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Last $4.19 USD
Change Today +0.15 / 3.71%
Volume 8.6M
TRQ On Other Exchanges
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As of 8:04 PM 04/27/15 All times are local (Market data is delayed by at least 15 minutes).

turquoise hill resources ltd (TRQ) Key Developments

Turquoise Hill Resources Ltd. Reports Production Results for the First Quarter of 2015

Turquoise Hill Resources Ltd. reported production results for the first quarter of 2015. For the first quarter, the company reported concentrate production in first quarter of 2015 decreased approximately 30% over fourth quarter of 2014. Production was impacted by lower mill head grades as well as a planned shutdown to reline both SAG mills and undertake modification and improvement work. The shutdown was completed on time and with no injuries. Material mined in first quarter of 2015 increased approximately 16% over fourth quarter of 2014 mainly due to improvements driven by a range of productivity initiatives in the open pit partially offset by longer haul distances. Operating pit mined was 21,999,000 tonnes against 21,621,000 tonnes a year ago. Ore treated was 7,512,000 tonnes against 5,560,000 tonnes a year ago. God production was 0.48 g/t against 0.49 g/t a year ago. Silver was 1.16 g/t against 1.52 g/t a year ago. Copper production was 33.6,000 tonnes against 25.3,000 tonnes a year ago. Gold was 86,000 ounces against 66,000 ounces a year ago. Silver was 184,000 ounces against 163,000 ounces a year ago. Concentrage sold was 167.7,000 tonnes against 48.2,000 tonnes a year ago.

Turquoise Hill Resources Ltd. Reports Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Production and Capital Expenditure Guidance for 2015

Turquoise Hill Resources Ltd. reported earnings and production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income from continuing operations attributable to parent of $118.8 million or $0.06 per diluted share on total revenue of $634.1 million compared to net income from continuing operations attributable to parent of $242.2 million or $0.19 per diluted share on total revenue of $51.5 million for the same period of last year. Net income attributable to parent was $111.3 million or $0.07 per diluted share compared to net income attributable to parent was $138.4 million or $0.11 per diluted share for the same period of last year. For the year, the company recorded net income of $31.8 million or $0.02 per share, with losses including charges for impairment relating to SouthGobi partly offsetting Oyu Tolgoi's results. Net income from continuing operations was $141.0 million or $0.07 per share, 44% higher than in 2013. The increase follows the first full year of operations at Oyu Tolgoi, delivering gross margin of $372.1 million, or 22.6% of revenue, combined with reduction in general and administrative expenditure. Operating cash flows from continuing operations were $671.6 million in 2014 as Oyu Tolgoi achieved a full year of sales and reduced inventory levels, generating Turquoise Hill's first positive annual operating cash flow of $658.3 million. Additions to property, plant and equipment were $87.7 million in the year. For the fourth quarter, the company reported open pit material mined of 21,956,000 tonnes compared to 18,944,000 tonnes a year ago. Ore treated was 7,835,000 tonnes compared to 7,505,000 tonnes a year ago. Concentrates produced was 129,500 tonnes compared to 186,700 tonnes a year ago. Production of copper in concentrates was 32,900 tonnes compared to 50,300 tonnes a year ago. Production of gold in concentrates was 74,000 tonnes compared to 278,000 tonnes a year ago. Production of silver in concentrates was 208,000 tonnes compared to 286,000 tonnes a year ago. For the full year, the company reported open pit material mined of 76,919,000 tonnes compared to 72,032,000 tonnes a year ago. Ore treated was 27,872,000 tonnes compared to 20,317,000 tonnes a year ago. Concentrates produced was 563,600 tonnes compared to 290,000 tonnes a year ago. Production of copper in concentrates was 148,400 tonnes compared to 76,700 tonnes a year ago. Production of gold in concentrates was 589,000 tonnes compared to 157,000 tonnes a year ago. Production of silver in concentrates was 893,000 tonnes compared to 489,000 tonnes a year ago. Based on the current mine schedule, the company is expected to produce 175,000 to 195,000 tonnes of copper and 600,000 to 700,000 ounces of gold in concentrates in 2015. Production from the high-grade core of the southwest zone is expected to recommence in mid-2015. The company expects production distribution to be relatively similar to 2014 with production levels significantly higher in the second half of 2015. The company expects capital expenditure of $230 million in 2015. The company expects another strong year of cash flow generation in 2015.

Turquoise Hill Resources Ltd. to Report Q4, 2014 Results on Mar 24, 2015

Turquoise Hill Resources Ltd. announced that they will report Q4, 2014 results After-Market on Mar 24, 2015

Turquoise Hill Resources Ltd., Q4 2014 Earnings Call, Mar 25, 2015

Turquoise Hill Resources Ltd., Q4 2014 Earnings Call, Mar 25, 2015

Turquoise Hill Resources Ltd. Reports Production Results for the Fourth Quarter and Full Year 2014; Provides Production Guidance for 2015

Turquoise Hill Resources Ltd. reported production results for the fourth quarter and full year 2014. For the quarter, the company reported production of 50,300 tonnes of copper and 278,000 ounces of gold in concentrates against 32,900 tonnes of copper and 74,000 ounces of gold in concentrates in 2013. Higher ore grades during the quarter led to increased metal production over prior quarters, which was partially offset by reduced processing rates as a result of the December concentrator fire. For the full year 2014, the company reported production of 148,400 tonnes of copper and 589,000 ounces of gold in concentrates against 76,700 tonnes of copper and 157,000 ounces of gold in concentrates in 2013, in-line with the company's guidance. In 2015, Oyu Tolgoi is expected to produce 175,000 to 195,000 tonnes of copper and 600,000 to 700,000 ounces of gold in concentrates. Based on the 2015 mine schedule, production from the high-grade zone is expected to resume in mid-2015.

 

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