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Entrée Resources Reports Updated Feasibility Study for its Interest in the Entrée/Oyu Tolgoi Joint Venture Property
Updated Reserve Case NPV(8%) for Hugo North Extension Lift 1 of $111 million (C$139 million*) Preliminary Economic Assessment of alternative development scenari
About this update from Entree Resources Ltd
[{"type":"text","content":" Updated Reserve Case NPV(8%) for Hugo North Extension Lift 1 of $111 million (C$139 million*) Preliminary Economic Assessment of alternative development scenario for all three joint venture deposits NPV(8%) of $278 million (C$348 million*) (All figures are in US dollars unless otherwise noted) VANCOUVER, Jan. 15, 2018 /CNW/ - Entrée Resources Ltd. (TSX:ETG; NYSE American:EGI – the \"Company\" or \"Entrée\") is pleased to announce the results of an updated Feasibility Study that was completed on its interest in the Entrée/Oyu Tolgoi joint venture property (the \"Entrée/Oyu Tolgoi JV Property\"). Entrée has a 20% participating interest in the joint venture (the \"Entrée/Oyu Tolgoi JV\") with Oyu Tolgoi LLC (\"OTLLC\") holding the remaining 80% interest. The Entrée/Oyu Tolgoi JV Property comprises a significant portion of the long-life, high-grade Oyu Tolgoi copper-gold mining project in Mongolia. The updated Feasibility Study only reports on mineral resources and reserves attributable to the Entrée/Oyu Tolgoi JV. The updated Feasibility Study discusses two development scenarios, an updated reserve case (the \"2018 Reserve Case\") and a Life-of-Mine (\"LOM\") Preliminary Economic Assessment (\"2018 PEA\"). The 2018 Reserve Case is based only on mineral reserves attributable to the Entrée/Oyu Tolgoi JV from the first lift (\"Lift 1\") of the Hugo North Extension underground block cave. Lift 1 of Hugo North (including Hugo North Extension) is currently in development by project operator Rio Tinto, with first development production from Hugo North Extension expected in 2021. When completed, Oyu Tolgoi will become the world's third largest copper mine. The 2018 PEA is an alternative development scenario completed at a conceptual level that assesses the inclusion of the Hugo North Extension Lift 2 and Heruga deposits into an overall mine plan with Hugo North Extension Lift 1. The 2018 PEA includes Indicated and Inferred resources from Hugo North Extension Lifts 1 and 2, and Inferred resources from Heruga. Significant development and capital decisions will be required for the eventual development of the two additional Entrée/Oyu Tolgoi JV deposits (Hugo North Extension Lift 2 and Heruga) once production commences at Hugo North Extension Lift 1. LOM highlights of the production and financial results from the ...