Entrée Resources Announces Second Quarter 2017 Financial Results

About this update from Entree Resources Ltd

[{"type":"text","content":"\n\n\n\nEntrée Resources Announces Second Quarter 2017 Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 14, 2017\n\n\n\nVANCOUVER, Aug. 14, 2017 /CNW/ - Entrée Resources Ltd. (TSX:ETG; NYSE MKT:EGI – the \"Company\" or \"Entrée\") is pleased to report its financial results for the three and six months ended June 30, 2017.  Details of the Company's second quarter 2017 financial results are contained in the unaudited consolidated financial statements and Management's Discussion and Analysis, which are available on the Company's website at www.EntreeResourcesLtd.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. All figures are in US dollars unless otherwise noted.\n\nSECOND QUARTER 2017 HIGHLIGHTS Entrée/Oyu Tolgoi JV Property\n\n\nEntrée has engaged Amec Foster Wheeler to complete an initial data review to be followed up by an updated Technical Report which will include a Preliminary Economic Assessment of the Entrée/Oyu Tolgoi joint venture's Hugo North Extension Lift 2 and Heruga deposits. Completion of this Technical Report will be an important milestone and help investors understand the underlying value of Entrée's flagship asset.\nAs reported by Turquoise Hill Resources Ltd. (\"Turquoise Hill\") on July 31, 2017, production from the underground mine remains on track for first draw bell in mid-2020 and sustainable first production in 2021. Activities reported in Q2 2017 include:\n\nUnderground lateral development, sinking of Shafts 2 and 5 and the convey-to-surface decline system all continued to progress;\nUnderground lateral development made good progress during Q2 with approximately 1.4 equivalent kilometres completed; and\nShaft 5 sinking progressed approximately 190 metres during Q2 with sinking rates increasing significantly beyond those seen in Q1 2017.\n\nCorporate\n\n\nQ2 2017 net loss from continuing operations, was $0.6 million as compared to Q2 2016 ($0.7 million), a reduction of 11% from the comparative period of 2016.\nAs at June 30, 2017, cas...

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