DANVILLE, Calif., Jun 23, 2010 (GlobeNewswire via COMTEX) -- S3 Investment Company, Inc. (Pink Sheets:SIVC) today announced that the company"s Chairman and CEO Jim Bickel has attended a conference titled "Mongolia: Capital Raising" held on June 15-16, 2010 at the Chinggis Khaan Hotel in Ulaanbaatar, Mongolia. This annual conference focused on capital raising by Mongolian private sector and the Mongolian government by way of privatization and/or sovereign bond issues. According to conference organizers, investment opportunities in Mongolia have become exponentially abundant as the country is aggressively emerging from severe economic crisis last year and its mining sector is poised to boom.
S3"s wholly owned Redwood Capital subsidiary, which assists private Chinese companies in accessing the North American capital markets by achieving reverse merger and financing transactions, has recently signed a new client that operates in Mongolia"s mining sector. Redwood Capital is exploring additional opportunities the country, which is considered an exciting potential new market for investment.
The conference welcomed a variety of professionals and business partners in the world"s financial centers. It was an opportunity to get acquainted, present the promising possibilities to invest or to be invested and cooperate; to meet, communicate and expand networks between foreign entities and local representatives and companies. Mongolian businessmen met with major foreign stock exchanges, investment banks, investors and other various types of professionals in the markets.
Mongolia has recently gained attention as a new frontier for foreign private equity investment, particularly in the areas of natural resources and mining. Mongolia has usd5 billion economy with 8percents average annual Gross Domestic Product growth. As one of the fastest growing markets in the world, its key economic driver is natural resources. Mongolia is estimated to need up to usd30 billion of investment to develop its natural resources. Canada"s Ivanhoe Mines and its partner, Rio Tinto, one of the largest mining companies in the world, have recently signed an agreement for the development of a usd3 billion copper and gold mine in Mongolia.
"I was pleased to have the opportunity to attend this investment conference in Ulaanbaatar," said S3 Investment Company Chairman and CEO Jim Bickel. "Having visited Mongolia on my previous trip to Asia as Redwood Capital was preparing to sign Monseka Mining Corporation as a client, I was already aware of the significant opportunities in Mongolia, but this event has only strengthened my belief that Redwood Capital may find additional business in the country."
Monseka Mining Corporation was founded to become a world class multi-mineral provider focused on the production of tungsten, tin, molybdenum and bismuth. The company has a successful track record analyzing mines for major mining companies in Mongolia, Australia, Indonesia, Papua New Guinea, and Vietnam, plans to expand while maintaining a unique earnings growth model by continually acquiring producing properties, which they can improve efficiency, and acquiring late-stage proven reserves that can be quickly brought to production. The company"s business model focuses on low cost acquisition of current production and late stage resources. Monseka Mining has 4 current projects: one in production, one in development and two in feasibility study stage.