Entree Gold officials have confirmed that the temporary transfer restriction on two joint venture (JV) mining licences will be lifted. The company has also been notified that JV reserves deposits, approved in July 2009, will now stand as presented.
Entree has been in discussions with Oyu Tolgoi project stakeholders, including the Government of Mongolia, Oyu Tolgoi LLC, Erdenes Oyu Tolgoi LLC, and Rio Tinto, since Ulaanbaatar officials temporarily restricted the JV licences from transfer in February 2013.
Talks to date have focused on Entrée’s exclusion from the 2009 Oyu Tolgoi Investment Agreement. Company officials have spoken of positive discussions although no final agreements have been reached and further discussions with all stakeholders are required.
Entree Gold is a Canadian mineral exploration company with key assets in Mongolia and Nevada. As a joint venture partner in Mongolia’s Oyu Tolgoi project, Entree seeks participation in one of the world’s largest copper-gold projects.
In addition, Entree has been advancing its copper-molybdenum Ann Mason Project in Nevada, which also hosts the Blue Hill copper deposit within the rejuvenated Yerington copper camp. Sandstorm Gold, Rio Tinto and Turquoise Hill Resources are major shareholders of Entree, holding 12%, 11% and 9% of issued and outstanding shares, respectively.