March 26, 2017 9:52 PM ET

Company Overview of Southgobi Sands LLC

Company Overview

Southgobi Sands LLC operates as a subsidiary of SouthGobi Resources Ltd.

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Mongolia

Key Executives for Southgobi Sands LLC

Southgobi Sands LLC does not have any Key Executives recorded.

Southgobi Sands LLC Key Developments

SouthGobi Resources Ltd. Announces Dismissal of the Lawsuit Against Southgobi Sands LLC

SouthGobi Resources Ltd. announced that, in relation to the receipt of lawsuit notice from a fuel supplier. The company announced that the Khan-Uul District Civil Court of First Instance in Mongolia (the Court) has dismissed the litigation raised by Magnai Trade LLC (MT) against SouthGobi Sands LLC (SGS, in relation to a claim of MNT 22.2 billion (approximately USD 8.9 million) on the basis that if the dispute cannot be amicably resolved, it must be settled by arbitration in Mongolia, rather than litigation, in accordance with the express provisions of the fuel supply agreement between SGS and MT.

SouthGobi Sands LLC Receives Lawsuit Notice from the Khan-Uul District Civil Court

SouthGobi Resources Ltd. announced that SouthGobi Sands LLC has received a lawsuit notice from the Khan-Uul District Civil Court of First Instance in Mongolia in relation to a claim from Magnai Trade LLC of MNT 22.2 billion (approximately USD 8.9 million) consisting of MNT 14.6 billion of outstanding fuel supply payments and MNT 7.6 billion of late payment penalty and associated interest costs.

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