SouthGobi Resources Ltd. announces that it has agreed to a deferral of the payment obligation which is due and payable to CIC on April 19, 2020. Reference is made to the announcement of the Company dated March 19, 2020 . Capitalized terms used herein, unless otherwise defined, shall have the same meanings as those defined in the Announcement. On April 10, 2020, the Company and CIC entered into an agreement pursuant to [...]
SouthGobi Resources Ltd. announces that Mr. Shougao Wang has tendered his resignation as the Company’s Chief Executive Director , executive director, and the chairperson of the Health, Environment, Safety and Social Responsibility Committee, and ceased to be an authorised representative of the Company pursuant to Rule 3.05 of the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange with effect from [...]
SouthGobi Resources Ltd. : SGQ, Hong Kong Stock Exchange : 1878) today announces its unaudited financial and operating results for the quarter and the year ended December 31, 2019. All figures are in U.S. dollars unless otherwise stated. For the reason set forth below under the heading “Review of Unaudited Annual Results”, the audit process for the Company’s annual results for the year ended 2019 has not been completed by [...]
SouthGobi Resources Ltd. wishes to inform the shareholders of the Company and potential investors that, based on a preliminary review of the information and operational data of the Company currently available, the Company expects to record a net loss in the range of US$13 million to US$18 million for the three months ending March 31, 2020 , as compared to a net profit of US$2.1 million for the three months ended March 31 [...]
SouthGobi Resources Ltd. announces that the board of directors will consider and approve the financial results of the Company and its subsidiaries for the fourth quarter and the full year of 2019 on Monday, March 30, 2020. These results will be released on March 30, 2020. About SouthGobi SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia [...]
SouthGobi Resources Ltd. announces the appointment of Mr. Jianmin Bao as a non-executive director of the Company , with effect from March 18, 2020. Mr. Bao was nominated for appointment as a director of the Company by China Investment Corporation pursuant to a contractual nomination right granted to CIC in connection with the convertible debenture issued by the Company in 2009. Mr. Bao, aged 52, is currently the managing [...]
SouthGobi Resources Ltd. announces that, the resignation of Mr. Wen Yao as a non-executive director of the Company, effective March 11, 2020. Mr. Yao resigned as a director of the Company due to a change to his duties and responsibilities at CIC Capital Corporation, a wholly owned subsidiary of China Investment Corporation , which is a substantial shareholder of the Company. CIC nominated Mr. Yao as a director of the [...]
SouthGobi Resources Ltd. announces the deferral of CIC payment obligation. Reference is made to the announcement of the Company dated February 19, 2020 . Capitalized terms used herein, unless otherwise defined, shall have the same meanings as those defined in the Announcement. On March 10, 2020, the Company and CIC have entered into an agreement pursuant to which CIC agreed to grant the Company a deferral of deferred cash [...]
SouthGobi Resources Ltd. announces the following updates: Reference is made to the announcement dated February 19, 2020 related to the closure of Mongolia’s southern border crossings with China from February 11, 2020. The Company learns that the Mongolian State Emergency Commission has decided to open the border crossings and resume the coal exports to China from March 15, 2020. In order to preserve its working [...]
SouthGobi Resources Ltd. announces the following updates: Update of CIC payment obligations On February 19, 2020, the Company and China Investment Corporation entered into an agreement pursuant to which CIC agreed to grant the Company a deferral of: deferred cash interest and deferral fees of $1.3 million and $2.0 million which were due and payable to CIC on January 19, 2020 and February 19, 2020, respectively, under the [...]
SouthGobi Resources Ltd. announces that PricewaterhouseCoopers LLP has resigned as the auditor of the Company with effect from November 13, 2019, due to the new requirement of the recognition of overseas auditors under the Hong Kong’s Financial Reporting Council Ordinance . The board of directors of the Company , with the recommendation from the audit committee of the Board , has appointed BDO Limited as the new [...]
SouthGobi Resources Ltd. : SGQ, Hong Kong Stock Exchange : 1878) today announces its financial and operating results for the three and nine months ended September 30, 2019. All figures are in U.S. dollars unless otherwise stated. Significant Events and Highlights The Company’s significant events and highlights for the three months ended September 30, 2019 and the subsequent period up to November 13, 2019 are as [...]
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