Thursday, July 15, 2010

Ivanhoe Mines (NYSE:IVN) Continues to Skyrocket

Ivanhoe Mines' (NYSE:IVN) shares continue to shoot up, gaining over $3 a share over the last five trading days. This week it's already up over 22 percent.

Although the future success of Ivanhoe centers on their Oyu Tolgoi mine in Mongolia, it's short term success does as well. The news that they are abandoning their agreement with Rio Tinto (NYSE:RTP) which had restricted them from bringing in new investors was behind this most recent surge in share price, especially over the last couple of days.

The Oyu Tolgoi mine is considered among the three most important in the world, and is the largest that hasn't been worked yet.

Ivanhoe is expected to become one of the major miners as production begins at the site, propelling them into the elite group, but more importantly, generating a lot of revenue and profits for shareholders.

It remains one of the major mining stories now, and should be for years into the future.

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