Entree Resources Stock Price, News & Analysis

Entrée Resources (ERLFF) has announced a pause in the Oyu Tolgoi Lift 1 Panel 1 underground development work on the Shivee Tolgoi mining licence in Mongolia. The pause comes after completing approximately 230 equivalent metres of lateral development since October 2024. The delay is due to incomplete transfer of mining licenses from Entrée LLC to Oyu Tolgoi LLC (OTLLC), which requires tax assessment approval from Mongolian authorities. OTLLC will shift focus to Lift 1 Panel 2 South on its fully-owned mining licence to minimize operational impacts. The duration of the pause remains uncertain, and if significantly delayed, could materially affect development costs, schedule, and the company's financial condition. The license transfer process began in February 2025 following an international arbitration award, but awaits tax assessment from Mongolian authorities.

Entrée Resources (ERLFF) has announced significant drill results from its Hugo North Extension (HNE) deposit in Mongolia. The highlight includes surface drill hole UGD189B which intercepted 552 meters grading 3.11% copper equivalent (CuEq), including an impressive 260 meters grading 4.45% CuEq. Underground drilling also yielded notable results, with UGD876 returning 169.3 meters at 3.21% CuEq.

The drilling program, conducted in partnership with Oyu Tolgoi LLC, included one surface diamond drill hole and six underground holes completed during 2022 and 2024. The results demonstrate strong mineralization continuing up to 200 meters below the potential Lift 2 block cave, suggesting potential for future deeper mining operations.

Additionally, Panel 1 underground development has progressed with approximately 152 equivalent meters of lateral development work completed as of April 30, 2025. The company is working towards transferring the Shivee Tolgoi and Javkhlant mining licenses to OTLLC, which is crucial for planned 2025 development work.

Entrée Resources (ERLFF) reported Q1 2025 results highlighting significant developments in its Oyu Tolgoi joint venture. The company won a favorable arbitration ruling against Oyu Tolgoi LLC (OTLLC), leading to the formal execution of the Joint Venture Agreement. Operating loss decreased to $0.6M from $1.1M in Q1 2024, with cash balance at $5.8M. The company completed a private placement raising C$5.7M ($4.0M). Development work at Hugo North Extension commenced with 95 meters of lateral development completed. OTLLC achieved record copper production in March, with the Oyu Tolgoi project on track to become the world's fourth-largest copper mine by 2030, expecting average production of ~500 ktpa between 2028-2036. The company is working to transfer mining licenses to OTLLC and potentially convert the JV agreement to include a mechanism for sharing up to 34% of economic benefits with Mongolia.

Entrée Resources (ERLFF) has reported its fiscal year 2024 results and significant developments. The company achieved a major milestone when an international arbitration Tribunal ruled in its favor against Oyu Tolgoi (OTLLC) in December 2024. Following this, the Joint Venture Agreement (Entrée/Oyu Tolgoi JVA) was formally executed in February 2025.

Key operational highlights include the commencement of first Oyu Tolgoi Lift 1 Panel 1 underground development work on October 28, 2024, with 48 equivalent metres of lateral development completed by year-end. The 2024 drilling program included extensive surface and underground drilling at Hugo North Extension, totaling ~4,652.1 metres and ~6,221.1 metres respectively.

Financial results show an operating loss of $4.8 million for 2024, compared to $4.5 million in 2023. The company ended the year with a cash balance of $2.4 million and working capital of $2.6 million. In January 2025, they raised C$5.7 million through a private placement.

Entrée Resources (ERLFF) has announced significant drill results from its Hugo North Extension (HNE) and Heruga deposits in Mongolia. The company reported results from eleven underground diamond drill holes completed between 2022-2024 at HNE, with notable highlights including:

- UGD 578: 164m at 1.61% copper equivalent (CuEq), including 72m at 2.89% CuEq
- UGD 807C: 465.5m at 1.51% CuEq, including 188.5m at 2.50% CuEq
- UGD 815: 224m at 2.05% CuEq
- UGD 852: 351.2m at 1.53% CuEq, including 104m at 2.65% CuEq

At Heruga, drill hole EJD0099 returned 409.9m at 0.58% CuEq, including 230m at 0.79% CuEq, marking the first drilling at this deposit in over 12 years. The 2024 drilling program at HNE included 4,652.1m of surface drilling and 6,221.1m of underground drilling.

Entrée Resources (OTCQB:ERLFF) has announced the formal execution of its Joint Venture Agreement with Oyu Tolgoi (OTLLC), formalizing their 16-year operational partnership that began on June 30, 2008. The agreement enables the transfer of Joint Venture licenses to OTLLC under Mongolian law.

The execution follows a favorable arbitration award from December 19, 2024. The next step involves transferring the Shivee Tolgoi and Javkhlant mining licenses from Entrée to OTLLC, with joint venture fees and taxes being shared according to ownership structure (OTLLC lending Entrée's 20% share).

Additionally, the agreement has been amended to include the Shivee West Property within the Joint Venture Properties. This strategic move, effective February 3, 2025, helps Entrée avoid the significant annual holding cost of US$350,000 for the property.

Entrée Resources (TSX:ETG; OTCQB:ERLFF) has won a significant arbitration decision against Oyu Tolgoi (OTLLC) and Turquoise Hill Resources The three-member international arbitration Tribunal ruled in Entrée's favor on all issues and dismissed the Respondents' counterclaims. The Tribunal's binding declarations establish that OTLLC must: provide an executed Joint Venture Agreement (JVA), facilitate the transfer of the Shivee Tolgoi and Javhlant mining licenses, and cover Entrée's 20% share of taxes and fees as a loan under the JVA. The decision provides certainty for Oyu Tolgoi project stakeholders and supports keeping Lift 1 Panel 1 development work on schedule.

Entrée Resources reported Q3 2024 results highlighting progress at the Oyu Tolgoi project in Mongolia. The first Oyu Tolgoi Lift 1 Panel 1 underground development work on the Entrée/Oyu Tolgoi JV Property commenced on October 28, 2024. The company approved a $4.4 million direct capital budget for 212 metres of development work. Rio Tinto announced the Oyu Tolgoi Lift 1 underground mine remains on track to reach 500,000 tonnes of copper per year for 2028-2036. The company reported an operating loss of $0.7 million for Q3 2024, with a cash balance of $3.4 million as of September 30, 2024.

Entrée Resources has announced additional drill results from its 2023 program at the Hugo North Extension (HNE) deposit in Mongolia. Highlights include surface drill hole EGD 174 yielding 448 metres grading 1.62% copper equivalent (CuEq), and underground drill hole UGD 814 showing 138 metres grading 2.37% CuEq. The results come from eight diamond drill holes, with two surface holes drilled on the Entrée/Oyu Tolgoi JV Property and six underground holes collared from existing infrastructure. The drilling program continues to demonstrate significant copper and gold mineralization, with several holes intersecting high-grade zones within the potential Lift 2 block cave footprint.