SouthGobi Resources Announces Third Quarter 2011 Financial and Operating Results
SouthGobi Resources Ltd. (TSX:SGQ) announced its financial results for the nine months ended September 30, 2011.
As quoted in the press release:
For the three months ended September 30, 2011, the Company produced 1.25 million tonnes of raw coal with a strip ratio of 3.28 compared to production of 0.87 million tonnes of raw coal with a strip ratio of 4.74 for the three months ended June 30, 2011 and production of 0.57 million tonnes of raw coal with a strip ratio of 5.09 for the three months ended September 30, 2010. Mining capacity increased in the third quarter of 2011 compared to the third quarter of 2010 due to the commissioning of additional mining equipment. Mining activities also commenced in the Sunrise Pit during the third quarter of 2011.
Direct cash costs of product sold were $23.55 per tonne for the nine months ended September 30, 2011 compared to $21.22 per tonne for the same period in 2010. The increase in direct cash costs is due primarily to increased screening activities by the Company of its raw higher-ash coals and higher diesel prices in the second quarter of 2011.
The Company’s total assets at September 30, 2011 were $954.9 million compared with $961.9 million at December 31, 2010.
At September 30, 2011, the Company had $205.8 million in cash and cash equivalents and $55.0 million in money market investments for a total liquidity of $260.8 million compared with $492.0 million in cash and cash equivalents and $62.7 million in money market investments for a total liquidity of $554.7 million at December 31, 2010.The Company’s non-current liabilities at September 30, 2011 were $157.2 million compared with $252.5 million at December 31, 2010. The decrease in non-current liabilities primarily relates to the decrease in the fair value of the CIC convertible debenture.
Click here to read the SouthGobi Resources Ltd. (TSX:SGQ) press release
Click here to see the SouthGobi Resources Ltd. (TSX:SGQ) profile.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1801.89 | +0.36 | |
Silver | 20.82 | +0.02 | |
Copper | 3.68 | -0.03 | |
Palladium | 2224.19 | +14.20 | |
Platinum | 965.47 | +2.48 | |
Oil | 91.88 | -2.46 | |
Heating Oil | 3.51 | +0.03 | |
Natural Gas | 8.78 | -0.09 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured Industrial Metals Stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â