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Turquoise Hill (TRQ: TSX, NYSE, NASDAQ) is an international mining company focused on the operation and further development of the Oyu Tolgoi copper-gold mine in southern Mongolia, which is the Company’s principal and only material mineral resource property. Turquoise Hill’s ownership of the Oyu Tolgoi mine is held through a 66% interest in Oyu Tolgoi LLC; the remaining 34% interest is held by Erdenes Oyu Tolgoi LLC, a Mongolian state-owned entity.

KEY STATISTICS¹

 

3Q

2017

4Q

2017

1Q

2018

2Q

2018

3Q

2018

9 months

2018

9 months

2017

Full Year

2017

Operating results

 

 

 

 

 

 

 

 

Open pit material mined (‘000 tonnes)

27,466

28,929

23,131

22,792

22,523

68,446

76,992

105,921

Ore treated (‘000 tonnes)

10,615

10,838

9,561

10,164

9,652

29,377

30,339

41,177

Average mill head grades:

 

 

 

 

 

 

 

 

  Copper (%)

0.48

0.53

0.51

0.48

0.51

0.50

0.50

0.51

  Gold (g/t)

0.18

0.20

0.25

0.26

0.38

0.29

0.16

0.17

  Silver (g/t)

1.34

1.54

1.32

1.17

1.19

1.22

1.34

1.39

Concentrates produced (‘000 tonnes)

170.0

205.4

177.3

178.8

179.8

535.9

517.0

722.5

  Average concentrate grade (% Cu)

21.7

22.0

21.9

22.0

21.9

21.9

21.7

21.8

Production of metals in concentrates:

 

 

 

 

 

 

 

 

  Copper (‘000 tonnes)

36.9

45.3

38.8

39.4

39.4

117.6

112.1

157.4

  Gold (‘000 ounces)

31

35

42

50

77

169

80

114

  Silver (‘000 ounces)

239

285

221

225

230

676

689

974

Concentrates sold (‘000 tonnes)

176.6

175.5

163.1

220.0

171.9

555.0

548.8

724.3

Sales of metals in concentrates:

 

 

 

 

 

 

 

 

  Copper (‘000 tonnes)

36.9

35.7

34.3

46.1

36.0

116.4

113.6

149.3

  Gold (‘000 ounces)

29

27

31

51

55

137

84

111

  Silver (‘000 ounces)

229

205

206

250

201

657

656

860

Metal recovery (%)

 

 

 

 

 

 

 

 

  Copper

73.5

78.0

79.5

79.7

80.9

80.1

74.3

75.4

  Gold

51.2

50.5

55.0

59.8

64.7

61.2

49.4

49.7

  Silver

52.8

53.0

54.6

58.4

62.8

58.4

51.8

52.9

 

 

 

 

 

 

 

 

 

Financial results ($ in millions, unless otherwise noted)

 

 

 

 

 

 

 

 

Revenue

246.9

251.7

245.6

341.7

246.5

833.9

688.1

939.8

Revenue by metals in concentrates

 

 

 

 

 

 

 

 

  Copper

209.2

216.1

202.1

273.7

180.4

656.1

579.5

795.6

  Gold

34.2

32.5

40.3

64.1

63.3

167.6

98.3

130.8

  Silver

3.5

3.2

3.2

4.0

2.9

10.1

10.3

13.4

Operating cash flow

94.7

91.1

14.7

149.6

52.5

216.9

234.7

325.8

Cost of sales

197.8

182.7

168.9

239.6

181.0

589.5

581.0

763.8

  Production and delivery costs

123.4

106.6

114.6

174.2

135.9

424.6

361.8

468.4

  Depreciation and depletion

77.4

73.4

55.6

64.1

45.2

164.9

230.7

304.1

Capital expenditure on cash basis

234.0

330.4

285.7

318.0

328.8

932.6

587.1

917.5

  Underground

205.6

309.0

270.5

291.2

304.8

866.5

526.7

835.7

  Open pit ²

28.4

21.4

15.2

26.8

24.0

66.0

60.4

81.8

Royalties

14.5

15.8

14.9

20.3

15.5

50.7

41.4

57.1

Operating cash costs³

161.9

217.7

176.6

201.7

196.4

574.8

494.0

711.6

Unit costs ($)

 

 

 

 

 

 

 

 

  Cost of sales (per pound of copper sold)

2.43

2.32

2.23

2.36

2.28

2.30

2.32

2.32

  C1 (per pound of copper produced) ³

1.83

2.05

1.76

1.72

1.65

1.71

1.87

1.92

  All-in sustaining (per pound of copper produced) ³

2.76

2.40

2.07

2.42

2.29

2.26

2.39

2.39

 

 

 

 

 

 

 

 

 

Financial position

 

 

 

 

 

 

 

 

Cash and cash equivalents ($’000,000)

1,485.5

1,444.8

1,498.4

1,463.3

1,520.6

 

 

1,444.8

 

(1) Any financial information in this press release should be reviewed in conjunction with the Company‘s consolidated financial statements or condensed interim consolidated financial statements for the reporting periods indicated.

(2) Open-pit capital expenditure includes both sustaining and non-underground development activities.

(3) Please refer to the NON-GAAP MEASURES section of this press release for further information.

Third Quarter 2018 Key Statistics (PDF)

Symbol TRQ.TO
Last $2.46
High $2.58
Year High $4.52
Bid $2.45
Volume 775,724
Market Capitalization $4950282752
Open $2.53
Low $2.42
Year Low $2.21
Ask $2.48
Change -0.08 (-3.15%)
As of November 19, 2018 11:26 pm PST
Symbol TRQ.TO
Last $1.88
High $1.96
Year High $3.59
Bid $0.00
Volume 2,967,880
Market Capitalization $3762444032
Open $1.94
Low $1.84
Year Low $1.68
Ask $0.00
Change -0.06 (-3.09%)
As of November 19, 2018 11:26 pm PST

Latest Metrics

0.19 AIFR per 200,000 hours worked
39,400 T Q2'18 copper production
50,000 Oz Q2'18 gold production
$341.7M Q2'18 revenue
$1.72/lb Cu Q2'18 C1 cash costs
2.1 Km Q2'18 lateral development

Contact

Transfer Agent & Registrars

AST Trust Company (Canada)
Attn: Manager, Client Relations
1600 - 1066 West Hastings Street
Vancouver, BC, Canada
V6E 3X1

Office: +1 604 648 3934
Mobile: +1 778 238 8590
Website: www.canstockta.com
inquiries@canstockta.com

Tony Shaffer

Investor Relations

Office: +1 604 648 3934
Mobile: +1 778 238 8590
tony.shaffer@turquoisehill.com
© 2018 Turquoise Hill Resources
All rights reserved.