|Turquoise Hill Resources - TRQ.t is advancing a 66% interest in the flagship Oyu Tolgoi Project, one of the world's largest copper-gold-silver mines. |
The Oyu Tolgoi Project represents an investment of over $ 8 billion
In Q3'17, the Company recorded net income attributable to owners of Turquoise Hill of $65.3 million or $0.03 per share.
Copper production in Q3'17 was essentially flat compared to Q2'17 while gold production increased 29.2% over Q2'17 due to higher head grades from the medium-grade stockpile and Phase 4A.
For Q3'17, Oyu Tolgoi's cost of sales was $2.43 per pound of copper sold; C1 cash costs were $1.83 per pound of copper produced and all-in sustaining costs were $2.76 per pound of copper produced.
Operating cash costs1 of $161.9 million for Q3'17 were relatively flat over Q2'17 while year-to-date operating cash costs of $494.0 million at the end of Q3'17 declined 17.7% over year-to-date Q3'16.
Turquoise Hill's cash and cash equivalents at September 30, 2017 were approximately $1.5 billion.