Erdene Resource Development Corp T.ERD

Alternate Symbol(s): ERDCF

Metals & Mining Industrial Metals & Minerals

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

Erdene Resource Development Corp

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Post by GOODVIBEon Jun 23, 2010 4:04pm

532 Views

Post# 17215689

some thoughts

the peak was April 26 at about
.70/share. Since then ERD has lost about half its value.
But from a quick glance at volume, its been pretty low, with only a few big sells, one about 700,000 shares June 9th.
I gather from my quick survey of volume that its been mostly retail investors pulling out. Maybe one or institutions reducing their positions... hard to tell.

However, the fundamentals of this company do not appear to have changed, and we are only gettling closer (in time) to the Donkin mine getting operational. Hopefully when that happens the stock price will start to reflect the value of this company.

I'm staying long, and maybe accumulating more over the next few months.

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