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Turquoise Hill Resources Ltd. TRQ


Primary Symbol: T.TRQ

Turquoise Hill Resources Ltd is a global mining company that primarily mines copper, gold, and coal in the Asia-Pacific region. The company holds a 66% interest in Oyu Tolgoi, one of the world's largest copper-gold-silver mines, which ships concentrate to customers in China. Oyu Tolgoi is located in the South Gobi region of Mongolia, approximately 550 km south of the capital, Ulaanbaatar, and 80 km north of the Mongolia-China border. The company also holds interests in companies that mine...


TSX:TRQ - Post by User

Comment by Skip57on Nov 04, 2022 2:32pm
144 Views
Post# 35073989

RE:RE:It's a Yukon Corporation

RE:RE:It's a Yukon CorporationThe problem with being a beneficial shareholder is that the shares are not in your name.  To dissent, they must be. You have to transfer the shares out of your financial institution, BMO, RBC, etc. I am with RBC.  Another wrinkle is that if your shares are in a registered account such as an RRSP, then a tax event is triggered.  My lawyer is in contact with RBC who are in the process of attempting to get around this by creating a "holding account" in which my accounts which hold TRQ are moved into.  The result, if successful, is that the shares are in my name but still held within RBC.

My lawyer has put together my dissent and is ready to fire it off. I have to make that decision.  If RBC cannot do its thing then the whole exercise is moot as 90% of my TRQ shares are within registered accounts and the tax consequences would outweigh the benefits of dissent, if any.  Also, there is no time to transfer shares into my name, that process takes weeks.  RIO stated that with the exception of Pentwater and SailingStone, they have not received any dissent notices.  Little wonder.

If we are lucky, and the OSC is sympathetic, then looking for a "cease trade" order on Monday.  Fingers crossed.  In any event will notify whether or not I proceed with dissent.

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