Voluntary Announcement Business Update
Voluntary Announcement Business Update
VANCOUVER, BC / ACCESSWIRE / July 15, 2022 / SouthGobi Resources Ltd. (TSX:SGQ,
HK:1878) ("SouthGobi" or the "Company") wishes to inform the Company's shareholders
("Shareholders") and potential investors of the latest business update further to its
announcements dated November 2, 2021 and May 25, 2022.
On May 25, 2022, the Ceke Port of Entry re-opened for coal export on a trial basis, with a
limited number of trucks permitted to cross the border during the trial period. Since May 25,
2022, the number of trucks permitted to cross the Chinese-Mongolian border, as well as the coal
exports have been increasing. As a result, the Company's management have decided to gradually
resume mining operations beginning on July 15, 2022. The Company's major mining operations,
including coal mining, shall be resumed and expected to increase coal production volume in a
gradual manner, while the coal processing shall remain suspended for the time being and the
management will revisit the possibility of resumption of coal processing at a later time.
About SouthGobi
SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its
flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining licences of its other
metallurgical and thermal coal deposits in South Gobi region of Mongolia. SouthGobi produces
and sells coal to customers in China.
Contact:
Investor Relations
Office: +852 2156 1438 (Hong Kong)
+1 604 762 6783 (Canada)
Email: [email protected]
Website: www.southgobi.com
Forward-Looking Statements
Certain information included in this press release that is not current or historical factual
information constitutes forward-looking statements or information within the meaning of
applicable securities laws (collectively, "forward-looking statements"), including the
Company's management's expectation of increase in the Company's coal exports at the Ceke Port
of Entry. Forward-looking statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "could", "should", "seek", "likely",
"estimate" and other similar words or statements that certain events or conditions "may" or "will"
occur. Forward-looking statements are based on certain factors and assumptions including
factors that may cause actual results to differ materially from what the Company currently
expects. Actual results may vary from the forward-looking statements. Readers are cautioned not
to place undue importance on forward-looking statements, which speaks only as of the date of
this disclosure, and not to rely upon this information as of any other date. While the Company
may elect to, it is under no obligation and does not undertake to, update or revise any forward-
looking statements, whether as a result of new information, further events or otherwise at any
particular time, except as required by law. Additional information concerning factors that may
cause actual results to materially differ from those in such forward-looking statements is
contained in the Company's filings with Canadian securities regulatory authorities and can be
found under the Company's profile on SEDAR at www.sedar.com.
SOURCE: SouthGobi Resources Ltd.