HONG KONG, CHINA--(Marketwire - Sept. 17, 2012) - SouthGobi Resources Ltd. (SGQ.TO)(1878.HK) ("SouthGobi") today announced the board has confirmed the nomination announced last week of Ross Tromans as President and Chief Executive Officer effective immediately. Deputy Chairman Sean Hinton will manage the transition on behalf of the Board over the next few weeks.
Mr. Tromans said "I am honored and excited to be named to lead SouthGobi Resources. We are confident in the long-term market and industry fundamentals for quality coking coal deposits in Mongolia such as our Ovoot Tolgoi operation. I look forward to working with the board and the management team as we focus on strengthening the company's core business performance and realizing Ovoot Tolgoi's production potential."
Mr. Alexander Molyneux tendered his resignation as director of the company effective September 17, 2012.
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, produces and sells 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.
- Investment & Company Information
SouthGobi Resources Ltd.
Investor Relations and External Affairs (Hong Kong)
+852 2156 7023