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00975 MONGOL MINING
RTNominal down10.040 -0.320 (-3.089%)
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25/06/2014 15:27

[I-bank focus]Jefferies cuts Mongol Mining (0975) to HK$0.65

[ET Net News Agency, 25 June 2014] Jefferies lowered its target price for Mongolian
Mining (MMC)(00975) to HK$0.65 from HK$0.8, and maintained its "hold" call.
The research house expects MMC to report a loss for 1H (will be announced early August)
due to the weak coking coal demand suppressing prices. Steel production is up
year-to-date, but coking coal imports into China are down 19%, implying destocking
activities in the value chain.
Jefferies believes high finance cost will be a big hurdle for the company to become
profit making again. (KL)

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