Turquoise Hill hosts financial Community Visit to Oyu Tolgoi in Mongolia

Turquoise Hill Resources conducted a financial community mine site visit to Oyu Tolgoi on October 3-5, 2017. The Company hosted investors and analysts for a tour of the mine as well as presentations by Oyu Tolgoi’s management team and Turquoise Hill

CEO Jeff Tygesen said, “It is always a pleasure to welcome our shareholders and analysts to Oyu Tolgoi. This year the group saw first-hand the progress being made with underground development. Both lateral development and engineering are on plan. Shaft 2 is key to future increases in lateral development activity and the completion of Shaft 5 is expected in the first quarter of 2018. After more than a year of construction progress, Rio Tinto is currently undertaking a schedule and cost review. Such a review is common with large-scale, complex development projects such as Hugo North Lift 1. Turquoise Hill continues to expect production from the Hugo North Lift1’s first draw bell in mid-2020 and there have been no changes to cost estimates.

“In addition to underground development, the group also saw open-pit operations which are performing well. The 2018 mine plan forecasts more gold production for the year than anticipated in the 2016 technical report due to splitting Phase 4 of the open pit into two parts – 4A and 4B. The increased gold from Phase 4A in 2018 could be approximately 100,000 ounces; however we will provide a specific range when we issue 2018 production guidance in December 2017. The expected increase in 2018 gold production is the result of bringing production forward from future years.”

Source: Turquoise Hill

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