SouthGobi Energy Resources Names Senior Asia Mining Investment Banker Alexander Molyneux as President to Lead the Expansion of S
10 Febbraio 2009 - 2:30PM
Marketwired
Peter Meredith, Chief Executive Officer of SouthGobi Energy
Resources Ltd. (TSX VENTURE: SGQ), is pleased to announce the
appointment of Alexander Molyneux as the company's new President,
effective April 27, 2009. Mr. Molyneux, based in Hong Kong, will be
responsible for business and corporate development initiatives. Mr.
Molyneux most recently was Managing Director, Head of Metals &
Mining Investment Banking, Asia Pacific, with Citigroup.
Mr. Molyneux has spent approximately 12 years providing advice
and investment-banking services to mining, metals and industrial
corporations. He joined Citigroup from UBS in early-2007 as Head of
Metals & Mining Investment Banking and rapidly established Citi
as a leading metals and mining investment banking business in Asia.
Mr. Molyneux has been working with Asia-based clients since 2002.
He has raised more than US$20 billion of capital for clients and
advised on many significant merger and acquisition transactions in
the metals and mining sector. Mr. Molyneux holds a Bachelors degree
in Economics from Monash University in Australia.
"We are very pleased to have Alexander join SouthGobi's
management team," said Mr. Meredith. "His extensive international
experience in the mining industry, especially in Asia, makes him a
true asset to the company as we move forward to expand our
coal-mining projects in Mongolia and Indonesia."
Mr. Molyneux has been granted options to acquire 625,000 common
shares of the company at a price of $7.94 per share for a period of
seven years. The options were granted in accordance with the
company's equity incentive plan for employees and directors.
About SouthGobi Energy Resources
SouthGobi Energy Resources is focused on exploration and
development of its Permian-age metallurgical and thermal coal
deposits in Mongolia's South Gobi Region and its Eocene-age
metallurgical and thermal coal deposits in East Kalimantan,
Indonesia. The company's flagship coal mine, Ovoot Tolgoi, is in
production and selling coal to customers in China. The company
plans to supply a wide range of coal products and electricity to
markets in Asia. The company also is investigating the
implementation of clean-coal technologies in the development of
coal power-generating capacity to benefit all of its
stakeholders.
Forward-Looking Statements: This document includes
forward-looking statements. Forward-looking statements include, but
are not limited to, the company's future ability to supply coal
products and electricity to markets in Asia, and other statements
that are not historical facts. When used in this document, the
words such as "could", "plan", "estimate", "expect", "intend",
"may", "potential", "should", and similar expressions are
forward-looking statements. Although SouthGobi Energy Resources
believe that the expectations reflected in these forward-looking
statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statements. Important
factors that could cause actual results to differ from these
forward-looking statements are disclosed under the heading "Risk
Factors" in SouthGobi Energy's Management's Discussion and Analysis
of Financial Condition and Results of Operations for the nine
months ended September 30, 2008, and its Annual Information Form
dated March 28, 2008 which is available at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: SouthGobi Energy Resources Ltd. Steven Feldman
Investors (604) 681-6799 SouthGobi Energy Resources Ltd. Bob
Williamson Media (604) 681-6799 Website: www.southgobi.com
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