Stock price of Gobi JSC fell by 30% since the beginning of 2020

Stock price of Gobi JSC has fallen by 30% since the beginning of this year. The company informed that foreign and domestic sales of Gobi JSC have rapidly fallen due to the Covid-19 pandemic for the first half year of 2020. In particular, domestic sales totaled MNT 18.8 billion, which fell by 57% year over… Read more »

Makhimpex JSC sold products of MNT 14.5 billion in 2020H1

Makhimpex JSC has sold products of MNT 1.5 billion for the first half of 2020. The company operated with loss of MNT 293.3 million because meat export of the company has interrupted due to movement restrictions with regards to the Covid-19 pandemic. In order to increase the export, the company is planning to start online… Read more »

Brief news of the market

According to the resolution No.14 of Board of Directors of Suu JSC dated 28th October 2020, M.Mandkhai as CEO of the company was dismissed from her position and D.Erdenechimeg was appointed as Acting Executive Director of the company. Nogoon Khugjil Undesnii Negdel JSC announced regular meeting of shareholders. The meeting was scheduled to be held… Read more »

IPO proceeds report of Monos Foods

Monos Foods JSC issued IPO and raised MNT 8.58 billion from the public in 2018. The company has submitted its report on IPO proceeds by the end of the third quarter of this year. The company has spent MNT 8.02 billion from the proceeds during the period. In particular, they have spent MNT 2.4 billion… Read more »

Erdene Resource Development Corporation intersects high-grade gold in maiden drilling at Dark Horse prospect

Erdene Resource Development Corporation company listed on Toronto and Mongolian Stock Exchange announced exploration results for its Dark Horse gold prospect, as part of the first phase of its 18,000 meters Khundii Gold District drill program. The Company has received assay results for approximately 3,600 meters of the 10,000 meters drilled in the first phase…. Read more »

Mongolia removes from grey list of FATF

General meeting of FATF was held between 21-23rd October 2020. The issue whether to remove Mongolia from grey list or not was discussed at the meeting. They announced the final decision On 23rd October 2020. In particular, FATF issued a decision to remove Mongolia and Island from grey list of FATF. Mongolia was included in… Read more »

Erdene announces conversion of EBRD convertible loan

Erdene Resource Development Corp. announced that the European Bank for Reconstruction and Development has exercised its conversion option in respect of its USD5 million convertible loan with the Company. Following conversion of the Convertible Loan, the EBRD owns and controls 30,043,290 common shares representing approximately 11.2% of the issued and outstanding common shares of the… Read more »

There is a potential to expand gold resource in “Bayan Khundii” district

Erdene Resource Development Corporation listed on Toronto and Mongolian Stock Exchange announced the conclusion of and the initial results from the first phase of its 18,000 meter Khundii Gold District drill program. “We are encouraged by the early results from the first phase of the drill program, including high-grade gold intersections in multiple holes and… Read more »

Brief news of the market

Central Securities Depository informed that 68,000 individuals and corporates were opened their securities account through broker companies in September 2020. Hermes Center JSC has placed its semi-annual dividend for 2020 or MNT 6.27 per share to its shareholders’ account. Baganuur and Shivee Ovoo JSCs have purchased 20 technics of USD 18.3. Erdenes Mongol LLC as… Read more »

Ch.Khurelbaatar: Government successfully issued a bond of USD 600 million

Khurelbaatar Minister of Finance made a press statement on new treasury bond. The Minister said that presentation on new treasury bond of Mongolia, named “Nomad”, was successfully introduced. Mongolia’s government issued a bond with worth of USD 600 million and the maturity is 5.5 years. Its annual interest rate is at 5.125%. In other words,… Read more »

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