Ivanhoe says Mongolian mine on target for production | Resource Intelligence: "Ivanhoe Mines Ltd. (IVN-T 9.07 0.32 3.66%) has reported a narrowing of its first-quarter loss as the Vancouver-based miner said its promising Oyu Tolgoi copper-gold project in Mongolia remains on track for commercial production next year.
Ivanhoe, 51 per cent owned by international mining giant Rio Tinto (RIO -N45.83 -0.74 -1.59%), said after markets closed Tuesday that its net loss in the three months ended March 31 was $80.6-million (U.S.) or 11 cents per share.
That compared with a net loss of $492.5-million or 70 cents per share in the same 2011 period when the company took a $432.5-million loss on a change in fair value of derivatives."
'via Blog this'
