Markets

SouthGobi Provides Update on Mongolian Independent Authority Against Corruption Investigation

SouthGobi Resources Ltd. (SGQ.TO) has received notification from the Mongolian Independent Authority Against Corruption (IAAC), that it has concluded its questioning of SouthGobi's Chief Legal Counsel Sarah Armstrong and that she is no longer a suspect in their investigations. The IAAC has informed the Company that she will shortly be able to leave the country.

The IAAC has also confirmed to SouthGobi that it is continuing with its investigation into historical licensing issues. The IAAC advised that it is investigating the divestment of certain SouthGobi licenses to third parties, and the involvement and conduct of government officials in connection with this.

SouthGobi continues to cooperate fully with the IAAC's investigation, and is satisfied that Sarah's interviews were carried out professionally, and that she was able to have her lawyer and interpreter present throughout.

Shares are up 2.8% to $1.975 early afternoon. Close to 10,500 shares have been traded.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More