Restatement shows SouthGobi did better in first half 2013 than first reported

VANCOUVER – SouthGobi Resources Ltd. (TSX:SGQ) is restating its financial reports for the first half of 2013 and the previous three years back to 2010. In brief, the restatements show the mining company’s loss in the first six months of this year was slightly smaller than reported in August. For the six months ended June 30, SouthGobi’s net loss was $56.8 million or 31 cents per share, a penny less than previously reported. The coal company’s revenue was significantly higher than previously reported at $10.5 million, or $6.9 million higher than initially reported.