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Erdene Announces Positive Bankable Feasibility Study Results for Bayan Khundii Gold Project
NI 43-101 Technical Report Highlights (US$1,400/oz Gold Price) Base Case after-tax Net Present Value of US$100 million (NPV5%) and 42% Internal Rate of Return (
About this update from Erdene Resource Development Corporation
[{"type":"text","content":" NI 43-101 Technical Report Highlights (US$1,400/oz Gold Price) Base Case after-tax Net Present Value of US$100 million (NPV5%) and 42% Internal Rate of Return (IRR), increasing to US$216 million and 77% IRR, respectively, at current gold price of US$1,800/oz Life of Mine Earnings Before Interest, Taxes and Depreciation of US$257 million, increasing to US$400M at a US$1,800/oz gold price Total recovered gold over the initial phase of the Khundii Gold District development of 381,700 ounces All-in sustaining cost (“AISC”) of US$733/ounce of gold recovered and upfront capital costs of US$59 million BK Measured and Indicated Resources of 521,000 ounces gold at an average grade of 3.16 g/t gold BK Proven and Probable Reserves of 409,000 ounces gold at an average grade of 3.71 g/t gold Average annual gold production of 63,500 ounces, including 77,600 ounces in Year 2 Eight-year project, comprising one-year pre-production, six-year operating life and one-year mine closure Payback period of less than 2 years Adjacent high-grade resources and recent discoveries provide high probability growth options Significant benefits to Mongolia, including Life of Mine royalties and taxes of US$103 million and approximately 400 new direct jobs in Bayankhongor Province HALIFAX, Nova Scotia, July 20, 2020 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) (\"Erdene\" or the \"Company\") is pleased to announce the results of an independent Bankable Feasibility Study (“BFS”) for the 100%-owned, high-grade, open-pit Bayan Khundii Gold Project (“BK” or \"Project”) in southwest Mongolia. The independent BFS was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has incorporated detailed mine design and scheduling, front-end engineering design for the processing plant and site infrastructure, a hydrogeological assessment, mineral waste facility design, comprehensive capital and operating cost estimation, and an updated economic model. These studies have been completed by a consortium of International and Mongolian firms with significant experience operating in Mongolia and internationally. The Technical Report, prepared by the Roma Group Ltd, pursuant to NI 43-101 guidelines, will be filed on SEDAR within 45 days. The Company will host a conference call to review the Ba...