Vancouver-based mineral resource company Entree Gold has filed its interim operational and financial results for the third quarter of 2016 on November 2.
Entree Gold has a 20 percent carried interest in two of the Oyu Tolgoi project deposits, the Hugo North Extension copper-gold deposit and the Heruga copper-gold-molybdenum deposit.
The company reported a 1.1 million USD net loss, a 50 percent decrease compared to the same period in 2015. As stated in their report, “Q3 2016 exploration and general and administrative expenditures of approximately 1.34 million USD and 1.59 million USD respectively, were reduced by 69 percent and 37 percent compared to the same quarter in 2015 as a result of the company’s continued objective to reduce expenditures.”
Outside of OT, Entree Gold has mining projects in Nevada and in New Mexico. In October, Entree announced that it is currently evaluating options to potentially restructure its business.