L.Bolormaa,
Editor of the Mongolian Mining Journal, is in Hong Kong to attend tomorrow’s
Mongolia investment Summit – 2010. She sends this report.

The conference will explore the many exciting investment opportunities on
offer, as Mongolia takes advantage of its mineral-rich geology and location
next to China – the world’s fastest growing consumer of natural resources. It
has gained special attention from investors following the successful IPO of
Mongolia Mining, and business newspapers and news agencies have arranged
detailed coverage. 
T

he Hong Kong Stock Exchange (HKSE) has a round main hall, and dealers are identified
by their sleeveless red shirts and their number tags. The electronic board in
the center shows the most recent stock prices of all the companies listed at the
HKSE and so it is constantly being updated.  For example one could follow Mongolian
Mining’s shares fluctuate between an intraday high of HKD7.17 and low of
HKD7.02, with a turnover of HKD638.18 million from 90.43 million shares traded.
Among those keenly watching the fluctuation was Mineral Resources and Energy
Minister D.Zorigt.

The HKSE is the 7th largest of its kind in the world and the net worth of
mining and energy companies listed here is USD390 billion. Rivalries abound. Winsway
and Mongolia Mining offered their IPO in the same week. Winsway transports raw
coal from Mongolia and is watching the moves of MMC to build a coal washing
plant in Ukhaakhudag so that it can sell the processed product to China.
Winsway shares today traded for HKD3.25-HKD4.50.

HKSE
has a practice of keeping mementos of IPOs. A morin khuur will be on display,
as has been an elegant aluminum matrehska since the IPO by the Russian company
Rusal.  Lorenz Fauk, Marketing Director
of HKsE, feels the MMC IPO was a big step in convincing investors of the transparent
and good governance of Mongolian companies.