MONGOLIA - Ivanhoe secures funds for Oyu Tolgoi

Ivanhoe Mines has completed a US$1.8 billion rights offering aimed at raising funds for the construction and development of its Oyu Tolgoi project. The rights offering will see a total of 260 million new common shares issued, the maximum available. Rio Tinto, Ivanhoe’s majority shareholder, has exercised all of its respective rights issued to it in the offering.  1

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MONGOLIA - Parliament on verge of changing parties

Preliminary results from Mongolia’s parliamentary election on June 28 are suggesting there could be a change to the control of the legislature with the Democratic Party (DP) ahead by about 50,000 votes.  1

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MONGOLIA - Prophecy’s Tugalgatai purchase fully funded

Canadian miner Prophecy Coal will purchase the Tugalgatai coal licences in Mongolia after securing a $10 million loan from Waterton Global Value. Tugalgatai is host to a large coal resource contiguous to Prophecy’s Chandgana licences which host a measured 650 million tonne measured coal deposit and a 540 million tonne inferred thermal coal deposit.  1

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