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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Ivanhoe Mines Ltd    IVN   CA46579R1047

IVANHOE MINES LTD

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Robert Friedland Files Early Warning Report

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09/11/2019 | 10:20pm EDT

Singapore, Singapore--(Newsfile Corp. - September 11, 2019) - This news release is issued by Robert M. Friedland pursuant to the early warning requirements of Canada's National Instrument 62-104 and National Instrument 62-103 with respect to class A common shares ("common shares") of Ivanhoe Mines Ltd. ("Ivanhoe Mines").

Mr. Friedland has pledged as security 25,000,000 common shares, which constitutes 2.1% of the 1,191,733,687 common shares of Ivanhoe Mines currently issued and outstanding. Mr. Friedland's controlled affiliate, Newstar Advantage Ltd. ("Newstar") continues to be the registered owner of 135,570,260 common shares (which includes the pledged common shares) and Mr. Friedland continues to directly own 34,454,717 common shares, which in aggregate total 170,024,977 common shares, representing in aggregate approximately 14.3% of the common shares currently issued and outstanding. Mr. Friedland also may be deemed to own 2,525,000 common shares issuable on exercise of previously granted options, and as a result may be deemed to own, in aggregate, 172,549,977 common shares, representing approximately 14.5% of the 1,194,258,687 common shares then issued and outstanding on a partially-diluted basis.

The 25,000,000 common shares have been pledged as security for a loan made to Mr. Friedland by a third party commercial bank (the "Lender"). The common shares have been pledged pursuant to a Security Agreement with the Lender dated September 9, 2019 and corresponding Securities Account Control Agreement with the Lender and custodian dated September 9, 2019. The Lender has no rights to dispose of, sell, transfer or vote, any of the pledged common shares until such time as the pledge has been realized following an event of default under the loan.

For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to Ivanhoe Mines' profile on the SEDAR website (www.sedar.com), or contact Sam Kenny at (604) 689-8765. Ivanhoe Mines has an office at 654-999 Canada Place, Vancouver, British Columbia, Canada, V6C 3E1.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47748


© Newsfilecorp 2019
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Financials (USD)
Sales 2019 -
EBIT 2019 -44,7 M
Net income 2019 -1,00 M
Finance 2019 636 M
Yield 2019 -
P/E ratio 2019 -270x
P/E ratio 2020 -90,0x
EV / Sales2019 infx
EV / Sales2020 infx
Capitalization 3 216 M
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 5,54  $
Last Close Price 2,70  $
Spread / Highest target 350%
Spread / Average Target 105%
Spread / Lowest Target 12,6%
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Managers
NameTitle
Lars-Eric Johansson President & Chief Executive Officer
Robert Martin Friedland Executive Co-Chairman
Yu Feng Sun Non-Executive Co-Chairman
Mark Farren Executive Vice President-Operations
Martie Cloete Chief Financial Officer
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