Entree Resources which is listed on Toronto Stock Exchange introduced updated technical report on the Entree/Oyu Tolgoi joint venture project. According to the report, it is estimated that the cash flow of the Hugo North expansion over the first 33 years of production will be $ 2.1 billion. For Entree Resources, a total of 18.5 million shares were traded in closed-market transaction and the company raised 7.6 million Canadian dollars last year. The annual loss reached $ 3.1 million in 2017, which is 3 percent higher than in 2016. By the end of 2017, the cash balance stood at $ 7.1 million. In 2018, the company plans to spend around USD 1.2-1.5 million on site management and marketing in Mongolia. Entree Resources and Oyu Tolgoi Joint Venture company owns not only Hugo North area bu also the majority of “Heruga” area in the Oyu Tolgoi project.

Source: BloombergTv.mn