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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: TheBusDriver1/16/2006 7:19:48 AM
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man is it just me or does it seem like the bozos have taken over the nut house(s)recently?

Globe says Ivanhoe Mines watches Mongol government fall

2006-01-16 05:54 ET - In the News

The Globe and Mail reports in its Saturday, Jan. 14, edition that Mongolia's coalition government has collapsed. The Globe's Wendy Stueck writes in the Business Ticker column the government fell after Mongolia's parliament voted late Friday to accept the resignations of 10 members of a 17-member cabinet. All those who resigned belong to the Mongolian People's Revolutionary Party. The MPRP holds half the seats in Mongolia's 76-seat parliament. The political upheaval is being closely watched by Canadian resource companies with assets in Mongolia. One such company is Vancouver-based Ivanhoe Resources. Ivanhoe is developing the copper-gold Oyu Tolgoi project. The Mongolian parliament is considering amendments to its tax and mineral laws. Ivanhoe stock shed 30 cents to finish Friday in Toronto at $8.75. The stock has a 52-week trading range of $11.27 to $7.78. PricewaterhouseCoopers said in The Globe on May 31 that the mining sector outlook was bright. At the time Ivanhoe stock was trading at $9.15. BLC-Edmond de Rothschild Asset Management head Pierre Bernard rated Ivanhoe "buy" in The Globe on Jan. 14, 2005. At the time Ivanhoe stock was trading at $7.80.

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