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Entrée Files NI 43-101 Technical Report on Hugo North Extension and Heruga Development Options
Entrée Files NI 43-101 Technical Report on Hugo North Extension and Heruga Development Options
About this update from Entree Resources Ltd
[{"type":"text","content":"\n\n\n\n Jun. 15, 2010 (Canada NewsWire Group) -- Entrée Gold Inc. (TSX:ETG; NYSE AMEX:EGI; Frankfurt:EKA - "Entrée" or the "Company") has filed a comprehensive NI 43-101 Technical Report ("ETR10") on SEDAR, which can be viewed in its entirety on www.sedar.com or Entrée's website at www.entreegold.com.\nETR10 outlines the history and exploration of Entrée's Lookout Hill Project in Mongolia and discusses various scenarios related to the future development of the Oyu Tolgoi mining complex and, more specifically, the Entrée-Ivanhoe Joint Venture Property ("EJV Property"). ETR10 was prepared by AMEC Minproc ("AMEC") and includes information from Ivanhoe Mines Ltd.'s (TSX:IVN; NYSE:IVN - "Ivanhoe Mines") Integrated Development Plan ("IDP10") prepared for the Oyu Tolgoi project, discussed by Ivanhoe Mines in their news release of May 11, 2010 and recently filed on SEDAR.\nEntrée has supplemented the work in IDP10 with additional analysis specific to the Company and its holdings in the Oyu Tolgoi Project area. This additional work has been prepared by AMEC and Ernst & Young LLP to examine further aspects of the Mineral Reserve, metal price sensitivities, Real Options Analysis, Heruga and additional production options. Key portions of the IDP10 that are pertinent to Entrée were outlined in the Company's news release of May 11, 2010, including the first calculated mineral reserves on the EJV Property.\nThe ETR10 and IDP10 present two main complementary development cases:\n\n\n >\n\n\nFurther to Entrée's news release of May 11, 2010, AMEC has also prepared a preliminary financial analysis of two alternative production scenarios ("Alternative Scenarios") that contemplate bringing Heruga into production earlier than in the LOM Sensitivity Case. The potential impact of the Alternative Scenarios is provided in more detail below.\nThe results of the financial analysis for the Reserve Case and the LOM Sensitivity Case in ETR10 are provided in Table 1. Net present values ("NPV") were calculated using a discounted cash flow ("DCF") of 8%. The same long term metal prices were used as in the Company's May 11, 2010 news release, however, current metal prices have been amended. Under the terms of the Entrée-...