SGQ SouthGobi Resources Ltd

Peter Meredith, Chief Executive Officer of SouthGobi Energy Resources Ltd. (TSX
VENTURE:SGQ), and Gene Wusaty, Chief Operating Officer, are pleased to provide
an update on the company's Mongolian coal operations.


Ovoot Tolgoi Fleet Expansion

The company has finalized an order for a new shovel / truck mining fleet
consisting of a Liebherr 996 hydraulic excavator (34 cubic metres) and four
Terex MT4400 (260-ton capacity) trucks for its Ovoot Tolgoi Mine. SouthGobi
expects to commission the new fleet in September 2009. The existing mine fleet
consists of a Liebherr 994 hydraulic excavator (13.5-cubic meter capacity) and
seven Terex TR100 (100-ton capacity) trucks.


"The addition of this new, larger fleet will increase our annualized coal mining
capacity at Ovoot Tolgoi from approximately two million tonnes to five million
tonnes once it is fully operational at the end of the year. It also will
significantly increase the flexibility in our mining operations," said Mr.
Wusaty. 


Shivee Khureen (Ceke) border crossing designated as a permanent border crossing
by the Mongolian and Chinese Governments


As previously reported on December 8, 2008, cross border coal truck traffic
inefficiencies and coal transportation bottlenecks have been a key area targeted
by SouthGobi's management for improvement. In July 2008, SouthGobi formally
requested the Mongolian government to convert the day-shift only temporary
Shivee Khuren (Ceke) border checkpoint to a permanent 24/7 status to maximize
coal exports. In January 2009, the border checkpoint was designated as a
permanent checkpoint operating five days per week / eight hours per day. In
March 2009, the border started operating seven days per week on an eight hour
dayshift basis. Based on ongoing developments, it is anticipated that the
permanent border designation will lead to the border operating 24/7 later this
year, relieving constraints on transborder shipments of Ovoot Tolgoi coal, which
totaled 115,000 tonnes in March. The forecast for April coal shipments is
approximately 150,000 tonnes.


"We are very pleased with the progress on the border checkpoint and await the
next step which will allow for accelerated deliveries of coal from Ovoot Tolgoi
to our customers in China," said Mr. Wusaty.


Mongolian Railway Study Commissioned

SouthGobi has commissioned a railway study for its Ovoot Tolgoi Mine with China
Railway First Survey and Design Institute Group Ltd. The study will be the basis
for discussions with the Mongolian Government to form a strategy to develop rail
infrastructure in the South Gobi region. SouthGobi intends to pursue the future
development of rail transportation from the Ovoot Tolgoi mining area to the
Chinese border, a distance of approximately 50 kilometres. Significant rail
capacity has been developed on the Chinese side of the border where a new
east/west railway is being completed later this year.


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 flag-ship coal mine, Ovoot Tolgoi, is
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, the increase
in annualized coal mining capacity at Ovoot Tolgoi from two million tones to
five million tones by the end of the year, the expanded opening of the
Mongolia/China border checkpoint at Ceke, the forecast for April coal shipments,
the Mongolian railway study, the delivery of the new mining fleet 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
year end Dec. 31, 2008, which is available at www.sedar.com.

Grafico Azioni SouthGobi Resources (TSXV:SGQ)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni SouthGobi Resources (TSXV:SGQ)
Storico
Da Lug 2023 a Lug 2024