Erdene Resource Development (TSX: ERD)
Erdene has just poured first gold on its Mongolian gold project, Bayan Khundi.
The company are looking to self fund an intensive exploration round whilst rapidly paying down debt during the next 12 months.
The first target is a production rate of around 7,000 Oz gold per month within a few months from now.
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Courtesy of Erdene Resource Development
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| Erdene Resource Development | TSX : ERD | |
| Stage | Production, development, exploration | |
| Metals | Gold, Copper, Molybdenum, silver | |
| Market cap | C$511 m @ C$8.37 | |
| Location | Arizona, USA | |
| Website | www.erdene.com |
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Comment
This is just the sort of company I like to invest in, commencing production, with a funded large exploration program, in a highly prospective gold and copper belt.
The jurisdiction is Mongolia, which I would classify as tier 2 or 3, but management have moved the company through exploration into production which suggests relations with the government are good.
Lastly, their projects offer the potential for scale, which is another preference of mine.
I have just made an investment and am looking to add a few more when funds become available if management continue to deliver.
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Initiating Coverage – Erdene Resource Development
Company profile
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Projects
- Bayan Khundii Gold Project: The flagship asset is a high-grade oxide gold deposit with resources supporting initial production ramp-up in late 2025. It forms the core of the emerging Khundii Gold District.
- Altan Nar Project: A nearby gold exploration site within the Khundii District, contributing to district-scale potential.
- Tereg Uul Copper-Gold Porphyry Prospect: Up to 80% interest, located 10 km southwest of the world-class Oyu Tolgoi deposit, enhancing copper-gold exposure.
- Other projects: Zuun Mod (molybdenum-copper), Khuvyn Khar, and an Exploration Alliance with Teck Resources for copper and gold in southwest Mongolia.
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The company aims to develop a new high-grade gold district through its flagship Bayan Khundii Gold Project, targeting first production in late 2025.
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To View Erdene Resource Development’s historical news, please click here
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Erdene Resource Development
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