Key Developments: Mongolian Mining Corp (0975.HK)
1.74HKD
12:30am EDT
HK$-0.01 (-0.57%)
HK$1.75
HK$1.75
HK$1.77
HK$1.74
273,500
3,026,305
HK$5.55
HK$1.68
Latest Key Developments (Source: Significant Developments)
Mongolian Mining Corp Does Not Recommend Final Dividend
Mongolian Mining Corp announced that the Board does not recommend the payment of dividend for the year ended December 31, 2012 (dividend in 2011: nil). Full Article
Mongolian Mining Corp Comments On FY 2012 Profit Guidance
Mongolian Mining Corp announced that for fiscal 2012, it expects to record a consolidated loss for fiscal 2012 as compared to a consolidated profit recorded for fiscal 2011. The Board believes that the loss for fiscal 2012 is mainly attributable to: a decrease of prices for coking coal products supplied by the Group due to market conditions in its principal market, the People’s Republic of China, as demand from steel mills and coke plants was affected by global economic conditions; an increase in the Company's finance costs due to the issue of Guaranteed Senior Notes in March 2012; and an increase in the Company's costs related to accounting for inventory loss provisions. Full Article
Mongolian Mining Corp Does Not Recommend Dividend
Mongolian Mining Corp announced that the Board decided not to pay any dividend for the six months ended June 30, 2012 (dividend for the six months ended June 30, 2011: nil). Full Article
Mongolian Mining Corp Announces Issuance Of USD600,000,000 8.875% Guaranteed Senior Notes Due 2017
Mongolian Mining Corp announced that on March 22, 2012, the Company and the Subsidiary Guarantors, entered into the Purchase Agreement with ING Bank N.V., Singapore Branch, J.P. Morgan Securities Ltd., Merrill Lynch International, Standard Bank Plc and Standard Chartered Bank in connection with the Notes Issue by the Company in the aggregate principal amount of USD600 million. ING Bank N.V., Singapore Branch, J.P. Morgan Securities Ltd. and Merrill Lynch International are the Joint Bookrunners, together with Standard Bank Plc and Standard Chartered Bank, are the Joint Lead Managers, in respect of the offer and sale of the Notes. The Notes will bear interest from and including March 29, 2012, at a rate of 8.875% per annum, payable semi-annually in arrears on 29 March and 29 September of each year, beginning September 29, 2012. The Notes will mature on March 29, 2017. The proposed issue of the Notes is intended for (i) financing transportation infrastructure improvement and development projects, including, without limitation, for the Company’s UHGGS railway project; and (ii) for working capital and other general corporate purposes, including, without limitation, for exploration and debt refinancing. The Company may reallocate the use of proceeds in response to changing market conditions or circumstances and other factors, including, without limitation, the timing of its UHG-GS railway project. Full Article
Mongolian Mining Corp Does Not Recommend Final Dividend
Mongolian Mining Corp announced that in view of the major production and infrastructure development projects committed or being planned by the Company, the Board decided not to pay any dividend for the year ended December 31, 2011, despite the Company’s record earnings (dividend in 2010: nil). Full Article
Mongolian Mining Corp Announces Resignation And Appointment Of Chief Financial Officer
Mongolian Mining Corp announced that Mr. Gankhuyag Adilbish (Mr. Adilbish) has resigned from his position as Chief Financial Officer of the Company with effect from November 4, 2011 to resume his duties as managing director of MCS Holding LLC, a controlling shareholder of the Company (together with its subsidiaries the MCS Group) and a director of a number of subsidiaries within the MCS Group. The Board also announced the appointment of Ms .Enkhzaya Nyamdorj (Ms . Nyamdorj) as the new Chief Financial Officer of the Company with effect from November 4, 2011. Full Article
Mongolian Mining Corporation Does Not Recommend Interim Dividend
Mongolian Mining Corporation announced that the Board of the Company does not recommend declaration and payment of an interim dividend in respect of the six months ended June 30, 2011 (interim dividend for the six months ended June 30, 2010: nil). Full Article
Moody's reviews Mongolian Mining's B1 ratings for downgrade
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