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00975 MONGOL MINING
RTNominal down10.060 -0.040 (-0.396%)
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16/11/2010 11:20

[I-bank focus] JPM rates MMC (00975) "overweight" and HK$11

JP Morgan initiated coverage of Mongolian Mining
Corporation (MMC, 00975) with an "overweight" rating and price target of HK$11.
It said MMC was profitable in its first year of operations in 2009 and is planning to
ramp production (ROM) from 1.8mt in 2009 to 15mt in 2013.
In addition, JPM added that MMC is constructing Mongolia's first coal handling and wash
plant, a paved road to the China border and intends to begin construction of a proposed
rail line to the border in 2011-2012 to lower operating expenses and expand margins. (KL)

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