Monday, May 23, 2011

YES!!! "Van Eck Plans Mongolia Equities ETF"

From a May '09 post, "With a Name Like Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co., it has to be good ( 600111:Shanghai)":

In December 2007 I wrote:

How the heck did I miss Mongolia Energy Co. Ltd.?...
The question has haunted me to this day.
[you really need to get out more -ed]

MEco was the number two stock in the Bloomberg Worldwide Index that year, up 5911.17%.
I vowed that I "will study and learn, and one day my chance will come."
[ummm, wasn't that Lincoln?]

So when a reader emailed in response to this morning's "China tightens grip on rare earths":
"How do I participate?"
I had the [a -ed] answer.

IMBSREHTco's parent company has world’s largest rare earths deposits.
[the first letters of the acronym are IMBS, tee hee -ed]...
Always remembering that Mongolia and Inner Mongolia are separated by an international border.
From Index Unirverse:

Van Eck Global, the New York-based fund sponsor known for its natural resources investments, filed paperwork with the Securities and Exchange Commission to market an equities fund of companies in Mongolia, the copper-rich landlocked Asian nation that shares borders with both Russia and China.

The Market Vectors Mongolia ETF will hold at least 80 percent of its assets in companies either based in or listed in Mongolia, or based elsewhere but derive at least half their revenues from business activities in Mongolia, according to the filing. Van Eck said that as of the filing, the basic materials, energy and industrials represent a significant portion of the index, which it didn’t name.

The country has an array of mineral deposits, including oil, coal, copper, molybdenum, tungsten, phosphates, tin, nickel, zinc, fluorspar, gold, silver and copper, according to the Central Intelligence Agency’s “World Factbook.” Copper is likely to be a big part of the country’s economic future. According to the CIA, the Mongolian government in October 2009 passed legislation on an investment agreement to develop Mongolia’s Oyu Tolgoi mine, one of the world’s largest untapped copper deposits....MORE
HT: Abnormal Returns

From Mongolia Today:

Best hairdo, Hun style
Punks, rocks, skin heads... over last decades the world has seen all possible shapes and forms of human haircut. What was in fashion among steppe nomads some 2,000 years ago?
Prof. Bayar's research sheds light into the best hairdos of the past...

Nomadic chic hairdo
Reconstructed by M.Chimeddorj