WORLD INDICES

Change %
(Day)
YTD change %
MSE - Top20 MN 15,627.40 -0.15 -4.14
DJIA US 16,461.32 -0.92 -0.70
S&P 500 US 1,927.11 -0.73 4.26
Nasdaq US 4,382.85 -0.83 4.94
S&P/TSX comp CN 14,312.07 -1.62 5.07
FTSE 100 UK 6,399.73 0.43 -5.18
S&P/ASX 200 US 5,376.20 -0.18 0.45
Hang Seng HK 23,403.97 1.37 0.42
Bloomberg/asia.pac ASIA 170.57 -0.28 1.45
COMMODITY PRICES
Change %
(Day)
YTD change %
Prime Coking Coal /Tianjin 140.57 0.00 -26.50
Zinc Spot /LME 2,258.00 2.29 9.99
Iron Ore 58%/Tianjin
Copper Spot /LME 6,687.00 -0.44 -9.34
Oil 80.52 -2.39 -18.19
Gold Spot /LME 1,242.92 0.13 3.44
Silver Spot /LME 17.21 0.25 -11.63
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 6.899 3/21/2017
MMC bond - 8.875 600 63.00 31.941 3/29/2017
Mongol 2018 - 4.125 500 95.45 5.530 1/5/2018
Mongol 2022 - 5.125 1,000 89.61 6.718 12/5/2022
TDBM 2015 - 8.5 300 99.52 9.051 9/20/2015
TDBM 2015 - 12.5 25 97.25 15.127 11/17/2015
TDBM 2017 - 10 dim sum 115 97.48 10.978 1/21/2017
DBM bond - 1.52 sam. 290 103.46 1.113 12/25/2023
INDICES CHANGE
MSE TOP 5 MOST TRADED
Trade value '000
MONGOLIAN RELATED NEWS
HARVESTING FINISHED NATIONWIDE
Harvesting works finished nationwide on Tuesday, and it was attended by 1,250 servicemen and
some 800 students. By a preliminary result of the harvesting, the country has harvested 419.7
thousand tons of grain from 310.2 thousand hectares areas, of which 465 thousand tons of wheat;
161.0 thousand tons of potatoes from 13.3 thousand hectares; and 102.5 thousand tons of
vegetables from 8.3 thousand hectares. 42.3 thousand tons of grain has been reserved for the next
years planting. Moreover, 28.5 thousand tons of grain has been given to the fund for supporting land
farming, and some 250 thousand tons--to flour factories. For the time being, the wheat sale is
continuing.
http://news_en.montsame.mn/economics/item/8853-harvesting-finished-nationwide
Rio turns up heat on Mongolia over mine impasse
RIO Tinto has turned up the pressure on the Mongolian government to resolve the impasse over a
$US5.4 billion ($6.1bn) development of the underground resource at the Oyu Tolgoi copper/gold
mine, saying the ball was now in the governments hands. Speaking from London, Rios copper chief
executive Jean--Sebastien Jacques said negotiations had reached the point where it was for the
government to decide if they want to proceed. He acknowledged it was not an easy decision to
make for the developing country. And that is why we have been very patient, and we have been
negotiating for 18 months in good faith, he said. We fully understand the situation and now is the
time for them to decide what they want to do. The ball now is really with the government. The long
running stand-off on an investment agreement covering the underground (stage two) development
has held up work since August last year. The sticking point remains what both sides have described
as shareholder issues without elaborating. It is taken to mean that the government wants improved
terms to its 2009 agreement, or at least an offset for project cost overruns. I hope that commonsense
will prevail in the end. But it is not one of those processes that you can rush. We need to take some
time and we need to be patient, Mr Jacques said. We have been very clear that for us to restart
there are four conditions And that as soon as those conditions are met, then we would restart.
The interrelated financing package and shareholder issues are the conditions yet to be met.
http://www.mongoliaeconomy.com/rio-turns-heat-mongolia-mine-impasse/
Mongolia becomes the 61st country to join Google Street View
In the scope of the Smart Ulaanbaatar program approved in 2014, Ulaanbaatar has launched
Google Maps, Google Street View, Google Culture Institute, and Google Art projects in collaboration
with the worlds leading search engine and internetrelated services and product developer, Google,
to promote the city, strengthen its economic competitiveness, and develop tourism. Based on work
conducted by Google over a two-year period, Google Street View will officially be launched in
Mongolia during a ceremony at Chinggis Khaan Square on October 22, from 2 to 4 p.m. Google
Street View allows users take a virtual walk online through cities around the world, such as New
York, Paris, Hong Kong, and soon, Ulaanbaatar, and view scenes of documented streets, avenues,
squares, museums, restaurants, and buildings on Google Maps. Nearly 8 million kilometers of
panoramic scenes in 4,000 cities in 60 countries across the world have been captured by Google
Street View. Mongolia is the first country in the Central Asian region to be part of the Google Street
View project.
http://mad-intelligence.com/mongolia-becomes-the-61st-country-to-join-google-street-view/
GLOBAL NEWS
Asian Stocks Follow U.S. Retreat as Oil Drops; Kiwi Falls
Asian stocks dropped, with the regional index falling from a two-week high after U.S. equities halted
their rally. Oil maintained declines while New Zealands dollar weakened after inflation slowed more
than estimated. The MSCI Asia Pacific Index lost 0.4 percent by 9:34 a.m. in Tokyo, after climbing to
the highest close since Oct. 9 yesterday. Japans Topix index slipped 0.8 percent, while South Korean
stocks rose. Standard & Poors 500 Index futures were little changed after the gauge fell following its
best fourday rally since January 2013. Oil in New York slipped 0.1 percent after yesterdays 2.4
percent drop. New Zealands dollar slid to a oneweek low as the greenback held gains versus peers.
Gauges of manufacturing from China to Europe are due today as investors examine economic data
for clues as to the health of the global economy. Equities have been seesawing, with the U.S. on
track to end bond purchases this month amid signs of a slowdown elsewhere. The Asia-Pacific gauge
swung an average 0.9 percent a day this month, up from 0.5 percent in the first nine months of 2014.
U.S. oil inventories rose more estimated last week, stoking concern that supply is outpacing demand.
http://www.bloomberg.com/news/2014-10-22/australian-stocks-drop-after-u-s-halts-rally-kiwi-
sinks.html
2014-10-23
23 October 2014
Daily Report
Performance
Last Country Index
Indicator
Performance
Last
USD
Commodity
NEWS & ANALYSIS
-4.14
-0.70
4.94
5.07
-5.18
0.45
0.42
-6.41
-7.31
YTD %
-0.15
-0.92
-0.83
-1.62
0.43
-0.18
1.37
0.60
-0.63
MSE - Top20
DJIA
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
DAX
Nikkei 225
Change % (Day)
880
338
833
214
2,260
11,765
0 5,000 10,000 15,000
GOV
MSH
NEH
SHG
TCK
TTL
0.00%
8.33%
0.00%
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
J
a
n
u
a
r
y
-
1
3
F
e
b
r
u
a
r
y
-
1
3
M
a
r
c
h
-
1
3
A
p
r
i
l
-
1
3
M
a
y
-
1
3
J
u
n
e
-
1
3
J
u
l
y
-
1
3
A
u
g
u
s
t
-
1
3
S
e
p
t
e
m
b
e
r
-
1
3
O
c
t
o
b
e
r
-
1
3
N
o
v
e
m
b
e
r
-
1
3
D
e
c
e
m
b
e
r
-
1
3
J
a
n
u
a
r
y
-
1
4
F
e
b
r
u
a
r
y
-
1
4
M
a
r
c
h
-
1
4
A
p
r
i
l
-
1
4
M
a
y
-
1
4
J
u
n
e
-
1
4
T
h
o
u
s
a
n
d
s

Volume MSETOP Index
Daily Report | 2014.10.23

23 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 3.200 -2.74 -3.03 10,431.9 6,439.36 4.36 3.01 1.00
Centerra Gold CG CN Equity CAD 5.600 -2.27 29.63 3,752.2 1,176.22 6.90 2.82 1.13
MMC 975 HK Equity HKD 1.100 0.00 6.80 5,167.2 525.44 1.43 0.48 7.76
Denison Mines Corp DML CN Equity CAD 1.100 -2.65 -14.73 1,224.6 494.00 1.95 1.03 1.13
Winsway Coking Coal Holdings Ltd 1733 HK Equity HKD 0.360 0.00 -26.53 41.5 175.13 0.64 0.31 7.76
MoEnCo 276 HK Equity HKD 0.166 0.00 -31.69 66.3 144.60 0.29 0.15 7.76
SouthGobi Resources 1878 HK Equity HKD 4.100 0.00 -40.41 13.2 99.02 9.90 3.88 7.76
Central Asia Metals PLC CAML LN Equity GBp 158.000 -0.16 12.06 435,763.8 279.90 190.00 134.75 0.62
Mongolia Investment Group Ltd 402 HK Equity HKD 0.340 0.00 17.24 2,513.6 293.75 0.40 0.16 7.76
Mongolia Growth Group YAK CN Equity CAD 1.680 -1.18 -25.99 16.3 51.94 3.07 1.51 1.13
North Asia Resources Holdings Ltd 61 HK Equity HKD 0.157 0.00 -13.74 86.8 81.98 0.21 0.10 7.76
Guildford Coal Ltd GUF AU Equity AUD 0.043 0.00 -48.11 22.6 31.84 0.11 0.04 1.14
Origo Partners PLC OPP LN Equity GBp 7.375 0.00 0.00 0.0 42.21 9.50 6.63 0.62
Entree Gold Inc ETG CN Equity CAD 0.270 1.89 -12.90 1.5 35.26 0.53 0.25 1.13
Aspire Mining Ltd AKM AU Equity AUD 0.044 0.00 -21.43 #VALUE! 27.12 0.08 0.03 1.14
Prophecy Coal Corp PCY CN Equity CAD 0.055 0.00 -31.25 30.5 12.31 0.11 0.04 1.13
FeOre Ltd FEO AU Equity AUD 0.025 0.00 -39.02 0.6 11.59 0.08 0.03 1.14
Petro Matad Ltd MATD LN Equity GBp 2.250 -5.26 -40.00 0.0 10.09 11.50 2.00 0.62
Xanadu Mines Ltd XAM AU Equity AUD 0.100 0.00 100.00 0.0 21.16 0.18 0.03 1.14
Haranga Resources Ltd HAR AU Equity AUD 0.018 0.00 -70.97 0.3 3.81 0.09 0.01 1.14
Wolf Petroleum Ltd WOF AU Equity AUD 0.048 0.00 -31.43 14.5 11.10 0.09 0.03 1.14
Manas Petroleum Corp MNAP US Equity USD 0.097 7.78 41.61 9.6 16.74 0.17 0.04 1.00
Khan Resources Inc. KRI CN Equity CAD 0.390 0.00 36.84 38.6 23.61 0.45 0.17 1.13
Voyager Resources Ltd VOR AU Equity AUD 0.002 0.00 -50.00 2.6 3.06 0.01 0.00 1.14
East Asia Minerals Corp EAS CN Equity CAD 0.030 0.00 -25.00 2.2 2.90 0.11 0.03 1.14
Erdene Resource Development Corp ERD CN Equity CAD 0.120 -11.11 -14.29 2.4 7.99 0.26 0.07 1.13
Modun Resources Ltd MOU AU Equity AUD 0.003 0.00 -25.00 3.0 4.26 0.01 0.00 1.14
Kincora Copper Ltd KCC CN Equity CAD 0.045 0.00 80.00 0.5 12.39 0.09 0.02 1.13
General Mining Corp Ltd GMM AU Equity AUD 0.005 0.00 -70.59 0.0 0.59 0.02 0.01 1.14
Draig Resources Ltd DRG AU Equity AUD 0.015 0.00 -57.14 2.8 0.87 0.04 0.01 1.14
Newera Resouces Ltd NRU AU Equity AUD 0.002 0.00 -66.67 33.8 2.07 0.01 0.00 1.14
Blina Minerals NL BDI AU Equity AUD 0.002 0.00 100.00 45.3 2.60 0.00 0.00 1.14
Source: Bloomberg
MONGOLIAN STOCK MARKET
22 October 2014 9 JSC's 18,289 shares worth 20.38 mln MNT have been traded.
TOP20 index was 15,627.40 -0.15% YTD -4.14%
Company name Trade volume
Trade value
'000
Last Chg day Chg day %
Buy
volume
Buy price Sell price Sell volume
APU 75 278 3700 -23 -0.62% 836 3700 3800 1180
BNG 41 2,460 60000 0 0.00% 2 60000 69000 1
GOV 110 880 8000 0 0.00% 4 8000 8060 100
MSH 520 338 649.96 50 8.33% 700 535 0 0
NEH 45 833 18500 0 0.00% 8 18500 18900 50
SHG 32 214 6700 0 0.00% 50 6400 6700 268
TCK 113 2,260 20000 0 0.00% 3 19500 20000 10
TTL 2,353 11,765 5000 0 0.00% 10 5000 5040 100
ETR 15,000 1,350 90 -1 -1.10% 124 90 100 2000
30 day graphic
Change day
3
0
2013.06 2702.1
2013.06 7591
13606.65
3700
23 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
investment professionals.

Contact

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