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Last C$0.92 CAD
Change Today +0.06 / 6.98%
Volume 500.0
SGQ On Other Exchanges
Symbol
Exchange
Toronto
OTC US
Berlin
Hong Kong
As of 1:03 PM 05/27/15 All times are local (Market data is delayed by at least 15 minutes).

southgobi resources ltd (SGQ) Snapshot

Open
C$0.92
Previous Close
C$0.86
Day High
C$0.92
Day Low
C$0.92
52 Week High
05/11/15 - C$1.25
52 Week Low
02/3/15 - C$0.41
Market Cap
221.2M
Average Volume 10 Days
5.9K
EPS TTM
C$-0.52
Shares Outstanding
240.5M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for SOUTHGOBI RESOURCES LTD (SGQ)

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southgobi resources ltd (SGQ) Details

SouthGobi Resources Ltd. operates as an integrated coal mining, development, and exploration company. It explores for metallurgical and thermal coal deposits in Mongolia's South Gobi region to supply a range of coal products to customers in Asia. The company’s flagship project is the Ovoot Tolgoi mine that contains approximately 175.7 million tons of proven and probable surface coal reserves located in the southwest corner of the Umnugobi Aimag of Mongolia. It also owns interest in three development projects, such as the Soumber Deposit, the Zag Suuj Deposit, and the Ovoot Tolgoi Underground Deposit located in the Umnugobi Aimag of Mongolia. The company was formerly known as SouthGobi Energy Resources Ltd. and changed its name to SouthGobi Resources Ltd. in May 2010. The company was incorporated in 2002 and is headquartered in Vancouver, Canada.

348 Employees
Last Reported Date: 05/11/15
Founded in 2002

southgobi resources ltd (SGQ) Top Compensated Officers

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Executives, Board Directors

southgobi resources ltd (SGQ) Key Developments

SouthGobi Resources Announces Extension Of TSX Delisting Review

SouthGobi Resources Ltd. announced the extension of the delisting review following confirmation that the Continued Listing Committee of the Toronto Stock Exchange (TSX) has determined to defer its delisting decision until no later than June 24, 2015. On February 25, 2015, the Company was placed on a remedial delisting review in connection with its reliance on the financial hardship exemption which allowed the Company to complete the private placement with Novel Sunrise Investments Limited (Novel Sunrise) without seeking shareholder approval. On May 12, 2015 the Company requested an extension of the delisting review following delays in the closing of the share purchase agreement between Novel Sunrise and Turquoise Hill Resources Ltd. and the associated delays in the implementation of the Company's proposed funding plan. On May 22, 2015, the Company received confirmation that the Committee of the TSX had extended the review and would meet on June 22, 2015 to consider whether the Company has met the listing requirements of the TSX. The Committee is expected to issue its decision on a potential delisting of the Company's Common Shares on the TSX no later than June 24, 2015. The Company believes the above extension will provide it with sufficient time to continue with the implementation of the Company's Proposed Funding Plan and allow it to demonstrate that it will be compliant with the continued listing requirements of the TSX. However, no assurance can be provided as to the implementation of the Proposed Funding Plan nor the outcome of the remedial delisting review.

SouthGobi Resources Ltd. Announces Management Changes

SouthGobi Resources Ltd. announced appointment of two new directors to the company's Board of Directors following the successful closing of the Novel Sunrise Investments Limited private placement. Mr. Ningqiao Li, 51, has been appointed as a non-executive director ("Non-Executive Director") of the Company effective May 15, 2015. Mr. Li is also a director of Novel Sunrise. Mr. Li has almost 30 years' experience in enterprise management, corporate governance and strategic investment. He is also knowledgeable about the real estate, energy, and financial institution sectors. Beyond his positions with the Company and Novel Sunrise, Mr. Li is also the Senior Advisor of Convoy Investment Services Limited. Mr. Yulan Guo, 30, has been appointed as a Non-Executive Director of the Company effective May 15, 2015. Mr. Yulan Guo is a Vice President of the Investment Banking Department of China International Capital Corporation Limited ("CICC"), where he started his career in 2008. Mr. Guo possesses extensive experience in a variety of transactions in Mainland China, Hong Kong and the U.S. capital markets. He has arranged over USD 10 billion of equity and debt financings as well as M&A transactions. Mr. Guo also possesses industry expertise in mining and energy sectors, from both financial and operational aspects. The company also announces that effective May 15, 2015, Mr. Bold Baatar has resigned as a Non-Executive Director and member of the Health, Environment, Safety and Social Responsibility Committee and the Mergers and Acquisitions Committee due to his other business commitment.

SouthGobi Resources Limited Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015

SouthGobi Resources Limited reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company recorded revenue of $1,587,000 against $5,137,000 a year ago. Loss from operations was $16,626,000 against $16,711,000 a year ago. Net loss attributable to equity holders of the company was $23,284,000 or $0.11 per basic and diluted share against $20,755,000 or $0.11 per basic and diluted share a year ago. The operations for the first quarter of 2015 were impacted by continuing difficult market conditions, including a further weakening of coal prices in China. Other operating income in the first quarter was $1 million consisting primarily of foreign exchange gains. For the period, the company reported production of 0.18 million tonnes compared to 0.37 million tonnes in the fourth quarter of 2014. Average realized prices decreased to $12.66 per tonne compared to $15 per tonne in the fourth quarter of 2014, due to declining coal prices and the less favorable product mix.

 

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