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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 minefolloweron Apr 10, 2023 12:52pm
394 Views
Post# 35386900

RE:Poor Performance

RE:Poor PerformanceThe company has a fully diluted share position of ~400 million shares. 400 million!! That's a huge number for a junior explorer. Current market cap is already $125 million, without any cash flows from an operating mine. Even if they get Bayan Khundii up and running, it's still a small resource, and they will be issuing a lot more shares to MMC and others to fund the build out. They will end up with half a billion shares outstanding before the mine is fully operational, and still be left with a small resource mine. Shareholders better hope management finds 2 million more ounces, otherwise, buying Powerball tickets is a better investment at this point.
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