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Erdene Resource Development Corp T.ERD

Alternate Symbol(s):  ERDCF

Erdene Resource Development Corp. is a Canada-based resource company focused on the acquisition, exploration and development of precious and base metals in underexplored and highly prospective Mongolia. It has interests in three mining licenses and an exploration license in Southwest Mongolia. Its projects include Khundii Minerals District, Bayan Khundii Gold Project, Altan Nar, Greater Dark Horse, Ulaan, Zuun Mod and Khuvyn Khar. Its projects are located in the eastern portion of the Central Asian Orogenic belt. The Bayan Khundii mining license covers 2,309 hectares and, in addition to the Bayan Khundii high-grade gold deposit, includes its highly prospective 20 square kilometers greater Dark Horse prospect area, including the Dark Horse Mane high-grade gold discovery. The Zuun Mod Molybdenum-Copper Project is a porphyry molybdenum-copper deposit. The Altan Nar mining license covers 4,669 hectares. The central and northern portion of the Ulaan license hosts a porphyry copper prospect.


TSX:ERD - Post by User

Post by cupricityon Feb 19, 2010 11:10am
223 Views
Post# 16799741

Similiar to Zunn Modd

Similiar to Zunn Modd
   Similiar project to Zunn Modd Moly project is CMS (Creston Moly Corps) Mexican Deposit.  It has better grade of moly (.08% vs .065%) but a similiar gross tonnage pounds of moly.  and This deposit is a little better proven up with a feasibility study. Interestingly CMS is valued at 55 million and has debt of 20 million and only 5 million in cash.  So the value of El Creston is 70 million approximately
    If Zunn Mod were given half of the value of CMS then we would be looking at a stock price of double what it is today.  Well even higher than that.  Erdene has a Market Cap of 28 million and cash of 13 so their net worth of projects is 15 million.  If Zunn Mod was worth half of what a similiar size deposit in Mexico was worth (Mexicos biggest moly Project) then ERD would add 35 million to it's stock price (assuming that the market gives no value to Zunn Modd)  or 35 cents to 65 cents.  That values the coal mine(NPV of 225 million by thermal coal prices of 50 bucks!!!!) , the Kaolin and the granite at 15 million.
    If anyone wants to read about metallurgical coal I suggest researching Western Coal of Anglo American for their latest results. They were all profitable at    $130/tonne.   
    Another question I would have for the board and I will do some research today is how does Donkin Coking Coal stand up to western Canadian coking coal in terms of quality.
    Good luck to all.
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