[ET Net News Agency, 3 September 2013] Credit Suisse cut its target price for Mongolian
Mining Corporation (MMC)(00975) to HK$1.2 from HK$1.3, and maintained its "underperform"
rating.
The research house said MMC's cash balance was US$129mn at end of 1H. While major debt
principal is due after 2015, cash may still dry down to US$50mn in 2H for debt and
interest repayment. MMC needs to stretch its cash position by extending certain debt and
collecting government reimbursement on railway/paved road.
Credit Suisse revised its estimates for 2013 to net loss of US$39mn and for 2014 to net
profit of US$4mn (from net profit of US$9mn in 2013 and US$50mn in 2014) to reflect lower
assumptions for coal prices and sales volumes. (KL)
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00975 MONGOL MINING
Nominal 
7.450 +0.460 (+6.581%) Others
03/09/2013 15:23
[I-bank focus]Credit Suisse cuts Mongo Mining to HK$1.2
| Remark: | Real time quote last updated: 19/09/2024 17:16 |
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