Fox News / Dow Jones Newswires: SouthGobi Falls 13% on Possible Mining Suspension, Auditor Quits

Shares of SouthGobi Resources Ltd. fell as much as 13% Tuesday after the firm replaced its auditor Tuesday and the Mongolian coal miner said late Monday the local government is seeking a temporary halt to mining licenses for its flagship Ovoot Tolgoi coal mine. Takeover target SouthGobi Resources, which produces coking coal and thermal coal and is listed in Hong Kong and Toronto, said in a statement Tuesday that Deloitte & Touche LLP has resigned as auditor of the Mongolian coal miner “on its own initiative” and that PricewaterhouseCoopers LLP has replaced it. Both events were effective April 2, it said. To read the full article, click hereSouthGobi Falls 13% on Possible Mining Suspension, Auditor Quits

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