SouthGobi Announces Positive Profit Alert

SouthGobi Resources Ltd. (TSX-V:SGQ)(HK:1878) has released a profit alert based on its preliminary assessment of unaudited management accounts for the first half of 2024. The company expects a net profit attributable to equity holders between USD 9.0 million and USD 11.0 million for the six months ended June 30, 2024. This marks a significant turnaround from the net loss of approximately USD 52.8 million during the same period in 2023.

This improved performance is attributed to increased sales volume and the absence of additional tax penalties encountered in 2023. SouthGobi remains in the process of finalizing its interim financial results, slated for disclosure on August 14, 2024. The information is based on unaudited accounts and may be subject to adjustments.

Shareholders and potential investors are advised to exercise caution when dealing with the company’s shares.