Erdene to complete PEA for Khundii gold project in Q4

Canada-based Erdene Resource Development announced that it will be completing a preliminary economic assessment (PEA) of its Khundii gold project in the fourth quarter of 2018. The company recently announced that it has filed a technical report on its Bayan Khundii project to the System for Electronic Document Analysis and Retrieval (SEDAR), a mandatory document filing and retrieval system for Canadian public companies.

The technical report, titled “Bayan Khundii Gold Project, Bayankhongor Province, Southwest Mongolia” was prepared by RPMGlobal Asia Limited, and is available on SEDAR (www.sedar. com) under Erdene’s issuer profile. Meanwhile, the company also provided an update on its recent technical and exploration activity on its licenses in Mongolia.

“The Khundii Gold Project, combining the Bayan Khundii and Altan Nar gold deposits, represents a compelling development opportunity given its high-grade, proximity to surface, and favorable metallurgy. A PEA study for the Khundii Gold Project is currently underway and scheduled for completion in the fourth quarter,” said Peter Akerley, Erdene’s president and CEO.

“While we are focused on progressing the Khundii Gold Project towards development, we are also continuing our regional exploration program, designed to expand current resources and discover new deposits in this newly discovered gold district. Results from our Altan Arrow and new Khundii North gold discoveries continue to provide encouraging results while the technical team is also active in evaluating both private acquisitions and those available through the recently relaunched Mongolian tender licensing system, all within our area of interest in southwest Mongolia,” Akerley added.

Earlier this year, Erdene became the first company to be duallisted on the Mongolian Stock Exchange (MSE), in addition to being quoted on the Toronto Stock Exchange. Four million shares worth 1.2 million CAD of Erdene was offered to the Mongolian public on MSE.

“The introduction of the dual listing has become a significant development milestone for Mongolian capital market in that it will enable approximately 30 foreignlisted mining companies operating in Mongolia to be listed on MSE, giving the Mongolian public the opportunity to share the rewards and risks of their businesses,” MSE said at the time.