Entree Resources Ltd T.ETG

Mongolian and Rio Head Butting

[Countrygent]

Do these people not understand “win - win”?   

Rio has at least shown they are no wimps when it comes to Mongolian overreaching.

From TRQ’s latest update this is why we wait:

”delayed resolution of outstanding issues, as well as the slowing of discussions as a result of the COVID-19 situation in Mongolia, will delay the Company's expected timing for initiation of the undercut. Some contractual commitments for future works on items such as Material Handling System 2 and the Concentrator upgrade have experienced delays, as entering into these commitments is currently pending approval of the Definitive Estimate and related budget uplift by the Oyu Tolgoi Board. Any significant further delay to the initiation of the undercut would result in further, unfavorable impacts to the underground project schedule, including the timing of sustainable production for Panel 0, the timing to commence Panel 2 and the timing and quantum of underground capital expenditure, all of which would materially, adversely impact the timing of expected cash flows from the Oyu Tolgoi underground project thereby further increasing the quantum of Turquoise Hill's estimated incremental funding requirement and would also likely in turn adversely affect the ability of the Company and Oyu Tolgoi to obtain additional funding or re-profile existing debt as contemplated by and/or within the timeframe set out in the Heads of Agreement entered into between the Company and Rio Tinto in April 2021. Turquoise Hill remains committed to seeking resolution of outstanding issues and remains mobilized in Mongolia to continue discussions with the Government to progress timely resolution for the benefit of all stakeholders. The Company will continue to monitor the situation, assess any impact of any related delays and update the market as appropriate.”

Sheesh.  Somebody send these people instructions for zoom meetings!

cg

[mrpancake]

Rio just grabbed the gun from Mongolian hands and pointed it right at them; they have no choice - sign on the dotted line or else.  Rio purposely continues to play hard ball now- has the Mongolians bleeding from a deep wound they can't patch themselves This latest talk of yet higher delay costs ... translation drop all this legal B.S. against us and we will buy you out and withdraw our

[fruitvale3067]

Underground delays, Increased costs, Poor or excessive covid protocals, waste issues, and power plant still not figured out..........The Mongolian Government is their own worst enemy.  So now the question is how long does this last and who blinks first. 

[fruitvale3067]

Maybe rising copper and gold prices will light a fire under someone in Mongolia. 

[UNKLAL]

Hey CG, what do you think of the ph * cking the retail shareholders just took on TRQ shares from the likes of RIO this morning??? BRUTAL eh!!! UNKLAL

[Countrygent]

I have grudging admiration and fear of the cutthroat tactics employed by RioT. Copper is set to soar.  Gold looks strong.  The OT underground progress on the engineering side has achieved huge milestones.  Yes, it ran over costwise, but they are building a printing press for big money for 100 years down there.  And financing costs couldn’t be lower. WHAT A SCAM.  And