Entree Resources Ltd T.ETG

Well Surprising

[Countrygent]

Rio Tinto agrees to write-off the original buy-in by Mongolia for its 34% of OTTLC, plus interest - close to $3 billion.

Sounds like a done deal with the negotiating political party having a solid majority in Parliament plus holding the Presidency.

Rio must see a lot of value in there!   

TRQ up big ... and ETG regains good ground.  Compared to years ago - awful valuation, but heading up.

Now let's get some global traction on copper and gold prices, although there is a wide range of opinion about what comes next on that score.

cg

[wawahunt2]

Morning CG long time watcher of this play.... do you think Rio will want to clean up the structure of this mine as in take out  TRQ and the poor sister ETG ? im thinking of jumping back in......

[Countrygent]

My odds-on bet would be the entire ownership of OT goes private before A) significant cashflow begins to flow from Hugo North and HNE, and/or B) There is a major exploration campaign re-initiated over the JV lands at OT. However, the latter may be a real dilemma for Rio and TRQ - if they have probable drilling targets in mind, can theymake a going-private bid for the minority shares of TRQ and/or