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TRQ - Turquoise Hill Resources: Another Twist In The Power Plant Story Increases Uncertainty
Turquoise Hill Resources Ltd.
Turquoise Hill (TRQ) has recently reported its first-quarter results and provided important updates on the updated mine design, potential financing, and the power plant in Mongolia. Without further ado, let's get to the most important parts of the report.
1. Turquoise Hill reported revenue of $131 million and net income of $19 million or $0.03 per share. The company had a negative operating cash flow of $24 million, as low gold sales put pressure on revenue. The company ended the quarter with $1.6 billion of cash on the balance sheet and $0.2 billion of project