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Last C$0.15 CAD
Change Today +0.03 / 25.00%
Volume 295.8K
ERD On Other Exchanges
As of 4:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

erdene resource development (ERD) Snapshot

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05/21/15 - C$0.17
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erdene resource development (ERD) Details

Erdene Resource Development Corporation engages in the acquisition, exploration, and development of precious and base mineral deposits. The company primarily explores for copper, molybdenum, gold, silver, lead, and zinc deposits. Its principal projects include the Altan Nar gold project located in southwestern Mongolia; and the Zuun Mod molybdenum-copper project consisting of 2 contiguous mining licenses that covers an area of approximately 6,399 hectares located in Bayankhongor Province, south-western Mongolia. The company was formerly known as Erdene Gold Inc. and changed its name to Erdene Resource Development Corporation in May 2008. Erdene Resource Development Corporation was incorporated in 2000 and is headquartered in Dartmouth, Canada.

Founded in 2000

erdene resource development (ERD) Top Compensated Officers

Chief Executive Officer, President, Executive...
Total Annual Compensation: C$138.0K
Chief Financial Officer, Vice President and M...
Total Annual Compensation: C$24.0K
Compensation as of Fiscal Year 2014.

erdene resource development (ERD) Key Developments

Erdene Resource Development Corporation to Commence Drilling on Khuvyn Khar Copper Porphyry Project

Erdene Resource Development Corporation announced that drilling to commence on Khuvyn Khar Copper Porphyry Project. The Khuvyn Khar copper-silver porphyry project ("Khuvyn Khar") is located on the same mining license that hosts the Company's Zuun Mod deposit, 2.2 km to the southeast. In 2014, work on the Khuvyn Khar project area included rock chip sampling, geophysical modeling, detailed vein and alteration mapping of high priority areas and a 1,532 metre trenching program designed to identify the geology, alteration and mineralization in area of poor outcrop exposure located within high priority target areas. The data collected from this exploration work provided further definition and confidence in the modelling of a potential copper porphyry target at Khuvyn Khar. The 2014 work program culminated in the identification of new, partially buried high priority drill targets in the north-central Khuvyn Khar area as well as a new target in the western portion of the Khuvyn Khar property. Exploration at Khuvyn Khar continues to confirm the potential for copper-rich porphyry style mineralization, a conclusion supported by high-grade copper-silver mineralization intersected by Erdene in previous drilling (34 m of 1.34% copper and 9.24 g/t silver). The Mineral Resource estimate was prepared under the supervision and based on information compiled by Philippe Baudry, who is an employee of Minarco-MineConsult. Philippe Baudry is a Qualified Person within the meaning of such term under NI 43-101.

Erdene Resource Development Corp. Appoints Layton Croft as Non-Executive, Independent Member of the Board

Erdene Resource Development Corp. announced the appointment of Layton Croft to the company's Board of Directors. Mr. Croft will serve as a non-executive, independent member of the Erdene board, effective immediately. Most recently he worked in Peabody Energy, as Vice President, External Relations - Asia (Singapore).

Erdene Resource Development Corporation Reports Earnings Results for the Full Year Ended December 31, 2014; Announces Drilling Updates

Erdene Resource Development Corporation reported earnings results for the full year ended December 31, 2014. For the year, the company reported net loss was $2,616,553 or $0.04 basic and diluted loss per share compared to $2,760,423 or $0.05 basic and diluted loss per share in 2013. Exploration expenditures, including capitalized costs, totaled $2,043,461 in fiscal 2014 compared to $1,916,116 in fiscal 2013. Expenditures were primarily directed toward the Altan Nar project and the Zuun Mod/Khuvyn Khar license under the Teck-Erdene alliance. The company also indicated Resource of 147,000 ounces ('oz') gold equivalent ('AuEq') averaging 2.5 g/t AuEq and Inferred Resource of 102,000 oz AuEq averaging 2.1 g/t AuEq, at a 1.0 g/t AuEq cut-off, within 1.8 million tonnes ('Mt') Indicated and 1.5 Mt Inferred, respectively 90% of Mineral Resource within 150 m of surface; open along strike and down dip. Initial Mineral Resource completed for two targets (Discovery Zone and Union North) with 16 undrilled and scout-drilled target areas along the 5.6 km mineralized trend that have good potential for hosting additional resources. Expansion drilling and preliminary scoping study planned for 2015 to consider development options including evaluating the concept of producing a high value gold, silver, lead and zinc concentrate(s) sold into neighboring China. Definition drilling at Discovery Zone returned widest and high grade zone to date with 30 m of 5.1 g/t AuEq including 8 m of 13.6 g/t AuEq. Drilling at the northern extent of Discovery Zone returned broad zones of low grade mineralization including 96 m of 1.0 g/t AuEq that remains open along strike and at depth. Drilling at Union North, 1.3 km northwest of Discovery Zone, returned 22 m of 2.9 g/t AuEq and below that 12 m of 5.4 g/t AuEq, within 35 m of surface.


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