Mongolia Energy Slumps to Lowest in Five Years: Hong Kong Mover - Bloomberg: "Mongolia Energy Corp. (276), a mineral and energy explorer, fell to the lowest level in more than five years in Hong Kong after posting a record full-year net loss.
The shares dropped as much as 15 percent to 35 Hong Kong cents and traded at 35.5 cents as of 11:14 a.m. local time, the lowest level since Feb. 7, 2007. The benchmark Hang Seng Index gained 1.6 percent. Hong Kong’s stock market was closed yesterday for a holiday.
The net loss widened to HK$4.83 billion ($623 million) in the 12 months ended March 31 from HK$310.8 million a year earlier, Mongolia Energy said in a June 29 filing to the Hong Kong stock exchange. The explorer said it accounted for a HK$4.6 billion impairment loss related to its Khushuut coal mine operations in western Mongolia."
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The shares dropped as much as 15 percent to 35 Hong Kong cents and traded at 35.5 cents as of 11:14 a.m. local time, the lowest level since Feb. 7, 2007. The benchmark Hang Seng Index gained 1.6 percent. Hong Kong’s stock market was closed yesterday for a holiday.
The net loss widened to HK$4.83 billion ($623 million) in the 12 months ended March 31 from HK$310.8 million a year earlier, Mongolia Energy said in a June 29 filing to the Hong Kong stock exchange. The explorer said it accounted for a HK$4.6 billion impairment loss related to its Khushuut coal mine operations in western Mongolia."
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