Source: Mineweb.com                          Date: 19 August, 2010

As the company's revenue increased from USD10.7 million during the second quarter of 2009 to USD17.7 million during the second quarter of this year, Ivanhoe Mines reported a net loss of USD30 million during the second-quarter 2010. Exploration expenses, which often represent the majority of Ivanhoe's operating losses, increased USD4.3 million during the second quarter to USD39.5 million. These included USD23.2 million spent on the Oyu Tolgoi and Ovoot Tolgoi projects.

During the second quarter of this year Ivanhoe's net loss increased USD5.1 million more than the net loss of USD24.9 million in the same period last year. Ivanhoe's cash position was reported at USD1.4 billion as of August 16.