SouthGobi’s Q3 Raw Coal Production Totals 1.13 Million Tonnes

SouthGobi Resources Ltd. (TSX:SQG,HKEX:1878) announced its financial and operating results for the three and nine months ended September 30, 2013, commenting that during the third quarter it produced 1.13 million tonnes of raw coal with a strip ratio of 1.39. During the same period, its revenue came in at $15.7 million, up from $3.8 million in the year-ago quarter.

As quoted in the press release:

Revenue increased primarily due to increased sales volumes and a higher average realized selling price. The Company sold 0.94 million tonnes of coal at an average realized selling price of $22.05 per tonne in the third quarter of 2013 compared to sales of 0.32 million tonnes of coal at an average realized selling price of $16.98 per tonne in the third quarter of 2012. Sales in the third quarter of 2013 primarily consisted of Standard semi-soft coking coal mined in 2013, whereas sales in the third quarter of 2012 primarily consisted of thermal coal from the Company’s stockpiles to satisfy existing sales contracts.

Click here to read the full SouthGobi Resources Ltd. (TSX:SQG,HKEX:1878) press release.