reopened-border-
post-by-year-end-2014-09-23)
United Family Healthcare Extends its Operations to Mongolia
United Family Healthcare (UFH) today announced the opening of United Family Intermed Hospital in
Ulaanbaatar, Mongolia. United Family Intermed Hospital is a joint cooperation between UFH and
International Medical Center (IMC), a leading medical services provider in Mongolia. UFH will work
with IMC to manage the hospital, recruit key clinical and administrative leadership, ensure
international quality and safety standards, and provide a premium healthcare experience for patients
in Ulaanbaatar and across Mongolia. The announcement was made during a grand opening
ceremony in Ulaanbaatar attended by the Prime Minister of Mongolia, Mr. Norovyn Altankhuyag, as
well as business leaders, international insurance providers, and US and Mongolian government
dignitaries. United Family Intermed Hospital is a brand new facility with 90 beds providing a
comprehensive range of medical services including obstetrics and gynecology (OBGYN), pediatrics,
surgery, internal medicine, family medicine, dentistry, and specialty care such as gastroenterology,
endocrinology, urology, cardiovascular, ophthalmology, ear nose and throat (ENT), neurology,
dermatology, pulmonary, and nephrology. The hospital also has an emergency department, a state-of-
the-art intensive care unit (ICU), and advanced medical technology for diagnosis and treatment. With
a mix of international and local physicians, United Family Intermed Hospital focuses on patient-
centered care and evidence-based medicine. Bolormaa Tumendemberel, Director of Intermed
Hospital commented, "United Family Intermed Hospital marks a turning point for transforming
Mongolia's healthcare industry. We're proud to be working with United Family Healthcare to bring
quality care to Mongolians in Ulaanbaatar and beyond."
(Source: http://en.prnasia.com/story/105379-0.shtml)
GLOBAL NEWS
Asian Stocks Extend Losses Amid Yen Advance; Kiwi Rallies
Asian stocks fell, with the regional index headed for its lowest close in more than three months, as the
yen rallied following a Japanese holiday and after a selloff in U.S. equities. New Zealands dollar rose
from a one-year low amid a smaller-than-estimated trade deficit. The MSCI Asia Pacific Index lost 0.2
percent by 9:57 a.m. in Tokyo, dropping a third day as Japans Topix index retreated 0.3 percent from
its Sept. 22 close. Standard & Poors 500 Index futures added 0.1 percent following a 0.6 percent
drop in the U.S. gauge. The yen gained 0.2 percent to 108.68 a dollar, while the kiwi strengthened 0.2
percent after slipping as much as 1 percent last session. Rubber futures dropped 0.7 percent. Gold
lost 0.2 percent to $1,221.59 an ounce after climbing yesterday. Mixed global manufacturing data
yesterday coupled with U.S. plans to limit tax-driven company deals fueled stock losses, as the U.S.
led airstrikes against Islamic State positions in Syria. Germanys Ifo survey of business confidence is
due today, after Markit Economics euro-area factory gauge fell more than economists anticipated. A
similar index for Japanese manufacturing is scheduled for today, along with U.S. homes data.
Australia cut its iron ore price forecasts for this year.
2014-09-24
24 September 2014
Daily Report
Performance
Last Country Index
Indicator
Performance
Last
USD
Commodity
NEWS & ANALYSIS
-2.48
2.89
7.95
11.04
-1.08
0.61
2.28
0.45
-0.57
YTD %
-0.23
-0.68
-0.42
-0.02
-1.44
-0.57
-0.49
-1.58
-0.05
MSE - Top20
DJIA
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
DAX
Nikkei 225
Change % (Day)
5,258
5,240
3,264
1,885
1,313
930
0 2,000 4,000 6,000
UBH
TTL
ETR
ADL
MCH
MIE
6.00%
-0.19%
-2.11%
-5% 0% 5% 10%
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 | 2014.09.24

24 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 3.620 -2.95 9.70 17,274.0 7,284.52 4.36 3.01 1.00
Centerra Gold CG CN Equity CAD 5.290 2.12 22.45 4,780.4 1,129.06 6.90 2.82 1.11
MMC 975 HK Equity HKD 0.970 0.00 -5.83 4,929.1 463.63 1.55 0.48 7.75
Denison Mines Corp DML CN Equity CAD 1.290 -2.27 0.00 1,211.9 588.68 1.95 1.01 1.11
Winsway Coking Coal Holdings Ltd 1733 HK Equity HKD 0.400 0.00 -18.37 293.7 194.71 0.69 0.31 7.75
MoEnCo 276 HK Equity HKD 0.194 0.00 -20.16 1,268.8 169.10 0.29 0.15 7.75
SouthGobi Resources 1878 HK Equity HKD 4.690 0.00 -31.83 36.2 113.33 9.90 4.38 7.75
Central Asia Metals PLC CAML LN Equity GBp 169.000 1.20 19.86 90,726.9 305.77 190.00 125.00 0.61
Mongolia Investment Group Ltd 402 HK Equity HKD 0.212 0.00 -26.90 1,033.6 183.12 0.43 0.16 7.75
Mongolia Growth Group YAK CN Equity CAD 2.070 -0.96 -8.81 84.3 64.94 3.07 1.71 1.11
North Asia Resources Holdings Ltd 61 HK Equity HKD 0.163 0.00 -10.44 66.6 73.60 0.21 0.10 7.75
Guildford Coal Ltd GUF AU Equity AUD 0.054 1.89 -34.83 5.7 40.38 0.14 0.05 1.13
Origo Partners PLC OPP LN Equity GBp 7.875 0.00 6.78 7.1 46.04 9.50 6.63 0.61
Entree Gold Inc ETG CN Equity CAD 0.310 8.77 0.00 58.3 41.14 0.53 0.27 1.11
Aspire Mining Ltd AKM AU Equity AUD 0.051 -3.77 -8.93 #VALUE! 31.69 0.08 0.03 1.13
Prophecy Coal Corp PCY CN Equity CAD 0.055 -8.33 -31.25 0.3 12.51 0.13 0.04 1.11
FeOre Ltd FEO AU Equity AUD 0.055 0.00 34.15 3.9 25.75 0.08 0.03 1.13
Petro Matad Ltd MATD LN Equity GBp 2.875 0.00 -23.33 0.0 13.16 11.50 2.63 0.61
Xanadu Mines Ltd XAM AU Equity AUD 0.130 0.00 160.00 0.0 27.78 0.18 0.03 1.13
Haranga Resources Ltd HAR AU Equity AUD 0.030 0.00 -51.61 0.9 6.42 0.09 0.03 1.13
Wolf Petroleum Ltd WOF AU Equity AUD 0.051 0.00 -27.14 3.3 11.82 0.09 0.03 1.13
Manas Petroleum Corp MNAP US Equity USD 0.113 -10.07 64.23 81.0 19.42 0.17 0.04 1.00
Khan Resources Inc KRI CN Equity CAD 0.380 0.00 33.33 35.3 23.37 0.45 0.16 1.11
Voyager Resources Ltd VOR AU Equity AUD 0.002 0.00 -50.00 0.6 2.74 0.01 0.00 1.13
East Asia Minerals Corp EAS CN Equity CAD 0.030 -14.29 -25.00 2.1 2.93 0.11 0.03 1.13
Erdene Resource Development Corp ERD CN Equity CAD 0.125 -10.71 -10.71 0.2 8.46 0.26 0.07 1.11
Modun Resources Ltd MOU AU Equity AUD 0.004 0.00 0.00 0.4 5.74 0.01 0.00 1.13
Kincora Copper Ltd KCC CN Equity CAD 0.045 12.50 80.00 0.7 12.40 0.09 0.02 1.11
General Mining Corp Ltd GMM AU Equity AUD #N/A N/A #N/A N/A #N/A N/A #VALUE! #VALUE! 0.03 0.01 1.13
Draig Resources Ltd DRG AU Equity AUD 0.017 0.00 -51.43 0.0 1.00 0.04 0.01 1.13
Newera Resouces Ltd NRU AU Equity AUD 0.002 0.00 -66.67 42.7 2.09 0.01 0.00 1.13
Blina Minerals NL BDI AU Equity AUD 0.001 0.00 0.00 1.2 1.31 0.00 0.00 1.13
Source: Bloomberg
MONGOLIAN STOCK MARKET
23 September 2014 18 JSC's 65,050 shares worth 39.69 mln MNT have been
traded.
TOP20 index was 15,897.77 -0.23% YTD -2.48%
Company name Trade volume
Trade
value '000
Last Chg day Chg day %
Buy
volume
Buy price Sell price Sell volume
APU 3,539 13094 3700 0 0.00% 15 3659 3800 1890
HBO 14,631 5852 400 -5 -1.23% 200 391 409 10
UBH 310 5258 16960 960 6.00% 2 13800 17000 108
TTL 1,000 5240 5240 -10 -0.19% 50 5160 5240 100
ETR 35,475 3264 92 -2 -2.11% 300 88 94 3434
ADL 1,019 1,885 1850 -40 -2.12% 300 1800 1890 96
MCH 1,050 1313 1250 -50 -3.85% 0 0 1499 10
MIE 58 930 16030 -520 -3.14% 50 16500 18510 3
NKT 2,600 832 320 -29 -8.34% 2000 250 349 20
NEH 28 532 19000 -500 -2.56% 67 18500 19800 100
JTB 4,961 402 81 0 -0.41% 5000 78 82 3635
SHG 42 300 7150 -25 -0.35% 4 7110 7200 143
TAV 10 284 28400 640 2.31% 25 21000 30500 2
MVO 88 267 3035 0 0.00% 3 2640 3200 57
UYN 149 186 1250 0 0.00% 100 1100 1299 10
MDR 50 30 600 0 0.00% 1000 510 600 1550
NXE 15 24 1600 0 0.00% 10 1360 2100 350
HGN 25 3 110 -7 -5.98% 0 0 110 4975
30 day graphic
Change day
ROA Volume Chg month Market Cap mln LCY Last in
USD
0.04 4,771,813.0 5.2
7,284.52 3.62
4.68 1,000,892.0 -17.7
1,250.55 4.78
-3.14 39,390,500.0 42.6
3,593.89 0.13
-29.07 1,040,580.0 -11.0
652.03 1.16
-20.83 5,691,000.0 -9.1
1,509.28 0.05
-12.67 50,695,213.0 -22.1
1,310.77 0.03
-38.84 59,900.0 1.3
878.53 0.61
27.26 327,583.0 1.2
186.58 276.96
-21.17 37,793,600.0 23.3
1,419.47 0.03
11.87 45,080.0 -13.8
71.93 1.87
-57.42 3,167,600.0 10.9
570.49 0.02
-0.20 120,000.0 12.5
45.64 0.05
-30.65 551.0 0.0
28.09 12.91
-8.47 208,210.0 5.1
45.57 0.28
-6.90 131,500.0 -7.3
35.82
-37.55 6,000.0 -31.3
13.85 0.05
-3.76 80,000.0 10.0
29.10 0.05
-36.53 0.0 0.0
8.03 4.71
-64.84 147,318.0 -18.8
31.40
#N/A N/A 34,500.0 -6.3
7.25 0.03
-35.91 73,500.0 2.0
13.35 0.05
-0.86 720,250.0 55.2
19.42 0.11
#N/A N/A 103,000.0 5.6
25.89 0.34
-6.43 333,333.0 100.0
3.10 0.00
#N/A N/A 80,200.0 -14.3
3.31 0.03
-22.57 1,500.0 -19.4
9.37 0.11
-29.40 100,000.0 100.0
6.49 0.00
-17.99 18,066.0 -30.8
13.74 0.04
-129.17 0.0 #N/A N/A
#VALUE! #VALUE!
-129.58 2,000.0 0.0
1.13 0.02
-93.62 24,138,710.0 0.0
2.36 0.00
2.58 1,338,692.0 0.0
1.49 0.00
20697745
454104
21,151,849
1 0.060 0.06% #N/A
2 (0.002) 0.00% #N/A
3 (0.021) -0.02%
4 (0.021) -0.02% #N/A
5 (0.031) -0.03% #N/A
3
0
2013.06 2702.1
2013.06 7591
13606.65
1850
24 September 2014
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
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Contact

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