Entrée Resources Announces Second Quarter 2020 Results

About this update from Entree Resources Ltd

[{"type":"text","content":"\n\n\n\nEntrée Resources Announces Second Quarter 2020 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, BC, Aug. 4, 2020\n\n\n\nVANCOUVER, BC, Aug. 4, 2020 /CNW/ - Entrée Resources Ltd. (TSX: ETG) (OTCQB: ERLFF) (the \"Company\" or \"Entrée\") has today filed its interim financial results for the second quarter ended June 30, 2020. All numbers are in U.S. dollars unless otherwise noted.\nQ2 2020 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 2 and July 28, 2020, OTLLC's 66% shareholder Turquoise Hill Resources Ltd. (\"Turquoise Hill\") provided updates on underground development: \nThe unprecedented circumstances of the COVID-19 (coronavirus) pandemic impacted some aspects of underground construction in the second quarter 2020 due to continued restrictions on mine site access for teams from OTLLC, Rio Tinto International Holdings Ltd. (\"Rio Tinto\") and their construction partners. Despite the challenges presented by COVID-19, underground development on the Oyu Tolgoi mining licence continued, achieving strong productivity in underground advancement during the second quarter 2020 (1,830 equivalent metres in June with an average monthly rate of 1,831 equivalent metres for the quarter). Shafts 3 and 4 continued on care and maintenance and this is expected to continue until expert service providers can return to site to complete technical commissioning of specialized equipment and commence sinking activities. Work also slowed on some essential underground material handling infrastructure, in particular the construction of primary crusher one, which has now returned to 24-hour shifts following a period of day shift only. Personnel numbers on site have been limited in order to manage the risks aroun...

More updates from Entree Resources Ltd