Ivanhoe Mines to list on the New York Stock Exchange
January 10 2005 - 7:30AM
PR Newswire (US)
Ivanhoe Mines to list on the New York Stock Exchange NEW YORK, Jan.
10 /PRNewswire-FirstCall/ -- Ivanhoe Mines' Chairman Robert
Friedland announced today that the company will list its common
shares on the New York Stock Exchange (NYSE) and trading is
expected to begin on January 18, 2005, under the ticker symbol IVN.
Ivanhoe Mines is not issuing any new shares or raising any new
capital as part of the NYSE listing. The company has a current
market capitalization of approximately US$2.1 billion. Ivanhoe
Mines' shares also trade on the Toronto and Australian stock
exchanges under the symbol IVN. The company's shares are currently
listed on the NASDAQ Stock Market under the ticker symbol HUGO;
however, concurrent with the NYSE listing, the company's shares
will be voluntarily removed from NASDAQ. "Ivanhoe Mines is
committed to raising its profile among international investors and
potential global partners. Listing on the New York Stock Exchange
will provide an excellent platform to highlight to the financial
and mining community our exceptional Mongolian copper, gold and
coal mining projects - strategically located on the northern
doorstep of the world's largest consumer and importer of minerals -
China," said Mr. Friedland. The NYSE is the largest equities
marketplace in the world. It is home to some 2,800 companies with a
total global market capitalization of US$20 trillion. Ivanhoe
Mines, with mining operations in the Asia Pacific region, is a
producer of copper, gold and iron ore products. Ivanhoe Mines' core
assets are its 100%-owned Oyu Tolgoi (Turquoise Hill) copper and
gold project in southern Mongolia and exploration rights that it
holds or controls covering approximately 118,000 square kilometres
in central and southern Mongolia, where additional discoveries of
copper, gold and coal are being evaluated. Ivanhoe also is
exploring in the Chinese province of Inner Mongolia and in
Australia. Ivanhoe produces LME grade A copper from its Monywa
joint venture in Myanmar and iron ore products from ABM Mining's
Savage River mine in Australia. More information about the company,
its mining operations and exploration projects is available at
http://www.ivanhoemines.com/. Information contacts: Investors: Bill
Trenaman: +1.604.688.5755 / Media: Bob Williamson: +1.604.688.5755
FORWARD-LOOKING STATEMENTS: This document includes forward-looking
statements regarding Ivanhoe Mines' plans. Forward-looking
statements include, but are not limited to, statements concerning
the expected listing of Ivanhoe's shares on the NYSE and the
removal of Ivanhoe shares from NASDAQ. When used in this document,
the words such as "could," "plan," "estimate," "expect," "intend,"
"may," "potential," "should," and similar expressions are
forward-looking statements. Although Ivanhoe Mines believes that
its expectations reflected in these forward-looking statements are
reasonable, such statements involve risks and uncertainties and no
assurance can be given that actual results will be consistent with
these forward-looking statements. Important factors that could
cause actual results to differ from these forward-looking
statements are disclosed under the heading "Risk Factors" and
elsewhere in the corporation's periodic filings with Canadian, US
and Australian securities regulators. DATASOURCE: Ivanhoe Mines
Ltd. CONTACT: Investors: Bill Trenaman: (604) 688-5755/Media: Bob
Williamson: (604) 688-5755
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