Business
Entrée Resources Announces First Quarter 2025 Results
VANCOUVER, British Columbia, May 08, 2025 (GLOBE NEWSWIRE) -- Entrée Resources Ltd. (TSX:ETG...
About this update from Entree Resources Ltd
[{"type":"text","content":"Entrée Resources Announces First Quarter 2025 Results\n\n\n\n VANCOUVER, British Columbia, May 08, 2025 (GLOBE NEWSWIRE) -- Entrée Resources Ltd. (TSX:ETG; OTCQB:ERLFF – the “\n \n Company\n \n ” or “\n \n Entrée\n \n ”) has today filed its interim financial results for the first quarter ended March 31, 2025. All numbers are in U.S. dollars unless otherwise noted.\n \n\n\n Q1 2025 HIGHLIGHTS\n \n\n\n Arbitration and Entrée/Oyu Tolgoi JVA\n \n\n\n\n On December 19, 2024, a partial final award (the “\n \n Award\n \n ”) was made by the three-member international arbitration Tribunal appointed in connection with the Company’s binding arbitration proceedings against its joint venture partner Oyu Tolgoi LLC (“\n \n OTLLC\n \n ”) and Turquoise Hill Resources Ltd. (together, the “\n \n Respondents\n \n ”). The Tribunal ruled in favor of the Company on all issues and dismissed the Respondents’ counterclaims.\n \n\n As the first step in the implementation of the Award, on February 3, 2025, the Company and OTLLC formally executed and delivered the Joint Venture Agreement appended to the amended 2004 Equity Participation and Earn-In Agreement between the parties. The Joint Venture Agreement (the “\n \n Entrée/Oyu Tolgoi JVA\n \n ”), which has governed joint venture operations and the rights and obligations of the parties since the joint venture was formed in 2008, has an effective date of June 30, 2008, as amended on February 3, 2025.\n \n\n In conjunction with the formal execution and delivery of the Entrée/Oyu Tolgoi JVA, the Company assigned to OTLLC an 80% or 70% (depending on the depth of mineralization) beneficial interest in the area covered by the western portion of the Shivee Tolgoi mining licence (the “\n \n Shivee West Property\n \n ”), which was previously 100% owned by the Company. The Entrée/Oyu Tolgoi JVA incorporates amended definitions of “Existing Licenses” and “Properties” to include the Shivee West Property for all purposes under the Entrée/Oyu Tolgoi JVA. The geographic area covered by the Shivee Tolgoi and Javkhlant mining licences is the “\n \n Entrée/Oyu Tolgoi JV Property\n \n ”.\n \n\n The Entrée/Oyu Tolgoi ...