well both IVA and esp ORE rose since prev post on 04/09 although ORE is off its incredible highs. Article below onfirms IVA will start work shortly on what will become one of the world's largest and richest copper mines. It confirms that IVA have plenty cash and the Merlin project will also get the green light. Merlin is large and extremely rich deposit. best of its type anywhere.
Mongolia to Sign Oyu Tolgoi Agreement on Oct. 6, Montsame Says
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By Bloomberg News
Oct. 1 (Bloomberg) -- Mongolia’s government will sign an agreement on Oct. 6 allowing Ivanhoe Mines Ltd. to develop the Oyu Tolgoi copper-and-gold mine, the government news agency Montsame said.
The date chosen is astrologically the most auspicious day in October, according to the Buddhist calendar, Montsame reported yesterday, citing unidentified people.
Mongolia’s government may approach international financial Institutions, including the World Bank, to help it raise the $820 million needed to maintain a 34 percent equity stake in the project, Montsame said, citing the parliamentary economic committee Chairman T. Bayarsaikhan.
The government missed a Sept. 30 dateline for signing the accord because of a need to translate the agreement into English to avoid interpretation issues, Bayarsaikhan said, the news agency reported.
--Eugene Tang. Editor: Tan Hwee Ann, Indranil Ghosh.
IVA Price at posting:
$3.61 Sentiment: LT Buy Disclosure: Held
