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Prairie Provident Resources Announces First Quarter 2026 Results
The company said licence transfer talks with Mongolia remain focused on enabling underground development, while first-quarter cash outflow held at $0.6 million.
On Thursday, Entrée Resources filed its first-quarter 2026 financial results, continuing efforts to transfer the Shivee Tolgoi and Javkhlant mining licences from its subsidiary to Oyu Tolgoi LLC .
Transferring these licences to OTLLC is necessary to enable Lift 1 Panel 1 underground development work on the Shivee Tolgoi mining licence area, as mandated by the 2009 Oyu Tolgoi Investment Agreement .
Entrée LLC requested a withdrawal of its court claim on March 24, 2026, advising the court the joint venture will resubmit valuation calculations to the Mongolian tax authority after paying corporate income taxes.
On March 25, 2026, the company delivered a non-binding proposal to the Minister of Industry and Mineral Resources of Mongolia, who leads the Government Working Group established to negotiate the State's interest in the licences.
Approval of a 2026 in-fill diamond drilling program at the Hugo North Extension deposit authorizes approximately 9,136 metres of drilling on the Shivee Tolgoi mining licence to support resource estimation and geotechnical characterization.