Entrée Resources Ltd. reports developments tied to its Mongolia-focused mineral interests and the Entrée/Oyu Tolgoi joint venture. Recurring updates cover the Shivee Tolgoi and Javkhlant mining licenses, license-transfer matters involving Entrée LLC and Oyu Tolgoi LLC, drill and regional exploration results, and disclosures related to the Oyu Tolgoi project area.
Company news also includes annual and interim financial results, cash and working-capital updates, private placement activity, annual meeting voting results, auditor appointments, and board composition changes.
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Entrée Resources Ltd. (OTCQB: ERLFF) has filed its annual operational and financial results for 2022, reporting an operating loss of $3.6 million compared to $3.0 million in 2021. The company's cash balance stood at $6.4 million. Key highlights include the commencement of underground production at the Oyu Tolgoi project in Mongolia, expected to become the fourth largest copper mine by 2030. However, ongoing arbitration proceedings related to the Entrée/Oyu Tolgoi joint venture and the company’s exclusion from key investment agreements may pose challenges. The completion of critical shafts is delayed, now expected in the first half of 2024.
Entrée Resources Ltd. (OTCQB: ERLFF) released its interim financial results for Q3 2022, highlighting ongoing developments at the Oyu Tolgoi project in Mongolia. The Company reported an operating loss of $0.5 million for Q3 2022, with a cash balance of $7.1 million as of September 30, 2022. Notable updates include progress on underground construction, with sustainable production from Panel 0 expected in Q1 2023, despite a roughly 15-month delay in commissioning Shafts 3 and 4. Ongoing discussions with government stakeholders aim to resolve issues related to Entrée's exclusion from the Oyu Tolgoi Investment Agreement.