Second Time...
Back in May IVN had the same problem with Reuters... Maybe it's time for them to hire a PR firm...lol.......................................................................................................................................................................................................................................... Ivanhoe Mines disputes, corrects Reuters story on mines 2014-05-16 08:19 ET - News Release Mr. Bill Trenaman reports STATEMENT: INACCURATE REUTERS NEWS STORY MISREPRESENTED STATEMENTS IN IVANHOE MINES NEWS RELEASE REGARDING ONGOING DEVELOPMENT OF THE COMPANY'S KAMOA COPPER DISCOVERY AND KIPUSHI MINE UPGRADING A Reuters news story published yesterday inaccurately referred to an Ivanhoe Mines Ltd. news release issued May 15, 2014, that provided a review of the company's operations and financial results for the first quarter of 2014. The Reuters story reported that Ivanhoe Mines had "said it would not be able to develop two mines in the Democratic Republic of Congo unless it gets more funds by the end of June." In doing so, the Reuters story misstated and misrepresented what Ivanhoe Mines actually announced in its public news release and also in the accompanying management's discussion and analysis. Ivanhoe stated only that "the company's main objectives for 2014 remain ... the commencement of the underground mine-access decline at the Kamoa project and the underground drilling program at the Kipushi project." Ivanhoe further stated that the company would require further financing by the end of June "to meet these objectives." Reuters's statements implied that the development of Kamoa and Kipushi is an all-at-once or not-at-all proposition. As any mine-development company could attest, the process of development and financing proceeds in phases. The development of the Kamoa copper discovery, the historical high-grade zinc-copper Kipushi mine and the Platreef platinum-palladium-gold-nickel-copper project in South Africa all have proceeded on that basis. Ivanhoe expects this will continue. The company's disclosures merely continue to inform its stakeholders that each successive phase of development will need financing and currently that financing is for the present phases of the DRC projects, which constitute the underground mine-access decline at the Kamoa project and the underground drilling program at the Kipushi project. Ivanhoe has a very supportive shareholder base, which was affirmed last October when the company successfully raised $108-million at $2.00 per share. Ivanhoe also believes the market understands the value proposition behind its projects and fully expects to carry on with its financing and development in the normal course. The Reuters story also ignored Ivanhoe's statements that it was progressing continuing discussions and negotiations with potential strategic investors and joint venture parties and that it was examining a number of corporate and project-level options, including "a corporate reorganization, project spinoffs (including potentially separating its South African platinum assets and its DRC copper and zinc assets into separately listed public companies), sales or joint ventures, project- or corporate-level debt and/or equity investments (including interim financing), and additional and/or alternative stock exchange listings for certain of the company's projects." Ivanhoe continues to examine these options to help realize the full value of its world-scale mineral projects in Africa.