Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

BRIEF-SouthGobi Resources provides update to TSX delisting review and financing initiatives

Published 2015-10-05, 07:41 a/m
© Reuters.  BRIEF-SouthGobi Resources provides update to TSX delisting review and financing initiatives
SGQ
-

Oct 5 (Reuters) - SouthGobi Resources Ltd SGQ.TO :
* Announces update to TSX delisting review and financing initiatives
* Is in process of finalizing a US$10 million bridge loan agreement with an
Asian based private equity fund
* Says currently in the process of negotiating sales contracts for the fourth
quarter of 2015
* Expects sales will ramp up in the fourth quarter to meet the high seasonal
demand of coal in the winter season in China
* Currently in discussions with Turquoise Hill Resources to further postpone
repayment of shareholder loan and other payables
* Loan to be funded in 2 equal tranches, with 1st tranche expected to close by
mid-October 2015,2nd tranche to close by end of October 2015

Source text for Eikon ID:nMKWVxQf2a
Further company coverage SGQ.TO

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.