Turquoise Hill says Odey’s letter contains false assumptions

Reuters

Nov 26 (Reuters) – Turquoise Hill Resources Ltd said on Thursday hedge fund Odey Asset Management’s letter to its majority owner Rio Tinto contained a number of false assumptions and misinformation about the company and its funding plan.

“Odey has a clear financial motive to depress Turquoise Hill’s share price,” Turquoise Hill said.

Odey had said it did not believe the $4.4 billion project finance package related to the Oyu Tolgoi copper mine in Mongolia is accurately described as “project” finance.

Odey did not immediately respond to Reuters’ request for comment. (Reporting by Praveen Paramasivam in Bengaluru; editing by Diane Craft)

About batawdc-ot 5 Articles
Analyst on Oyutolgoi Project Advisor to CEO, ABB Consulting LLC Master of Science, Mathematics, National University of Mongolia Master of Business Administration, Maastricht School of Management, the Netherlands

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