WORLD INDICES

Change %
(Day)
YTD change %
MSE - Top20 MN 15,708.23 0.08 -3.64
DJIA US 16,544.10 -0.69 -0.20
S&P 500 US 1,906.13 -1.15 3.13
Nasdaq US 4,276.24 -2.33 2.39
S&P/TSX comp CN 14,227.36 -1.61 4.45
FTSE 100 UK 6,339.97 -1.43 -6.06
S&P/ASX 200 US 5,159.90 -0.55 -3.59
Hang Seng HK 23,088.54 -1.90 -0.93
Bloomberg/asia.pac ASIA 170.53 -0.03 1.42
COMMODITY PRICES
Change %
(Day)
YTD change %
Prime Coking Coal /Tianjin 140.27 0.00 -26.50
Zinc Spot /LME 2,308.50 -0.83 12.45
Iron Ore 58%/Tianjin
Copper Spot /LME 6,703.00 -1.09 -9.12
Oil 85.82 0.06 -12.80
Gold Spot /LME 1,233.37 0.83 2.64
Silver Spot /LME 17.51 0.65 -10.08
MONGOLIAN ECONOMIC INDICATORS
Date Last
YoY change
%
RGDP /bln. MNT/ 2014.07 9,857 5.3
NGDP /bln.MNT/ 2014.07 6,635 14.6
Inflation 2014.07 14.9
Foreign reserve /mln. USD/ 2014.06 1,317.5 -57.6
Policy rate July 31 ,2014 12.00
DEBT MARKET
Bonds - Coupon
Amt.
issued mln
USD
Last Yield Maturity date
DBM bond - 5.75 580 97.65 6.812 3/21/2017
MMC bond - 8.875 600 65.25 29.826 3/29/2017
Mongol 2018 - 4.125 500 94.90 5.698 1/5/2018
Mongol 2022 - 5.125 1,000 89.44 6.743 12/5/2022
TDBM 2015 - 8.5 300 99.52 9.037 9/20/2015
TDBM 2015 - 12.5 25 99.50 12.724 11/17/2015
TDBM 2017 - 10 dim sum 115 97.95 10.759 1/21/2017
DBM bond - 1.52 sam. 290 103.43 1.118 12/25/2023
INDICES CHANGE
MSE TOP 5 MOST TRADED
Trade value '000
MONGOLIAN RELATED NEWS
Bank of Mongolia hosted SEACEN course
The Bank of Mongolia successfully hosted the SEACEN Course on Assessing Liquidity Risk of a
Bank in Ulaanbaatar. The SEACEN Course on Assessing Liquidity Risk of a bank was designed to
specifically build capacity of bank supervisors in the application of the liquidity ratios according to
international sound practices and methodologies and strengthen the understanding of liquidity risk
management measures taking into account changing financial market landscape. Some 34
participants representing 15 institutions of 13 countries have been nominated to participate and 6
speakers specialized in Liquidity Risk Assessment representing Australia, United States, Thailand,
Malaysia, Japan and Mongolian Regulatory Authorities and Commercial banks shared their insights
into the mentioned topic. SEACEN is the South East Asian Central Banks (SEACEN) Research and
Training Centre was, which was first established as a legal entity in 1982 with eight member central
banks/monetary authorities, which has since grown to nineteen members in 2013.
http://vom.mn/d/6733
Denison Mines Corp Short Interest Up 1.5% in September (DNN)
Shares of Denison Mines Corp (NYSE:DNN) were the target of a significant increase in short interest
in September. As of September 30th, there was short interest totalling 12,204,067 shares, an
increase of 1.5% from the September 15th total of 12,023,145 shares, American Banking and Market
News reports. Based on an average daily trading volume, of 692,535 shares, the days-to-cover ratio
is currently 17.6 days. Approximately 2.8% of the shares of the company are sold short. A number of
analysts have recently weighed in on DNN shares. Analysts at BMO Capital Markets reiterated a
speculative market perform rating on shares of Denison Mines Corp in a research note on
Thursday, August 14th. Analysts at LB Securities initiated coverage on shares of Denison Mines Corp
in a research note on Monday, July 28th. They set a buy rating on the stock. Denison Mines Corp
(NYSE:DNN) traded down 0.98% during mid-day trading on Thursday, hitting $1.01. 648,513 shares
of the companys stock traded hands. Denison Mines Corp has a one year low of $0.99 and a one
year high of $1.76. The stock has a 50-day moving average of $1.21 and a 200-day moving average
of $1.28. The companys market cap is $501.2 million. Denison Mines Corp (NYSE:DNN) last
released its earnings data on Monday, August 11th. The company reported ($0.02) EPS for the
quarter, missing the Thomson Reuters consensus estimate of ($0.01) by $0.01. Analysts expect that
Denison Mines Corp will post $-0.06 EPS for the current fiscal year. Denison Mines Corp.
(NYSE:DNN) is engaged in uranium exploration, development, mining and milling with uranium
mining projects in both the United States and Canada and development projects in Canada, the
United States, Zambia and Mongolia.
http://www.wkrb13.com/markets/390552/denison-mines-corp-short-interest-up-1-5-in-september-dnn/
GLOBAL NEWS
Asian Stocks Drop With S&P 500 Futures as Yen, Gold Gain
Asian stocks slipped with U.S. index (VIX) futures, extending the rout in equities after Federal
Reserve officials signaled the global economic slowdown could be severe enough to delay interest-
rate increases. The yen climbed with gold and Treasury futures, while crude oil tumbled. The MSCI
Asia Pacific excluding Japan Index fell 0.4 percent by 9:54 a.m. in Seoul, set for its lowest close since
March. South Koreas Kospi index slid 1.1 percent with Japanese markets closed for a holiday.
Standard & Poors 500 Index futures lost 0.4 percent, after the gauge dropped the most since 2012
last week. The yen strengthened to a three-week high as gold jumped 0.6 percent. Brent crude
extended last weeks slump, falling to an almost four-year low. Ten-year Treasury futures (DJA)
climbed to an 11-month high and Australian bonds rose. With the Fed on track to end bond
purchases this month, stocks have fallen amid gains in haven assets on concern over uneven
recoveries from the euro area to China. U.S. rate rises could be delayed by slowdowns elsewhere,
Fed Vice Chairman Stanley Fischer said during International Monetary Fund meetings in Washington
at the weekend, and Fed Governor Daniel Tarullo said hes worried about global growth. China is due
to report trade data today, while in Hong Kong, police have started removing roadblocks as protests
enter their third week.
http://www.bloomberg.com/news/2014-10-12/u-s-futures-slip-with-oil-on-global-outlook-as-yen-
gains.html
2014-10-13
13 October 2014
Daily Report
Performance
Last Country Index
Indicator
Performance
Last
USD
Commodity
NEWS & ANALYSIS
-3.64
-0.20
2.39
4.45
-6.06
-3.59
-0.93
-7.99
-6.08
YTD %
0.08
-0.69
-2.33
-1.61
-1.43
-0.55
-1.90
-2.40
-1.15
MSE - Top20
DJIA
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
DAX
Nikkei 225
Change % (Day)
20
1,920
120
463
138
4,300
0 2,000 4,000 6,000
BDL
GOV
JTB
NEH
SHG
TCK
-9.09%
0.00%
0.00%
-10% -5% 0% 5%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
0
2,000
4,000
6,000
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Volume MSETOP Index
Daily Report | 2014.10.13

13 October 2014 2
MONGOLIAN RELATED COMPANIES
Name Sym Currency Last Chg day % YTD %
Trade value
000 USD
Market cap
mln USD/
52w high 52w low
Currency
cross
Turquoise Hill TRQ US Equity USD 3.620 -1.63 9.70 9,214.6 7,284.52 4.36 3.01 1.00
Centerra Gold CG CN Equity CAD 5.560 0.18 28.70 3,911.0 1,174.70 6.90 2.82 1.12
MMC 975 HK Equity HKD 0.920 0.00 -10.68 614.4 439.43 1.43 0.48 7.76
Denison Mines Corp DML CN Equity CAD 1.100 -2.65 -14.73 2,104.6 496.91 1.95 1.02 1.12
Winsway Coking Coal Holdings Ltd 1733 HK Equity HKD 0.375 0.00 -23.47 192.3 182.41 0.69 0.31 7.76
MoEnCo 276 HK Equity HKD 0.172 0.00 -29.22 104.2 149.82 0.29 0.15 7.76
SouthGobi Resources 1878 HK Equity HKD 4.720 0.00 -31.40 30.8 113.98 9.90 4.38 7.76
Central Asia Metals PLC CAML LN Equity GBp 160.000 -1.08 13.48 16,365.9 284.49 190.00 134.75 0.62
Mongolia Investment Group Ltd 402 HK Equity HKD 0.350 0.00 20.69 21,880.1 302.25 0.41 0.16 7.76
Mongolia Growth Group YAK CN Equity CAD 1.740 -3.87 -23.35 39.5 54.12 3.07 1.71 1.12
North Asia Resources Holdings Ltd 61 HK Equity HKD 0.155 0.00 -14.84 65.4 80.93 0.21 0.10 7.76
Guildford Coal Ltd GUF AU Equity AUD 0.038 -5.00 -54.14 2.0 27.96 0.14 0.04 1.15
Origo Partners PLC OPP LN Equity GBp 7.625 0.00 3.39 1,995.6 43.81 9.50 6.63 0.62
Entree Gold Inc ETG CN Equity CAD 0.260 0.00 -16.13 17.6 34.15 0.53 0.26 1.12
Aspire Mining Ltd AKM AU Equity AUD 0.043 -2.27 -23.21 #VALUE! 26.29 0.08 0.03 1.15
Prophecy Coal Corp PCY CN Equity CAD 0.050 0.00 -37.50 0.0 11.26 0.11 0.04 1.12
FeOre Ltd FEO AU Equity AUD 0.055 0.00 34.15 0.4 25.33 0.08 0.03 1.15
Petro Matad Ltd MATD LN Equity GBp 2.875 0.00 -23.33 1.9 12.94 11.50 2.63 0.62
Xanadu Mines Ltd XAM AU Equity AUD 0.110 0.00 120.00 0.0 23.13 0.18 0.03 1.15
Haranga Resources Ltd HAR AU Equity AUD 0.017 0.00 -72.58 3.8 3.58 0.09 0.02 1.15
Wolf Petroleum Ltd WOF AU Equity AUD 0.067 -1.47 -4.29 1.2 15.27 0.09 0.03 1.15
Manas Petroleum Corp MNAP US Equity USD 0.142 9.23 107.30 48.0 24.51 0.17 0.04 1.00
KRI CN Equity CAD 0.390 -2.50 36.84 36.7 23.75 0.45 0.17 1.12
Voyager Resources Ltd VOR AU Equity AUD 0.002 0.00 -50.00 0.0 2.70 0.01 0.00 1.15
East Asia Minerals Corp EAS CN Equity CAD 0.030 -14.29 -25.00 0.1 2.88 0.11 0.03 1.15
Erdene Resource Development Corp ERD CN Equity CAD 0.140 16.67 0.00 3.4 9.38 0.26 0.07 1.12
Modun Resources Ltd MOU AU Equity AUD 0.003 0.00 -25.00 3.3 4.23 0.01 0.00 1.15
Kincora Copper Ltd KCC CN Equity CAD 0.040 -11.11 60.00 0.9 11.07 0.09 0.02 1.12
General Mining Corp Ltd GMM AU Equity AUD 0.007 0.00 -58.82 0.1 0.82 0.03 0.01 1.15
Draig Resources Ltd DRG AU Equity AUD 0.015 0.00 -57.14 2.7 0.87 0.04 0.01 1.15
Newera Resouces Ltd NRU AU Equity AUD 0.002 0.00 -66.67 6.3 2.05 0.01 0.00 1.15
Blina Minerals NL BDI AU Equity AUD 0.001 0.00 0.00 0.0 1.29 0.00 0.00 1.15
Source: Bloomberg
MONGOLIAN STOCK MARKET
12 October 2014 11 JSC's 2,454 shares worth 8.83 mln MNT have been
traded.
TOP20 index was 15,708.23 0.08% YTD -3.64%
Company name Trade volume
Trade
value '000
Last Chg day Chg day %
Buy
volume
Buy price Sell price Sell volume
APU 94 352.5 3750 0 0.00% 2 3701 3750 106
BAN 134 469 3500 0 0.00% 100 3400 3600 5
BDL 2 20 10000 -1000 -9.09% 0 0 10000 2
GOV 237 1919.7 8100 0 0.00% 0 0 8100 91
JTB 1,500 120 80 0 0.00% 208 80 82 2880
NEH 25 462.5 18500 0 0.00% 75 18500 19000 10
SHG 20 138 6900 100 1.47% 25 6800 6900 20
TCK 215 4300 20000 0 0.00% 9 20000 20460 10
TTL 9 45 5000 0 0.00% 100 4956 5090 105
BHL 20 15.6 780 0 0.00% 0 0 780 48
DHU 198 990 5000 0 0.00% 2 5000 5450 195
30 day graphic
Change day
3
0
2013.06 2702.1
2013.06 7591
13606.65
3750
13 October 2014
Diclaimer
This document has been prepared by the investment banking division of Golomt Bank for information purpose only. The views
expressed are the views of the analyst and are subject to change based on market and other conditions and factors. The
information provided does not constitute investment advice or other recommendations and should not be relied on as such. It
should not be considered a solicitation to buy or an offer to sell a security or to pursue any trading or investment strategy. All
material, including information sourced from or attributed to Golomt Bank, has been obtained from sources believed to be
reliable, but its accuracy is not guaranteed. Past performance is no guarantee for future results. Accordingly you must
independently determine, with your own advisors, the appropriateness for you of the securities/transactions before investing
or transacting.
Investment Banking Division of Golomt Bank

The principal activities of Investment Banking Division constitute structuring, sourcing, negotiating and closing debt and equity
financings as well as the provision of incisive advisory services for private and public companies as well as institutions, public sector
agencies and authorities.

Our vision is to fuel the profitable growth of our valued clients by providing the highest-quality investment banking services, and in so
doing create an environment which will lead to long term, mutually beneficial relationships. We strive to achieve these lasting
relationships by matching each client assignment with the collaborative expertise of the Banks team of seasoned banking and
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Contact

Sukhbaatar Square, Ulaanbaatar 210620A, Mongolia
Fax: +976-70117676 /1402/
E-mail: ibd@golomtbank.com
Website: www.golomtbank.com