Sharyn Gol JSC (MSE: SHG; Bloomberg code: SHG MO) Announces the Receipt of 2012 Audited IFRS Financial Statements from EY Mongolia
ULAANBAATAR, Mongolia, May 31, 2013 /PRNewswire/ -- Sharyn Gol (MSE: SHG; Bloomberg code: SHG MO) is pleased to announce that it has received unqualified 2012 and 2011 financial statements and an unqualified financial report for 2010 from Ernst & Young Mongolia Audit LLC ("EYM"). Sharyn Gol believes that it is the only company listed on the Mongolian Stock Exchange ("MSE") with a three-year history of unqualified financial results from a Mongolian affiliate of a Top 3 international auditor. Graham Chapman, CEO, said, "The unqualified financials validate Sharyn Gol's aim to present its results in an accurate and transparent manner consistent with international accounting standards."
Sharyn Gol is also pleased to announce the appointment of Kenneth Farrell to the board of directors. Kenneth Farrell is the CEO of Bumi Resources Minerals, the largest publicly traded Indonesian mineral company. Mr. Farrell is also an Executive Director of Bumi Resources, Indonesia's largest listed coal mining company. Prior to joining Bumi Resources in 2002, Mr. Farrell worked for BHP Billiton for 21 years in various executive and managerial capacities in iron ore, transport, manganese and coal business units. He is a Member of the Institution of Engineers, Australia; a Member of The Australasian Institute of Mining and Metallurgy and a Fellow of the Australian Institute of Company Directors.
Sharyn Gol, located north of Ulaanbaatar, Mongolia, is a leading producer of high-grade thermal coal and sells to state-owned power stations, local cement factories, and other major wholesale as well as retail consumers.
SOURCE Sharyn Gol JSC