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00975 MONGOL MINING
RTNominal up8.280 +0.040 (+0.485%)
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13/03/2013 15:37

[I-bank focus]UOBKH upgrades Mongo Mining (00975) to "buy"

[ET Net News Agency, 13 March 2013] UOB Kay Hian upgraded Mongolian Mining Corporation
(MMC)(00975) to "buy" from "hold", and maintained its target price of HK$4.
Due to a price decline, inventory impairment loss and increase in finance cost, MMC
booked a net loss of US$2.5m, below market consensus. However, in view of the ongoing
price recovery, continued production expansion and increased sales in value-added coal
products (high-margin hard coking coal), the research house expects to see a turnaround in
2013. (KL)

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