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Share Name | Share Symbol | Market | Type |
---|---|---|---|
SouthGobi Resources Ltd (PK) | USOTC:SGQRF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.4754 | 0.0014 | 0.4754 | 0.00 | 21:00:01 |
BEIJING--SouthGobi Resources Ltd. (1878.HK) Chief Executive Alex Molyneux said Tuesday Aluminum Corp. of China Ltd. (ACH), also known as Chalco, isn't likely to pursue a bid for the Mongolia coal mining company.
Ulan Bator has also not moved to set regulatory procedures in motion for the bid and Chalco has not recently approached SouthGobi to carry on working on the deal, Mr. Molyneux told Dow Jones Newswires by telephone.
"We've had no contact from Chalco for more than a month, and that doesn't seem to me like something that would be part of a process for putting together a circular for a bid," Mr. Molyneux said.
"It's not like Mongolia is publicly saying it, but it's not putting a framework in place to get this approved," he said.
Chalco, whose spokesman didn't respond to calls for comment, earlier this month said it will have until Sep. 4 to make a more than $920 million offer to acquire a controlling stake in SouthGobi from Ivanhoe Mines Ltd. (IVN.T).
Write to Chuin-Wei Yap at chuin-wei.yap@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year SouthGobi Resources (PK) Chart |
1 Month SouthGobi Resources (PK) Chart |
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