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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 operational metrics for Q1’19 are as follows:

Oyu Tolgoi Production Data

All data represents full production and sales on a 100% basis

 

 

1Q

2018

2Q

2018

3Q

2018

4Q

2018

1Q

2019

Full Year

2018

 

 

 

 

 

 

 

Open pit material mined (‘000 tonnes)

23,131

22,792

22,523

22,863

23,943

91,310

Ore treated (‘000 tonnes)

9,561

10,164

9,652

9,361

9,255

38,738

Average mill head grades:

 

 

 

 

 

 

     Copper (%)

0.51

0.48

0.51

0.55

0.57

0.51

     Gold (g/t)

0.25

0.26

0.38

0.56

0.58

0.36

     Silver (g/t)

1.32

1.17

1.19

1.22

1.25

1.22

Concentrates produced (‘000 tonnes)

177.3

178.8

179.8

189.0

210.1

724.9

     Average concentrate grade (% Cu)

21.9

22.0

21.9

21.9

21.8

21.9

Production of metals in concentrates:

 

 

 

 

 

 

     Copper (‘000 tonnes)

38.8

39.4

39.4

41.5

45.8

159.1

     Gold (‘000 ounces)

42

50

77

117

120

285

     Silver (‘000 ounces)

221

225

230

238

247

914

Concentrates sold (‘000 tonnes)

163.1

220.0

171.9

191.4

184.9

746.4

Sales of metals in concentrates:

 

 

 

 

 

 

     Copper (‘000 tonnes)

34.3

46.1

36.0

40.2

38.5

156.7

     Gold (‘000 ounces)

31

51

55

111

98

248

     Silver (‘000 ounces)

206

250

201

216

200

873

Metal recovery (%)

 

 

 

 

 

 

     Copper

79.5

79.7

80.9

84.8

83.8

81.4

     Gold

55.0

59.8

64.7

71.7

70.1

65.2

     Silver

54.6

58.4

62.8

67.1

63.2

60.9

 

Key financial metrics for Q1’19 are as follows:

 

Oyu Tolgoi Key Financial Metrics(1)

 

($ in millions, unless otherwise noted)

1Q

2018

2Q

2018

3Q

2018

4Q

2018

1Q

2019

Full Year

2018

 

 

 

 

 

 

 

Revenue

245.6

341.7

246.5

346.2

352.7

1,180.0

Revenue by metals in concentrates

 

 

 

 

 

 

    Copper

202.1

273.7

180.4

210.3

223.9

866.5

    Gold

40.3

64.1

63.3

132.7

125.7

300.4

    Silver

3.2

4.0

2.9

3.0

3.1

13.1

Cost of sales

168.9

239.6

181.0

187.7

169.1

777.2

    Production and delivery costs

114.6

174.2

135.9

143.3

126.0

568.0

    Depreciation and depletion

55.6

64.1

45.2

44.6

44.6

209.5

Capital expenditure on cash basis

285.7

318.0

328.8

371.8

325.3

1,304.3

    Underground

270.5

291.2

304.8

347.3

296.4

1,213.8

    Open pit(2)

15.2

26.8

24.0

24.5

28.9

90.5

Royalties

14.9

20.3

15.5

20.1

19.7

70.8

Operating cash costs(3)

176.6

201.7

196.4

242.3

198.1

817.1

Unit costs ($)

 

 

 

 

 

 

    Cost of sales (per pound of copper sold)

2.23

2.36

2.28

2.12

1.99

2.25

    C1 (per pound of copper produced)(3)

1.76

1.72

1.65

1.24

0.77

1.59

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

2.07

2.42

2.29

2.01

1.45

2.20

    Mining costs (per tonne of material mined)(3)

1.94

2.12

2.18

2.28

2.10

2.13

    Milling costs (per tonne of ore treated)(3)

7.42

6.70

7.38

6.82

8.06

7.11

    G&A costs (per tonne of ore treated)

1.90

2.25

3.43

4.55

3.65

3.03

 

 (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.

 

Symbol TRQ.TO
Last $0.59
High $0.63
Year High $2.88
Bid $0.60
Volume 2,418,352
Market Capitalization $1187262848
Open $0.60
Low $0.59
Year Low $0.53
Ask $0.61
Change 0.00 (0.00%)
As of September 22, 2019 02:51 am PDT
Symbol TRQ.TO
Last $0.46
High $0.47
Year High $2.22
Bid $0.45
Volume 2,639,540
Market Capitalization $923843584
Open $0.45
Low $0.44
Year Low $0.40
Ask $0.47
Change 0.02 (3.46%)
As of September 22, 2019 02:51 am PDT

Latest Metrics

0.09 AIFR per 200,000 hours worked
45,800 T Q1'19 copper production
120,000 Oz Q1'19 gold production
$352.7 Q1'19 revenue
$0.77/lb Cu Q1'19 C1 cash costs
2.3 Km Q1'19 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

Roy McDowall

Investor Relations

+1.514.848.1506  
Roy.McDowall@Turquoisehill.com
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