SouthGobi Resources Announces First Quarter 2011 Financial and Operating Results
Investing News Network - May 12th, 2011
SouthGobi Resources Ltd. (TSE:SGQ) reports its financial results for the three months ended March 31, 2011.
SouthGobi Resources Ltd. (TSX:SGQ) reports its financial results for the three months ended March 31, 2011.
The press release is quoted as saying:
In the three months ended March 31, 2011, the Company produced 1.11 million tonnes of raw coal with a strip ratio of 3.47 compared to production of 0.22 million tonnes with a strip ratio of 6.79 in the three months ended March 31, 2010. Production has increased 405% in the first quarter of 2011 compared to the first quarter of 2010, primarily due to expansion of the Company’s mining fleet throughout 2010.