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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

Comment by HF.mongol.khanon Nov 19, 2017 2:05am
263 Views
Post# 26991354

RE:Bought some of the Sh's bak!!

RE:Bought some of the Sh's bak!!I know you don't like to read this but what is happening now was highly expected now or later. I never questioned the quality of the management (met one in UB the other in HK) from a mining or Mongolian point of view but Corporate Finance wise, I grade them FAIL! When you rely on weak hand strategic shareholders to raise equity ...and therefore become too dependent on them, their behavior and their weakness, no point crying...everything is pretty much set at an early stage! The blunders/narrow minded actions of one affect the rest, the company, its ability to raise equity in relevant time and its other shareholders. I have no clue if this liquidation on ERD is finished but on other assets held, it's not! Also, other very large shareholders have no reason to jump in and bid aggressively. If the seller wants to end this quickly, up to him to show his hand, how many shares he is left with and offer a very attractive selling price. then it should end quickly and ERD likely bounce from here. For now, it's a waiting game because several guys believed in fairy tales.
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