Erdene Resource Development Corp. (TSX:ERD| MSE:ERDN) has published financial and operating results for the three and nine months ended September 30, 2018 on the Company’s website or SEDAR at www.sedar.com.
During the reporting period, the Company has achieved the following results
- Commenced the Preliminary Economic Assessment (“PEA”) for the Khundii Gold Project, the first economic study on the project, scheduled to be completed in late Q4 2018;
- Filed the NI 43-101 Mineral Resource Technical Report for the Khundii Gold Project on November 1, 2018;
- Initiated technical studies in support of the registration of the Khundii Gold Project resources ahead of mining license applications for Bayan Khundii and Altan Nar planned for Q4 2018;
- Drilled 25 holes totaling 3,452 metres, testing 7 targets focused on the Altan Arrow and Khundii North prospects within the Bayan Khundii license;
- Submitted a bid for a tender license on November 14, one of the first parcels of properties released by Mongolia’s Ministry of Mining and Heavy Industry in the last decade; and
- For the nine months ended September 30, 2018, the Company experienced decreases of 42% in exploration expenditures, 17% in administrative expenses as well as 14.7% in net loss compared to the same period of 2017.
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