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Last C$0.15 CAD
Change Today 0.00 / 0.00%
Volume 0.0
As of 2:36 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

erdene resource development (ERD) Snapshot

Open
C$0.14
Previous Close
C$0.15
Day High
C$0.15
Day Low
C$0.14
52 Week High
06/3/14 - C$0.20
52 Week Low
12/11/14 - C$0.09
Market Cap
12.8M
Average Volume 10 Days
28.2K
EPS TTM
C$-0.03
Shares Outstanding
85.5M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for ERDENE RESOURCE DEVELOPMENT (ERD)

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erdene resource development (ERD) Details

Erdene Resource Development Corporation acquires, explores for, and develops mineral deposits. The company explores for copper, molybdenum, gold, silver, lead, zinc, and base metal deposits. Its principal projects include 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, Mongolia; and the Altan Nar gold project located in southwestern 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 and Vice President of...
Total Annual Compensation: C$24.0K
Compensation as of Fiscal Year 2014.

erdene resource development (ERD) Key Developments

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.

Erdene Resource Development Corp. Provides Review of 2014 and First Quarter of 2015 Activities in Mongolia Project

Erdene Resource Development Corp. provided a review of 2014 and first quarter of 2015 activities on the company's principal projects in Mongolia in conjunction with its December 31, 2014 year-end financial results. The project and financial highlights include - Altan Nar Gold-Polymetallic Project (100% Erdene) ­ Initial Mineral Resource Estimate: 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; and 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. Altan Nar Gold-Polymetallic Project ­ Drilling Highlights: 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; and 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. Agreement with Tian Poh Resources Ltd: Tian Poh was granted a period of exclusivity to exercise an option to acquire an interest in Erdene's Zuun Mod molybdenum-copper project; Tian Poh can acquire and retain a 51% interest in Zuun Mod for USD 4.8 million in cash and equity in Tian Poh, and by meeting certain work commitments; Teck Resources Limited Alliance: Erdene continued to evaluate opportunities through its alliance with Teck, focused on regional exploration for base and precious metal targets in southwest Mongolia; and Erdene initiated an acquisition program under the alliance. Mongolian Government Update: Mongolia has made, and continues to focus on, significant legislative improvements for the mining and financing sectors; reduced the gold royalty from 10% to 2.5%; extended the maximum term of an exploration license from 9 to 12 years; and re-opened the mineral license staking system after a 5-year hiatus.

Erdene Resource Development Corporation Announces Initial Resource Estimate for Altan Nar Gold Polymetallic Project in Southwest Mongolia

Erdene Resource Development Corp. announced receipt of the initial mineral resource estimate for Discovery Zone and Union North, two of 18 target areas identified to date at the company's 100%-owned Altan Nar Gold-Polymetallic Project in southwest Mongolia. The Mineral Resource is contained in a report produced by Runge Pincock Minarco Limited (RPM) in accordance with National Instrument 43-101 guidelines. The Resource Report is based on information provided to RPM by Erdene and verified where possible by RPM. All statistical analysis and mineral resource estimations were carried out by RPM. RPM developed three dimensional digital resources for the concentration of the gold, silver, zinc and lead metals and developed the resource estimates based on the statistical analysis of the data provided. Inferred Mineral Resource estimate for the Discovery Zone and Union North prospects as at February 19, 2015. The Mineral Resource was completed by RPM in accordance with the recommended guidelines of the CIM Definition Standards referenced in NI 43-101. The Mineral Resources are provided at a number of AuEq cut-offs, however RPM suggests reporting the Mineral Resource at a 1.0 g/t AuEq cut-off. The Mineral Resource Estimate Summary has been compiled under the supervision of Mr. Jeremy Clark who is a full-time employee of RPM and a Member of the Australian Institute of Geoscientists. Mr. Clark has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Qualified Person as defined in the CIM Standards of Disclosure. All Mineral Resource figures reported in the table above represent estimates as at 19th February, 2015. Mineral Resource estimates are not precise calculations, being dependent on the interpretation of limited information on the location, shape and continuity of the occurrence and on the available sampling results. The totals contained have been rounded to reflect the relative uncertainty of the estimate. Rounding may cause some computational discrepancies. Mineral Resource grades are reported in accordance with the CIM Standards. Mineral Resources reported on a dry in-situ basis. Totals may differ due to rounding. The Mineral Resource was completed by RPM using ordinary kriging and inverse distance squared interpolation methods. The Mineral Resource is reported using a cut-off grade which is deemed appropriate for the style of mineralization and the current state of the Mineral Resources. Of importance for mine planning, the model accommodates in-situ and contact dilution but excludes mining dilution. Block size (25 x 5 x 5 m, sub-blocked to 3.25 x 1.25 x 1.25 m) is similar to the expected small-mining units conventionally used in this type of deposit, and appropriate for an open pit mine. With the initial resource established, Erdene will look towards the completion of a preliminary scoping study in 2015 which will consider options for expedited development including evaluating the concept of producing a potentially high value gold, silver, lead and zinc concentrate(s) to be sold into China (rail link 175 km to the south of Altan Nar) for final processing. As stated by RPM in the Resource Report, this option has the potential to enable relatively low capital and operating costs during start up and for the generation of early cash flow. Simultaneously, in the first half of 2015, Erdene intends to complete additional evaluation of the remaining target areas to assist in determining the high priority areas for defining additional near-surface resources at Altan Nar. The potential for increasing the resource is considered by RPM to be good, with the Discovery Zone and Union North open along strike and at depth, and multiple priority targets throughout the remaining 16 prospects.

 

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