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SouthGobi Resources ( (TSE:SGQ) ) has shared an update.
SouthGobi Resources Ltd. has received a notice from the Mongolian government inviting its subsidiary, Southgobi Sands LLC, to negotiate the state’s ownership interest in the company’s mining licenses. These licenses have been designated as Mineral Deposits of Strategic Importance, and the company is engaging in discussions with the government to determine the terms of state participation or potential royalty interests. The outcome of these negotiations could significantly impact the company’s operations and its strategic positioning in Mongolia.
More about SouthGobi Resources
SouthGobi Resources Ltd. is a company operating under the laws of British Columbia, Canada, with a focus on coal mining. It operates primarily in Mongolia, where it holds several mining licenses, including those for the Ovoot Tolgoi Mine and the Soumber Deposit.
Average Trading Volume: 583,914
Technical Sentiment Signal: Sell
Current Market Cap: HK$983.9M
See more insights into SGQ stock on TipRanks’ Stock Analysis page.