Entree Gold cuts third quarter loss as it scales back Mongolian exploration - Winnipeg Free Press: "VANCOUVER - Entree Gold Inc. (TSX:ETG) cut its net loss by nearly half in the third quarter as the Vancouver-based gold explorer cut its exploration expenses in Mongolia.
The company reported Friday it lost US$3.5 million or three cents a share for the three months ended Sept. 30.
That compared with a loss of US$6.5 million or six cents a year earlier.
In another development later Friday, the company said it plans to raise C$12.5 million by issuing common shares to investors.
The money will be used to finance exploration and development of mine projects in Nevada and Mongolia.
In its earnings report, Entree said its lower net loss partly reflected decreased exploration in Mongolia as the Company continues to focus on its Yerington copper projects in Nevada."
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