Entrée Resources Secures C$5.7 Million in Private Placement to Advance Oyu Tolgoi Venture

Entree Gold ( (TSE:ETG) ) has shared an announcement.

Entrée Resources Ltd. has completed a non-brokered private placement raising C$5.7 million, issuing 2,577,700 units. The proceeds will fund corporate purposes, including implementing an arbitration award related to its joint venture with Oyu Tolgoi LLC and supporting ongoing discussions with project stakeholders. Horizon Copper Corp., a major shareholder, participated significantly in the financing.

More about Entree Gold

Entrée Resources Ltd. is a Canadian mining company holding a unique carried joint venture interest in the Oyu Tolgoi project in Mongolia, one of the largest copper-gold projects globally. The company has a 20% or 30% carried participating interest depending on mineralization depth, with Horizon Copper Corp. and Rio Tinto as major shareholders.

YTD Price Performance: 4.17%

Average Trading Volume: 15,191

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $358.9M

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