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The latest announcement is out from Entree Gold ( (TSE:ETG) ).
Entrée Resources Ltd. announced a non-brokered private placement of up to 2,577,700 units at C$2.21 per unit, aiming to raise up to C$5,696,717. The proceeds will support general corporate purposes, including implementing a partial final arbitration award related to a dispute with its joint venture partner Oyu Tolgoi LLC and continuing discussions with project stakeholders. The private placement is expected to close in the first quarter of 2025, pending regulatory approvals, with Horizon Copper Corp., a significant shareholder, participating to maintain its stake.
More about Entree Gold
Entrée Resources Ltd. is a Canadian mining company with a unique carried joint venture interest in the Oyu Tolgoi project, one of the world’s largest copper-gold projects located in Mongolia. The company holds a 20% or 30% carried participating interest in the joint venture depending on the depth of mineralization. Major shareholders include Horizon Copper Corp. and Rio Tinto, holding approximately 24% and 16% of the shares, respectively.
YTD Price Performance: 12.86%
Average Trading Volume: 14,509
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $372M
Learn more about ETG stock on TipRanks’ Stock Analysis page.
