05:31 PM EST, 12/19/2024 (MT Newswires) -- Entree Resources Ltd. ( ERLFF ) , which rose to near 52 week highs today, after trade Thursday announced that a partial final award was made by the three-member international arbitration Tribunal appointed in connection with the company's binding arbitration proceedings against its joint venture partner Oyu Tolgoi LLC and Turquoise Hill Resources.

A statement noted the Tribunal has ruled in favor of Entree on all issues and dismissed the respondents' counterclaims.

Stephen Scott, the company's President & CEO, said: "This Award represents a tremendous outcome for the company and provides much needed certainty for all Oyu Tolgoi project stakeholders as we endeavor to keep Lift 1 Panel 1 development work on schedule."

Thursday's statement noted the Tribunal reserved Entree's claims for specific performance, and in the alternative equitable damages, and the issue of costs, to a subsequent award. The company said it is currently considering potential next steps and will update the market in due course.

ETG closed up $0.11 or 5% to $2.31, leaving it shy of a 52 week high of $2.39.