SouthGobi Resources Limited
TSX : SGQ
HKSE : 1878

SouthGobi Resources Limited

July 03, 2012 09:08 ET

SouthGobi Resources Notified Ivanhoe Mines and Aluminum Corporation of China Limited (Chalco) Agree to Extend Time for Proportional Takeover Bid for SouthGobi Resources

HONG KONG, CHINA--(Marketwire - July 3, 2012) - SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) ("SouthGobi") was notified today that Ivanhoe Mines and Chalco have agreed to extend by thirty days the time for Chalco to make a proportional takeover bid for up to 60%, but not less than 56% of the common shares of SouthGobi. The press release issued by Ivanhoe Mines and Chalco regarding the extension is available on www.sedar.com.

About SouthGobi Resources

SouthGobi Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia's South Gobi Region. The company's flagship coal mine, Ovoot Tolgoi, is producing and selling coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.

Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, plans to supply a wide range of coal products to markets in Asia; and other statements that are not historical facts. When used in this document, the words such as "plan," "estimate," "expect," "intend," "may," "likely" and similar expressions are forward-looking statements. Although SouthGobi believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk Factors" in SouthGobi's Management Discussion and Analysis of Financial Condition and Results of Operations for the year ended Dec. 31, 2011 which is available at www.sedar.com.

Contact Information

  • SouthGobi Resources Limited
    Dave Bartel, Vice President Investor Relations and
    External Affairs (Hong Kong)
    +852 2156 7023
    www.southgobi.com