Industry analysts believe the Mongolian government will approve an agreement by June for the mining of the Oyu Tolgoi mining site. 

This was very good news for Ivanhoe Mines Ltd. and its shareholders. Since the Mongolian government has announced it will again seek to renegotiate its stake in the profits, Ivanhoe stock has seen a dramatic sell-off by investors. 

However, in a just published analysis of the Oyu Tolgoi deal, BMO Capital Markets analyst Craig Miller said he has upgraded the stock to "outperform" from "market perform" based upon predictions of the finalizing of an agreement to begin mining. 

"Oyu Tolgoi is now one of the world's largest copper deposits in the hands of an emerging producer and represents an attractive target for a large company," Miller recently wrote. The large company he refers to is Rio Tinto PLC, which has the right to buy up to 46.65% of Ivanhoe shares. 

Oyu Tolgoi is recognized as one of the preeminent sites worldwide with nearly 70.9 billion pounds of copper and 31.7 million ounces of gold discovered during initial explorations.

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