https://www.engineeringnews.co.za

SouthGobi reports minimal Q1 revenue, production restarts

13th May 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Mongolia-focused SouthGobi Resources on Monday reported minimal revenue of $3.3-million for the first quarter ended March 31, as most of its operations were shuttered during the period.

Operations at its flagship Ovoot Tolgoi mine restarted in the quarter, after it had been fully curtailed since the end of the second quarter of 2012.

The Vancouver-based company’s revenue was down from $40.1-million a year earlier.

SouthGobi reported a net loss of $24.9-million, or $0.14 a share, in the period, compared with profit of $3.1-million, or $0.02 a share, a year earlier. The adjusted net loss totalled $11.6-million, compared with adjusted income of $7-million in the same period a year earlier.

The TSX-listed company said it planned to produce 3.2-million tonnes of semi-soft coking coal this year.

The company’s stock traded up half-a-per cent at C$1.91 apiece on Monday afternoon.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Craig Miller Technical Services (CMTS)
Craig Miller Technical Services (CMTS)

CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 0.964s - 140pq - 2rq
Subscribe Now