According to front page article of major Mongolian daily “ Unuudur” of September 8,2010, representatives of “Energy Resources” (ER)have strongly denied that they are related to Mongolian Mining Corp, IPO of which is planned in HKex, according to reports by Bloomberg, Reuters and WSJ. CEO of ER G.Battsengel has said over the phone-” The information that we are going to raise 700 million from HKex is unfounded information. I note that ER has no relation to Mongolian Mining Corp.”
According to the paper, the reporter has verified with several employees of the ER ,who have said: “ How can we keep info like that secret. We would be proud if we were to raise 700 million . Although this shows that foreign media report falsely, we it view as a good omen.”
According to the paper, “ no one was found who would be able to explain why Mongolian Mining Corp. is being mixed with ER”.