Analysts were expecting 50-80 million pounds, but instead learned the uranium project holds over 105 million pounds in the indicated and inferred categories.
Its chairman Bob Kamandanu decided to step down only weeks ahead of a vote proposed by largest shareholder Samin Tan to replace most directors and take the reins at the company.
Ivanhoe Mines (TSE:IVN) received a bit of unwanted publicity on Sunday when it was revealed that the wife of CEO Lars-Eric Johansson is facing criminal charges for throwing a water bottle at a flight attendant on an Air Canada flight.