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Mongolian Mining Corp Comments On FY 2012 Profit Guidance


Tuesday, 22 Jan 2013 09:00am EST 

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‚Äôs 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. 

Company Quote

0.35
0.02 +6.06%
24 Dec 2014