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TRQ - Why Shares of Turquoise Hill Resources Are Soaring Today
Turquoise Hill Resources Ltd.
Finding themselves uncertain about Turquoise Hill (NYSE: TRQ) and the future of Oyu Tolgoi, the company's sole operating asset, investors are finding that the days ahead may be a little more lustrous for the copper-producing asset. Rio Tinto (NYSE: RIO) , which also has a vested interest in Oyu Tolgoi, has made an offer to the government of Mongolia to assist in the financing of the asset's development.
As of 12:06 p.m. ET, shares of Turquoise Hill are up 13%, having retreated from an earlier rise of 17.7%.