Turquoise Hill announces first quarter 2018 production

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Algemeen advies 18/04/2018 06:24
Turquoise Hill Resources today announced first quarter 2018 production for Oyu Tolgoi.
Jeff Tygesen, Chief Executive Officer of Turquoise Hill, said, “Oyu Tolgoi’s first quarter production was in line with expectations. Planned concentrator maintenance occurred in January reducing mill throughput for the quarter; however the impact was partially offset by increases in recovery, particularly for gold. With the initial processing of ore from Phase 4A, we are starting to see increased gold grades, recovery and production compared to last year.”
Material mined decreased 20.0% over Q4’17 due to winter weather effects in January as well as dig-unit maintenance work during the quarter. Mill throughput decreased 11.8% over Q4’17 due to the January planned maintenance. Copper production in Q1’18 decreased 14.3% over Q4’17 mainly due to lower throughput and slightly lower grades. Gold production increased 20.0% over Q4’17 due to higher gold grades from Phase 4A and an increase in recovery.
Oyu Tolgoi is expected to produce 125,000 to 155,000 tonnes of copper and 240,000 to 280,000 ounces of gold in concentrates for 2018.

Oyu Tolgoi Production Data
All data represents full production and sales on a 100% basis
1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 Full Year 2017
Open pit material mined (‘000 tonnes) 24,333 25,193 27,466 28,929 23,131 105,921
Ore treated (‘000 tonnes) 10,087 9,637 10,615 10,838 9,561 41,177
Average mill head grades:
Copper (%) 0.51 0.51 0.48 0.53 0.51 0.51
Gold (g/t) 0.15 0.16 0.18 0.20 0.25 0.17
Silver (g/t) 1.30 1.38 1.34 1.54 1.32 1.39
Concentrates produced (‘000 tonnes) 176.0 171.0 170.0 205.4 177.3 722.5
Average concentrate grade (% Cu) 21.6 21.8 21.7 22.0 21.9 21.8
Production of metals in concentrates:
Copper (‘000 tonnes) 38.1 37.2 36.9 45.3 38.8 157.4
Gold (‘000 ounces) 25 24 31 35 42 114
Silver (‘000 ounces) 215 236 239 285 221 974
Concentrate sold (‘000 tonnes) 190.2 182.0 176.6 175.5 163.1 724.3
Sales of metals in concentrates:
Copper (‘000 tonnes) 39.5 37.3 36.9 35.7 34.3 149.3
Gold (‘000 ounces) 32 23 29 27 31 111
Silver (‘000 ounces) 205 222 229 205 206 860
Metal recovery (%)
Copper 74.9 74.6 73.5 78.0 79.5 75.4
Gold 48.8 47.7 51.2 50.5 55.0 49.7
Silver 51.8 53.9 52.8 53.0 54.6 52.9

Forward-looking statements
Certain statements made herein, including statements relating to matters that are not historical facts and statements of the Company's beliefs, intentions
and expectations about developments, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning
of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking statements and information relate to future events or future performance, reflect current
expectations or beliefs regarding future events and are typically identified by words such as "anticipate", "could", "should", "expect", "seek", "may", "intend",
"likely", "plan", "estimate", "will", "believe" and similar expressions suggesting future outcomes or statements regarding an outlook. These include, but are not limited to, statements about anticipated business activities, planned expenditures, corporate strategies, and other statements that are not historical facts. etc. etc..



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