SouthGobi Energy Resources: 2009 Financial Results

SouthGobi Energy Resources Ltd. (TSX:SGQ)(PINK SHEETS:SGQRF)(SEHK:1878), reported its financial results for the year ended December 31, 2009.

The press release is quoted as saying:

Its key highlights are : The Company sold approximately 1,330,000 tonnes of coal from the Ovoot Tolgoi mine in southern Mongolia in 2009. Initial National Instrument 43-101 compliant coal resources established for Soumber, a new deposit located approximately 20 kilometers to the east of Ovoot Tolgoi. In December 2009, SouthGobi listed on the main board of the Toronto Stock Exchange. In January 2010, SouthGobi completed a global equity offering of 27 million common shares at a price of Cdn$17.00 per share for gross proceeds of Cdn$459 million.

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