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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$257.3M which is a rise of roughly 36% over the last three months. As of 02/20/2025 they have ~C$93M debt and ~C$3.58M 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
Change
Item Value Value Updated Value
MCap (FD): $189.04M $257.30M 02/20/2025 $68.25M
Total Assets: $11.96M $12.17M 02/20/2025 $0.20M
Total Liabilities: $95.01M $96.63M 02/20/2025 $1.62M
Current Assets: $3.52M $3.58M 02/20/2025 $0.06M
Current Liabilities: $0.33M $0.34M 02/20/2025 $0.01M
Total Debt: $91.50M $93.05M 02/20/2025 $1.56M
Cash: $3.52M $3.58M 02/20/2025 $0.06M
Enterprise Value: $277.02M $346.77M 12/27/1980 $69.75M
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: 02/20/2025 n/a
Misc 02/20/2025
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 362,236,958 362,236,958 02/20/2025 0
Shares (FD): 395,000,000 395,000,000 02/20/2025 0
Insider Ownership: n/a n/a never n/a
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 02/01/2023 02/20/2025 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 02/20/2025 0
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 02/20/2025 0
Initial CapEx (Outstanding): $59.00M
31.21% of MCap		 $59.00M
22.93% of MCap 		02/20/2025 $0.00M
Funding Option: n/a (guess)  Debt Financing 02/20/2025 n/a
Documentation: none none 02/20/2025 n/a
Future MCap Modifier: 0.2
Developer: Near-term Producer
 0.2
Developer: Near-term Producer
 02/10/2024 0
Cash Flow Multiplier: 8 8 02/20/2025 0.00

Resource Data

GOLD 02/20/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 0.25M 0.25M 02/20/2025 0.00M
Measured & Indicated: 0.30M 0.30M 02/20/2025 0.00M
Inferred: 0.30M 0.30M 02/20/2025 0.00M
Reserves & Resources: 0.60M 0.60M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 0.20M 0.20M 02/20/2025 0.00M
Measured & Indicated: 0.23M 0.23M 02/20/2025 0.00M
Inferred: 0.12M 0.12M 02/20/2025 0.00M
Reserves & Resources: 0.35M 0.35M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 02/20/2025 $0.00
Extra Operating Cost: n/a n/a 02/20/2025 $0.00
Total: $1,600 $1,600 02/20/2025 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 02/20/2025 n/a
Open Pit (Avg): n/a 2.00 g/t 02/10/2024 2.00 g/t
Recovery Rate: (CG)  80.00% (CG)  80.00% 02/20/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: 0.50M 0.50M 02/20/2025 0.00M
Annual Production: 50,000oz. 50,000oz. 02/20/2025 0oz.
Cash Cost: $1,000 $1,000 02/20/2025 $0
Extra Operating Cost: $600 $600 02/20/2025 $0
SILVER 02/20/2025
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 02/20/2025 0.00M
Measured & Indicated: n/a n/a 02/20/2025 0.00M
Inferred: n/a n/a 02/20/2025 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 02/20/2025 0.00M
Measured & Indicated: n/a n/a 02/20/2025 0.00M
Inferred: n/a n/a 02/20/2025 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 02/20/2025 $0.00
Extra Operating Cost: n/a n/a 02/20/2025 $0.00
Total: n/a n/a 02/20/2025 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 02/20/2025 n/a
Open Pit (Avg): n/a n/a 02/10/2024 n/a
Recovery Rate: n/a n/a 02/20/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 02/20/2025 0.00M
Annual Production: n/a n/a 02/20/2025 n/a
Cash Cost: n/a n/a 02/20/2025 n/a
Extra Operating Cost: n/a n/a 02/20/2025 n/a

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
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.): 0.25M 0.25M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 2.32M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.20M 0.20M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 1.86M
Maximum Profit (Gold): $265.98M $325.30M n/a $59.32M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $265.98M $325.30M n/a $59.32M
Max Profit / Current MCap: 1.407 1.264 n/a -0.143
Max Profit Per Share (Gold): $0.67 $0.82 n/a $0.15
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.67 $0.82 n/a $0.15
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD MCap / Gold Eq.: $945.22 $1,286.48 n/a $341.26
FD MCap / Silver Eq.: $10.57 $13.03 n/a $2.46
FD MCap / Per Metal
as % Spot Price:		 32.26% 39.87% n/a 7.61%
Measured &
Indicated		 02/20/2025
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.): 0.30M 0.30M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 2.79M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.23M 0.23M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 2.16M
Maximum Profit (Gold): $308.54M $377.35M n/a $68.81M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $308.54M $377.35M n/a $68.81M
Max Profit / Current MCap: 1.632 1.467 n/a -0.166
Max Profit Per Share (Gold): $0.78 $0.96 n/a $0.17
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.78 $0.96 n/a $0.17
Total Free Profit Per Share: $0.10 $0.05 n/a $-0.06
FD MCap / Gold Eq.: $814.84 $1,109.03 n/a $294.19
FD MCap / Silver Eq.: $9.11 $11.23 n/a $2.12
FD MCap / Per Metal
as % Spot Price:		 27.81% 34.37% n/a 6.56%

Reserves &
Resources		 02/20/2025
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.): 0.60M 0.60M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 5.58M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.35M 0.35M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 3.27M
Maximum Profit (Gold): $468.12M $572.53M n/a $104.40M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $468.12M $572.53M n/a $104.40M
Max Profit / Current MCap: 2.476 2.225 n/a -0.251
Max Profit Per Share (Gold): $1.19 $1.45 n/a $0.26
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.19 $1.45 n/a $0.26
Total Free Profit Per Share: $0.51 $0.54 n/a $0.03
FD MCap / Gold Eq.: $537.06 $730.95 n/a $193.90
FD MCap / Silver Eq.: $6.00 $7.40 n/a $1.40
FD MCap / Per Metal
as % Spot Price:		 18.33% 22.65% n/a 4.32%

Future Valuation (Cash Flow & Totals)

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