SouthGobi Announces Small business Update
VANCOUVER, British Columbia, June 06, 2021 (World NEWSWIRE) — SouthGobi Assets Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi” or the “Enterprise”) hereby announces a voluntary organization update. The reason of this announcement is to notify the Company’s shareholders (“Shareholders”) and prospective investors of the most current company advancement of the Business.
In light of the resurgence of COVID-19 pandemic in Mongolia, there has been extra precautionary measures imposed by the Chinese authorities at the Ceke Port of Entry, which includes but not confined to, limiting the number of vehicles for border crossing. This is anticipated to have an adverse effect on the quantity of coal exports from Mongolia and may possibly negatively effect the product sales and dollars stream of the Business. In purchase to maintain its doing the job money, the Company’s administration has modified its generation to control the inventory degree accordingly. As a final result, the functioning results of the Firm for the next quarter of 2021 may be adversely impacted.
Despite the fact that the export of coal from Mongolia to China carries on as of the day hereof, there can be no guarantee that the Company will be ready to continue exporting coal to China, or that the border crossings would not be matter to closures as a end result of COVID-19 or any variants thereof in the long run. The Company will continue to intently check the development of the COVID-19 pandemic and the influence on coal exports to China. The Corporation will make even more announcements as and when correct.
SHAREHOLDERS AND Opportunity Traders OF THE Business Really should Physical exercise Caution WHEN THEY Offer OR Contemplate Working IN THE COMPANY’S SHARES OR OTHER SECURITIES OF THE Enterprise.
About SouthGobi
SouthGobi, shown on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also retains the mining licences of its other metallurgical and thermal coal deposits in South Gobi area of Mongolia. SouthGobi creates and sells coal to consumers in China.
Make contact with:
Investor Relations
Office: +852 2156 1438 (Hong Kong)
+1 604 762 6783 (Canada)
E-mail: [email protected]
Website: www.southgobi.com