annual results for etg

I don't want to sound overly upbeat, especially when our SP has taken such a beating in the past month, but Entree announced its annual results on Friday.

Much of it was as expected, exploration continues, small loss etc. However, this bit of the statement jumped out at me:

"Greg Crowe, President and CEO, commenting on the first quarter noted, "We are advancing our Yerington projects to development through systematic drilling and upgrading of known deposits and by exploration of additional targets. We have been building our team and operations in Yerington and are strongly encouraged by the initial drilling results we have received. In addition, substantial exploration and development work is underway on our properties in Mongolia."

What is interesting is that previously they were just going to sit on Yerrington, and only spoke about their Mongolian project as the main game, and only nominated bits of the Yerrinton operation as of interest. Now it seems they have woken up to the fact that it is a huge possibility, have changed focus and are steaming ahead with both projects, now referring to the projects in Yerrington under the one banner, will be interesting to see which horse they back, if not both. I will hold for another couple of years I think, can't see this going bad.