The first-quarter net loss of Ivanhoe Mines has more than
tripled, due largely to a USD154 million loss on the conversion of a
convertible credit facility. The Canadian company, which is developing Oyutolgoi
but does not yet mine from it, lost USD193.9 million compared with a
year-before loss of USD56 million.

Revenue rose to USD13.9 million from USD3.5 million,
thanks to coal sales at the company”s SouthGobi Energy Resources
subsidiary.  Ivanhoe has unveiled an
updated plan for Oyutolgoi.