Gary Bourgeault
Long only, research analyst, portfolio strategy, media

Turquoise Hill May Double In A Month

A couple of reports point to the possibility Turquoise Hill (NYSE:TRQ) may be close to coming to an agreement with the Mongolian government over terms associated with the Oyu Tolgoi copper and gold mine.

One of the reports points to Rio Tinto (NYSE:RIO), which owns 50.8% of Turquoise, being close to buying up the rest of the shares it doesn't own in the company for about $8.00 a share, presumably once an agreement is reached. With the share price standing at a little over $4.00 as of this writing, that would just about double any investment made at this time if the report is accurate. Turquoise owns 66% of Oyu Tolgoi, with Mongolia owning the remaining...

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