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00975 MONGOL MINING
RTNominal down10.040 -0.320 (-3.089%)
Others

12/06/2012 10:18

[I-bank focus] Citi cuts Mongolian Mining (00975) to HK$8

Citigroup lowered its target price for Mongolian
Mining (00975) to HK$8 from HK$9.25, and maintained its "buy" rating.
The research house trimmed its estimates on lower assumptions for pricing and other
variables. But at 6.4x 2013 earnings, it believes the shares look reasonably priced for
longer-term investors.
Citi continues to see asset value which could be further enhanced with the recently
approved rail link to China. (KL)

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