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SouthGobi Resources Ltd., together with its subsidiaries, operates as an integrated coal mining, development, and exploration company in Mongolia and China. The company primarily explores for coking and thermal coal. Its flagship project is the Ovoot Tolgoi open pit coal mine located in the Umnugobi Aimag of Mongolia. The company was formerly known as SouthGobi Energy Resources Ltd. and changed its name to SouthGobi Resources Ltd. in May 2010. SouthGobi Resources Ltd. is based in Kowloon, Hong Kong.
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SouthGobi Resources Ltd is a Mongolia-focused coal producer and explorer operating the Ovoot Tolgoi open-pit mine and other coal assets, selling thermal and coking coal into regional markets. Long-term growth drivers include Chinese steel demand for coking coal, potential resource expansion and logistics improvements at border crossings, which may support cash flow and scale.
Key risks are commodity price volatility and heavy reliance on Chinese demand, Mongolian regulatory and political uncertainty, cross-border logistics constraints and potential financing or operational execution issues.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -164.52M | 123.62M | 34.73M | -25.75M | -11.73M |
| Net income | -168.77M | 92.50M | 0.91M | -30.42M | -14.37M |
| Selling general administrative | 13.88M | 12.59M | 9.95M | 6.49M | 5.41M |
| Gross profit | 0.10M | 132.79M | 173.31M | 15.32M | 12.09M |
| Reconciled depreciation | 48.58M | 20.89M | 5.83M | 3.84M | 5.61M |
| Operating income | -23.53M | 153.68M | 69.71M | 7.77M | 3.56M |
| Interest expense | 37.18M | 37.40M | 46.47M | 39.73M | 36.45M |
| Tax provision | 4.24M | 31.12M | 33.82M | 4.67M | 2.64M |
| Interest income | 0.05M | 0.14M | 0.23M | 0.04M | 0.08M |
| Net interest income | -37.13M | -37.25M | -46.24M | -39.69M | -36.38M |
| Total revenue | 598.82M | 493.38M | 331.51M | 73.08M | 43.40M |
| Total operating expenses | 622.35M | 339.70M | 261.80M | 65.31M | 39.83M |
| Cost of revenue | 598.72M | 360.59M | 158.19M | 57.76M | 31.30M |
| Total other income expense net | -103.86M | 7.20M | 11.26M | 6.17M | 21.08M |
| Net income from continuing ops | -168.77M | 92.50M | 0.91M | -30.42M | -14.37M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 355.58M | 429.85M | 295.74M | 181.36M | 206.11M |
| Total liab | 582.81M | 479.70M | 437.07M | 323.88M | 296.56M |
| Total stockholder equity | -227.24M | -49.84M | -141.33M | -142.52M | -90.45M |
| Capital stock | 1102.05M | 1102.05M | 1101.77M | 1101.76M | 1098.84M |
| Retained earnings | -1317.99M | -1149.22M | -1241.68M | -1242.49M | -1212.07M |
| Cash | 12.38M | 8.59M | 47.99M | 9.26M | 0.72M |
| Total current liabilities | 448.67M | 381.81M | 334.17M | 232.16M | 97.83M |
| Net debt | 243.60M | 196.33M | 146.31M | 215.40M | 190.96M |
| Short long term debt | 140.33M | 120.65M | 103.15M | 140.78M | 0.05M |
| Total current assets | 111.71M | 153.68M | 115.36M | 47.49M | 55.30M |
| Long term investments | 36.98M | 32.61M | 23.26M | 14.52M | 15.67M |
| Net receivables | 19.71M | 25.42M | - | 0.00M | 0.00M |
| Long term debt | 115.65M | 84.27M | 91.15M | 83.87M | 191.63M |
| Inventory | 68.60M | 107.25M | 52.93M | 34.83M | 51.61M |
| Accounts payable | 182.53M | 114.06M | 43.70M | 37.19M | 45.25M |
| Non current assets total | 243.87M | 276.17M | 180.38M | 133.86M | 150.81M |
| Capital lease obligations | 1.71M | 2.19M | 2.99M | 0.50M | 0.88M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | - | -49.94M | -13.04M | -8.64M |
| Net borrowings | 32.06M | -0.72M | - | - | - |
| Total cash from financing activities | 25.82M | -23.82M | -72.59M | -1.43M | -6.01M |
| Net income | -168.77M | 92.50M | 0.91M | -30.42M | -14.37M |
| Change in cash | 3.79M | -39.40M | 38.74M | 8.53M | -19.40M |
| Begin period cash flow | 8.59M | 47.99M | 9.26M | 0.72M | 20.12M |
| End period cash flow | 12.38M | 8.59M | 47.99M | 9.26M | 0.72M |
| Total cash from operating activities | 51.42M | 107.92M | 160.84M | 26.14M | -4.33M |
| Issuance of capital stock | - | - | - | 0.03M | 0.01M |
| Depreciation | - | - | - | 3.84M | 5.61M |
| Dividends paid | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change to inventory | -25.40M | -53.35M | -5.02M | 15.05M | -11.14M |
| Capital expenditures | 73.14M | 118.62M | 44.52M | 11.88M | 10.46M |
| Change in working capital | 57.64M | 5.32M | 13.38M | 15.17M | -11.99M |
| Stock based compensation | 0.00M | 0.06M | 0.01M | 0.16M | 0.20M |
| Other non cash items | 29.63M | 34.44M | 41.56M | 35.08M | 33.29M |
| Free cash flow | -21.71M | -10.70M | 116.31M | 14.26M | -14.78M |
Sector: Energy Industry: Thermal Coal
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| SGQ SouthGobi Resources Ltd |
- -% |
0.33 | - | 128.21 | 0.23 | 11.16 | 0.56 | 2.95 |
| MOX Morien Resources Corp |
-0.02 7.41% |
0.25 | - | - | 550.77 | 9.55 | 462.11 | -41.41 |
| SML Southstone Minerals Ltd |
- -% |
0.04 | - | - | 1.14 | - | 3.65 | -3.02 |
SouthGobi Resources Ltd., together with its subsidiaries, operates as an integrated coal mining, development, and exploration company in Mongolia and China. The company primarily explores for coking and thermal coal. Its flagship project is the Ovoot Tolgoi open pit coal mine located in the Umnugobi Aimag of Mongolia. The company was formerly known as SouthGobi Energy Resources Ltd. and changed its name to SouthGobi Resources Ltd. in May 2010. SouthGobi Resources Ltd. is based in Kowloon, Hong Kong.
| Name | Title | Year Born |
|---|---|---|
| Mr. Ruibin Xu | CEO & Executive Director | 1971 |
| Ms. Chonglin Zhu | CFO & Executive Director | 1987 |
| Mr. Chen Shen | VP of Legal & Executive Director | 1989 |
| Mr. Munkhbat Chuluun | Vice President of Public Relations | 1960 |
| Ms. Allison Snetsinger | Corporate Secretary | 1969 |
| Ms. Shuk Wan So | Company Secretary | 1987 |
| Mr. Jonathan Kaetzel | Senior Maintenance Advisor of SGQ Sands | NA |
| Ms. Shuk Wan So | Company Secretary | 1988 |
| Mr. Ruibin Xu | CEO & Executive Director | 1972 |
| Ms. Allison Snetsinger | Corporate Secretary | 1970 |
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