WORLD INDICES

Change %
(Day)
YTD change %
MSE - Top20 MN 15,745.15 -0.33 -3.41
DJIA US 16,804.71 -1.40 1.38
S&P 500 US 1,946.16 -1.32 5.29
Nasdaq US 4,422.09 -1.59 5.88
S&P/TSX comp CN 14,805.44 -1.04 8.69
FTSE 100 UK 6,557.52 -0.98 -2.84
S&P/ASX 200 US 5,305.20 -0.54 -0.88
Hang Seng HK 22,932.98 -1.28 -1.60
Bloomberg/asia.pac ASIA 172.25 -0.36 2.44
COMMODITY PRICES
Change %
(Day)
YTD change %
Prime Coking Coal /Tianjin 140.08 0.00 -26.50
Zinc Spot /LME 2,261.50 -0.89 10.16
Iron Ore 58% /Tianjin #N/A Invalid Security #N/A Invalid Security #N/A Invalid Security
Copper Spot /LME 6,729.75 0.15 -8.76
Oil 90.73 -0.47 -7.81
Gold Spot /LME 1,215.93 0.17 1.19
Silver Spot /LME 17.26 0.47 -11.36
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 97.51 6.867 3/21/2017
MMC bond - 8.875 600 64.00 30.642 3/29/2017
Mongol 2018 - 4.125 500 95.14 5.555 1/5/2018
Mongol 2022 - 5.125 1,000 89.63 6.684 12/5/2022
TDBM 2015 - 8.5 300 99.90 8.603 9/20/2015
TDBM 2015 - 12.5 25 99.38 12.839 11/17/2015
TDBM 2017 - 10 dim sum 115 97.72 11.031 1/21/2017
DBM bond - 1.52 sam. 290 103.19 1.146 12/25/2023
INDICES CHANGE
MSE TOP 5 MOST TRADED
Trade value '000
MONGOLIAN RELATED NEWS
Workshop for improving regulatory approaches to mine closure and rehabilitation in Mongolia
In September 2014, IM4DC co-hosted a workshop in Ulaanbaatar, Mongolia focused on Improving
regulatory approaches to mine closure and rehabilitation with the General Agency for Specialised
Inspection (GASI) and BGR (German Mineral Resources Agency). The workshop was aimed at
supporting the Mongolian government in its efforts to establish national unified mine rehabilitation and
closure regulations through collective approaches with industry, academic and non-governmental
professional organisations. Day one of the workshop consisted of presenters from government,
industry and academia provided insights of their current role and involvement in formulating
regulations and its implementation in mine rehabilitation and closure in Mongolia, Australia and
worldwide. During day two, groups of participants discussed a mine closure and mined land
rehabilitation regulation and rehabilitation guideline. Group leaders presented the summary of reviews
by the team, initiated discussions and received feedback from the expert panel. The collective
feedback by the participants will be summarised in a written document to provide feedback on
creating national mine rehabilitation and closure regulations in Mongolia.
http://im4dc.org/workshop-for-improving-regulatory-approaches-to-mine-closure-and-rehabilitation-in-
mongolia/
Mongolia Has To Change Its Railroads To Account For An 85 Millimeter Difference In Track
Spacing
The planned extension of a trans-border railway in Mongolia will make it faster and cheaper to ship
coal to China. Currently, most coal from Mongolian mines is transported to the Chinese border by
trucks on paved roads. The railroad would be a less costly shipping method, but until now, a tiny
difference in the spacing of rails has made this a less viable option. Mongolia and China use two
different rail gauges. Mongolia's 1,520 millimeter broad gauge dates back the Soviet-era. China uses
the slightly smaller 1,435 millimeter standard gauge, 85 millimeters narrower than the rail gauge used
in Mongolia. Mongolia has long resisted moving to the standard smaller gauge which would
remove the time-intensive process of changing wheels partly as an effort to keep its "powerful
neighbor at arm's length amid fears about China's political and economic hegemony in the region,"
Reuters noted. Last year, for example, Mongolian officials said a new railroad tracks stretching from
the country's biggest coal field, Tavan Tolgoi, to the Chinese border would be built using Russia's
wider broad gauge instead of China's standard gauge, even though using the broad gauge would
increase transport costs. Using the broad gauge rail will cost $3 more per ton of coal than the
standard gauge, but "the overall cost of exporting coal by rail will [still] be 60 percent, or $14 per ton,
lower than the current method of exporting by truck," Bloomberg writes. In April, it was announced
that a separate railway linking Mongolia to China would be built using China's smaller rail gauge,
according to Reuters. This minor detail represents a huge technical barrier between the two
countries, since each train crossing the border is forced to make long stops to change the wheels. But
while Mongolia's growing army of mining companies consider it a logistics bottleneck, Mongolians
themselves see it as a matter of national sovereignty a necessary shield protecting their sparsely
populated homeland and its vast mineral resources from the ever-present Chinese threat. Explained
Business News Europe. Meanwhile, the Mongolian Ministry of Roads and Transportation and JSC
Russian Railways agreed in September to extend the main trans-Mongolian railway to increase trade
between Russia and China.
http://www.businessinsider.com/mongolia-extends-trans-border-railway-to-china-russia-2014-
10#ixzz3EwvF8MXJ
GLOBAL NEWS
Asia Stocks Heading for Five-Day Decline on Fed Concern
Asian stocks fell, with the benchmark index heading for a fifth day of losses, amid concern over the
end of the Federal Reserves stimulatory bond-buying program and signs of weakness in the euro-
area economy. The MSCI Asia Pacific Index (MXAP) slid 0.1 percent to 139.64 as of 9:02 a.m. in
Tokyo after retreating to a four-month low yesterday. The measure capped its biggest monthly drop in
more than two years in September amid concern Chinese growth is slowing and that the Federal
Reserve may increase U.S. interest rates sooner as it ends asset purchases. U.S. stocks tumbled
yesterday, sending the Russell 2000 Index into a correction. Japans Topix index dropped 1.3
percent, the biggest decline in almost two months. South Koreas Kospi index lost 0.5 percent.
Australias S&P/ASX 200 Index fell 0.4 percent, while New Zealands NZX 50 Index slid 0.3 percent.
Markets in Hong Kong remain closed today, while those in mainland China are shut through Oct. 7.
Futures on the Standard & Poors 500 Index were little changed. The measure lost 1.3 percent
yesterday to its lowest close since Aug. 12. The Russell 2000 lost 1.5 percent, extending losses to
more than 10 percent from a record reach in March, meeting the definition of a correction. More than
$200 billion in assets was erased from U.S. equity markets during the past three months, as stronger
2014-10-02
2 October 2014
Daily Report
Performance
Last Country Index
Indicator
Performance
Last
USD
Commodity
NEWS & ANALYSIS
-3.41
1.38
5.88
8.69
-2.84
-0.88
-1.60
-1.78
-2.71
YTD %
-0.33
-1.40
-1.59
-1.04
-0.98
-0.54
-1.28
-0.97
-1.45
MSE - Top20
DJIA
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
DAX
Nikkei 225
Change % (Day)
90
1,195
1,620
90
1,517
104
0 1,000 2,000
BAN
EER
GOV
HBO
HGN
JTB
-8.60%
3.91%
1.25%
-10% -5% 0% 5%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
0
2,000
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10,000
12,000
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16,000
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Volume MSETOP Index
Daily Report | 2014.10.02

2 October 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 3.690 -1.34 11.82 8,413.5 7,425.38 4.36 3.01 1.00
Centerra Gold CG CN Equity CAD 5.170 2.99 19.68 5,647.3 1,097.60 6.90 2.82 1.11
MMC 975 HK Equity HKD 0.870 3.57 -15.53 459.5 415.13 1.43 0.48 7.76
Denison Mines Corp DML CN Equity CAD 1.220 -4.69 -5.43 1,906.9 553.79 1.95 1.01 1.11
Winsway Coking Coal Holdings Ltd 1733 HK Equity HKD 0.380 4.11 -22.45 76.3 184.66 0.69 0.31 7.76
MoEnCo 276 HK Equity HKD 0.169 -1.74 -30.45 176.0 147.06 0.29 0.15 7.76
SouthGobi Resources 1878 HK Equity HKD 4.460 -1.98 -35.17 75.1 107.59 9.90 4.38 7.76
Central Asia Metals PLC CAML LN Equity GBp 168.000 -1.61 19.15 5,094.4 300.36 190.00 134.75 0.62
Mongolia Investment Group Ltd 402 HK Equity HKD 0.260 7.44 -10.34 9,168.4 224.20 0.41 0.16 7.76
Mongolia Growth Group YAK CN Equity CAD 1.940 -0.51 -14.54 79.6 60.63 3.07 1.71 1.11
North Asia Resources Holdings Ltd 61 HK Equity HKD 0.159 2.58 -12.64 81.4 82.94 0.21 0.10 7.76
Guildford Coal Ltd GUF AU Equity AUD 0.044 0.00 -46.90 1.8 32.64 0.14 0.04 1.14
Origo Partners PLC OPP LN Equity GBp 7.750 -1.59 5.08 4,311.4 44.77 9.50 6.63 0.62
Entree Gold Inc ETG CN Equity CAD 0.280 -5.08 -9.68 0.1 36.96 0.53 0.27 1.11
Aspire Mining Ltd AKM AU Equity AUD 0.050 0.00 -10.71 #VALUE! 30.82 0.08 0.03 1.14
Prophecy Coal Corp PCY CN Equity CAD 0.055 0.00 -31.25 5.1 12.44 0.13 0.04 1.11
FeOre Ltd FEO AU Equity AUD 0.055 0.00 34.15 0.4 25.54 0.08 0.03 1.14
Petro Matad Ltd MATD LN Equity GBp 2.875 0.00 -23.33 50.3 13.01 11.50 2.63 0.62
Xanadu Mines Ltd XAM AU Equity AUD 0.120 9.09 140.00 0.0 25.44 0.18 0.03 1.14
Haranga Resources Ltd HAR AU Equity AUD 0.027 0.00 -56.45 2.7 5.73 0.09 0.03 1.14
Wolf Petroleum Ltd WOF AU Equity AUD 0.048 0.00 -31.43 3.8 11.03 0.09 0.03 1.14
Manas Petroleum Corp MNAP US Equity USD 0.135 0.82 97.08 48.8 23.30 0.17 0.04 1.00
Khan Resources Inc KRI CN Equity CAD 0.380 -5.00 33.33 11.1 23.25 0.45 0.17 1.11
Voyager Resources Ltd VOR AU Equity AUD 0.002 0.00 -50.00 18.6 2.72 0.01 0.00 1.14
East Asia Minerals Corp EAS CN Equity CAD 0.030 0.00 -25.00 0.1 2.90 0.11 0.03 1.14
Erdene Resource Development Corp ERD CN Equity CAD 0.145 0.00 3.57 1.2 9.76 0.26 0.07 1.11
Modun Resources Ltd MOU AU Equity AUD 0.003 0.00 -25.00 1.6 4.27 0.01 0.00 1.14
Kincora Copper Ltd KCC CN Equity CAD 0.040 0.00 60.00 3.8 11.13 0.09 0.02 1.11
General Mining Corp Ltd GMM AU Equity AUD 0.007 0.00 -58.82 0.1 0.83 0.03 0.01 1.14
Draig Resources Ltd DRG AU Equity AUD 0.013 0.00 -62.86 0.0 0.76 0.04 0.01 1.14
Newera Resouces Ltd NRU AU Equity AUD 0.002 0.00 -66.67 1.8 2.07 0.01 0.00 1.14
Blina Minerals NL BDI AU Equity AUD 0.001 0.00 0.00 2.3 1.30 0.00 0.00 1.14
Source: Bloomberg
MONGOLIAN STOCK MARKET
1 October 2014 25 JSC's 41,115 shares worth 31.52 mln MNT have been
traded.
TOP20 index was 15,745.15 -0.33% YTD -3.41%
Company name Trade volume
Trade
value '000
Last Chg day Chg day %
Buy
volume
Buy price Sell price Sell volume
ADL 4 8 1889 99 5.53% 50 1790 1889 6
APU 3,103 11509 3709 10 0.27% 1907 3700 3800 880
BAN 28 90 3200 -301 -8.60% 20 3210 3500 200
EER 500 1195 2390 90 3.91% 67 2300 2399 10
GOV 200 1620 8100 100 1.25% 300 8100 8200 259
HBO 225 90 400 0 0.00% 0 0 400 720
HGN 13,682 1517 110.88 -3 -2.74% 206 110 114 3935
JTB 1,270 104 82 0 0.00% 3543 80 82 2135
MCH 23 29 1270 20 1.60% 977 1270 1400 300
MDR 1,015 559 550.3 -9 -1.56% 0 0 565 50
MIB 300 72 240 -10 -4.00% 1000 230 250 8659
MSH 10,000 6100 610 -90 -12.86% 500 600 650 3985
NEH 20 370 18500 0 0.00% 104 18500 19500 50
OLL 5,100 612 120 0 0.00% 0 0 120 10650
RMC 190 27 140 0 0.00% 4900 130 140 1900
SHG 50 350 7000 -150 -2.10% 180 7000 7150 200
TAV 2 48 24140 0 0.00% 25 22300 29980 5
TCK 92 1840 20000 0 0.00% 108 20000 20900 12
DHU 300 1500 5000 -140 -2.72% 150 4370 5900 5
ETR 4,225 423 100 6 6.38% 15000 90 100 2900
HMK 1 2 2100 0 0.00% 0 0 0 0
HSR 500 2050 4100 100 2.50% 0 0 4100 206
JGV 86 310 3600 0 0.00% 0 0 4400 6
MIE 32 560 17500 990 6.00% 50 16550 18510 5
MMX 167 558 3344 49 1.49% 107 3255 3780 10
30 day graphic
Change day
3
0
2013.06 2702.1
2013.06 7591
13606.65
1889
2 October 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
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

Sukhbaatar Square, Ulaanbaatar 210620A, Mongolia
Fax: +976-70117676 /1402/
E-mail: ibd@golomtbank.com
Website: www.golomtbank.com