[ET Net News Agency, 8 February 2013] SouthGobi Resources (01878) said the Mongolian
Independent Authority Against Corruption (IAAC) has informed its wholly owned subsidiary
SouthGobi Sands LLC (SGS) that orders placing administrative restrictions on certain of
its Mongolian assets, including local bank accounts have been imposed in connection with
its continuing investigation.
While the orders restrict the use of in-country funds pending the outcome of the
investigation, they are not expected to have any material impact on SouthGobi's
activities.
Neither SouthGobi nor any of its employees have been charged with any wrongdoing.
SouthGobi is investigating the issues that have been raised and continues to cooperate
with the Mongolian government agencies, including the IAAC, in their ongoing
investigations.
Besides, SouthGobi notes that a Pre-Mining Agreement for License 9443X was approved and
signed by SGS on 18 January 2013. The license is an area which complements SouthGobi's
existing mining license for the Soumber Deposit. (HL)
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01878 SOUTHGOBI
Nominal 
5.830 -0.100 (-1.686%) Others
08/02/2013 10:31
SouthGobi says restrictions placed on Mongolian assets
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