SouthGobi Resources Faces $80M Tax Penalty

SouthGobi Resources (HK:1878) has released an update.

SouthGobi Resources Ltd. has received a revised tax penalty notice of approximately $80 million from the Mongolian Tax Authority, following a tax audit. The company’s subsidiary, Southgobi Sands LLC, is considering an appeal within the 30-day time frame allowed. Shareholders are advised to exercise caution; further updates will be provided as the situation develops.

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