South Gobi Announces First Quarter Financial Results

SouthGobi Resources Ltd. (TSX:SGQ) announced its first quarter 2012 financial results on a conference call and audio webcast. The Company reported that direct cash costs have decreased.

As quoted in the press release:

• Record first quarter coal sales of 0.84 million tonnes (increase of 84% from the first quarter of 2011);
• Record first quarter revenue of $40.2 million (increase of 99% from the first quarter of 2011);
• Record quarterly average selling price of $56.79 per tonne (increase of 13% from the first quarter of 2011); 

Click here to read the SouthGobi Resources Ltd. (TSX:SGQ) press release