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TRQ - Turquoise Hill: Q2 Report Comes With No Upside Catalysts
Turquoise Hill Resources Ltd.
Turquoise Hill (TRQ) shares have taken a major beating following the release of the second-quarter production report, in which the company stated that the current mine design had stability risks and that capex for the project will increase by $1.2 billion - $1.9 billion, which first production will come between May 2022 and June 2023. The release of the second-quarter earnings report and the subsequent earnings call provided a chance for the company to explain what’s happening to its disappointed investors.
Turquoise Hill reported revenue of $383 million and loss of $737 million. The