The funds will be used to expedite development of Aspire’s 90% owned Nuurstei Coking Coal Project in Mongolia.

Aspire aims to take the project into production within 18 months.

The company is now planning to undertake a drilling and exploration program at the Nuurstei project.

Rights issue details

Eligible shareholders had the opportunity to subscribe for six new shares for every five shares held at an issue price of $0.012 each.

The rights issue was fully underwritten by Patersons Securities Limited and sub-underwritten by the company’s major shareholder Noble Group (SGX:CGP).

Noble subscribed for the full amount of its entitlement (circa $2.97 million) and took up a further amount of $0.59 million on a priority sub-underwriting basis.

This takes Noble’s voting power in the company to 19.9% on an undiluted basis.

Drilling and exploration program commencing

Aspire has planned a $2 million drilling and exploration program at the Nuurstei Coking Coal Project.

The program aims to increase current resources and establish an ore reserve, which will then lead to a new resource model planned to be completed in the first quarter of 2018.

Capital costs for the development of Nuurstei have been further refined, with the current estimate of US$13 to US$14 million to be confirmed in the feasibility study process.

The end objective of these studies is to confirm an economically viable mining operation commencing within an estimated 18 month period.

David Paull, managing director, said: “Further to our announcement on Tuesday 5 December, we are pleased to have successfully raised the full amount of $16.5 million from the fully underwritten rights issue.

“The underwriting was supported by a strong panel of institutional sub-underwriters seeking to position themselves as shareholders and we welcome them in that capacity.

“Our focus is now squarely on confirming the feasibility and commencing the development of the Nuurstei Coking Coal Project.”

Debt reduction on track

Aspire intends to pay $0.19 million of the funds raised under the rights issue to Noble which, when combined with Noble’s participation in the rights issue, will result in a total reduction of $3.75 million in the amount owing to Noble.

This completes the first of a further series of transactions designed to reduce the existing US$6.65 million debt owing under the Noble Facility to US$1.8 million.

The MSE ALL Index decreased by 0.19 percent to stand at 1,222.67 points. The MSE market cap stands at MNT2,578,580,001,601

With an aim to increase number of passengers and flow of freight transport from Altanbulag checkpoint to Kyakhta, ‘Ulaanbaatar Railway’ Joint Venture decided to open this express train. The express trains N305 and N306 will travel in this route three times a week or on Mondays, Tuesdays and Saturdays. Previously it used to take about 40 hours to travel to Irkutsk whereas the express will reach its destination within 24 hour stoping at three stations: Sukhbaatar, Naushki and Ulan-Ude. 

"Beginning from November, 2014 citizens of Mongolia and Russia are allowed to mutually travel without visa for three months. Thus Altanbulag border checkpoint’s load has been increased considerably. In order to create condition for convenient, comfortable and cheap travel to passengers the company launched this express train. I believe it will give stimulus to tourism development of Mongolia" remarked D.Jigjidnyamaa, Chairman of the ‘Ulaanbaatar Railway’ Joint Venture.

Third Secretary of Embassy of the Russian Federation in Mongolia M.B.Mashaninov said "As a result of visa free travel for three months, people to people relations and economic cooperation of the two countries are broadening. I am confident that the express train will intensify the relations more". 

The express train with six passenger coaches is expected to carry 21.5 thousand passengers a year. Also it is possible to add coaches up to 18 during special times, said the officials.

Single ticket price is MNT118 thousand for adults and MNT 71 thousand for children.

The memorandum was signed by Ambassador of Mongolia to Italy Ts.Jambaldorj and Paolo Emilio Signorini, President of the Port Authority of Genoa and Savona.

Following the signing ceremony, the sides exchanged views on bilateral cooperation in maritime transport, access to seaport, usage of ships and customs and logistics.

This increase in demand is both a gift and a curse for nomadic herders, who make up about 50% of the population. Cashmere goats are by far the most lucrative of livestock, but keeping up with booming demand is proving unsustainable. Herders have at least doubled—if not tripled—the size of their flocks over the past decade, says William Danforth, author of the MICC report.

The Mongolian government is ill-equipped to handle the classic tragedy-of-the-commons problem, so private international actors are stepping in. Paris-based Kering Group, which owns brands like Gucci, Yves Saint Laurent, and Balenciaga, is partnering with nonprofits to develop more sustainable models for cashmere production. The group’s focus is educating herders on pasture management and animal welfare, but there is much work to be done further down the supply chain.

Cashmere manufacturing is a complex ecosystem riddled with middlemen who sell the processed fabric for USD 150 per kilogram, while herders themselves get only USD 20 of that.

1. STOCK TRADING:

A total of 61 companies’ 8,509,580 shares worth MNT6,055,558,659 were traded.

2. GOVERNMENT SECURITIES TRADING:

No government securities were issued on the primary market during the week spanning December 4 to December 8, 2017.

On the secondary market trading of Government securities, 4,054 units of securities were traded for MNT416,672,720 through 8 trading sessions

3. CORPORATE BONDS TRADING:

As of December 8, 2017, total market capitalization of MSE is MNT2,633,535,201,424 . The MSE ALL index declined by 1.42% to stand at 1,230.94 units.

The MSE ALL Index decreased by 0.81 percent to stand at 1,220.93 points. The MSE market cap stands at MNT2,624,384,707,766.

JD will work with international logistics giants such as DHL, La poste, Yamato, SF Express, consumer products conglomerate Nestle, Danone, and environmental protection organizations to carry out the Green Stream Initiative.

Wang Zhenhui, CEO of JD Logistics, said: "The fund is just a start and the money will be used in the overhauling of the infrastructure of JD Logisitics, the improvement in packaging material, the innovation in finance supply chain services, and for research and application of big data in supply chain."

JD Logistics announced decision to invest 1 billion yuan ($151 million) to establish a green fund. [Photo provided to chinadaily.com.cn]
JD expects to reduce the number of boxes used throughout the supply chain by 10 billion by 2020.

It also expects that 80 percent of packaging materials will be recyclable, with over 50 percent of plastic packages replaced by biodegradable material and 100 percent of logistics packaging materials to be composed of recyclable or reusable materials, JD said in an ealier statement.

In June, it began operating its first fleet of clean energy delivery trucks in Beijing, Shanghai and Chengdu – becoming the first domestic logistics player to employ large-scale green delivery vehicles.

The presidents plan to discuss economy, energy, politics, as well as the possibility of resuming air travel between Russia and Egypt, suspended in November 2015 after a terrorist attack resulted in a crash of a Russian passenger jet over Sinai.

"I am pleased to note that our economic links are developing at a fairly high pace, and we really have a lot of good projects ahead,” Putin said.

"Since the 1950s and 60s, Russia has always supported Egypt and still supports our country: both metallurgical plants and the construction of the Aswan dam, and today we will sign a contract for the construction of a nuclear power plant," al-Sisi replied.

Through September, trade between Russia and Egypt increased 48 percent compared to the same period last year and exceeded $4 billion.

After meeting with the Egyptian president, Putin will head to Ankara to meet Turkish President Recep Tayyip Erdogan. Besides politics, they are expected to discuss the Akkuyu nuclear power plant and other matters, said Kremlin spokesman Dmitry Peskov.