IVN.TO 1 Year (Stockwatch.com)

IVN.TO 1 Year (Stockwatch.com)

Robert Friedland's Ivanhoe Mines (TSX:IVN) announced 2013 year end results and a review of operations this morning in a detailed news release. So far the market is taking the $484.29 million loss in stride as shares in the company are up 1.1% at press time, last at $1.78. Ivanhoe's estimated net cash at year end was US $123 million. The company did issue a slight warning about its Platreef project in South Africa, which is expecting its Mining Right in May, 2014. The Mining Right will allow Ivanhoe to mine the site for 30 years, however if it is not received by May 31, 2014, all work will have to be suspended at the project, including ongoing drilling, and the sinking of a planned 800 meter bulk sample shaft. Ivanhoe are confident they will get the Right in time, however federal elections in South Africa, scheduled for May 7, 2014, could delay Ivanhoe's plans. That would certainly hurt the stock in the short term.

Here's the news release: IVANHOE MINES ISSUES 2013 YEAR-END RESULTS AND REVIEW OF OPERATIONS

Disclosure: I own IVN.TO stock which makes me biased. This is an opinion and not advice. Always do your own due diligence. Thank you.