TRQ - Turquoise Hill -23% as Mongolia warns on Oyu Tolgoi project viability

Turquoise Hill Resources ([[TRQ]] -23.3%) shares plummet to their lowest in a month after the miner says Mongolia's government is "dissatisfied" with the results of the Oyu Tolgoi definitive estimate, which was completed and delivered by Rio Tinto ([[RIO]] -3.3%) last month.Turquoise Hill says the government is concerned that the significant increase in the development costs of the Oyu Tolgoi project has eroded the economic benefits it expected to receive, and has indicated that if the Oyu Tolgoi project is not economically beneficial to the country, it would be necessary to review and evaluate whether it can proceed.Oyu Tolgoi is jointly owned by the Mongolian government with 34% and Turquoise Hill with 66%, of which Rio Tinto owns a 50.8% controlling interest.Turquoise Hill recently said it is reviewing funding options for Oyu Tolgoi, including a gold streaming deal, a gold pre-sale transaction and a medium-term debt offering.

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Turquoise Hill -23% as Mongolia warns on Oyu Tolgoi project viability