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Stock Market & Financial Investment News

News Breaks
June 23, 2014
07:46 EDTRIO, TRQOyu Tolgoi receives audit report from Mongolian Tax Authority
Turquoise Hill (TRQ) announced that Oyu Tolgoi has received an audit report from the Mongolian Tax Authority claiming unpaid taxes, penalties and disallowed entitlements associated with the initial development of the Oyu Tolgoi mine. Turquoise Hill is of the firm view that Oyu Tolgoi has paid all taxes and charges as required under the Investment Agreement and Mongolian law. Turquoise Hill and Rio Tinto (RIO) are reviewing the detailed tax claim. Any element of the claim that amounts to a breach of the investment agreement will trigger the dispute resolution process outlined in the investment agreement including possible international arbitration. The impact of these claims on resolution of the outstanding shareholder issues is unclear at this time. However, completion of the underground feasibility study is likely to be delayed if a resolution to the tax matters is not reached before June 30. Turquoise Hill CEO Kay Priestly said, "We strongly disagree with the claims in the audit report and are currently reviewing all options to resolve this matter."
News For TRQ;RIO From The Last 14 Days
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December 21, 2014
19:22 EDTRIOFalling commodity prices, valuations may spur rebound in mining deals, FT says
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December 18, 2014
18:36 EDTTRQTurquoise Hill returns to production at Oyu Tolgoi after fire
Turquoise Hill's operations at the Oyu Tolgoi concentrator recommenced after three days on December 6, with both SAG mills and three of four ball mills now operating. Repairs to the concentrator's damaged cyclone pack are progressing well and are expected to be complete in three to four weeks. Turquoise Hill expects to meet its 2014 production guidance.
18:34 EDTTRQTurquoise Hill provides 2015 production guidance
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06:52 EDTRIOVale attempt to dismiss Rio Tinto suit rejected, WSJ says
Vale's (VALE) attempt to have a lawsuit filed against it by Rio Tinto (RIO) was rejected by U.S. Southern District of New York Judge Richard M. Berman, reports the Wall Street Journal. Judge Berman also rejected Vale's argument that the case should be tried in an English court, the Journal adds. Reference Link
December 17, 2014
08:00 EDTTRQTurquoise Hill announces dismissal of class action lawsuit
Turquoise Hill announced that District Court Judge Lorna G. Schofield dismissed the consolidated putative securities class action lawsuit that had been filed in the Southern District of New York against the company and certain of its officers and directors in December 2013. The lawsuit sought to recover damages that it claimed were attributable to alleged misstatements about the company's financial performance┬ arising out of revisions to its recognition of revenue on coal sales made by its partially-owned subsidiary, SouthGobi Resources, Ltd., as previously disclosed on November 8, 2013.
December 15, 2014
09:31 EDTRIORio, BHP looking to raise copper output, Reuters says
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07:36 EDTRIORio Tinto shares look undervalued, says Bernstein
After iron ore prices sank 48% this year, Bernstein thinks that Rio Tinto would be resilient even if iron ore prices dropped much further. The firm believes that the market is applying a significant discount to the stock, making the shares undervalued. It has a $63.20 price target and Outperform rating on the shares.

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