SouthGobi Resources: A Year of Significant Growth
Vancouver, BC – SouthGobi Resources Ltd. (“SouthGobi” or the “Company”), a leading mining company based in Mongolia, recently announced its preliminary financial results for the year ended December 31, 2024 (“FY2024”). The Company’s unaudited management accounts indicate a promising year of growth, with revenue and net profit attributable to equity holders projected to increase significantly compared to the previous year.
Revenue Growth
SouthGobi anticipates recording a revenue within the range of US$444.0 million to US$543.0 million for FY2024. This represents a substantial increase from the revenue of approximately US$331.5 million reported for the corresponding period in 2023. The growth can be attributed to several factors, including increased production volumes, higher selling prices for coal, and the successful execution of new contracts.
Net Profit Growth
The Company also expects to report a net profit attributable to equity holders between approximately US$83.6 million and US$102.2 million for FY2024. This represents a significant improvement from the net profit attributable to equity holders of approximately US$0.9 million reported for the same period in 2023. The net profit growth can be attributed to the revenue growth and improved operational efficiencies.
Impact on Shareholders and Investors
SouthGobi’s strong financial performance is expected to have a positive impact on its shareholders and potential investors. The Company’s robust revenue and net profit growth demonstrate its ability to generate value for its stakeholders and position itself for future growth opportunities.
Impact on the World
SouthGobi’s growth is also expected to have a broader impact on the global mining industry and the communities it serves. The increased production volumes and revenue will contribute to the Mongolian economy, creating jobs and generating tax revenues. Additionally, the Company’s commitment to sustainable mining practices and community engagement will help to mitigate potential negative impacts on the environment and local communities.
Conclusion
SouthGobi Resources’ preliminary financial results for FY2024 indicate a year of significant growth for the Company. The projected revenue and net profit attributable to equity holders represent substantial improvements from the previous year, driven by increased production volumes, higher selling prices, and improved operational efficiencies. This growth is expected to have a positive impact on SouthGobi’s shareholders and potential investors, as well as the global mining industry and the communities it serves.
- SouthGobi Resources anticipates recording revenue between US$444.0 million and US$543.0 million for FY2024
- Net profit attributable to equity holders projected to be between US$83.6 million and US$102.2 million for FY2024
- Growth attributed to increased production volumes, higher selling prices, and improved operational efficiencies
- Positive impact on SouthGobi’s shareholders and potential investors
- Contribution to Mongolian economy, creating jobs and generating tax revenues
- Commitment to sustainable mining practices and community engagement
As we look forward to the official release of SouthGobi’s audited financial statements, it’s clear that the Company is well-positioned for continued growth and success in the years ahead.
Stay tuned for more updates and insights from SouthGobi and the mining industry!
