SouthGobi Resources ( (TSE:SGQ) ) has issued an announcement.
SouthGobi Resources Ltd. announced a significant increase in both revenue and net profit for the fiscal year 2024, with expected revenues between US$444.0 million and US$543.0 million and net profits between US$83.6 million and US$102.2 million. This growth is attributed to increased sales volume, diversification of coal product categories, and a favorable tax reassessment in Mongolia. However, a legal proceeding has been initiated by the Mongolian Tax Authority regarding the tax reassessment, which remains valid as of the announcement date. The company’s financial results for FY2024 are yet to be finalized and will be published on March 28, 2025.
More about SouthGobi Resources
SouthGobi Resources Ltd., listed on the Hong Kong Stock Exchange and the TSX Venture Exchange, operates the Ovoot Tolgoi coal mine in Mongolia and holds licenses for other coal deposits in the South Gobi region. The company produces and sells coal primarily to customers in China.
YTD Price Performance: -3.51%
Average Trading Volume: 9,302
Technical Sentiment Signal: Hold
Current Market Cap: C$163.2M
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