Entrée Gold Inc. (AMEX:EGI) - Strategic Resource Exploration at its Finest
QualityStocks (July 1st, 2008) Writes:
Entrée Gold Inc. (EGI) is an American mining and exploration company with active copper and gold interests in both the United States and Mongolia. Of the company’s 179,000 hectares (or roughly 4.5 million acres) of prime mining property, 40,000 have been thoroughly explored and shown to be extremely promising.
The land is part of a joint venture between EGI and Ivanhoe Mines, Ltd., and is known as the Oyu Tolgoi development project located in Southern Mongolia’s Gobi Desert. The resources contained in this stake are estimated to be more than four billion pounds of copper, and over two million ounces of gold. On an added note, Ivanhoe is a world mining leader, and has been associated with other multi-billion dollar superpowers such as Rio Tinto in the past. Both Rio Tinto and Ivanhoe own roughly fifteen percent of Entrée Gold, Inc. Partnership with these companies all but ensures EGI’s potential
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Finally some good news, Saudi Arabia is ready to pump more than 9.7 million barrels per day (bpd) of oil for the rest of this year if there is demand, and could add an extra 2.5 million bpd of capacity above a current plan to reach 12.5 million bpd by the end of next year, Oil Minister Ali al-Naimi said at an emergency meeting of oil producing/consuming nations in Jeddah on Sunday.
PERTH (Reuters) - U.S. crude futures fell over a dollar to near $134 a barrel on Monday after Saudi Arabia said at an emergency meeting over the weekend it was ready to increase oil output capacity by another 2.5 million barrels per day if there was demand.
* NYMEX crude for August delivery CLc1 fell was down 55 cents at $134.81 a barrel by 2238 GMT, ... 