Ivanhoe Mines Ltd. (IVN) has retained advisers to help it
evaluate a range of options over the coming months to enhance
shareholder value.
The Vancouver-based mineral-development company said it will
look at potential debt/equity offerings, a credit facility, the
sale of subsidiaries, equity investments, projects financing and
other corporate transactions.
The advisers are global investment-banking firm Citi and Hatch
Corporate Finance, an adviser serving the mining sector.
Ivanhoe is best known for its big Oyu Tolgoi copper-gold mine in
Mongolia, which it's developing in partnership with
Anglo-Australian mining giant Rio Tinto PLC (TRP). Rio Tinto last
year boosted its stake in Ivanhoe to just under 20% after
Mongolia's government signed an investment agreement for the $4
billion Oyu Tolgoi mine. Rio Tinto can boost its stake further
under the current financing agreement between the companies.
Ivanhoe said in October that it had adequate capital for its
current development plans and spending commitments, and was
therefore deferring consideration of the sale of a stake totaling
up to 9.9% in Ivanhoe to one or two strategic partners.
In addition to the Oyu Tolgoi project, Ivanhoe owns a 79% stake
in SouthGobi Energy Resources Ltd. (SBQ.T), an 83% stake in Ivanhoe
Australia Ltd. (IVA.AU) and a 49% stake in Altynalmas Gold Ltd.
In New York Tuesday, Ivanhoe closed up 2.5% at $16.09.
-By Carolyn King, Dow Jones Newswires; 416-306-2100;
carolyn.m.king@dowjones.com