Turquoise Hill (TRQ) has just announced its fourth-quarter production numbers and provided guidance for 2020. The stock has recently had material upside after the Mongolian parliament approved the resolution that instructed the government to improve investment agreements for Oyu Tolgoi (I wrote about it here). Now, it’s time to look at what happened on the operational front.
The company reported full-year copper production of 146,346 tons (most recent guidance was 125,000 – 155,000 tons) and gold production of 241,840 ounces (most recent guidance was “up to 230,000 ounces”). This is a strong