BUZZ-Turquoise Hill Resources Ltd: To sell remaining stake in SouthGobi

Tue Feb 24, 2015 1:01pm EST
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** Canadian miner's U.S.-listed shares up 6 pct at $3.15; Toronto-listed shares up 5.9 pct at C$3.97

** Company to sell remaining stake in SouthGobi Resources Ltd to Novel Sunrise Investments Ltd for about C$17 mln

** Turquoise to sell 48.7 mln shares in SouthGobi for 35 Canadian cents per share in cash

** Turquoise had 47.91 pct stake in SouthGobi as of Dec. 2 - Thomson Reuters data

** Company said in July last year that it would sell 29.95 pct stake in SouthGobi to National United Resource Holdings Ltd

** Up to Monday's close, Turquoise's U.S.-listed stock had fallen 19 pct in past 12 months, while Toronto-listed stock had declined 7 pct