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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
TSE:ERD CAD
OTCMKTS:ERDCF USD

Description

Erdene Resource Development Corp are a gold focused junior, near-term producer with one mine in development in Mongolia and three exploration properties. They have approximately 0.6Moz. of gold in the reserves and resources category of which 0.3Moz. are in the measured and indicated category. They have a market capitalisation of ~C$274.22M which is a rise of roughly 45% over the last five months. As of 02/20/2025 they have ~C$95M debt and ~C$3.65M cash. They have 362M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 02/20/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $189.04M $274.22M 02/20/2025
Total Assets: $11.96M $12.42M 02/20/2025
Total Liabilities: $95.01M $98.65M 02/20/2025
Current Assets: $3.52M $3.65M 02/20/2025
Current Liabilities: $0.33M $0.34M 02/20/2025
Total Debt: $91.50M $95.00M 02/20/2025
Cash: $3.52M $3.65M 02/20/2025
Enterprise Value: $277.02M $365.57M 08/01/1981
Cash Flow: $0.00M $0.00M never
Cash Flow Multiple: 0.00 0.00 never
Net Debt to
Cash Flow Ratio:		 n/a n/a never
Finance within 1 year: 02/20/2025
Misc 02/20/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 362,236,958 362,236,958 02/20/2025
Shares (FD): 395,000,000 395,000,000 02/20/2025
Insider Ownership: n/a n/a never
Dividend (Annual): n/a n/a never
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a 02/01/2023 02/20/2025
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 02/20/2025
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 02/20/2025
Initial CapEx (Outstanding): $59.00M
31.21% of MCap		 $59.00M
21.52% of MCap 		02/20/2025
Funding Option: n/a (guess)  Debt Financing 02/20/2025
Documentation: none none 02/20/2025
Future MCap Modifier: 0.2
Developer: Near-term Producer
 0.2
Developer: Near-term Producer
 02/10/2024
Cash Flow Multiplier: 8 8 02/20/2025

Resource Data

GOLD 02/20/2025
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 0.25M 0.25M 02/20/2025
Measured & Indicated: 0.30M 0.30M 02/20/2025
Inferred: 0.30M 0.30M 02/20/2025
Reserves & Resources: 0.60M 0.60M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 0.20M 0.20M 02/20/2025
Measured & Indicated: 0.23M 0.23M 02/20/2025
Inferred: 0.12M 0.12M 02/20/2025
Reserves & Resources: 0.35M 0.35M never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 02/20/2025
Extra Operating Cost: n/a n/a 02/20/2025
Total: $1,600 $1,600 02/20/2025
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 02/20/2025
Open Pit (Avg): n/a 2.00 g/t 02/10/2024
Recovery Rate: (CG)  80.00% (CG)  80.00% 02/20/2025
F
U
T
U
R
E		 Proven & Probable: 0.50M 0.50M 02/20/2025
Annual Production: 50,000oz. 50,000oz. 02/20/2025
Cash Cost: $1,000 $1,000 02/20/2025
Extra Operating Cost: $600 $600 02/20/2025
SILVER 02/20/2025
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 02/20/2025
Measured & Indicated: n/a n/a 02/20/2025
Inferred: n/a n/a 02/20/2025
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 02/20/2025
Measured & Indicated: n/a n/a 02/20/2025
Inferred: n/a n/a 02/20/2025
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 02/20/2025
Extra Operating Cost: n/a n/a 02/20/2025
Total: n/a n/a 02/20/2025
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 02/20/2025
Open Pit (Avg): n/a n/a 02/10/2024
Recovery Rate: n/a n/a 02/20/2025
F
U
T
U
R
E		 Proven & Probable: n/a n/a 02/20/2025
Annual Production: n/a n/a 02/20/2025
Cash Cost: n/a n/a 02/20/2025
Extra Operating Cost: n/a n/a 02/20/2025

Property

Last Analysis Data  (02/20/2025)
Stage Name Owned Au Ag Cu Notes
Dev Altan Nar 50% show
500,000 oz at 2 gpt

PEA in 2019
2nd mine.
Exp Khundii (Bayan and Dark Horse) 50% show
500,000 oz at 3 gpt

PFS in 2019
50,000 oz annual production
$1000 all-in costs
$40 million
production in 2024
Exp Ulaan 50% n/a
Exp Zuun Mod 100% show
Large copper and moly deposit. Close to a feasibility study decision.
Total Land Package Size (ha): 750  
Current Data
Stage Name Owned Au Ag Cu Notes
Dev Altan Nar 50% show
500,000 oz at 2 gpt

PEA in 2019
2nd mine.
Exp Khundii (Bayan and Dark Horse) 50% show
500,000 oz at 3 gpt

PFS in 2019
50,000 oz annual production
$1000 all-in costs
$40 million
production in 2024
Exp Ulaan 50% n/a
Exp Zuun Mod 100% show
Large copper and moly deposit. Close to a feasibility study decision.
Total Land Package Size (ha): 750  

Profitability (by resource)

Proven &
Probable		 02/20/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 0.25M 0.25M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.20M 0.20M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $265.98M $347.75M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $265.98M $347.75M n/a
Max Profit / Current MCap: 1.407 1.268 n/a
Max Profit Per Share (Gold): $0.67 $0.88 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $0.67 $0.88 n/a
Total Free Profit Per Share: $0.00 $0.00 n/a
FD MCap / Gold Eq.: $945.22 $1,371.10 n/a
FD MCap / Silver Eq.: $10.57 $15.64 n/a
FD MCap / Per Metal
as % Spot Price:		 32.26% 41.07% n/a
Measured &
Indicated		 02/20/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 0.30M 0.30M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.23M 0.23M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $308.54M $403.39M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $308.54M $403.39M n/a
Max Profit / Current MCap: 1.632 1.471 n/a
Max Profit Per Share (Gold): $0.78 $1.02 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $0.78 $1.02 n/a
Total Free Profit Per Share: $0.10 $0.07 n/a
FD MCap / Gold Eq.: $814.84 $1,181.98 n/a
FD MCap / Silver Eq.: $9.11 $13.48 n/a
FD MCap / Per Metal
as % Spot Price:		 27.81% 35.40% n/a

Reserves &
Resources		 02/20/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 0.60M 0.60M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.35M 0.35M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $468.12M $612.05M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $468.12M $612.05M n/a
Max Profit / Current MCap: 2.476 2.232 n/a
Max Profit Per Share (Gold): $1.19 $1.55 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $1.19 $1.55 n/a
Total Free Profit Per Share: $0.51 $0.60 n/a
FD MCap / Gold Eq.: $537.06 $779.04 n/a
FD MCap / Silver Eq.: $6.00 $8.89 n/a
FD MCap / Per Metal
as % Spot Price:		 18.33% 23.33% n/a

Future Valuation (Cash Flow & Totals)

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