SouthGobi Resources
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Junior sold for 800% more 18 months after IPO as coal miners go mad for Mongolia
Strong interest in the Mongolian resource sector has provided shareholders in Hunnu Coal a 800% gain in only 18 months. Thailand's Banpu announced Tuesday it is taking over the ASX-listed junior for $400 million or $1.80/share – Hunnu went public in February 2010 at 20c.
Hunnu may be the first of many firms with Mongolian coal assets to attract bidders with Ivanhoe Mines' SouthGobi and TSX-V junior Prophecy Coal talked about as likely targets and a way in for smaller investors who are not be able to participate in Tavan Tolgoi's $3 billion IPO slated for next year.
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SouthGobi Resources sells more than four million tonnes of coal in 2011, 58% more than 2010
Marketwire - Mining and Metals | January 18, 2012SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) announces the successful completion of 2011 on guidance in terms of coal sales and production.
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SouthGobi sets new coal shipment record of 441,665 tonnes of coal in August
Marketwire - Coal | September 7, 2011Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. (TSX: SGQ)(SEHK: 1878) announced Wednesday that the company has set a new monthly record of 441,665 tonnes of coal shipped in August, representing a substantial increase over shipping levels in the second quarter of 2011.
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SouthGobi Resources announces Soumber coal deposit officially registered with Government of Mongolia
Marketwire | June 3, 2011
SouthGobi Resources announced that it has been notified by the Mineral Resource Authority of Mongolia (MRAM) that the company's Soumber coal deposit has been officially registered.
The registration process includes calculation of resources to Mongolian standards, review of the calculations by MRAM-appointed industry experts, and defense of the calculations before the Minerals Resource Committee. Mineral deposit registration is a prerequisite for applying for a Mining License.
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SouthGobi fuel supplier claims force majeur
Marketwire | May 11, 2011
Mongolia’s SouthGobi Resources said that its fuel supplier claimed a force majeur after Russia cut supplies to the country to a mere 10,000 tonnes. The company said its flagship coal mine, Ovoot Tolgoi, has enough fuel to last 45 days under normal operations or around three months if it scaled back production. SouthGobi also stated that it has coal in inventory and customer trucks can be fuelled in China, a short distance away from the mine.
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ANNOUNCEMENT
Orezone Completes the Sale of Sega to Cluff Gold for $26.5M
Orezone Gold Corporation (ORE:TSX) is pleased to announce that it has completed the sale of its Sega Gold Project ("Sega") in Burkina Faso to Cluff Gold plc (Cluff) for total consideration of approximately US$26.5M.
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