Index of Mining Companies has increased

Apr 9 • Energy, Infrastructure, Mining • 642 Views • No Comments on Index of Mining Companies has increased

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On Thursday, 785.7 thousand shares of 21 JSCs were sold at MSE, totaling ₮3.6 billion trade. The most gainers were “Bayangol Hotel” (11.6%), Sharyn Gol Coal Company (15%), Takhi-Co (10.7%), Shivee Ovoo coal mine (6.4%), Aduunchuluun (14.9%) and in reverse, the most decliners were MakhImpex (13%), APU (7.7%), Mongol Shevro (13%).

Most gainers were mostly mining stocks, which indicates that investors are bullying for mining projects. Also 726150 shares of Sharyn Gol were sold, a rare occasion in the Mongolian capital market. Sources say that it was related to the offer of “Firebird” Fund, which offers ₮3500 per share and gain 100% ownership of the company.

347 Joint Stock Companies are registered at MSE and as for today, only 101 of them held their annual shareholders’ meeting. If any joint stock company fails to announce and hold its shareholders meeting due to the legal time, its Board will become no longer powerful. Therefore, its controlling and monitoring council will replace.

TOP 20 Index, which was gaining eagerly from the beginning of 2010, lost 105 points and declined down to 10093.

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