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00975 MONGOL MINING
RTNominal down8.450 -0.020 (-0.236%)
Others

18/05/2011 14:00

[I-bank focus] MMC's (0975) trial run shows strong execution

Citigroup cited Mongolian Mining (00975) stating that
its first washing plant (CHPP) near its UHG mine site has started trial run.
The research house noted that the start of the washing plant is largely in line with the
company's original plan, showing strong execution capability.
In addition, it would enable the company to produce and sell washed coal, reducing
logistic costs. With washed coal products, the company will also be able to gradually
expand its customer base, including end-users.
Citi maintained its "buy" call on the stock, with a target price of HK$10. (KL)

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