SouthGobi Energy Resources Announces a Change to Management
2009年8月1日 - 12:20AM
Marketwired
Peter Meredith, CEO of SouthGobi Energy Resources Ltd. (TSX
VENTURE: SGQ), today announced the resignation of Gene Wusaty as
the company's Chief Operating Officer. Mr. Wusaty is leaving
SouthGobi to pursue other business opportunities.
"We thank Gene for his valued contribution in establishing Ovoot
Tolgoi as a key operating project and for building the foundation
for anticipated similar success for SouthGobi's Mamahak coal
project in Indonesia," said Mr. Meredith.
Mr. Wusaty has been with SouthGobi and its predecessor, the Coal
Division of Ivanhoe Mines, for approximately four years. During
that time, he played a key role in SouthGobi's successful coal
exploration programs and in the development of its flagship Ovoot
Tolgoi coal mine in southern Mongolia, which is now selling coal to
customers in China.
The company has retained an executive search firm and is in an
advanced stage with respect to sourcing a new COO.
Mr. Meredith further added, "Gene's successor will be focused on
utilizing SouthGobi's strong operating teams in Mongolia and
Indonesia to take our coal businesses to their next stages of
development."
About SouthGobi Energy Resources
SouthGobi Energy Resources is focused on exploration and
development of its Permian-age metallurgical and thermal coal
deposits in Mongolia's South Gobi Region and its Eocene-age
metallurgical and thermal coal deposits in East Kalimantan,
Indonesia. The company's flagship coal mine, Ovoot Tolgoi, is
selling coal to customers in China. The company plans to supply a
wide range of coal products and electricity to markets in Asia.
Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) is SouthGobi
Energy Resources' largest shareholder, currently owning, directly
and indirectly, approximately 80% of the issued and outstanding
shares.
Forward-Looking Statements: This document includes
forward-looking statements. Forward-looking statements include, but
are not limited to, the company's future ability to supply coal
products and electricity to markets in Asia, and other statements
that are not historical facts. When used in this document, the
words such as "could," "plan," "estimate," "expect," "intend,"
"may," "potential," "should," and similar expressions are
forward-looking statements. Although SouthGobi Energy Resources
believe that the expectations reflected in these forward-looking
statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statements. Important
factors that could cause actual results to differ from these
forward-looking statements are disclosed under the heading "Risk
Factors" in SouthGobi Energy's Management's Discussion and Analysis
of Financial Condition and Results of Operations for the year end
Dec. 31, 2008, which is available at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: SouthGobi Energy Resources Ltd. Steven Feldman
Investors 1 604-681-6799 SouthGobi Energy Resources Ltd. Bob
Williamson Media 1 604-681-6799 www.southgobi.com
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