(A company continued under the laws of British Columbia, Canada with limited liability)
(Hong Kong Stock Code: 1878)
(TSX Venture Exchange Stock Symbol: SGQ)
POSITIVE PROFIT ALERT
This announcement is made by SouthGobi Resources Ltd. (the “Company”) pursuant to Rule 13.09(2)
of the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange and the Inside
Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the
Laws of Hong Kong).
The Company wishes to inform its shareholders and potential investors that, based on the Company’s
preliminary assessment of the unaudited management accounts for the year ended December 31,
2023 and the information currently available to the Company, it is expected that the Company would
record a net profit attributable to equity holders of the Company of approximately no more than US$1
million for the year ended December 31, 2023, as compared to a net loss attributable to equity holders
of the Company of approximately US$30 million for the year ended December 31, 2022. The
turnaround from net loss to expected net profit is primarily attributable to the increase in sales volume
and improvement in the Company’s average realized selling price of coal during the year ended
December 31, 2023.
As at the date of this announcement, the Company is still in the process of preparing and finalizing its annual results for the year ended December 31, 2023. The information contained in this announcement is based on the preliminary assessment of the information currently available to the
Company and the unaudited management accounts of the Group, which have not been audited by the Company’s auditors and may be subject to adjustments. Details of the Company’s financial
information and performance will be disclosed in the annual results announcement for the year ended December 31, 2023, which is to be published on March 28, 2024 (Thursday). see & read more on
https://media-southgobi.todayir.com/20240326192401451411115189_en.pdf