Edition:
United States

SouthGobi Resources Ltd (SGQRF.PK)

SGQRF.PK on OTC Markets Group - US Other OTC and Grey Market

0.16USD
7 Aug 2017
Change (% chg)

-- (--)
Prev Close
$0.16
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
1,400
52-wk High
$0.35
52-wk Low
$0.10

Latest Key Developments (Source: Significant Developments)

Southgobi Resources announces qtrly loss per share $0.03
Monday, 14 Aug 2017 07:50am EDT 

Aug 14 (Reuters) - Southgobi Resources Ltd :Southgobi Resources announces second quarter 2017 financial and operating results.Q2 revenue $34.7 million versus $10.4 million.Southgobi Resources Ltd - ‍Company sold 1.48 million tonnes of coal product during Q2 of 2017 as compared to 0.82 million tonnes for Q2 of 2016​.Qtrly loss per share $0.03.Southgobi - ‍Initiated plan to change existing product mix to "higher value", "higher margin" outputs by washing certain grades of coal from H2 2017​.Southgobi Resources Ltd - ‍In light of reconstitution of board and appointment of new directors, co's strategic advisory board was dissolved on June 30​.Southgobi -‍ Has entered into agreement for finance lease on new wash plant facility but will need financing to complete thermal coal processing facilities​.  Full Article

SouthGobi Resources qtrly loss per share $0.04
Friday, 12 May 2017 08:35am EDT 

May 12 (Reuters) - Southgobi Resources Ltd :Southgobi resources announces first quarter 2017 financial and operating results.Q1 revenue $25.3 million versus $12.7 million.Qtrly loss per share $0.04.Southgobi resources ltd - sold 1.11 million tonnes of coal product during q1 of 2017 as compared to 0.88 million tonnes.Southgobi resources - initiated a plan to change existing product mix to higher value,higher margin outputs by washing certain grades of coal commencing in h2 2017.Southgobi resources-due to improved market conditions and prices for coal in china, co's q1 results improved with increase in average selling price of coal.Southgobi resources - unless co acquires additional sources of financing and/or funding in short term, ability of co to continue as going concern is threatened.Southgobi resources ltd - company has also completed a new mine plan.Southgobi resources - entered an agreement for finance lease on new wash plant facility, will need financing to complete thermal coal processing facilities.Southgobi resources - unless co, acquires additional sources of financing,funding in short term, ability of co to continue as going concern is threatened.Southgobi resources-if co is unable to continue as going concern, it may be forced to seek relief under applicable bankruptcy and insolvency legislation.Southgobi - plans will involve need for "significant" level of stripping activities over next 2 years & require certain capex to achieve designed production outputs.  Full Article

SouthGobi Resources reports qtrly shr loss of $0.07
Friday, 31 Mar 2017 10:30am EDT 

SouthGobi Resources Ltd : SouthGobi resources announces fourth quarter and full year 2016 financial and operating results and updated resource estimate and newly declared reserve estimate in respect of Ovoot Tolgoi . Q4 revenue $19 million versus $2.9 million . Production for Q4 of 2016 was 1.21 million tonnes, compared to 0.62 million tonnes for Q4 of 2015 . Company sold 1.08 million tonnes of coal during Q4 of 2016 compared to 0.21 million tonnes in Q4 of 2015 . Qtrly basic and diluted loss per share $0.07 .In order to continue as going concern, co must generate sufficient operating cash flows or pursue strategic restructuring, refinancing.  Full Article

Southgobi announces deferral agreement with China Investment Corp
Monday, 18 Jul 2016 10:02am EDT 

Southgobi Resources Ltd says: Southgobi announces deferral agreement with CIC . Deferral agreement covers outstanding deferred cash interest obligations and associated costs of us$18.8 million . Next issue date anniversary cash interest payment of US$8.1 million due on November 19, 2016 . As a consideration for deferred payments, company will pay a deferral fee at a rate of 6.4% per annum to CIC .Pursuant to deferral agreement, co agreed to repay $1.3 to $1.4 million monthly during July to November 2016, repay $20.7 million on Dec 19, 2016.  Full Article

SouthGobi Resources updates on China Investment Corp interest payments deferral<1878.HK>
Friday, 17 Jun 2016 07:09am EDT 

SouthGobi Resources Ltd: Gives update on CIC interest payments deferral . Refers to announcement stating it executed deferral agreement with China Investment Corporation . Says company is in discussion with CIC for a repayment plan . Says executed a deferral agreement with China Investment Corp (CIC) for the deferral of about U.S.$18.7 million to June 17, 2016 . Says deferral related to cash interest obligations and associated costs payable to CIC under terms of a convertible debenture .  Full Article

SouthGobi provides an update on Ontario class action
Tuesday, 31 May 2016 08:00am EDT 

SouthGobi Resources Ltd : SouthGobi provides an update on the Ontario class action . Announces may 24, 2016 decision of Ontario superior court of justice .Will proceed to appeal original decision which will likely be heard by appellate court in fall of 2016.  Full Article

SouthGobi Resources provides an update on the Ontario class action<1878.HK>
Tuesday, 31 May 2016 07:29am EDT 

SouthGobi Resources Ltd : S-SouthGobi provides an update on the Ontario class action <1878.HK> . Will therefore proceed to appeal the original decision which will likely be heard by the appellate court in the fall of 2016 . Says the court granted SouthGobi leave to appeal the decision made on November 5, 2015 .  Full Article

SouthGobi announces agreement with China Investment Corp for deferral of interest payments<1878.HK>
Monday, 30 May 2016 07:19am EDT 

SouthGobi Resources Ltd : S-SouthGobi announces agreement with cic for deferral of interest payments <1878.HK> . Says the company executed a deferral agreement with China investment corporation . Agreement for deferral of the sum of approximately u.s.$18.7 million . Says "there is no assurance that the repayment plan will be favorable to the company" . Says believe it will be able to reach a new repayment plan with cic by June 17, 2016 .  Full Article

SouthGobi Resources comments on reported settlement of tax verdict
Wednesday, 18 May 2016 10:43am EDT 

SouthGobi Resources Ltd : SouthGobi resources ltd comments on reported settlement of tax verdict . Has not received any formal notice from government of Mongolia in relation to any settlement proposal .Notes recent Mongolian media reports in connection with reported settlement of us$16.5 million residual financial penalty against SouthGobi sands.  Full Article

SouthGobi Resources comments on reported settlement of Tax Verdict<1878.HK>
Wednesday, 18 May 2016 08:55am EDT 

SouthGobi Resources Ltd : Notes Mongolian media reports in connection with a reported settlement of a US$16.5 million residual financial penalty . Financial penalty against its wholly owned subsidiary, SouthGobi Sands Llc . Company has not received any formal notice from the Government of Mongolia in relation to any settlement proposal .Penalty arising out of judgment of Mongolian second district criminal court of justice in February 2015.  Full Article

BRIEF-Southgobi Resources announces qtrly loss per share $0.03

* Southgobi Resources announces second quarter 2017 financial and operating results