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SouthGobi Resources Ltd (SGQRF.PK)

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

0.26USD
23 Sep 2016
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Latest Key Developments (Source: Significant Developments)

Turquoise Hill announces disposal of shares of SouthGobi Resources
Thursday, 22 Sep 2016 04:30pm EDT 

Turquoise Hill Resources Ltd : Disposed 375,000 common shares of SouthGobi Resources Ltd on September 22, 2016 at an average price of CDN$0.2780 per share . Turquoise Hill announces disposal of shares of SouthGobi Resources .Owns approximately 9.9198% of SouthGobi's issued and outstanding common shares.  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

SouthGobi Resources Q1 revenue $12.7 mln vs $1.6 mln
Monday, 16 May 2016 08:33am EDT 

SouthGobi Resources Ltd : Sold 0.88 million tonnes of its coal products during quarter compared to 0.18 million tonnes in q1 of 2015 . Production for q1 of 2016 was 0.37 million tonnes . Continues to operate under difficult market conditions as prices for coal remained weak in china through q1 . Southgobi resources ltd qtrly loss per share $0.06 . Company has decided to advance funding plan rather than additional equity placements . Consolidated financial statements prepared on going concern basis assumes co will continue operating until at least march 31, 2017 . In order to continue as a going concern, company must generate sufficient operating cash flows, secure additional capital . "had limited cash of $0.4 million at march 31, 2016 and anticipates that coal prices in china will remain under pressure in 2016" . Company is actively seeking prepaid coal offtake agreements and other additional sources of financing to continue operating . Co is unlikely to have sufficient capital resources or cash flows from mining operations in order to satisfy ongoing obligations . Co, together with strategic partner, novel sunrise investments limited has developed and continues to execute a funding plan . Continues to execute funding plan to pay trq loan, short-term bridge loan and interest due under cic convertible debenture . Southgobi resources announces first quarter 2016 financial and operating results.  Full Article

SouthGobi Resources updates on Turquoise Hill Resources Ltd shareholder loans<1878.HK>
Monday, 16 May 2016 06:06am EDT 

SouthGobi Resources Ltd <1878.HK>: S-update on Turquoise Hill Resources Ltd shareholder loan and short-term bridge loan <1878.HK> . On may 16, 2016, company and Turquoise Hill Resources Ltd entered into a deferral agreement . Loan granted by Turquoise Hill with an outstanding loan principal of US$3.4 million .  Full Article

BRIEF-Turquoise Hill announces disposal of shares of SouthGobi Resources

* Disposed 375,000 common shares of SouthGobi Resources Ltd on September 22, 2016 at an average price of CDN$0.2780 per share