Entrée has been actively seeking quality projects in China for several years. Vast, prospective areas of China remain under-explored or unexplored using modern technology and offer attractive exploration opportunities. In November 2007, Entree entered into an agreement with the Zhejiang No. 11 Geological Brigade to explore for copper in Pingyang County, Zhejiang Province, People’s Republic of China. Entrée will spend $3 million to fund exploration activities on the licences (collectively known as “Huaixi”) over a four year period and will have the right to earn a 78% interest in the project.
Entree has formed a Wholly Foreign Owned Enterprise (WFOE) in China known as Beijing Entree Minerals Technology Company Limited. The formation of a WFOE allows Entrée to operate as a 100% owned legal entity in China and conduct exploration activities.
Entrée continues to evaluate exploration opportunities in prospective areas of China.
