May 12 (Reuters) - Southgobi Resources Ltd SGQ.TO
* Southgobi resources announces first quarter 2017 financial and operating results
* Q1 revenue $25.3 million versus $12.7 million
* Qtrly loss per share $0.04
* Southgobi resources ltd - sold 1.11 million tonnes of coal product during q1 of 2017 as compared to 0.88 million tonnes
* Southgobi resources - initiated a plan to change existing product mix to higher value,higher margin outputs by washing certain grades of coal commencing in h2 2017
* Southgobi resources-due to improved market conditions and prices for coal in china, co's q1 results improved with increase in average selling price of coal
* Southgobi resources - unless co acquires additional sources of financing and/or funding in short term, ability of co to continue as going concern is threatened
* Southgobi resources ltd - company has also completed a new mine plan
* Southgobi resources - entered an agreement for finance lease on new wash plant facility, will need financing to complete thermal coal processing facilities
* Southgobi resources - unless co, acquires additional sources of financing,funding in short term, ability of co to continue as going concern is threatened
* Southgobi resources-if co is unable to continue as going concern, it may be forced to seek relief under applicable bankruptcy and insolvency legislation
* Southgobi - plans will involve need for "significant" level of stripping activities over next 2 years & require certain capex to achieve designed production outputs Source text for Eikon: ID:nCCN1vtGLF Further company coverage: SGQ.TO