Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
An update from SouthGobi Resources ( (TSE:SGQ) ) is now available.
SouthGobi Resources Ltd. announced that its subsidiary, Southgobi Sands LLC, has received a court order from the Administrative Court of First Instance in Ulaanbaatar, Mongolia, dismissing a case brought by Mongolian tax officials. The case aimed to challenge a previous decision that reduced a tax penalty against the subsidiary from approximately US$80 million to US$26.5 million. The tax officials have filed an appeal, but as of now, the reassessment result remains legally valid. The company is closely monitoring the situation and will update its stakeholders as necessary.
More about SouthGobi Resources
SouthGobi Resources Ltd. is a company operating under the laws of British Columbia, Canada, with a focus on resource extraction. It is listed on the Hong Kong Stock Exchange and the TSX Venture Exchange, indicating its involvement in the mining sector, particularly in Mongolia.
Average Trading Volume: 604,927
Technical Sentiment Signal: Sell
Current Market Cap: HK$914M
Find detailed analytics on SGQ stock on TipRanks’ Stock Analysis page.