TRQ - Turquoise Hill says Odey's letter contains funding plan misinformation

Turquoise Hill Resources ([[TRQ]] +5.6%) says Odey Asset Management's letter to its majority owner Rio Tinto ([[RIO]] -0.5%) contained several false assumptions and misinformation about the company and its funding plan, adding that the hedge fund "has a clear financial motive to depress Turquoise Hill's share price."Turquoise Hill shares sank more than 9% on Wednesday after Odey criticized the management of the Oyu Tolgoi copper mine in Mongolia and said it did not believe the $4.4B package related to the project could be described accurately as "project" finance.The company says an additional $1.1B would need to be sourced with further bank debt, bonds or a metal stream if it and Rio Tinto re-profile existing debt and raise an additional $500M of debt as contemplated; without the re-profiling, additional debt or a hybrid financing, Turquoise says it would need to raise additional equity of at least $3B.Rio Tinto is "primed for

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Turquoise Hill says Odey's letter contains funding plan misinformation