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TRQ - Turquoise Hill Has Good Chances To Continue Its Upside Move Above $1.00
Turquoise Hill Resources Ltd.
Back in July, I wrote that Turquoise Hill (TRQ) has good chances to get above $1.00. Now that the stock has breached the $1.00 level after the company increased gold production guidance for 2021, it’s high time to revisit the thesis.
Turquoise Hill reported that its gold production outlook for 2021 was increased from 450,000 – 500,000 ounces to 500,000 – 550,000 ounces. The company noted that the production increase was a result of initiatives that allowed to get to higher grade gold ore faster than previously planned. Obviously, Turquoise Hill decided to