Entree Resources Ltd T.ETG

Alternate Symbol(s): ERLFF

Metals & Mining Industrial Metals & Minerals

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.

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Entree Resources Ltd > New Press Release - ENTRÉE RESOURCES ANNOUNCES SECOND QUARTER 2023 RESULTS

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Comment by Countrygenton Aug 08, 2023 10:21pm

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Post# 35578748

RE:New Press Release - ENTRÉE RESOURCES ANNOUNCES SECOND QUARTER 2023 RESULTS

Shocking admission from ETG about our JV partner's behaviour.

"Drilling programs to support a Lift 2 Order of Magnitude Study are in progress. An updated resource model for Hugo North (including Hugo North Extension) is expected to be completed by mid-2024 and will include Lift 2. The updated resource model will incorporate the results from ongoing Hugo North Extension surface and underground drilling on the Entre/Oyu Tolgoi JV Property. The Company continues to request full results of the 2022 Hugo North Extension diamond drill program from OTLLC."

"The Entre/Oyu Tolgoi joint venture ("Entre/Oyu Tolgoi JV") Management Committee approved a 2023 in-fill drill program for Hugo North Extension comprising both underground (12 holes totalling 3,889 metres) and surface (six holes totalling 9,082 metres) diamond drilling. The underground holes are collared from underground drill stations on the Oyu Tolgoi mining licence crossing onto the Entre/Oyu Tolgoi JV Property. The approved budget for the program is ~$4.5 million, 20% of which will be contributed by OTLLC on Entre's behalf as a loan in accordance with the joint venture agreement (the "Entre/Oyu Tolgoi JVA"). The principal purpose for the 2023 drilling is to support the Lift 2 Order of Magnitude Study and updated resource model."

Anybody who recalls the TRQ convenient untruth "HNE is truncated by a boundary fault just North of the existing defined reserves" ... that little bit of sleaze against ETG is now finished.

Greg Crowe called the drill intersection at 1300mN likely "the top of the same mineralized system" back in ... 2006!!!

Jig is up OTLLC. Yes, there may be some displacement but it sure sounds like they relocated the continuation of HNE ... this is big money high grade ore for Lift 2.

Disgraceful way to treat a junior JV partner ... dare I say unlawful? The arbitration looms. We have the goods, the valuation will rise. Oh such sweet justicebif it coincides with a years-long spike in copper and gold prices and Rio ends up having hashed an opportunity at an absolute steal with a fair offer they never made to ETG over all the intervening years.

FMCDH ... from my cold dead hands ... for new readers.