Business
Erdene Announces Year-End Results and Provides Bayan Khundii Project Update
HALIFAX, Nova Scotia, March 25, 2025 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX...
About this update from Erdene Resource Development Corporation
[{"type":"text","content":"Erdene Announces Year-End Results and Provides Bayan Khundii Project Update\n\n\n\n HALIFAX, Nova Scotia, March 25, 2025 (GLOBE NEWSWIRE) --\n \n Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) (\"Erdene\" or the \"Company\")\n \n is pleased to announce operating and financial results for the year ended December 31, 2024, and to provide an update on progress at the Bayan Khundii Gold Project, being developed with Mongolian Mining Corporation (“MMC”). This release should be read in conjunction with the Company’s 2024 Financial Statements and MD&A, available on the Company’s website and SEDAR+.\n \n\n Peter Akerley, Erdene’s President and CEO stated, “The past year was a period of significant progress for Erdene with the close of our Strategic Alliance with MMC, Mongolia’s leading publicly traded mining company, the commencement of construction at the Bayan Khundii gold project and continued exploration success across the Khundii Minerals District.”\n \n\n He continued, “The Bayan Khundii gold mine is one of the highest grade, open-pit gold mines under development globally and will be Mongolia’s largest primary gold producer when it reaches full production. As of today, construction progress has exceeded 80% with most facilities scheduled for completion in Q1 and early Q2 2025. Three key facilities have been commissioned and process plant commissioning is expected to commence in May 2025, with first gold production scheduled in Q3 2025.”\n \n\n Mr. Akerley concluded, “Expansion drilling during 2024 returned the highest grades to date adjacent to the planned Bayan Khundii open-pit, demonstrating strong growth potential. Additionally, ore-control drilling in late 2024 returned very positive results, confirming the high-grade nature of the Bayan Khundii deposit, and in some cases expanding mineralization. These results will be incorporated into an updated Bayan Khundii mine plan in the coming months.”\n \n\n\n 2024 Highlights and Significant Subsequent Events:\n \n\n\n\n\n Images – clockwise from top left: Bayan Khundii Construction Site, Process Plant, Accommodation Village, and Crushing and Conveyor System, March 2025.\n \n\n\n\n Bayan Khundii Gold Project\n \n\n\n\n Announced formal construction decision for Bayan Khundii on...