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Entree Gold Announces Fiscal Year 2015 Results and Reviews Corporate Highlights
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 30, 2016) - Entrée Gold Inc. (TSX:ETG)(NYSE MKT:EGI)(FRANKFURT:EKA) ("Entrée" or the "Company") has today file
About this update from Entree Resources Ltd
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 30, 2016) - Entrée Gold Inc. (TSX:ETG)(NYSE MKT:EGI)(FRANKFURT:EKA) (\"Entrée\" or the \"Company\") has today filed its annual operational and financial results for the year ended December 31, 2015. Stephen Scott, President and CEO, commented, \"In 2015, we remained focused on building shareholder value through engagement with partners and other local Mongolian stakeholders. Positive announcements in 2015 included the signing of the Oyu Tolgoi Underground Mine Development and Financing Plan and completion of a $4.4 billion finance facility for the re-start of the underground development at Oyu Tolgoi. The final step before the re-start is a formal Notice to Proceed by Turquoise Hill Resources, Oyu Tolgoi LLC and Rio Tinto, which is expected in the second quarter of 2016. We are very excited about these developments as the first lift of the Hugo North Extension deposit is included in the next phase of the underground mine development. In addition, we were very pleased to be able to repurchase a portion of our metal credit stream from Sandstorm Gold subsequent to year-end. \"In the third quarter of 2015, we also released an updated Preliminary Economic Assessment for our 100% owned Ann Mason copper-molybdenum porphyry deposit in Nevada (see news release of September 9, 2015). The updated PEA incorporates a resource update with 95% of the mineralization constrained within the PEA pit, now classified as either Measured or Indicated resources. The 2015 PEA also includes preliminary results of a detailed metallurgical program. The positive 2015 PEA further substantiates the quality and significance of the Ann Mason deposit and provides a solid base to advance the project. \"As market conditions remain depressed, the Company continued implementing plans to significantly reduce its cash burn rate ensuring that we are positioned to meet all challenges as they emerge and at the same time identify strategic growth opportunities with the potential to deliver value to the Company and our shareholders. Following closing of the Sandstorm transaction, the Company had approximately $15.6 million in cash. Overall, Entrée is part of a small group of junior exploration and mining companies with quality assets, strong management, meaningful treasury, and a growth mandate.\" All dollar figures in this...