Topic: How To Invest

Hi Pat: What is your opinion on Ivanhoe Mines? Thanks.

Article Excerpt

Ivanhoe Mines, $9.50, symbol IVN on Toronto (Shares outstanding: 378.2 million; Market cap: $3.6 billion), is an international mining company that focuses on the Asia-Pacific region. Ivanhoe’s main asset is its Oyu Tolgoi copper-and-gold project in southern Mongolia. Oyu Tolgoi, located about 80 kilometres north of the border with China, is one of the world’s largest undeveloped copper-gold deposits. Ivanhoe estimates the project contains 78.9 billion pounds of copper and 45.2 million ounces of gold. Ivanhoe also holds an 80% interest in Mongolian coal miner SouthGobi Energy Resources (symbol SGQ on Toronto), and 83% of Australian Stock Exchange-listed Ivanhoe Australia, which develops and explores for copper, gold and uranium. Ivanhoe Mines is also exploring for copper and gold deposits in China. In October 2006, mining giant Rio Tinto agreed to form a strategic partnership with Ivanhoe to jointly engineer, build and operate a mine at Oyu Tolgoi. Under the agreement, Rio Tinto has invested $303 million in Ivanhoe, which gives it a..