SouthGobi Energy Resources Names Veteran Coal Industry Executive Gavin May as Chief Operating Officer
September 08 2009 - 8:15AM
Marketwired
Alexander Molyneux, President of SouthGobi Energy Resources Ltd.
(TSX VENTURE: SGQ), is pleased to announce the appointment of Gavin
May as the company's new Chief Operating Officer. Mr. May,
operating out of Hong Kong, will be responsible for managing the
company's coal mining and exploration operations in Mongolia and
Indonesia.
Mr. May has more than 25 years experience in the coal industry
and was the Chief Executive Officer and Managing Director of
Gloucester Coal Ltd. (an Australian Stock Exchange listed company
with a market value in excess of US$400 million) and its
predecessor company for six years until mid-2007. Mr. May's
extensive coal mining experience is uniquely varied and includes
project geology, coal handling and preparation, operational
planning and marketing. His most recent position was as a Director
of Noble Resources Australia Pty. Ltd. Mr. May is a qualified
geologist and holds a Bachelors Degree in Science (Geology Major)
from Macquarie University in Australia.
"We are very excited to have Gavin join our team," said Mr.
Molyneux. "It's not easy to attract executives of such a high
caliber and with such depth of experience at a senior level as
Gavin, which I believe serves as a testament to the potential our
projects represent."
Mr. May has been granted options to acquire 400,000 common
shares of the company at a price of $12.99 per share for a period
of seven years. The options were granted in accordance with the
company's equity incentive plan for employees and directors.
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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