Brief: Southgobi Announces Profit Warning And Business Update

SouthGobi Resources

27/10/2021 24:57

Oct 26 (Reuters) - SouthGobi Resources Ltd  SGQ.TO :
    * SOUTHGOBI ANNOUNCES PROFIT WARNING AND BUSINESS UPDATE
    * EXPECTED THAT COMPANY WOULD RECORD A NET LOSS BETWEEN USD
7
MILLION AND USD11 MILLION FOR QUARTER ENDED 30 SEPTEMBER 2021
    * EXPECTED NET LOSS IS PRIMARILY ATTRIBUTABLE TO CONTINUED
IMPACT
CAUSED BY COVID-19 PANDEMIC
    * COMPANY IS STILL PREPARING AND FINALIZING ITS QUARTERLY
RESULTS
FOR QUARTER ENDED 30 SEPTEMBER 2021
    * COMPANY'S COAL EXPORTS INTO CHINA HAVE BEEN SUSPENDED
    * SOUTHGOBI-  EXPECTED NET LOSS PRIMARILY DUE TO,
RESTRICTIONS ON
NUMBER OF TRUCKS OF COAL CROSSING BORDER AT CEKE PORT OF ENTRY
DURING Q3
    * STATUS OF BORDER CLOSURE AND WILL MAKE FURTHER
ANNOUNCEMENT(S)
AS AND WHEN APPROPRIATE
    * ANTICIPATES TEMPORARY CLOSURE OF CEKE PORT OF ENTRY WILL
HAVE AN
ADVERSE IMPACT ON COMPANY'S SALES AND CASH FLOW.

Source text for Eikon:  ID:nGNX2R1c4N 
Further company coverage:  SGQ.TO 

 ((Reuters.Briefs@thomsonreuters.com;))