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Entrée Resources Welcomes Announcement of Updated Funding Plan to Complete Oyu Tolgoi Underground Construction

Retrieved on: 
Friday, April 9, 2021

(TSX: ETG) (OTCQB: ERLFF) the "Company"or "Entre")reports that on April 9, 2021, Turquoise Hill Resources Ltd. ("Turquoise Hill"), announced they have reached a binding agreement ("Heads of Agreement") with Rio Tinto on a funding plan to complete the construction of Lift 1 of the Oyu Tolgoi underground project ("Oyu Tolgoi") in Mongolia.

Key Points: 
  • (TSX: ETG) (OTCQB: ERLFF) the "Company"or "Entre")reports that on April 9, 2021, Turquoise Hill Resources Ltd. ("Turquoise Hill"), announced they have reached a binding agreement ("Heads of Agreement") with Rio Tinto on a funding plan to complete the construction of Lift 1 of the Oyu Tolgoi underground project ("Oyu Tolgoi") in Mongolia.
  • The Hugo North Extension deposit on the Entre/Oyu Tolgoi JV Property is an integral part of the Lift 1 mine plan.
  • Stephen Scott, Entre's President & CEO commented, "This is great news for all Oyu Tolgoi project stakeholders, including Entre.
  • Ensuring remaining necessary capital funding is in place eliminates a key Oyu Tolgoi underground project execution risk.

Oyu Tolgoi declares force majeure due to delayed copper concentrate shipments to Chinese customers

Retrieved on: 
Tuesday, March 30, 2021

MONTREAL, March 30, 2021 /PRNewswire/ - Turquoise Hill Resources Ltd. ("Turquoise Hill" of the "Company") today announced that Oyu Tolgoi LLC ("Oyu Tolgoi") has declared force majeure in connection with customer contracts for concentrate as a result of Oyu Tolgoi shipments of concentrate to its Chinese customers being suspended due to COVID-19 health and safety precautions related to Chinese-Mongolian border crossings.

Key Points: 
  • MONTREAL, March 30, 2021 /PRNewswire/ - Turquoise Hill Resources Ltd. ("Turquoise Hill" of the "Company") today announced that Oyu Tolgoi LLC ("Oyu Tolgoi") has declared force majeure in connection with customer contracts for concentrate as a result of Oyu Tolgoi shipments of concentrate to its Chinese customers being suspended due to COVID-19 health and safety precautions related to Chinese-Mongolian border crossings.
  • Oyu Tolgoi continues to support the Government of Mongolia's efforts to work with Chinese officials to resume the shipments of copper concentrate to its Chinese customers as soon as possible.
  • Furthermore, ongoing travel restrictions have had implications related to people movement from Ulaanbaatar to site and Oyu Tolgoi is therefore developing contingency plans to mitigate any associated risks.
  • Additionally, although Oyu Tolgoi has achieved commercial production, there is no assurance that future development activities will result in profitable mining operations.

DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Turquoise Hill Resources Ltd. and Encourages Investors to Contact the Firm

Retrieved on: 
Saturday, December 12, 2020

Investors have until December 14, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Key Points: 
  • Investors have until December 14, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
  • Turquoise Hills subsidiary, Oyu Tolgoi LLC, holds a 66% interest in Oyu Tolgoi, and the remainder is held by the Government of Mongolia.
  • Through their subsidiaries, Rio Tinto owns 50.8% of Turquoise Hill.
  • The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country.

DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Turquoise Hill Resources Ltd. and Encourages Investors to Contact the Firm

Retrieved on: 
Wednesday, December 9, 2020

Investors have until December 14, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Key Points: 
  • Investors have until December 14, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
  • Turquoise Hills subsidiary, Oyu Tolgoi LLC, holds a 66% interest in Oyu Tolgoi, and the remainder is held by the Government of Mongolia.
  • Through their subsidiaries, Rio Tinto owns 50.8% of Turquoise Hill.
  • The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country.

TURQUOISE HILL ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Turquoise Hill Resources Ltd. and Encourages Investors to Contact the Firm

Retrieved on: 
Tuesday, October 20, 2020

Investors have until December 14, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Key Points: 
  • Investors have until December 14, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
  • Turquoise Hills subsidiary, Oyu Tolgoi LLC, holds a 66% interest in Oyu Tolgoi, and the remainder is held by the Government of Mongolia.
  • Through their subsidiaries, Rio Tinto owns 50.8% of Turquoise Hill.
  • The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country.

Turquoise Hill's Oyu Tolgoi Awarded the Copper Mark for its Responsible Production

Retrieved on: 
Tuesday, October 13, 2020

MONTREAL, Oct. 13, 2020 /PRNewswire/ - Turquoise Hill Resources Ltd. ("Turquoise Hill" or the "Company") today announced that Oyu Tolgoi LLC ("Oyu Tolgoi") has been awarded the Copper Mark, the copper industry's new independently assessed responsible production program.

Key Points: 
  • MONTREAL, Oct. 13, 2020 /PRNewswire/ - Turquoise Hill Resources Ltd. ("Turquoise Hill" or the "Company") today announced that Oyu Tolgoi LLC ("Oyu Tolgoi") has been awarded the Copper Mark, the copper industry's new independently assessed responsible production program.
  • The Copper Mark is the first and only program for responsible production in the copper industry.
  • "At Turquoise Hill, we are fully committed to responsible production and transparency at Oyu Tolgoi," said Ulf Quellmann, Chief Executive Officer of Turquoise Hill Resources.
  • Turquoise Hill's ownership of the Oyu Tolgoi mine is held through a 66% interest in Oyu Tolgoi LLC (Oyu Tolgoi); Erdenes Oyu Tolgoi LLC (Erdenes), a Mongolian state-owned entity, holds the remaining 34%interest.

Entrée Resources welcomes completion of 2020 Oyu Tolgoi Feasibility Study

Retrieved on: 
Monday, July 6, 2020

(TSX: ETG) (OTCQB: ERLFF) the "Company"or "Entre")reports that on July 2, 2020, Turquoise Hill Resources Ltd. ("Turquoise Hill") announced the completion of an updated Oyu Tolgoi Feasibility Study ("OTFS20") that incorporates the new mine design for Hugo North Lift 1 Panel 0.

Key Points: 
  • (TSX: ETG) (OTCQB: ERLFF) the "Company"or "Entre")reports that on July 2, 2020, Turquoise Hill Resources Ltd. ("Turquoise Hill") announced the completion of an updated Oyu Tolgoi Feasibility Study ("OTFS20") that incorporates the new mine design for Hugo North Lift 1 Panel 0.
  • The Hugo North Extension deposit on the Entre/Oyu Tolgoi joint venture property ("Entre/Oyu Tolgoi JV Property") is located at the northern portion of Panel 1.
  • Turquoise Hill believes the existing feasibility study designs for Panel 1 and Panel 2 remain executable based on the current orebody understanding.
  • Both the 2018 Reserve Case and the 2018 PEA are based on information reported within the 2016 Oyu Tolgoi Feasibility Study ("OTFS16").

Oyu Tolgoi mine design confirms project schedule and cost ranges and update to Ore Reserves and Mineral Resources

Retrieved on: 
Thursday, July 2, 2020

The updated study incorporates a new mine design for Panel 0 of the Hugo Dummett North underground mine at Oyu Tolgoi.

Key Points: 
  • The updated study incorporates a new mine design for Panel 0 of the Hugo Dummett North underground mine at Oyu Tolgoi.
  • The new design also confirms that the caving method of mining remains valid and that the underground schedule and costs remain within the ranges previously disclosed.
  • We remain focused on delivering the underground project safely and within the guidance ranges we have announced on both cost and schedule.
  • On 3 July 2020 Rio Tinto released to the Australian Securities Exchange (ASX) updated Mineral Resources and Ore Reserves for the Oyu Tolgoi mine.

Turquoise Hill provides update on Oyu Tolgoi project

Retrieved on: 
Monday, March 16, 2020

Oyu Tolgoi LLC is complying with all of these directives and is working closely with the Mongolian authorities to prioritize the health and safety of all its employees and the wider community.

Key Points: 
  • Oyu Tolgoi LLC is complying with all of these directives and is working closely with the Mongolian authorities to prioritize the health and safety of all its employees and the wider community.
  • Despite the impact of COVID-19, the open pit of the Oyu Tolgoi mine continues to operate and deliver shipments of copper concentrate to its customers across the border.
  • Work on the underground project continues, however there is restricted access for teams from Oyu Tolgoi, Rio Tinto and our construction partners to oversee development and provide specialist technical services.
  • The full impact of the slowdown on the underground project is unknown at this time and the company will update the market once more information is available.