Forex News
Entrée CEO Adams outlines board refresh and Mongolia trip
Entrée Resources CEO Chris Adams issued a shareholder letter on Sept. 28, saying he was appointed in July and had visited Mongolia in early September.
- Adams said he was appointed president and CEO in July.
- He visited Mongolia in early September with CFO Duane Lo.
- Entrée is targeting Q1 2027 for a technical report on Hugo North Extension Lifts 1 and 2.
Entrée Resources Ltd. issued a shareholder letter from President and CEO Chris Adams on Sept. 28. He said he was appointed in July and had since been meeting shareholders and other stakeholders.
Adams said he joined the board and audit committee as an independent director in January 2026. He also said he was selected by the board to lead the management team in Vancouver after Stephen Scott’s upcoming retirement was announced in May.
The company said it welcomed Sarah Strunk to the board in August as an independent director. It also said Richard Williams was elected at the 2026 annual general meeting in June.
Adams said he travelled to Mongolia at the start of September. Oyu Tolgoi LLC hosted him and CFO Duane Lo on a site visit in early September, and he also met the Mongolian Minister of Industry and Mineral Resources, local business leaders and in-country advisors.
Entrée said it is targeting Q1 2027 to complete and release a technical report on Oyu Tolgoi LLC’s updated resource model for Hugo North Extension Lifts 1 and 2. It said Oyu Tolgoi LLC expects an updated Lift 1 underground mine plan and production schedule to be completed in Q4 2026.
On the joint venture license transfers, Entrée said the partners updated valuation calculations in June and paid the license transfer tax to the Mongolian tax authority. The company said the parties are still seeking the tax payment certificate needed for registration of the transfer.
Entrée also said it has been engaging with shareholders and is working to increase investor relations activities and conference attendance after some investors asked for more frequent updates.
Adams said copper trades near all-time highs and that Oyu Tolgoi is ramping up to be the fourth largest copper mine in the world. He said the project has bottom-quartile operating costs and a large gold by-product.
Source: GlobeNewswire,