Turquoise Hill Resources Ltd. (TRQ) is a leading global mining firm focused on the exploration of copper, silver and gold deposits. It is fundamentally engaged in the development of Mongolian copper-gold mine known as the Oyu Tolgoi.
The price of TRQ stock during the early trading on January 25, 2022 was $17.3 with a sharp surge of 14.57% after a breakthrough deal with the Mongolian government.
TRQ: Events and Happenings
On January 24, 2022, TRQ reported about the renovation of its collaboration with the the Oyu Tolgoi LLC and Mongolian Government. The company will now commence the undercut or blasting that will begin the OT’s underground mine making. Subsequently, the Company is also planning to start caving programs in the days to come. The company is hopeful that the mine will attain sustainable manufacture for Panel 0 in H1 2023.
On January 17, 2022, TRQ reported its Q4 2021 production and financial and operational guidance for 2022. Some of the key points are as follows
- Copper production in full year 2021 stood at 163 thousand tonnes
- Gold production in full year 2021 stood at 468 thousand ounces
- Milling throughput for full year 2021 stood at 39.1 million tonnes
On December 13, 2021, TRQ reported taking notice of the media coverage about talks between the company, Rio Tinto and the Mongolian government.
TRQ: Key Financials
On November 2, 2021, TRQ reported its financial results for the quarter ended September 30, 2021. Some of the key updates are as follows.
Revenue
Revenue in Q3 2021 was recorded to be $622.8 million compared to $264.4 million in the same period in 2020.
Net Income per Share
Basic and diluted net income per share in Q3 2021 was $22.9 million or $0.17 compared to $161.7 million or $0.64 in the same period of 2020.
Conclusion
TRQ stock is 09% up for the past six months period due to the sound policies of the company’s management. The recent premarket growth of the stock is outcome of commencement of underground mines and renewed partnership with Mongolian government. The analysts are hopeful with the output of the company’s stock and attributed it to the investors interest in company.
