SouthGobi Resources (TSE:SGQ) has released an update.
SouthGobi Resources Ltd. has issued a positive profit alert, expecting a net profit of USD 9.0 to 11.0 million for the first half of 2024, a significant improvement compared to a net loss of USD 52.8 million in the same period last year. The anticipated turnaround is mainly attributed to an increase in sales volume and the impact of an additional tax and tax penalty recorded in the previous year. Investors are advised to exercise caution as these preliminary figures based on unaudited management accounts are subject to change and will be finalized in the interim results announcement on August 14, 2024.
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