* Q1 rev $13.9 mln vs $3.5 mln yr-ago
May 14 (Reuters) - Canadian coal miner SouthGobi Energy Resources Ltd’s (1878.HK) (SGQ.TO) first-quarter loss widened as the company lost millions in China Investment Corp [CIC.UL] convertible debentures and derivatives.
The company said it lost $162.3 million due to a partial conversion of the China Investment Corp convertible debenture, the interest expense on the debenture and the fair value change of the embedded derivatives in the debenture.
SouthGobi, which launched an IPO in Hong Kong in January, posted a net loss of $168.3 million, or $1.09 a share, compared with $10.0 million, or 8 cents a share, a year ago.
However, revenue soared to $13.9 million from $3.5 million last year on the back of higher coal shipments and better prices.
The company said it shipped about 0.43 million tons of coal at $36 a ton, compared with 0.13 million tons at $29 a ton last year.
The company also said it expects higher demand for its coal from China.
Shares of the company closed at C$11.50 Friday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Roshni Menon) (email@example.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: firstname.lastname@example.org))