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SouthGobi Resources Ltd V.SGQ

Alternate Symbol(s):  SGQRF

Energy
SouthGobi Resources Ltd. is a Canada-based coal mining, development, and exploration company. The Company holds six mining licenses in Mongolia. The mining licenses pertain to the Ovoot Tolgoi Mine (MV-012726), the Soumber Deposit (MV-016869, MV-020436 and MV-020451) and the Zag Suuj Deposit (MV-020676 and MV-020675). The Ovoot Tolgoi Mine, strategically located approximately 40km from the Shivee Khuren-Ceke crossing at the Chinese-Mongolian border (Shivee Khuren Border Crossing). The Ovoot Tolgoi Mine has two distinct pits, namely the Sunrise and Sunset pits. The Soumber Deposit, comprising the Central Soumber, East Soumber, Biluut, South Biluut and Jargalant Fields, is located approximately 20km east of the Ovoot Tolgoi Mine. The Zag Suuj Deposit, located approximately 150km east of the Ovoot Tolgoi Mine and approximately 80km north of the Mongolia-China border, lies within the administrative units of Noyon and Bayandalai Soums in the Umnugobi Aimag (South Gobi Province).


TSXV:SGQ - Post by User

SouthGobi Resources Ltd
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Post by Betteryear2on May 08, 2023 4:49pm
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Post# 35437230

SouthGobi Announces Positive Profit Alert

SouthGobi Announces Positive Profit AlertVANCOUVER, BC / ACCESSWIRE / May 8, 2023 / SouthGobi Resources Ltd. (TSX-V:SGQ09)(HK:1878) ("SouthGobi" or the "Company") wishes to inform the shareholders of the Company and potential investors that, based on the Company's preliminary assessment of the unaudited management accounts of the Company for the quarter ended 31 March 2023 and the information currently available to the Company, it is expected that the Company would record a net profit within the range of USD 5 million to USD 9 million for the quarter ended 31 March 2023, as compared to a net loss of USD 10.8 million for the corresponding period in 2022. The expected increase in net profit is mainly attributed to the increase in coal prices and coal sales volume during the first quarter of 2023.

SouthGobi Announces Positive Profit Alert (accesswire.com)
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