Last $3.38 USD
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turquoise hill resources ltd (TRQ) Key Developments

Turquoise Hill Resources Announces Earnings Results for the Second Quarter Ended June 30, 2014

Turquoise Hill Resources announced earnings results for the second quarter ended June 30, 2014. In the second quarter of 2014, the company recorded net income of $9.6 million ($0.00 per share), compared to a net loss of $105.4 million ($0.08 per share) in the second quarter of 2013, representing an improvement of $115.0 million. Results for the second quarter of 2014 improved due to reductions in operating losses before non-controlling interests at Oyu Tolgoi of $39.2 million and at SouthGobi of $24.9 million which after adjusting for non-controlling interests resulted in improvements of $25.9 million and $13.9 million respectively. In addition, the improvement arose from a gain of $14.0 million on the sale of non-core mineral property rights and reduced corporate expenses of $8.1 million. The results for the second quarter of 2013 included a loss from discontinued operations of $48.9 million. Total revenue was $442.7 million against $6.1 million a year ago.

Turquoise Hill Resources Ltd. to Report Q2, 2014 Results on Aug 12, 2014

Turquoise Hill Resources Ltd. announced that they will report Q2, 2014 results at 11:46 PM, GMT Standard Time on Aug 12, 2014

Turquoise Hill Resources Ltd., Q2 2014 Earnings Call, Aug 12, 2014

Turquoise Hill Resources Ltd., Q2 2014 Earnings Call, Aug 12, 2014

Turquoise Hill Resources Announces Production Results of Oyu Tolgoi for the Second Quarter and First Half of 2014; Provides Production Guidance for the Year 2014

Turquoise Hill Resources announced production results of Oyu Tolgoi for the second quarter and first half of 2014. For the quarter, the company reported production of open pit material mined of 16,861,000 tonnes. Ore treated was 7,778,000 tonnes. Copper concentrates produced was 140,000 tonnes. Production of copper in concentrates was 36,200 tonnes. Production of gold in concentrates was 113,000 tonnes and production of silver in concentrates was 229,000 tonnes. For the half year, the company reported production of open pit material mined of 38,482,000 tonnes compared to 37,925,000 produced in the same period last year. Ore treated was 13,338,000 tonnes against 4,430,000 tonnes reported last year. Copper concentrates produced was 242,900 tonnes against 50,200 tonnes reported last year. Production of copper in concentrates was 61,500 tonnes against 13,100 tonnes reported last year. Production of gold in concentrates was 179,000 tonnes against 21,000 tonnes reported last year. Production of silver in concentrates was 391,000 tonnes against 85,000 tonnes reported last year. Turquoise Hill continues to expect Oyu Tolgoi to produce between 135,000 - 160,000 tonnes of copper and 600,000 - 700,000 ounces of gold in concentrates for 2014.

Turquoise Hill Resources Ltd. Announces Executive Changes

Turquoise Hill Resources Ltd. announced the appointment of Steeve Thibeault as Chief Financial Officer effective June 1, 2014. Mr. Thibeault will replace Chris Bateman, who will be leaving the company to pursue other opportunities. Mr. Bateman and Mr. Thibeault are working together to ensure a smooth transition. Mr. Thibeault brings more than 30 years of extensive financial and corporate experience to Turquoise Hill. Most recently, he was Chief Financial Officer of Australian Stock Exchange-listed Energy Resources of Australia. Prior to that role, Mr. Thibeault held various mining and manufacturing roles with Rio Tinto Alcan and Alcan Aluminium Limited.

 

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