South Gobi '11 Sales Up 58% January 18, 2012 18:00 ET
SouthGobi Resources Sells More Than Four Million Tonnes of Coal in 2011, 58% More Than 2010
HONG KONG, CHINA--(Marketwire - Jan. 18, 2012) - SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) announces the successful completion of 2011 on guidance in terms of coal sales and production. The 2011 sales and production levels represent significant achievements for SouthGobi.
SouthGobi completed the fourth quarter of 2011 in-line with its guidance in terms of coal sales and production. The Company sold approximately 1.15 million tonnes of coal during the fourth quarter of 2011, resulting in full-year 2011 sales of 4.02 million tonnes against 2.54 million tonnes sold in 2010, an increase in sales of approximately 58%. Coal production for the fourth quarter of 2011 was approximately 1.34 million tonnes, resulting in full-year 2011 production of approximately 4.57 million tonnes against coal production of 2.79 million tonnes in 2010, showing growth for the year of approximately 64%.