Phone conversations the past 2 days1. Bill Treneman, vice president for the original and present Ivanhoe Mines with Robert Friedland,
He spoke with Rio Tinto execs at recent mining conferences inNew ork and Boston. He is also a shareholder in TRQ. He is confident in OT going ahead. Mongolia continues to be cooperative since signing he new agreement with Rio in May. The financing agrements with various banks ae currently being negotiated, He believes the fluctuaions in the stock price of TRQ reflect the price of copper which has been down the past few weeks.
2. Just got off the phone with someone from Rio Tinto Corporate Communications who had served in Mongolia or 5 years. He called me after I had called Rio Tinto IR a couple of days ago.
He too, is confident in OT going ahead. He told me that the World Bank and the major United States bank had signed on to a new financing agreement. Rio executives are in active discussions wih the banks. He noted that the stock price of the major copper mining companies are down recently.
So short term there will be fluctuations in the SP of TRQ re: the price of copper. Long term all are very confdent in the excellent prospects for OT.