This is great news for Rio Tinto, Ivanhoe Mines, Entree Gold, and of course PacMag Metals !! It gives far greater certainty to all parties involved, as the agreement has now taken full legal effect. All of the conditions precedent have now been satisfied.
Full-scale construction of the massive mining complex can now begin. Ivanhoe's construction budget for Oyu Tolgoi in 2010 (which has already been approved) is US$758 million ! Commercial production of copper and gold is due to commence in 2013...
The way it's looking, they will still be mining this amazing chain of deposits more than 100 years down the track !
Rgds, W.
PMH Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
