05:15 PM EST, 02/03/2025 (MT Newswires) -- Entree Resources ( ERLFF ) after close of trade Monday said it a joint-venture agreement with Oyu Tolgoi LLC has been formally executed and delivered by the two parties.

The pair have been operating under the agreement since formation of the Entree/Oyu Tolgoi joint venture in June, 2008.

"I am extremely happy that the Joint Venture Agreement has finally been executed after 16 years of operation," said Entree chief executive Stephen Scott. "Despite being a formality, execution is a necessary step to enable the parties to initiate the transfer of the Joint Venture licenses to OTLLC in accordance with applicable Mongolian laws and as provided for under the Joint Venture Agreement."

Entree shares closed down $0.08 to $2.48 on the Toronto Stock Exchange.