Phase 2 at Olympus to start
Turquoise Hill's principal asset is the Oyu Tolgoi copper-gold mine in Mongolia
"Unplanned down time is high due to ... recruitment and retention challenges"
The company now guides for 28,000-31,000 GEOs for the year, down from 32,000-35,000 GEOs
Drilling to increase
Says market "not conducive" to gold M&A
Previously guided 65,000-70,000 GEOs for this year
Earnings were fairly well in line with estimates
Adjusted EPS fell to $0.02 in Q2, down from $0.07 a year earlier
Q2 EBITDA was $57.9 million, up 5% year on year, while earnings per share fell $0.01 from $0.09
Performance rebounds, further improvement to come
Gold AISC up 76%, underground hit by costs
Firm cuts output guidance, lifts AISC
Gas royalties counter lower gold revenue
Some revenues will be deferred into Q3 as a result
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