Ivanhoe Mines Ltd (IVPAF)

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August 21, 2018


VANCOUVER, British Columbia, Aug. 21, 2018 (GLOBE NEWSWIRE) -- Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) announced today that the CITIC Metal Co., Ltd. C$723 million (approximately US$553 million) private placement remains on track to close in September. The placement is subject only to customary closing conditions, and recordals and registration with certain Chinese government regulatory agencies. In addition, Ivanhoe’s joint-venture partner at the Kamoa-Kakula Project, Zijin Mining Group Co., Ltd., has exercised its existing anti-dilution rights, which will result in additional proceeds of C$78 million (approximately US$60 million) that Ivanhoe will receive concurrently with the completion of CITIC Metal’s investment. Ivanhoe Mines has approximately US$165 million of current working capital.

Ivanhoe expects to provide an update on its exploration programs in September.