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Erdene Resource Development Corp.

www: www.erdene.com   email: info@erdene.com
Category: Junior: Near-term Producer
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Symbol Data

Symbol Currency
OTCMKTS:ERDCF USD
TSE:ERD CAD

Description

Erdene Resource Development Corp. are a gold focused junior near-term producer with two mines in development in Canada and Mongolia and five exploration properties. They have approximately 1.2Moz. of gold in the reserves and resources category of which 0.85Moz. are in the measured and indicated category. They have a market capitalisation of ~C$107.1M which is a fall of roughly 11% over the last two weeks. As of 02/19/2021 they have ~C$47M debt and ~C$9.47M cash. They have 268M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 02/19/2021
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Mkt. Cap (FD): $120.36M $107.10M 02/19/2021 $-13.26M
Total Assets: $13.46M $13.41M 02/19/2021 $-0.05M
Total Liabilities: $51.46M $51.28M 02/19/2021 $-0.17M
Current Assets: $9.50M $9.47M 02/19/2021 $-0.03M
Current Liabilities: $0.37M $0.37M 02/19/2021 $0.00M
Total Debt: $47.50M $47.34M 02/19/2021 $-0.16M
Cash: $9.50M $9.47M 02/19/2021 $-0.03M
Enterprise Value: $158.36M $144.97M 08/05/1974 $-13.38M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 02/19/2021 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 02/19/2021 0.00%
Misc 02/19/2021
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 268,450,000 268,450,000 02/19/2021 0
Shares (FD): 362,000,000 362,000,000 02/19/2021 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 02/01/2022 02/19/2021 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 02/19/2021 0
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 02/19/2021 0
Initial CapEx (Outstanding): $59.00M
49.02% of Mkt.Cap		 $59.00M
55.09% of Mkt.Cap 		02/19/2021 $0.00M
Funding Option: n/a (guess)  Debt Financing 02/19/2021 n/a
Documentation: none FS 02/19/2021 n/a
Value Adjustment: 10% 10% never 0%

Resource Data

GOLD 02/19/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 0.40M 0.40M 02/19/2021 0.00M
Measured & Indicated: 0.85M 0.85M 02/19/2021 0.00M
Inferred: 0.35M 0.35M 02/19/2021 0.00M
Reserves & Resources: 1.20M 1.20M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 0.36M 0.36M 02/19/2021 0.00M
Measured & Indicated: 0.68M 0.68M 02/19/2021 0.00M
Inferred: 0.16M 0.16M 02/19/2021 0.00M
Reserves & Resources: 0.84M 0.84M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 02/19/2021 $0.00
Extra Operating Cost: n/a n/a 02/19/2021 $0.00
Average Grade: 2.50 g/t 2.50 g/t 02/19/2021 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 02/19/2021 0.00%
F
U
T
U
R
E		 Proven & Probable: 1.50M 1.50M 02/19/2021 0.00M
Annual Production: 75,000oz. 75,000oz. 02/19/2021 0oz.
Cash Cost: $650 $650 02/19/2021 $0
Extra Operating Cost: $450 $450 02/19/2021 $0
SILVER 02/19/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 02/19/2021 0.00M
Measured & Indicated: n/a n/a 02/19/2021 0.00M
Inferred: n/a n/a 02/19/2021 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 02/19/2021 0.00M
Measured & Indicated: n/a n/a 02/19/2021 0.00M
Inferred: n/a n/a 02/19/2021 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 02/19/2021 $0.00
Extra Operating Cost: n/a n/a 02/19/2021 $0.00
Average Grade: n/a n/a 02/19/2021 n/a
Recovery Rate: n/a n/a 02/19/2021 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 02/19/2021 0.00M
Annual Production: n/a n/a 02/19/2021 n/a
Cash Cost: n/a n/a 02/19/2021 n/a
Extra Operating Cost: n/a n/a 02/19/2021 n/a

Property

Last Analysis Data  (02/19/2021)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Canada Donkin 25% n/a n/a n/a
Development Mongolia, Mongolia Altan Nar 100% n/a Open Pit show
500,000 oz at 2 gpt

PEA in 2019
2nd mine.
Exploration Mongolia, Mongolia Bayan Khundii 100% 750 Open Pit show
500,000 oz at 3 gpt

PFS in 2019
50,000 oz annual production
$1000 all-in costs
$40 million capex
Exploration Mongolia Khuvyn Khar 100% n/a n/a n/a
Exploration Mongolia Zuun Mod 100% n/a n/a show
Large copper and moly deposit. Close to a feasibility study decision.
Exploration Georgia, USA Granite Hill 100% n/a n/a n/a
Exploration Georgia, USA Sparta 62% n/a n/a n/a
Total Land Package Size (ha): 750  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Canada Donkin 25% n/a n/a n/a
Development Mongolia, Mongolia Altan Nar 100% n/a Open Pit show
500,000 oz at 2 gpt

PEA in 2019
2nd mine.
Exploration Mongolia, Mongolia Bayan Khundii 100% 750 Open Pit show
500,000 oz at 3 gpt

PFS in 2019
50,000 oz annual production
$1000 all-in costs
$40 million capex
Exploration Mongolia Khuvyn Khar 100% n/a n/a n/a
Exploration Mongolia Zuun Mod 100% n/a n/a show
Large copper and moly deposit. Close to a feasibility study decision.
Exploration Georgia, USA Granite Hill 100% n/a n/a n/a
Exploration Georgia, USA Sparta 62% n/a n/a n/a
Total Land Package Size (ha): 750  

Profitability (by resource)

Proven &
Probable		 02/19/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 0.40M 0.40M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.81M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.36M 0.36M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.72M
Maximum Profit (Gold): $189.77M $166.26M n/a $-23.51M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $189.77M $166.26M n/a $-23.51M
Max Profit / Current MCap: 1.577 1.552 n/a -0.024
Max Profit Per Share (Gold): $0.52 $0.46 n/a $-0.06
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.52 $0.46 n/a $-0.06
Total Free Profit Per Share: $0.10 $0.08 n/a $-0.02
FD Mkt. Cap / Gold Eq.: $334.33 $297.51 n/a $-36.82
FD Mkt. Cap / Silver Eq.: $5.11 $4.41 n/a $-0.70
FD Mkt. Cap / Per Metal
as % Spot Price:		 18.73% 17.50% n/a -1.23%
Measured &
Indicated		 02/19/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 0.85M 0.85M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 1.71M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.68M 0.68M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 1.38M
Maximum Profit (Gold): $360.57M $315.90M n/a $-44.66M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $360.57M $315.90M n/a $-44.66M
Max Profit / Current MCap: 2.996 2.950 n/a -0.046
Max Profit Per Share (Gold): $1.00 $0.87 n/a $-0.12
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.00 $0.87 n/a $-0.12
Total Free Profit Per Share: $0.58 $0.50 n/a $-0.08
FD Mkt. Cap / Gold Eq.: $175.96 $156.58 n/a $-19.38
FD Mkt. Cap / Silver Eq.: $2.69 $2.32 n/a $-0.37
FD Mkt. Cap / Per Metal
as % Spot Price:		 9.86% 9.21% n/a -0.65%

Reserves &
Resources		 02/19/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.20M 1.20M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 2.42M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.84M 0.84M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 1.69M
Maximum Profit (Gold): $443.59M $388.64M n/a $-54.95M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $443.59M $388.64M n/a $-54.95M
Max Profit / Current MCap: 3.686 3.629 n/a -0.057
Max Profit Per Share (Gold): $1.23 $1.07 n/a $-0.15
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.23 $1.07 n/a $-0.15
Total Free Profit Per Share: $0.81 $0.70 n/a $-0.11
FD Mkt. Cap / Gold Eq.: $143.03 $127.28 n/a $-15.75
FD Mkt. Cap / Silver Eq.: $2.18 $1.89 n/a $-0.30
FD Mkt. Cap / Per Metal
as % Spot Price:		 8.01% 7.49% n/a -0.53%

Future Valuation (Cash Flow & Totals)

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