Mongolia Energy Corporation issues profit warning: "Mongolia Energy Corporation Limited board informed the shareholders of the company and potential investors that based on the information currently available it is expected that the Group may record a significant gross loss for the financial year ending March 31st 2013 as compared with the audited results in 2012 on the same basis.
It said “This profit warning announcement is only based on the preliminary review on the currently available information and the management accounts of the company which have not been confirmed nor audited by the company's independent auditor. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the company.”
It added “Based on the preliminary review on the management accounts of the Company the gross loss will among others, be attributable to the temporary halt of commercial coking coal production since last September due to the retreat of Leighton as mine contractor of our Khushuut Coal Mine and the technical issues in operation facing by the Group.”"
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