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Entree Resources Ltd T.ETG

Alternate Symbol(s):  ERLFF

Entree Resources Ltd. is a Canadian mining company. The Company is focused on the development and exploration of mineral property interests. The Company is principally focused on its Entree/Oyu Tolgoi JV Property in Mongolia. The Entree/Oyu Tolgoi joint venture property includes Lift 1 and Lift 2 of the Hugo North Extension copper-gold deposit, the Heruga copper-gold-molybdenum deposit, and a large underexplored, highly prospective land package. The Oyu Tolgoi project comprises two separate land holdings: the Entree/Oyu Tolgoi JV Property, which is a partnership between Entree and OTLLC, and the Oyu Tolgoi mining license, which is held by OTLLC. The Entree/Oyu Tolgoi JV Property comprises the eastern portion of the Shivee Tolgoi mining license and all the Javhlant mining license. The Company has a 56.53% interest in the Blue Rose Joint Venture. The Company has an interest in acquiring a 0.5% net smelter return royalty on the Canariaco copper project in Northern Peru.


TSX:ETG - Post by User

Comment by Countrygenton Jan 19, 2021 1:20pm
151 Views
Post# 32327383

RE:RE:Clock ticking towards May

RE:RE:Clock ticking towards MayAbsolutely not.

The buy-in to deposits not discovered by the government is not an expropriation but a pre-emotive right to purchase.

The mechanics of the OTTLC purchase price paid by Erdenes has never been explained, but at a minimum it would have been a proportional share of all exploration expenditures, plus an amount reflecting the value-added by the positive outcome of discovery.

Their royalty will have to be based upon the net value of their equity, or some other measure, but it isn’t ever going to be a 34% giveaway, especially for ETG - we gave away up to 80% of HNE, Heruga, and whatever else the JV ground holds in exchange for similar treatment of our retained interests to that secured by IVN/TRQ - which was their responsibility and expense, not ours.

Or so our position has stood.   Don’t lose sight of what a high price we paid to have IVN make the rather obvious drilling we could have executed ourselves.  It was pretty clear the Hugo North deposit extended onto our then 100% ground.  It was pretty clear the trend may have extended South towards what became Heruga.  If we had auctioned our ground in 2004 a very high price might have been paid by any number of interested parties.  And there is still much more drilling to be done on the JV.

No dice to giving up 1/3.

cg


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