Ivanhoe tops up till

Robert Friedland-run Ivanhoe Mines (IVN-T) has raised $56.7 million by issuing 17.4 million shares at $3.25 apiece.

The financing, announced only weeks ago, was underwritten by Griffiths McBurney & Partners, HSBC Securities and Haywood Securities.

Proceeds are earmarked for ongoing exploration and development programs at Ivanhoe’s various properties in South East Asia. Among them is Turquoise Hill, in Mongolia, where drilling has intercepted chalcocite-enriched mineralization in a large porphyry system (T.N.M., March 11/02).

Ivanhoe now has roughly US$65 million, plus US$15 million worth of marketable securities.