Entrée Resources Announces Second Quarter 2019 Results

About this update from Entree Resources Ltd

[{"type":"text","content":"\n\n\n\nEntrée Resources Announces Second Quarter 2019 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. 8, 2019\n\n\n\nVANCOUVER, Aug. 8, 2019 /CNW/ - Entrée Resources Ltd. (TSX:ETG; NYSE American:EGI – the \"Company\" or \"Entrée\") has today filed its interim financial results for the second quarter ended June 30, 2019. All numbers are in U.S. dollars unless otherwise noted.\nQ2 2019 HIGHLIGHTS \nOyu Tolgoi Underground Development Update – Mongolia\nThe Oyu Tolgoi project in Mongolia includes two separate land holdings: the Oyu Tolgoi mining licence, which is held by Entrée's joint venture partner Oyu Tolgoi LLC (\"OTLLC\") and the Entrée/Oyu Tolgoi JV Property, which is a partnership between Entrée and OTLLC. On July 15 and July 31, 2019, Turquoise Hill Resources Ltd. (\"Turquoise Hill\") provided an update on underground development on the Oyu Tolgoi mining licence:\nUnderground development progressed during Q2'19, with 3.2 total equivalent kilometres completed during the quarter. Since the restart of underground development in May 2016, 24.4 total equivalent kilometres and 18.9 equivalent kilometres of lateral development have been completed. The focus for the construction team remains completing Shaft 2, where works are progressing. The commissioning of Shaft 2 remains on track for October 2019. Other critical infrastructure components such as the control room facility and the jaw crusher system are now complete. Construction on Shafts 3 and 4 is progressing well and as of June 30, 2019 were 52 metres and 80 metres below the shaft collar respectively. The underground mining team achieved a record performance of over 1,000 metres of lateral development in June. Record monthly development was also achieved in June in the convey-to-surface decline. Turquoise Hill, in conjunction with Rio Tinto International Holdings Ltd. (\"Rio Tinto\") as the project manager, continues to review mine design options for the completion of the underground development of the Oyu Tolgoi mi...

More updates from Entree Resources Ltd