Entree Resources Stock Price, News & Analysis

Entrée Resources Ltd. (OTCQB: ERLFF) released its Q2 2022 financial results, reporting an operating loss of $0.7 million and a cash balance of $7.7 million as of June 30, 2022. The underground development at the Oyu Tolgoi project in Mongolia progressed with significant milestones, including early blasting at Panel 0. However, total expected underground development capital increased from $6.75 billion to $7.06 billion due to COVID-19 costs and other factors. The company is engaged in binding arbitration regarding the Entrée/Oyu Tolgoi Joint Venture Agreement.

Entrée Resources Ltd. (OTCQB: ERLFF) held its annual general meeting on June 16, 2022, where shareholders approved all proposed resolutions, including setting the number of directors at six. The election results showed strong support for the board, with voting percentages ranging from 97.89% to 98.51%. Additionally, Davidson & Company LLP was reappointed as the company's auditors. Entrée has a significant joint venture interest in the Oyu Tolgoi copper-gold project in Mongolia, with major shareholders including Royalty North Partners and Rio Tinto.

Entrée Resources Ltd. (OTCQB: ERLFF) has launched binding arbitration proceedings to enforce provisions of its Earn-in Agreement and Joint Venture Agreement with Turquoise Hill Resources Ltd. The action follows unsuccessful negotiations with Rio Tinto and Turquoise Hill for amendments to the agreements. The arbitration, initiated in Vancouver, aims to confirm the transfer of certain mining licenses to OTLLC, the joint venture manager. The company will provide updates as the arbitration progresses.

Entrée Resources Ltd. has filed its Notice of Meeting and Management Information Circular for the Annual General Meeting scheduled for June 16, 2022. Retiring directors Mark Bailey, Anna El-Erian, and James Harris will be replaced by nominees Teresa Conway and Paula Rogers, joining the existing board. Conway has extensive experience in North American energy, while Rogers has a strong background in mining finance and corporate governance. Shareholders can vote and ask questions during the meeting, which will be conducted via audio conference.

Entrée Resources Ltd. reported its first quarter 2022 results, revealing an operating loss of $0.6 million compared to $0.5 million in Q1 2021. The company holds a carried interest in the Oyu Tolgoi project in Mongolia, where significant milestones were achieved, including advancing the underground development and commissioning of critical infrastructure. The first drawbell blast is now anticipated in H1 2027, delayed from H2 2026. The cash balance stood at $8.5 million as of March 31, 2022. The company continues to evaluate potential delays and amendments to its joint venture agreement.

Entrée Resources Ltd. has appointed Allan Moss to its Board of Directors effective immediately. With over 40 years of mining experience, particularly in block caving, Mr. Moss is expected to enhance the company's oversight of its ongoing projects. Notably, the first development production from the Entrée/Oyu Tolgoi joint venture is anticipated in H2 2023. The company holds a significant carried joint venture interest in one of the largest copper-gold projects globally. Major shareholders include Sandstorm Gold, Rio Tinto, and Turquoise Hill Resources.

Entrée Resources Ltd. (OTCQB: ERLFF) published its operational and financial results for 2021, reporting an operating loss of $3.0 million, up from $2.3 million in 2020. The company holds a 20% interest in the Oyu Tolgoi copper-gold project in Mongolia. The updated Technical Report highlights life-of-mine cash flows of $449 million from Lift 1 and $1.982 billion from Lift 2. The anticipated production timeline is affected by COVID-19 delays, now projecting first sustainable production from Panel 0 in H1 2023.

Entrée Resources Ltd. (ERLFF) announces positive developments regarding the Oyu Tolgoi underground mine. On January 24, 2022, Turquoise Hill Resources and the Mongolian government resolved key issues, establishing a renewed partnership and comprehensive funding arrangement. The Oyu Tolgoi LLC board has approved the start of underground mine production at Hugo North Lift 1 Panel 0. Turquoise Hill will conduct a $650 million equity offering and seek up to $500 million in senior supplemental debt. These developments are crucial for ensuring financial performance and production rates at Oyu Tolgoi.

Entrée Resources Ltd. (OTCQB: ERLFF) has released its interim financial results for Q3 2021. Key highlights include a 15% increase in after-tax NPV(8%) for the Hugo North Extension Lift 1 Feasibility Study, now at $131 million. However, the ongoing COVID-19 pandemic has hindered underground development at the Oyu Tolgoi project, with a forecasted 9-month delay for Shafts 3 and 4 and a notable reduction in workforce. The company's Q3 operating loss increased to $0.5 million, while cash and working capital remain at $6.7 million.