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SouthGobi Resources ( (TSE:SGQ) ) has shared an update.
SouthGobi Resources Ltd. announced that its Mongolian subsidiary, Southgobi Sands LLC, received a reduced tax penalty from the Tax Dispute Resolution Council, lowering the amount from approximately US$80.0 million to US$26.5 million. The company decided not to appeal this revised assessment, which will impact its financial statements for the year ending December 31, 2024, advising shareholders and potential investors to exercise caution when dealing in shares.
More about SouthGobi Resources
SouthGobi Resources Ltd. operates within the mining industry, primarily focusing on coal resources in Mongolia. The company is registered in British Columbia, Canada, and is listed on the Hong Kong Stock Exchange and TSX Venture Exchange.
YTD Price Performance: 7.02%
Average Trading Volume: 4,453
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$181M
Find detailed analytics on SGQ stock on TipRanks’ Stock Analysis page.
