The Law Offices of Frank R. Cruz announces an investigation of Turquoise Hill Resources Ltd. on behalf of investors concerning the Company’s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On February 26, 2019, the Company announced in a press release that, while “the [Oyu Tolgoi] project cost was expected to remain within the $5.3 billion ...

The Law Offices of Frank R. Cruz announces an investigation of Turquoise Hill Resources Ltd. ("Turquoise Hill" or the "Company") (NYSE: TRQ ) on behalf of investors concerning the Company's possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

On February 26, 2019, the Company announced in a press release that, while "the [Oyu Tolgoi] project cost was expected to remain within the $5.3 billion budget," a review had determined that "there was an increasingly likely risk of a further delay to sustainable first production beyond Q3‘21." Turquoise Hill attributed the "likely risk" to productivity setbacks in completing Shaft 2 and "challenging ground conditions that have had a direct impact on the project's critical path."

On this news, the Company's share price fell $0.27, or approximately 13%, to close at $1.83 per share on February 27, 2019, thereby injuring investors.

Then, on July 15, 2019, Turquoise Hill announced that sustainable first production from the underground development of Oyu Tolgoi would now be delayed by another 9 to 21 months until May 2022 to June 2023. The Company also stated that "the development capital spend for the project may increase by $1.2 to $1.9 billion over the $5.3 billion previously disclosed."

On this news, the Company's share price fell $0.47, or 44%, to close at $0.60 per share on July 16, 2019, thereby injuring investors further.

Then, on July 31, 2019, after the market closed, Turquoise Hill disclosed that it had taken a $600 million impairment charge and a significant "deferred income tax recognition adjustment" tied to the Oyu Tolgoi project, and that it had suffered a loss in the second quarter.

On this news, the Company's share price fell $0.05, or over 8%, to close at $0.53 per share on August 1, 2019, thereby injuring investors further.

Follow us for updates on Twitter: twitter.com/FRC_LAW .

If you purchased Turquoise Hill securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com , or visit our website at www.frankcruzlaw.com . If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com

News Provided by Business Wire via QuoteMedia

Western Copper and Gold Intersects 2.53% CuEq Over 65.8 m and 1.01% CuEq Over 289.6 m at Casino

Western Copper and Gold Intersects 2.53% CuEq Over 65.8 m and 1.01% CuEq Over 289.6 m at Casino

Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce assay results from the initial nine holes of the 2021 diamond drilling program at its wholly-owned Casino Project in the Yukon Territory, Canada . The program, developed with input from Rio Tinto, comprised a total of 6,074.97 metres in 22 holes.

Highlights

Keep reading... Show less
Copper Fox Provides Update on Van Dyke Project

Copper Fox Provides Update on Van Dyke Project

Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ('Copper Fox' or the 'Company'), through its wholly owned subsidiary Desert Fox Copper Inc., are pleased to provide an update on its 100% owned Van Dyke in-situ copper recovery ("ISCR") project located in the Globe-Miami Mining District, Arizona. Montgomery & Associates ("Montgomery"), a water resource consulting firm headquartered in Tucson, AZ, completed an Order of Magnitude (+-30%) estimate of the timeline, costs and datasurveys required to complete the hydrogeological portion of the pre-application and formal permitting process for the Van Dyke project.

Highlights

Keep reading... Show less
Peel Mining Logo

High Grade Maiden Copper Resource At Wirlong

WITH EXCELLENT POTENTIAL FOR FUTURE RESOURCE GROWTH

Peel Mining Ltd (ASX Code: PEX) ("Peel" or "the Company") is pleased to report a maiden Indicated & Inferred Mineral Resource Estimate for its 100% owned Wirlong copper deposit located ~70km SSE of Cobar in Western NSW. The MRE provides Peel with further foundation to its copper first development strategy, adding further copper-rich resources to Peel's high-grade Mallee Bull copper deposit.

Keep reading... Show less
Rio Tinto Reports Final Results at Rafuse Target; Exploration Update at Forum's Janice Lake Copper/Silver Project, Saskatchewan

Rio Tinto Reports Final Results at Rafuse Target; Exploration Update at Forum's Janice Lake Copper/Silver Project, Saskatchewan

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "Company") announces the final set of assay results from Rio Tinto Exploration Canada's ("Rio Tinto" or "RTEC") summer drill program at the Rafuse target on Forum's 100% owned Janice Lake coppersilver project in Saskatchewan (Figure 1).

RTEC reports that it has spent $14 million in exploration expenditures to date, which exceeds the $10 million required to earn a 51% interest in the Janice Lake project. Rio Tinto does not plan an exploration program for the 2022 budget year. A $100,000 cash payment to Forum is due on or before May, 2022 to complete its 51% earn-in obligation.

Keep reading... Show less

Teck Media and Investor Webcast Advisory

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") President and Chief Executive Officer Don Lindsay will be presenting at the Scotiabank Mining conference on Tuesday, November 30, 2021 at 10:30 a.m. Eastern7:30 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company's business units.

The fireside chat presentation will be webcast through the following link at:
https://wsw.com/webcast/bns20/teck/1653795 .

Keep reading... Show less

Hudbay Announces Senior Management Appointments

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) is pleased to announce the appointment of Andre Lauzon as its Senior Vice President and Chief Operating Officer, effective January 4, 2022. He replaces Cashel Meagher, Senior Vice President and Chief Operating Officer, who has provided notice that he will be leaving the company to pursue other interests. Mr. Lauzon, who is currently the Vice President of Hudbay's Arizona Business Unit, has been working closely with Mr. Meagher over the past several years on key growth projects in Manitoba and Arizona and his appointment ensures a seamless transition in accordance with the company's succession plan as Hudbay continues to pursue its growth objectives.

"Andre's appointment demonstrates the deep operational and technical bench strength at Hudbay. His promotion reflects both his readiness and his valued expertise and comes at an opportune time as our operations are embarking on a period of significant production and cash flow growth with the recent completion of our major brownfield investment programs. We look forward to having Andre play a key role in delivering our next stage of growth with our leading organic pipeline," said Peter Kukielski, President and Chief Executive Officer. "We are grateful for Cashel's contributions in various roles at Hudbay over the past 13 years, including his leadership in building our South America business, and we wish him well in his future endeavours. I look forward to continuing to work with our talented, effective and innovative operating and technical teams under Andre's leadership."

Keep reading... Show less

Top News

Related News