Erdene Resource Development Corp (TSX:ERD, OTC:ERDCF) provided an update on its Bayan Khundii Gold Project, currently under construction, and shared results from shallow drilling in the initial mining areas. Results from the first phase of the ore control drilling confirmed the high-grade nature of the deposit, consistent with the reserve model, according to a statement from the company.
Erdene Resource Development Corp (TSX:ERD, OTC:ERDCF) announced its operating and financial results for the second quarter of 2024. The company also provided an update on the progress of its Bayan Khundii Gold Project in Mongolia.
Erdene Resource Development Corp (TSX:ERD, OTC:ERDCF) is moving closer to first gold production in Mongolia, CEO Peter Akerley told shareholders in a recent update. “The past year was “transformative” for the company, Akerley wrote in a shareholder letter.
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Industrial Materials Industry | Basic Materials Sector | Mr. Peter C. Akerley B.Sc. CEO | OTC PINK Exchange | 29480N206 Cusip |
CA Country | 17 Employees | - Last Dividend | 9 Nov 2012 Last Split | - IPO Date |
Erdene Resource Development Corporation, initially established as Erdene Gold Inc., underwent a name change in May 2008 to better reflect its diversified focus on the acquisition, exploration, and development of precious and base metal deposits primarily in Mongolia. With its foundation laid in 2000 and headquartered in Dartmouth, Canada, Erdene Resource Development stands as a significant player in the mining sector of Mongolia. The company specializes in the exploration of various metals including copper, molybdenum, gold, silver, lead, and zinc. Its activities are mainly concentrated in the southwest region of Mongolia, where it is working on its principal projects: the Bayan Khundii Gold project and the Altan Nar Gold-Polymetallic project.
This project remains Erdene Resource Development Corporation’s flagship endeavor, focusing on the exploration and development of gold deposits in southwest Mongolia. The exploration work at Bayan Khundii has yielded significant gold discoveries, positioning it as a potentially major source of gold in the region.
Located also in southwest Mongolia, the Altan Nar project explores a wider range of metals, making it a polymetallic venture. Alongside gold, the project targets the discovery and development of other metals such as silver, lead, and zinc, contributing to the diversification of Mongolia’s mineral resources and Erdene’s portfolio.